Millennial Financial Intelligence
Two things happened in markets yesterday and they appear to contradict each other. The Dow Jones Industrial Average hit an all-time high. Broadcom fell 15%, its worst session in over a year, dragging the broader semiconductor index down 2.2%. AMD fell 4%. Intel fell 3%. The surface reading is that the market is healthy and …
In 1924, a Wall Street analyst named Edgar Lawrence Smith sat down to prove something obvious. Bonds were safer than stocks. Everyone knew it. The smart money knew it. The textbooks said it. His job was simply to run the numbers and confirm what the financial establishment already believed. He couldn’t do it. What Smith …
Read moreStocks beat bonds. A man proved it in 1924. The bond market is relearning it now
Right now, everything looks expensive. Stocks at record highs. Gold at record highs. Bitcoin off its peak but still historically elevated. The most rational-sounding response is: I’ll wait for a better entry point. It feels disciplined. It is almost certainly the wrong move. 7 of the 10 best trading days in the last 20 years …
Read moreWhy trying to time the market almost always makes things worse
In a normal market, gold and stocks move in opposite directions. Gold goes up when people are scared. Stocks go up when people are confident. They hedge each other. So when both hit record highs at the same time — alongside Bitcoin crossing $125,000 in late 2025 — the question stops being what to buy …
Read moreThe market is hitting record highs. Warren Buffett calls it a casino. Who’s right?
Most people are watching the Middle East conflict as a military story. But there is a second story running underneath it — one that will affect every household on the planet regardless of where they stand on the politics. Since US and Israeli strikes on Iran in early 2026, the Strait of Hormuz — through …
Read moreWhy war in the Middle East is a money problem, not just a geopolitical one
The stock market keeps hitting new highs. AI companies are valued in the trillions. Everyone seems to be winning. So why are the world’s top risk analysts quietly getting nervous? The ten largest companies in the S&P 500 now account for roughly a third of the entire index by market value — higher than the …
Read moreAsset bubble burst: the risk everyone sees but nobody wants to say out loud
The bull symbolizes a bullish market where investors believe that a stock price will increase over time. The bear symbolizes bearish market where investors believe that a stock price will decline over time. The origin of the such a symbology is not known with certainty. The most widespread explanation is because the bull is charging …