‘If you can get a dividend higher than the yield on ten-year debt, it’s an opportunity we haven’t seen in our lifetime. On a five-year horizon, investing in large multinationals with high dividends will have a large payday’ said Lawrence Fink, CEO of Black Rock.
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If you want to insulate yourself from the daily gyrations of cryptocurrency but still gain exposure to the economic infrastructure that supports it, there is a clear historical lesson in the rise and collapse of Silvergate Capital Corporation (SICPQ). You never needed to open a cold wallet or custody a digital asset to participate in […]
Mad Hedge Biotech and Healthcare Letter January 22, 2026 Fiat Lux Featured Trade: (THE HIGH COST OF BEING FIRST) (NVO), (LLY)
There is a predictable arc to every great pharmaceutical story. First comes disbelief, then euphoria, then inevitability, and finally punishment for having believed too much of your own press. Novo Nordisk (NVO) reached that final phase in 2025, not because semaglutide stopped working, but because investors forgot how brutally unforgiving this business becomes once expectations […]
Global Market Comments January 22, 2026 Fiat Lux Featured Trade: (FRIDAY, FEBRUARY 13, 2026 ANTARCTICA STRATEGY LUNCHEON) (A CHEAP HEDGE FOR THIS MARKET), ($VIX), (VXX), (SPY), (GS), (GLD)
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Come join me for lunch at the Mad Hedge Fund Trader’s Global Strategy Luncheon, which I will be conducting off the coast of Antarctica on Friday, February 13, 2026. The meeting will take place on a Celebrity cruise that departs for Buenos Aires, Argentina on Saturday, January 31. I just checked, and there are […]
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The S&P 500 is now at an all-time high of 7,000 and is showing definitive signs of rolling over. So financial advisors, pension fund managers, and cautious individuals have been ringing me up asking what the best way is to hedge the heady 84% gains of the past three years. You can forget about buying […]
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“Incentive structures work, so you have to be very careful about what you incent people to do because various incentive structures create all sorts of consequences which you can’t anticipate,” said Apple founder Steve Jobs.
SAN FRANCISCO – In a comprehensive strategy update that signals a major shift from experimental research to industrial-scale utility, OpenAI’s Chief Financial Officer Sarah Friar announced that 2026 will be the company’s year of “practical adoption.” The directive, outlined in a company blog post on January 18, 2026, marks a pivotal moment for the artificial […]
Software is starting to hurt, and the results are not pretty. Many industries have been damaged by AI and many have been non-tech industries. Examples are found everywhere. Now, try to process the fact that AI is starting to gut the software as a subscription business. This is not just a warning sign – this […]