Nvidia Strikes
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5 Things to Know in Investing This Week – The Ugly Ferrari Issue
Uber is trying to buy Delivery Hero. It would give Uber greater market access in Asia and the Middle East. PCE showed continued increases in inflation and GDP is weaker than expected. The Powell Fed never got inflation under control and the GDP numbers are polluted by wasteful government spending that doesn’t help US citizens, … Read more
Research Calls in the Semiconductor Space
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5 Things to Know in Investing This Week – The Warsh is Trapped Issue
Kevin Warsh takes the big chair with no room to cut. The stock market yawns and I point out for the nth time that Fed rate cuts don’t lead to lower borrowing rates. The yield on the Japanese Government 30 year is up by even more leading to a reduced incentive for the carry trade. … Read more
5 Things to Know in Investing This Week – The Warsh Fed Issue
Kevin Warsh gets the big chair and the most glamorous job in finance. After months of reporters panicking about the loss of Fed independence (something that never existed), Warsh takes over with no room to cut rates. I said in the summer of ’24 that Powell shouldn’t cut. I stand by that assertion. eBay rejected … Read more
Intel, Semiconductors, and OpenAI – What if I’m Wrong?
I started buying Intel in the mid-$30s in November. I bought more in the $40s and the $50s over the next few months. I sold a little bit in the $60s, a little more in the mid-$80s, and last week, I sold more in the mid-$120s (just under $127). The reason for the sales is … Read more
1Q Results
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CPI Update
I’m currently on a train which is why today’s CPI report is late. I also think the previous 9-10 page commentary was helpful when I started writing it every month, but is no longer serving us well. The CPI report does matter, but it’s not driving markets like it did in ’22, ’23, and ’24. … Read more
Portfolio Update
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5 Things to Know in Investing This Week – The Spirit Management Killed Spirit Airlines Issue
Spirit Airlines filed for Chapter 7 leading X to try to assign political blame. Elizabeth Warren was wrong to brag about blocking the Jet Blue deal and crowing that it was a win for the Biden Administration, but was there something else going on as well? We provide a completely different view free from partisan … Read more
