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Flying Cars, Smart Homes, and Cracks in the AI Boom
Apple and Tesla are unveiling futuristic products, but are they solving real problems or just creating new ones?
UPS Stock Is Down 57% From Its Record. Is It a Buy Before Its Oct. 27 Report?
Can the delivery giant's leaner network make enough to back a 6.5% yield?
Forget the FDA Delay: 3 Reasons Exelixis Is Still a Buy
Exelixis will have to wait longer than expected to earn approval for a new drug. It's not the end of the world.
Booking vs. Chewy: Do Pet Treats or Plane Tickets Make for a Better Stock in 2026?
Booking's 20% net margin and $9.1B free cash flow contrast sharply with Chewy's 1.8% margin, but their valuations tell a different story.
Is Berkshire Bending the Rules With Bending Spoons?
When you think “companies Berkshire Hathaway likes”, often we think of mature, almost iconic businesses that have produced consistent results for years. Bending Spoons, an acquirer of legacy digital assets, doesn’t really fit the mold. Today, though, Matt, Jon, and Tyler take a closer look at why Berkshire is buying this Milan-based business and why it may be closer to the prototypical Berkshire b
Amazon.com (AMZN) Cancels $427 Million Loudoun County Data Center Project
Amazon.com (NasdaqGS:AMZN) dropped plans for a US$427 million data center complex in Loudoun County after sustained local opposition. The group redirected part of the cancelled data center budget toward new community investment initiatives in Northern Virginia, according to local officials. Anthropic reported that cloud capacity for AI workloads is being rationed across large providers, including
Latest analysis
View all →The front end is telling you the cut is coming
The 2s10s has been steepening for three months while the 2-year grinds lower. That divergence usually resolves with the front end leading. My read: the market is pricing an easing cycle that the dot plot hasn't fully acknowledged yet. I'm watching two things: (1) the trajectory of core services ex-housing, and (2) the tone of regional Fed speakers. If both soften into the next meeting, the risk is a faster repricing than consensus expects. This is a framework, not a signal — size positions to survive being early.
Memory upcycle: mid-innings, not late
Bears argue the DRAM cycle is topping. I disagree. Bit demand from AI training clusters is structurally different from the PC/mobile cycles of the past. Inventory days at the top three suppliers are still below the five-year average. That said, valuation already embeds a lot. I'd rather add on pullbacks than chase strength here. Watch capex discipline — the moment someone breaks ranks and floods capacity, the thesis changes.
Bitcoin: strong hands, thin float — but mind the leverage
Exchange balances keep bleeding lower and long-term holder supply is near records. That's a constructive backdrop. The risk isn't spot demand — it's derivatives. Funding has crept up and open interest is elevated. My base case is grind-higher with sharp, leverage-driven flushes along the way. Neutral-to-constructive, but I respect the downside air pockets.
Dollar smile: which side are we on?
The DXY softness on cooler jobs data fits the 'benign disinflation' side of the dollar smile — risk-on, dollar-down. The regime I'd worry about is the other tail: a growth scare that sends the dollar bid for safety. For now, neutral. I fade extremes in either direction and let the data adjudicate.