When you come across people who know they’re smarter than most people, your first instinct might be to think you’ve got no way of persuading them of anything. This is not true. From Bethany McLean’s epic piece on Valeant at Vanity Fair: Investors thought he spoke their language. He’d say, “All I care about is…

Here’s a term we haven’t heard in awhile. It’s begun to resurface. Here’s HSBC’s global technical analysis note this morning: The S&P 500 ® Industrials sector has given a bull signal with momentum turning higher on the back of a positive Cyclical Trend Indicator. Added to the upside breakout in the FANGs highlighted in our…

Chart

None of this expectations-setting process is science. Wall Street is always stunned by this or that development.

You’ve been hearing the term “earnings recession” a lot lately, no doubt. And for good reason, we’re totally having one. If we define the term as two consecutive quarters during which S&P 500 earnings decline year-over-year, then the current earnings recession began in Q3 2015 and is still ongoing. We’re in the third consecutive quarter…

On the latest Tim Ferriss podcast, we get a glimpse into the mind of Marc Andreessen, Silicon Valley visionary and all around super-bright guy. It’s a solid hour of discussion about the future, the past, the way the Valley really works and the ideas he is most bullish about. It’s an absolute pleasure to listen…

A timely reminder from George Orwell: