Excess Returns

Jim Paulsen Sees a Correction Coming | The 33 Charts That Turned Him Cautious

Big Uptrend. Tech Momentum Fading | Katie Stockton on the Rotation Investors Are Missing

We Asked a $1 Billion Quant Manager Why Concentration Isn't a Warning — and Small Caps Aren't Dead

Evidence-based investing provides a disciplined framework for navigating market volatility and periods of high concentration. Rather than attempting to time bubbles, investors should focus on underlying economic drivers and maintain broad diversification to mitigate risk. Factor-based strategies identify companies with...

The $600 Billion Loop | Jeff Klingelhofer on AI, the Return of Bonds and the Fed's Third Mandate

We Asked Meb Faber Why US Stocks Won for 250 Years — And If It Can Continue

The U.S. stock market functions as the ultimate venture capital success story, characterized by a 250-year bull run fueled by a unique culture of ownership and risk-taking. Meb Faber, co-founder and CIO of Cambria Investment Management, highlights that long-term compounding is the primary driver of wealth, often dwarfi...

Labor Market Cracks, Wild Fed Credibility Data and Semis Running Out of Pie | Last Call

The AI Trade, the Fed and the Next Phase of the Bull Market | Warren Pies

He Wrote the Book on Why Moats Fail | Ritavan on What Actually Compounds Instead

The 100 Year Thinkers: Chris Mayer on SpaceX, AI Reckoning, and Why Early Is Overrated

We Asked GMO’s Head of Asset Allocation Why This Bubble is Easy — But Investors Will Get it Wrong

Finding Quality Growth in Emerging Markets with Ian Smith

The $2 Trillion Question | Tobias Carlisle on SpaceX, the AI Buildout, and the Rotation No One Sees

The Trillion Dollar Gap | Aswath Damodaran on SpaceX, AI and the Big Market Delusion

Andy Constan on the SpaceX IPO, AI CapEx, and the End of the Buyback Tailwind

The SpaceX IPO Meets a Huge Options Expiration | Brent Kochuba on What Comes Next

The Signs Were All There | Mike Green on When Passive Flows Meet the Largest IPO in History

We Asked Vanguard’s Chief Economist Why AI Has Two Huge Tails — And Which One Wins

The SpaceX IPO… What Happens When $1.75 Trillion Meets 4% Float

The SpaceX IPO presents significant market structure challenges, acting as a volatility catalyst due to its massive valuation and limited initial float. Accelerated index inclusion rules force passive funds to buy shares, creating unpredictable supply and demand dynamics that complicate traditional price discovery. Whi...

Tech Spending Has a Cash Problem | Jim Paulsen on the Two Signals That Could Trigger a Correction

He Quantified 200 Years of Disruption | Kai Wu on Separating Software Survivors from Value Traps