7 more minutes

Don't bet on the end of the world, it only happens once and the odds are against you"

-Art Cashin (Director of Floor Operations, UBS Financial Services)



​​The Portfolio Performance

The portfolio is down -26% YTD

The S&P 500 is down -16% YTD



Powell Speaks

At 2:30 pm EST Jerome Powell will speak and tell us what the Fed plans to do with interest rates. Amidst the most important earnings season in my memory, I'm not looking to make any big moves until I hear, in detail, what Powell says.


Earnings so far can be characterized as "Better than expected" or "Not as bad as feared". Given the extreme challenges businesses have faced, I'm impressed. American Express and Chipotle in particular delivered stunning quarters, while Walmart stunned with an unforgivably terrible quarter. For a company that prides itself on its AI and supply chain perfection, the last quarter was yet another repeat that says maybe their expertise is waning and they need to take a hard look internally.


I have u