What we learned the week BBY hit its 200-week SMA in 2016.
BBY touched its 200-week line in 2016. Twelve months later: +97.5%.
Ergodicity: The Math Concept That Explains Why You Can’t Average Bad Outcomes
Most return calculations lie to you by averaging across investors instead of through time. Understanding ergodicity reveals why volatility kills wealth, and how to size accordingly.
High Multiples Don’t Equal a Bubble (And What Actually Does)
A high P/E ratio makes markets expensive, not necessarily bubble territory. Learn the real markers — leverage, narrative dominance, and issuance frenzy — that separate overvaluation from speculative collapse.
Rate Cuts and Equity Returns: The Relationship Is Messier Than CNBC Suggests
The Fed cuts rates and stocks rise, right? Not always. The historical record shows the outcome depends almost entirely on why rates are being cut, not that they are.
What we learned the week NVDA hit its 200-week SMA in 2019.
NVDA touched its 200-week line in 2019. Twelve months later: +162.1%.
Which Equity Sectors Actually Pass Inflation Through to Earnings
Not every sector that rises in an inflation narrative actually protects your earnings. Here's the sector-by-sector evidence on pricing power, and why the story often misleads.
Berkshire Without Buffett: What the Operating Engine Actually Looks Like
Buffett is gone from the CEO seat. What remains is an insurance float machine, two capital-intensive giants, and dozens of durable subsidiaries. Here's what Greg Abel actually inherited.
Factor Investing: Where the Premia Are Real and Where They’re Overfit
Not all factors are created equal. Discover which premia have survived out-of-sample scrutiny, which are likely data mining artifacts, and what it truly costs to capture them.
UAL touched its line in May 2016. Here’s what happened next.
UAL touched its 200-week line in 2016. Twelve months later: +74.3%.