Friday Was Ugly...Will Markets Monday Be Even Worse?

This week, I spent a lot of time thinking about narratives…and what happens when reality collides with them.

First, my take on Friday’s ugly-ass day in the market…and why I think it could just be the beginning of something bigger…

Don't Ignore Today's Market Selloff

Then my latest crypto piece, “Bitcoin Bulls All Have A Breaking Point,” looks at one of the most persistent stories in markets: the idea that Bitcoin’s most committed advocates will never sell. But…the problem is that everybody has a number. Even the most committed bitcoin advocates…

Bitcoin Bulls All Have A Breaking Point

Beyond crypto, I also reminded readers of a major crack under the surface of the market right now in what is taking place in private credit:

Lest We Forget, Private Credit Is Still Imploding

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I also continued my coverage of SpaceX, a company that increasingly looks like a proxy for broader AI and speculative market enthusiasm. This week I examined Morningstar’s surprisingly bearish valuation work and took another look at the assumptions supporting the company’s eye-popping private market price. The deeper I dig, the more questions I have.

This SpaceX Pump Just Keeps Getting Uglier

Meanwhile, I wrote about the growing effort to redefine inflation itself, a trend that risks turning an objective economic measurement into something impossible to pin down. I also revisited the ongoing deterioration in private credit markets, a story that has largely faded from headlines despite continuing signs of stress beneath the surface.

Concerning Interest In Redefining “Inflation”

Finally, I sat down with Adam Taggart for an hour-long conversation about markets, trading, and the process of evolving beyond both. We discussed why today’s markets feel fundamentally different from those of the past and how adapting to that reality has changed the way I think about investing.

Walking Away

If you missed anything this week, now is a great time to catch up. As always, thank you for reading and supporting independent research. Here’s what else is new on the blog:

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