The Everything Rally
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The MAG 7 have reasserted themselves as market leaders, driven by the underestimated impact of AI. “Investors” cannot grasp the transformative power AI will have over the next 3–4 years — or the scale of megatech’s investment.
Bitcoin will continue to lead every asset class this year and be included in many 401ks.
Long-term rates are likely heading higher.
Price action still rules over fundamentals.
Palantir to $200. Remember before it was even public?
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The importance of macro: Most stock moves are driven by the big-picture, with company-specific factors only account for a fraction of their move. Most Wall Street “analysts & investors” are trained on a bottom-up view, which can lead to mistakes when macro forces take over.
Diversification tends to work well when you don’t want it to (during rallies), but it fails to protect us during downturns. This challenges the traditional investment strategy of diversification, highlighting the need for a more dynamic approach to managing portfolio risk.
QQQs making new relative highs against the S&P.
We are expecting higher long term rates.
Tesla: Great risk/reward at these levels. That bid in the beginning of June is the floor.
In July 2020 we wrote our thoughts on a Long AMD: Short Intel trade. Since then: AMD +211% Intel -62%. Does anyone remember the PDFs we used to send out? Comment below.
Look how bad Intel continues to be.
