Energy is often thought of in silos: By type of energy, by source, by class or by use. I think that for us to collectively reach any meaningful goals, it would be useful to think of it more holistically, more universally.

There’s too much money in the U.S. economy. On the surface, that doesn’t sound like a bad problem to have. Let’s dig a little deeper to see why I’m concerned.

Not only are there sources of hidden leverage, but what’s being leveraged — stock options — are gaining enormous momentum, to the point where options deals often outpace actual share trades on any given day

Although the Evergrande group’s $300 billion debt is a drop in the bucket on a global scale, whether this is the first domino to fall in a larger economic reset is the point that has analysts on edge.

For decades, the leading reason that people moved was for work. Today, though, people are looking for more space — bigger homes, more home-based amenities, larger lots.

In the course of less than two years, we’ve seen another great wave of migration in the U.S. In the blink of an eye, they’ve uprooted life as we know it. Or have they?

Successful traders are notoriously void of emotion in their work -- it’s essential to do the job well.

The media frenzy around skyrocketing prices and the competitive situations that many buyers face tend to mask some of the realities, one of which is that there are still affordable homes out there, albeit maybe a bit further than just an extra subway stop or highway exit.

As July wuly wraps up, I think you’ll need some fortitude because, we may be in for a bit of a bumpy ride in the coming weeks.

The only thing that’s predictable this week is ongoing uncertainty. This week started with a drop of 700+ points, then rebounded a day later with nearly an equal gain. By the time this posts and you read it, it’s anyone’s guess as to where we’ll be.

Gross domestic product (GDP) figures point to the strongest growth in years -- so strong, in fact, that the kinds of gains we’ve seen the last several years and the last 12 months in particular simply aren’t sustainable.

What will be the determining factor, the major event, that cools things off?

“Typical” expectations of returns and valuations are all-but-extinct from our investing vocabulary. “Outliers” can’t even be outliers anymore, not when everything seems to be an outlier.

With cryptocurrencies down $1.3 trillion in value since their relatively recent highs, for many investors, crypto has quickly become the new kryptonite, sapping us of our superpowers.

“It always comes back, but it comes back differently.” What this means is that if you take just about any behavior or commodity or economy, after a significant disruption—such as a natural disaster, a war or a pandemic—things always come back, but they aren’t the same.

Hidden leverage is everywhere—and while we can’t put our fingers on it and can’t assign a dollar amount to it, it’s there and looming large. Mike explains…

As Covid cases continue to decline, the markets are pushing up and real estate sales prices are still reaching new highs. Just as what falls will rise, what goes up must come down. And with record numbers of people in America jumping into the investment sphere and going full-speed ahead, the potential downside of hidden leverage increases my agita more than just a bit.

Looking ahead, I think companies that make tangible things—either supplies for other goods or finished products—are likely to be decently positioned. Tech will retain strength, too, although the extreme valuations that we saw in 2020 will unwind some, simply because as we emerge from the pandemic, we won’t be completely reliant on apps to take care of every need.