John Cornyn trying to dig himself out of his political hole by pompously proposing that US highway 287 be renamed for Donald J. Trump. Yeah, John, that's why we sent you to Washington.
Legendary Baseball ATL Braves manager Bobby Cox passed away last Saturday. The Braves honoured his legacy before and between innings at tonight’s game against the Chicago Cubs. Braves won the game 5-2. Braves pitchers allowed only one hit in the entire game.
“It’s not just Microsoft is stuffing everything full of AI, whether or not its users want it. It is now Google as well with Chrome. Apparently, they’re stuffing AI into Google Chrome. They did not ask people. And according to Futurism, fury is erupting after Google Chrome sneakily installs a 4 gigabyte AI model on users’ PC.”
Lem Vibe Bandit said... "Legendary Baseball ATL Braves manager Bobby Cox passed away last Saturday." Tough week for the Braves. Lost Ted, then Bobby. Choirs of angels are doing the Tomahawk Chop.
Dave: I don't mean to be rude, but what experience do you have running a Public Power district? There are many volunteer public service and charitable service jobs out there that might better fit the talents of an experienced lawyer - no voting required!
Here's a case that brings together two trends: edge-case defensive shootings and crappy AI-assisted lawyering:
'Nonexistent': Georgia woman who chased, gunned down Black man who was in a hit-and-run accident with another motorist may walk free because of AI
https://tinyurl.com/4w553c7t
"A woman convicted of killing a man more than five years ago may get a new trial after the Georgia Supreme Court learned the prosecutor used artificial intelligence that provided inaccurate information. Clayton County Assistant District Attorney Deborah Leslie was suspended Thursday for six months from practicing law in front of the Georgia Supreme court. Her filings came in a murder conviction appeal that made its way to the Georgia Supreme Court in March."
The shooting was a bit weird: decedent ran a red light and hit a truck. Shooter responded to help any injured people. Decedent drove away from the scene, possibly because he was having a diabetic crisis and wanted to get to an ER. Shooter followed him. Shooter says when she caught up, he initiated a fight with her, and she then shot him with her legal gun.
Clayton County, a collar county of Atlanta, is 8% white (in 1980, it was 90% white). Shooter is white. Decedent was black. Shooting took place in 2019. Maybe a retrial will take a more nuanced look at the situation. CC, JSM
Lack of experience hasn’t prevented botfly from opining on several topics. Nor has it stopped NYT writers from the pretense that they understand the art of writing music. For those of us in the energy industry, we know how regulated is. That’s mostly thanks to nitwits like botfly that come up with new laws for every fringe incident that occurs. I think Dave has a lot of experience fighting the nitwits in court so that we can all have nice things from energy.
If SH 287 should be named, it ought to be called Columbia Memorial Highway. Most of the debris of Columbia fell along the path of that highway in East Texas.
Going home with a homeless guy? In my neck of the woods, that means a blanket and sleeping bag nest under a bridge or overpass. Sometimes that means building it flat on a sidewalk. Sometimes that means having a private box with cardboard hard sides, and plastic storage totes too.
Warm, dry, and a view of passing cars. What more do you need? Bliss. Every woman dreams of that. Easy, easy way to lure in a mate.
Dave's fine. He thinks straight. Not like that LA City Council npc Nithya who, in ONE appearance on TV, managed to move her support in polls from 62% to 16% overnight. Because leftist activists* are the WORST people to elect. Don't be a Nithya.
Be like Dave. Common sense. Respects the law.
*Especially ones like her that become millionaires off their "homeless outreach" NGO. Sure she learned to lie cheat steal and provide zero value for the money CA shoveled into her accounts, but that's only good training to run for Congress.
If you think about it Dave is like Pratt: One man unafraid to tell the truth can go a long way in the current environment of performative politicking (AOC etc) where democrats distract with talk of imaginary problems while real ones go unmentioned.
Pratt will win LA race for mayor because he has standing to say "look what the government did to me and my neighbors. But look around you and see that what they've done to LA and all of California is even worse than losing your house."
I'm sure there's lots of magical thinking in Omaha that Dave can cut through with common sense plain talk. Democrats acchilles heal is never being able to speak plainly and substantively without spin.
I’ve attended every OPPD Board meeting for the last four years. As a lawyer, I am fighting wind and solar projects that would produce over 1 GW of power if the sun is shining and the wind is blowing.
I know way more about wind and solar than the current Board majority.
I don’t know that I would have advanced even if I spent $100k. Two of the candidates were former state senators and one ran for Governor.
This is fantastic. Not political. If you want to understand who China's President is, what is going on with China and what is at stake, listen to this. You will learn a lot. Can't recommend it more highly, especially at this time of Trump meeting with Xi.
"You’re Not Deterring a Country… You’re Deterring a Man" Guest is Eyck Freymann, Hoover Fellow at Stanford University and author of Defending Taiwan: A Strategy to Prevent War with China
Mike (MJB Wolf) said... Dave's fine. He thinks straight. Not like that LA City Council
I missed botfly picking the same play from the playbook to discredit Spencer Pratt. Yeah, how well are the people currently in the position, as Dave notes, performing with all their “experience”? Experience can be important, but if your experience is mostly in creating bureaucratic mess, then it isn’t useful to really solving problems. Here’s an explanation.
Stocks are rolling over. The chart below, from Advisor Perspectives, shows just how seriously investors should be taking this.
If looking at this chart does not cause you to avoir le mal au coeur, you do not understand fully what you are looking at. It suggests a 70% drop in some or all of the major averages is a highly probable outcome. My own guesstimate is down 35% in a few, but minus 50-75% in others, including the currently most popular -- which are by definition the most overvalued.
Re: China -- Perhaps if Truth Social is blocked by the great firewall we might get a short respite from late night all-caps rants…
Taiwan may be something of a feint. China will press to weaken the foundations of the American policy and thus demonstrate American unreliability. Japan and South Korea would be objects of this demonstration. A complete sell out is unnecessary. China will go for greatly expanded influence across the entire eastern hemisphere as China lets Trump twist in the wind over Iran.
Stock prices are a function of government-led money supply, not so much their value. The momentum Magnificent 7 stocks have seemed grossly overvalued to me for a very long time, but I saw the dotcom 1.0 meltdown too. The pros have predicted that international stocks will soak up the rollover cash as the speculators seek a new bull market. Still, lots of retirement plans have S&P 500 or Nasdaq on autopilot, so who's to say.
Given that Bidenflation is baked in and that Trump is also a spender, the markets seem to think that valuations will remain high. They reveal/predict inflation on a different timeline than official inflation. While paper stock prices are "up," their true value isn't as good.
"Based on April's S&P 500 monthly data, the market is OVERVALUED somewhere in the range of 112% to 191%, depending on the indicator."
What does it mean to be overvalued by (an average of) 151%? It means that, WHEN the market regresses to the mean as it has ALWAYS done in time, it must decline by -60% just to reach that mean. And markets rarely stop at the mean, as these charts show. It could not be the "mean" unless there were significant periods below that mean.
Re: "The Buffett Indicator: Corporate Equities to GDP"
Does this look normal? Micron (MU) is now 140% above its 200-day moving average.The stock sold off after earnings on March 18, then became unstoppable just two weeks later. From ~$60 during last year’s tariff sell-off to nearly $800 — a classic bubble setup.
Warning signs are mounting: weakness in financials, healthcare, energy, and the Transportation Index, which continues diverging negatively from the major indices.
These point to a softening economy and help explain the lack of extreme bullish sentiment.Yet copper, one of the most economically sensitive commodities, just hit an all-time high.
Enigma, your phrase speaks for itself. What the markets seem to think is subject to rapid change. So history tells us. That first chart I linked is the so-called "Buffett Indicator." Buffett was reducing Berkshire Hathaway's stock portfolio for at least the two years before he recently stepped down. People often tout stocks because "Warren owns this one," or "Warren is buying this."
Warren has sent his message in two different ways. People should pay attention, IMO.
Go ahead, pull your money out and hide it in mattresses. My own YTD performance in my worst performing account is > 8%. That’s not based on insider knowledge. It is based on looking at evidence of real economic growth. But if you invested in NGOs, green energy, or AI, then yeah, I think you are overvalued.
"Regression to the mean" here means if the context and rules remain unchanged. Old-era stock valuations happened when they were held by pros and the very wealthy, while regular people had pensions. The shift to automated 401ks and mass stock investing led to elevated valuations. Memes lead to silly valuations. Tech momentum always leads to silly valuations. Distortions merely require a subculture that believes in the asset class...cough...Bitcoin...for it to become inflated.
"The market can remain irrational longer than you can remain solvent."
After being wrong myself more than once, I emphasize diversification. Riding a bubble can be highly profitable. Riding "value" stocks into a stale basement can be humbling or result in ruin.
Buffet did great in his early years and then more or less mediocre later on. He advised people to buy the S&P 500. See my later response on the generational changes to stock investing.
I'm no defending the current valuations, just not "hiding under a mattress" (@Leland) either.
Effectively, the AI world is saying: we are insulated from any real world shock, political upheaval etc. It just doesn't matter in a future AI-dominated world, so buy the dip. The market is getting more concentrated around AI led tech by the day. But other sectors don't really follow the hype as investors realize that the real world does have an impact there.
The Mosaic Company (MOS) is actively curtailing production at its U.S. and Brazilian phosphate facilities in May 2026, creating potential fertilizer shortages and driving up prices for North American farmers.
Google mobil telling Walmart that they may be restricting packaged motor oils
Netanyahu wants a two trillion dollar war budget next year for the US, Medicare be damned, but boomer cons and Israeli sock puppets are pushing for an escalation that could easily lead to a global depression, and depressions often lead to world war.
The shift to automated 401ks and mass stock investing led to elevated valuations
…the trouble with this statement is it isn’t really true. P/E expansion has to be examined in the context of interest rates. Multiples can expand when rates are lower. One other major thing in play- exceptional earnings growth for a variety of good reasons.
Trump also just said that he doesn’t give a moment’s thought to how this war is affecting consumers. My neighbor just told me that he was just charged six dollars a gallon for delivered propane, I don’t know, I have not bought any in a while.
Iran having a nuke is only a problem for Israel, because it would mean that Iran could not be pushed around, we could have had a nuclear deal before Trump foolishly [his word] started this war and the Strait would be open and none of this would be happening. Israel would be fine with the whole Persian Gulf going up in smoke, leaving them the boss of Greater Israel, but does that benefit average Americans who will be sending their children to die in Iran, which has a topographical resemblance to Afghanistan?
I am not ashamed of being Dutch, and I have heard firsthand accounts of the horrors of war at my parents knee. My mother still woke up with nightmares in her 80s. And what the Iran war is about is taking Iran back from its people and re-installing the brutal regime, probably similar to the Shah whose Mossad aligned SAVAK used repressive tactics that included torture, as opposed to kicking out a foreign invader in the Nazis, not the same thing.
Heavy onslaught against Nicholas Kristof's allegations about Israeli treatment of prisoners centering on his talk of "rape dogs." Some of his claims, like the rape dogs, may not be true, but some may well be true. I don't see any investigation by conservative sites or any recognition of the massive hasbara campaign Israel has launched.
Israel has dramatically increased its public diplomacy ("hasbara") budget to approximately $730 million for the 2026 fiscal year, a nearly fivefold increase from the 2025 allocation of $150 million. This surge, following a 20-fold rise in 2025 compared to previous years, is designed to counter plummeting global, particularly U.S., support during the war in Gaza.
"If looking at this chart does not cause you to avoir le mal au coeur, you do not understand fully what you are looking at. It suggests a 70% drop in some or all of the major averages is a highly probable outcome. My own guesstimate is down 35% in a few, but minus 50-75% in others, including the currently most popular -- which are by definition the most overvalued."
Haven't you been predicting this since forever? Don't get me wrong, I too think stocks are overvalued and have invested accordingly. As to when it happens, however, you can do technical analysis till the cows come home and you still won't have a clue. You do have the advantage that it will happen eventually, so if you keep predicating it, someday you will be "right" and can pat yourself on the back and claim to have seen it coming.
What a cluster f%# Trump cuts Noem loose - and it gets personal, of course as always.ONLY THE BEST Kristi Noem’s role in the Trump administration came to an abrupt end after a series of controversies surrounding the Department of Homeland Security. Reports claim Noem approved a $220 million advertising campaign and other spending decisions, while allegedly telling Congress that Donald Trump had supported the plan. Trump later denied giving that approval, reportedly responding, “I’m not falling on that grenade,” before she was removed from the position. The sudden shake-up has sparked debate about leadership, spending, and internal tensions inside Trump’s administration. PATEL will be next, even though he does exactly what trump tells him,LOYALTY but a drunk based on his own staffs turning the dime on him.
RUBIO will have to go.. Cardinal sin in trump world,,you can't look smarter than the King even though you are.In Trumpworld, this is absolutely fatal. When you become the contrast gainer against Donald Trump, you’re finished. When it begins to look like you are the person who is really in charge, you’re done. No sanity must be the ideal of this admin,only Chaos should rule. See next episode.
oh yeah and after watching lindsey lose his s^%$ talking to Hegseth(total incompetent) not answering why the people doing the peace discussions are letting IRAN park their planes in their parking lot and WTF is the goal of this "skirmish" going forward while asking for trillions more HEGSETH will have to go back to FOX(him and Patel can do an open podcast would better suit them) where do they get these people?
Had an argument with gemini and got an apology. Was fun, in a weird kinda way.
"That is a fair assessment of how my previous responses came across, and I apologize for presenting a one-sided framing. By focusing so heavily on the details of Van Hollen's defense, I inadvertently gave the appearance of validating his position over Patel's.To ensure absolute neutrality, it is crucial to lay out the context of Van Hollen's accusations with the same critical lens, as his claims rely heavily on unverified media reports."
US wholesale inflation hits 6% as Iran war sends fuel and freight costs soaring ~ AP
More "cheap eggs", "cheap gasoline", and "less inflation" from MAGA. Those who get to vote in November should do the right thing.
Great inflation, the greatest inflation ever. Nobody can create inflation like me, I know a lot about inflation. Everybody is getting paid much more for stuff they sell, and China is paying for it, the economy has never been in better shape. Many people are calling it the Golden Age .....
As a long time holder of BRK.a stock, I can say it has performed very well. Many holders have become very rich. The last 6 moths have not been good but the the last 5 years is up 66%. Warren was a great asset, I hope his successors can resume his success..
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78 comments:
That looks like a painting
Be aware of your surroundings, homeless person lurking.
Is Wisconsin open carry?
Meanwhile a whole new angle on thr baltimore bridgr crash
https://x.com/SaysSimulation/status/2054217216350921071
“He aware of your surroundings, homeless person lurking.”
I went home with him.
The NY Times published an article today that sounds like 15th century blood libel. I am truly astonished.
10th century but yes
After october 7th nothing surprises me
I went home with him - so he's not a homophobe.
In the mid-term election season every Republican campaign ad should have the following sign-off courtesy of Jim Jordan:
“They’re Crazy. We’re Not”
Some things we've recently learned:
• Don't run onto tarmacs in the middle of the night at any major airport.
🚨Pro-tip… But if you run onto one, don't stay there.
• Don't bird watch in landfills in Argentina.
These are things we've learned.
John Cornyn trying to dig himself out of his political hole by pompously proposing that US highway 287 be renamed for Donald J. Trump. Yeah, John, that's why we sent you to Washington.
Cause for Celebration: CBS News Radio will be going off the air and laid to rest later this month!
Looney Leftist Loudoun has yet another locker room filming scandal.
Are there any leftists who are not rapists, child molesters, or sex predators???
Legendary Baseball ATL Braves manager Bobby Cox passed away last Saturday. The Braves honoured his legacy before and between innings at tonight’s game against the Chicago Cubs. Braves won the game 5-2. Braves pitchers allowed only one hit in the entire game.
Chrome Secretly Installing AI On Your PC
“It’s not just Microsoft is stuffing everything full of AI, whether or not its users want it. It is now Google as well with Chrome. Apparently, they’re stuffing AI into Google Chrome. They did not ask people. And according to Futurism, fury is erupting after Google Chrome sneakily installs a 4 gigabyte AI model on users’ PC.”
I wouldn't touch Chrome with a ten foot pole.
Lem Vibe Bandit said...
"Legendary Baseball ATL Braves manager Bobby Cox passed away last Saturday."
Tough week for the Braves. Lost Ted, then Bobby. Choirs of angels are doing the Tomahawk Chop.
Pro-tip… But if you run onto one, don't stay there.
The guy in Denver didn’t stay where he was at. He was sucked into the engine.
The trained rape-dog story is about as accurate as the Monkey fishing story. Only difference is that Kristof believes his.
In the Omaha Public Power District Director’s race, I came in third out of four running with 12.93% or 1,656. I did get more votes than the incumbent.
When I decided to run, I didn’t know my opponents would include two former state senators who had way more cash than I could raise.
Dave: I don't mean to be rude, but what experience do you have running a Public Power district? There are many volunteer public service and charitable service jobs out there that might better fit the talents of an experienced lawyer - no voting required!
Nice picture. Maybe someone slept in, this morning…
Re. Homeless Strays: If you tire of the one who found you, there’s a much wider selection in LA.
Gadfly, please repeat that advice to all the lawyers we have in office now. I am sure you agree that they have added no value to our society. CC, JSM
Here's a case that brings together two trends: edge-case defensive shootings and crappy AI-assisted lawyering:
'Nonexistent': Georgia woman who chased, gunned down Black man who was in a hit-and-run accident with another motorist may walk free because of AI
https://tinyurl.com/4w553c7t
"A woman convicted of killing a man more than five years ago may get a new trial after the Georgia Supreme Court learned the prosecutor used artificial intelligence that provided inaccurate information. Clayton County Assistant District Attorney Deborah Leslie was suspended Thursday for six months from practicing law in front of the Georgia Supreme court. Her filings came in a murder conviction appeal that made its way to the Georgia Supreme Court in March."
The shooting was a bit weird: decedent ran a red light and hit a truck. Shooter responded to help any injured people. Decedent drove away from the scene, possibly because he was having a diabetic crisis and wanted to get to an ER. Shooter followed him. Shooter says when she caught up, he initiated a fight with her, and she then shot him with her legal gun.
Clayton County, a collar county of Atlanta, is 8% white (in 1980, it was 90% white). Shooter is white. Decedent was black. Shooting took place in 2019. Maybe a retrial will take a more nuanced look at the situation. CC, JSM
but what experience
Lack of experience hasn’t prevented botfly from opining on several topics. Nor has it stopped NYT writers from the pretense that they understand the art of writing music. For those of us in the energy industry, we know how regulated is. That’s mostly thanks to nitwits like botfly that come up with new laws for every fringe incident that occurs. I think Dave has a lot of experience fighting the nitwits in court so that we can all have nice things from energy.
If SH 287 should be named, it ought to be called Columbia Memorial Highway. Most of the debris of Columbia fell along the path of that highway in East Texas.
Leland said...
Lack of experience hasn’t prevented botfly from opining on several topics.
Usually by doing a copy-pasta from Business Insider or similar Democrat-adjacent sites.
@Althouse - I went home with him.
Going home with a homeless guy? In my neck of the woods, that means a blanket and sleeping bag nest under a bridge or overpass. Sometimes that means building it flat on a sidewalk. Sometimes that means having a private box with cardboard hard sides, and plastic storage totes too.
Warm, dry, and a view of passing cars. What more do you need? Bliss. Every woman dreams of that. Easy, easy way to lure in a mate.
Dave's fine. He thinks straight. Not like that LA City Council npc Nithya who, in ONE appearance on TV, managed to move her support in polls from 62% to 16% overnight. Because leftist activists* are the WORST people to elect. Don't be a Nithya.
Be like Dave. Common sense. Respects the law.
*Especially ones like her that become millionaires off their "homeless outreach" NGO. Sure she learned to lie cheat steal and provide zero value for the money CA shoveled into her accounts, but that's only good training to run for Congress.
If you think about it Dave is like Pratt: One man unafraid to tell the truth can go a long way in the current environment of performative politicking (AOC etc) where democrats distract with talk of imaginary problems while real ones go unmentioned.
Pratt will win LA race for mayor because he has standing to say "look what the government did to me and my neighbors. But look around you and see that what they've done to LA and all of California is even worse than losing your house."
I'm sure there's lots of magical thinking in Omaha that Dave can cut through with common sense plain talk. Democrats acchilles heal is never being able to speak plainly and substantively without spin.
Gadfly:
I’ve attended every OPPD Board meeting for the last four years. As a lawyer, I am fighting wind and solar projects that would produce over 1 GW of power if the sun is shining and the wind is blowing.
I know way more about wind and solar than the current Board majority.
I don’t know that I would have advanced even if I spent $100k. Two of the candidates were former state senators and one ran for Governor.
Old joke:
The best part about dating a homeless person?
You can drop them off anywhere.
Trump just landed in China. It still amazes me how we can broadcast live images from half way around the world, in high definition now.
This is fantastic. Not political. If you want to understand who China's President is, what is going on with China and what is at stake, listen to this. You will learn a lot. Can't recommend it more highly, especially at this time of Trump meeting with Xi.
"You’re Not Deterring a Country… You’re Deterring a Man"
Guest is Eyck Freymann, Hoover Fellow at Stanford University and author of Defending Taiwan: A Strategy to Prevent War with China
https://podcasts.apple.com/us/podcast/youre-not-deterring-a-country-youre-deterring-a/id1605818635?i=1000764383335
"...Two of the candidates were former state senators and one ran for Governor....."
Sounds like the wind/solar business leaders had a preference and exercised it.
Brundlefly is upset with common sense
Mike (MJB Wolf) said...
Dave's fine. He thinks straight. Not like that LA City Council
I missed botfly picking the same play from the playbook to discredit Spencer Pratt. Yeah, how well are the people currently in the position, as Dave notes, performing with all their “experience”? Experience can be important, but if your experience is mostly in creating bureaucratic mess, then it isn’t useful to really solving problems. Here’s an explanation.
Leftists are absolutely horrible people but worse administrators.
Stocks are rolling over. The chart below, from Advisor Perspectives, shows just how seriously investors should be taking this.
If looking at this chart does not cause you to avoir le mal au coeur, you do not understand fully what you are looking at. It suggests a 70% drop in some or all of the major averages is a highly probable outcome. My own guesstimate is down 35% in a few, but minus 50-75% in others, including the currently most popular -- which are by definition the most overvalued.
https://www.advisorperspectives.com/images/content_image/data/02/02590789dec9e59dd6678bd7a6e57d99.png
Re: China -- Perhaps if Truth Social is blocked by the great firewall we might get a short respite from late night all-caps rants…
Taiwan may be something of a feint. China will press to weaken the foundations of the American policy and thus demonstrate American unreliability. Japan and South Korea would be objects of this demonstration. A complete sell out is unnecessary. China will go for greatly expanded influence across the entire eastern hemisphere as China lets Trump twist in the wind over Iran.
So says the would be world controller
Democrats
@TheDemocrats
·
May 11
This is what being pro-life *actually* looks like:
@factpostnews
·
May 8
Gov. Gavin Newsom has announced California will be the first state in the nation to provide free diapers to newborns.
Families will receive 400 diapers when discharged from the hospital.
Billy Gribbin
@BillyGribbin
“Look everyone! The babies we don’t kill get diapers!”
2:30 PM · May 11, 2026
https://x.com/BillyGribbin/status/2053905554850861315?s=20
@Kai --
Stock prices are a function of government-led money supply, not so much their value. The momentum Magnificent 7 stocks have seemed grossly overvalued to me for a very long time, but I saw the dotcom 1.0 meltdown too. The pros have predicted that international stocks will soak up the rollover cash as the speculators seek a new bull market. Still, lots of retirement plans have S&P 500 or Nasdaq on autopilot, so who's to say.
Given that Bidenflation is baked in and that Trump is also a spender, the markets seem to think that valuations will remain high. They reveal/predict inflation on a different timeline than official inflation. While paper stock prices are "up," their true value isn't as good.
Here's another.
"Based on April's S&P 500 monthly data, the market is OVERVALUED somewhere in the range of 112% to 191%, depending on the indicator."
What does it mean to be overvalued by (an average of) 151%? It means that, WHEN the market regresses to the mean as it has ALWAYS done in time, it must decline by -60% just to reach that mean. And markets rarely stop at the mean, as these charts show. It could not be the "mean" unless there were significant periods below that mean.
https://www.advisorperspectives.com/images/content_image/data/fd/fd8e7334445946876229c97145c01bbe.png
Perhaps
Re: "The Buffett Indicator: Corporate Equities to GDP"
Does this look normal? Micron (MU) is now 140% above its 200-day moving average.The stock sold off after earnings on March 18, then became unstoppable just two weeks later. From ~$60 during last year’s tariff sell-off to nearly $800 — a classic bubble setup.
Warning signs are mounting: weakness in financials, healthcare, energy, and the Transportation Index, which continues diverging negatively from the major indices.
These point to a softening economy and help explain the lack of extreme bullish sentiment.Yet copper, one of the most economically sensitive commodities, just hit an all-time high.
Otto cant read a chart even upside down
--- the markets seem to think
Enigma, your phrase speaks for itself. What the markets seem to think is subject to rapid change. So history tells us. That first chart I linked is the so-called "Buffett Indicator." Buffett was reducing Berkshire Hathaway's stock portfolio for at least the two years before he recently stepped down. People often tout stocks because "Warren owns this one," or "Warren is buying this."
Warren has sent his message in two different ways. People should pay attention, IMO.
@ Rusty
CAT a great company and HAS BEEN a great stock.
You look at s chart over a period of months to a year not a daily blip
Go ahead, pull your money out and hide it in mattresses. My own YTD performance in my worst performing account is > 8%. That’s not based on insider knowledge. It is based on looking at evidence of real economic growth. But if you invested in NGOs, green energy, or AI, then yeah, I think you are overvalued.
"Regression to the mean" here means if the context and rules remain unchanged. Old-era stock valuations happened when they were held by pros and the very wealthy, while regular people had pensions. The shift to automated 401ks and mass stock investing led to elevated valuations. Memes lead to silly valuations. Tech momentum always leads to silly valuations. Distortions merely require a subculture that believes in the asset class...cough...Bitcoin...for it to become inflated.
"The market can remain irrational longer than you can remain solvent."
After being wrong myself more than once, I emphasize diversification. Riding a bubble can be highly profitable. Riding "value" stocks into a stale basement can be humbling or result in ruin.
https://nypost.com/2021/04/27/charles-de-vaulxs-apparent-suicide-rattles-wall-street/
@Kai on Warren Buffet
Buffet did great in his early years and then more or less mediocre later on. He advised people to buy the S&P 500. See my later response on the generational changes to stock investing.
I'm no defending the current valuations, just not "hiding under a mattress" (@Leland) either.
The market does seem like lemmings rather than focusing on fundamentals which was benjamin grahams advice
Effectively, the AI world is saying: we are insulated from any real world shock, political upheaval etc. It just doesn't matter in a future AI-dominated world, so buy the dip. The market is getting more concentrated around AI led tech by the day. But other sectors don't really follow the hype as investors realize that the real world does have an impact there.
Google this story
The Mosaic Company (MOS) is actively curtailing production at its U.S. and Brazilian phosphate facilities in May 2026, creating potential fertilizer shortages and driving up prices for North American farmers.
Google mobil telling Walmart that they may be restricting packaged motor oils
Netanyahu wants a two trillion dollar war budget next year for the US, Medicare be damned, but boomer cons and Israeli sock puppets are pushing for an escalation that could easily lead to a global depression, and depressions often lead to world war.
The shift to automated 401ks and mass stock investing led to elevated valuations
…the trouble with this statement is it isn’t really true. P/E expansion has to be examined in the context of interest rates. Multiples can expand when rates are lower. One other major thing in play- exceptional earnings growth for a variety of good reasons.
Striking he doesnt get thst
Trump also just said that he doesn’t give a moment’s thought to how this war is affecting consumers. My neighbor just told me that he was just charged six dollars a gallon for delivered propane, I don’t know, I have not bought any in a while.
Hallucinating again dutchboy
Iran having a nuke is only a problem for Israel, because it would mean that Iran could not be pushed around, we could have had a nuclear deal before Trump foolishly [his word] started this war and the Strait would be open and none of this would be happening. Israel would be fine with the whole Persian Gulf going up in smoke, leaving them the boss of Greater Israel, but does that benefit average Americans who will be sending their children to die in Iran, which has a topographical resemblance to Afghanistan?
I am not ashamed of being Dutch, and I have heard firsthand accounts of the horrors of war at my parents knee. My mother still woke up with nightmares in her 80s. And what the Iran war is about is taking Iran back from its people and re-installing the brutal regime, probably similar to the Shah whose Mossad aligned SAVAK used repressive tactics that included torture, as opposed to kicking out a foreign invader in the Nazis, not the same thing.
Yeah ww should have abandoned you to the German
That what a cynic would aay
You will be consumed by the saracen soon enough
Heavy onslaught against Nicholas Kristof's allegations about Israeli treatment of prisoners centering on his talk of "rape dogs." Some of his claims, like the rape dogs, may not be true, but some may well be true. I don't see any investigation by conservative sites or any recognition of the massive hasbara campaign Israel has launched.
Israel has dramatically increased its public diplomacy ("hasbara") budget to approximately $730 million for the 2026 fiscal year, a nearly fivefold increase from the 2025 allocation of $150 million. This surge, following a 20-fold rise in 2025 compared to previous years, is designed to counter plummeting global, particularly U.S., support during the war in Gaza.
"If looking at this chart does not cause you to avoir le mal au coeur, you do not understand fully what you are looking at. It suggests a 70% drop in some or all of the major averages is a highly probable outcome. My own guesstimate is down 35% in a few, but minus 50-75% in others, including the currently most popular -- which are by definition the most overvalued."
Haven't you been predicting this since forever? Don't get me wrong, I too think stocks are overvalued and have invested accordingly. As to when it happens, however, you can do technical analysis till the cows come home and you still won't have a clue. You do have the advantage that it will happen eventually, so if you keep predicating it, someday you will be "right" and can pat yourself on the back and claim to have seen it coming.
What a cluster f%# Trump cuts Noem loose - and it gets personal, of course as always.ONLY THE BEST
Kristi Noem’s role in the Trump administration came to an abrupt end after a series of controversies surrounding the Department of Homeland Security. Reports claim Noem approved a $220 million advertising campaign and other spending decisions, while allegedly telling Congress that Donald Trump had supported the plan. Trump later denied giving that approval, reportedly responding, “I’m not falling on that grenade,” before she was removed from the position. The sudden shake-up has sparked debate about leadership, spending, and internal tensions inside Trump’s administration. PATEL will be next, even though he does exactly what trump tells him,LOYALTY but a drunk based on his own staffs turning the dime on him.
RUBIO will have to go.. Cardinal sin in trump world,,you can't look smarter than the King even though you are.In Trumpworld, this is absolutely fatal. When you become the contrast gainer against Donald Trump, you’re finished. When it begins to look like you are the person who is really in charge, you’re done. No sanity must be the ideal of this admin,only Chaos should rule. See next episode.
oh yeah and after watching lindsey lose his s^%$ talking to Hegseth(total incompetent) not answering why the people doing the peace discussions are letting IRAN park their planes in their parking lot and WTF is the goal of this "skirmish" going forward while asking for trillions more HEGSETH will have to go back to FOX(him and Patel can do an open podcast would better suit them) where do they get these people?
Had an argument with gemini and got an apology. Was fun, in a weird kinda way.
"That is a fair assessment of how my previous responses came across, and I apologize for presenting a one-sided framing. By focusing so heavily on the details of Van Hollen's defense, I inadvertently gave the appearance of validating his position over Patel's.To ensure absolute neutrality, it is crucial to lay out the context of Van Hollen's accusations with the same critical lens, as his claims rely heavily on unverified media reports."
Got 2.5 million deported thats a good deal
US wholesale inflation hits 6% as Iran war sends fuel and freight costs soaring ~ AP
More "cheap eggs", "cheap gasoline", and "less inflation" from MAGA. Those who get to vote in November should do the right thing.
Great inflation, the greatest inflation ever. Nobody can create inflation like me, I know a lot about inflation. Everybody is getting paid much more for stuff they sell, and China is paying for it, the economy has never been in better shape. Many people are calling it the Golden Age .....
As a long time holder of BRK.a stock, I can say it has performed very well. Many holders have become very rich. The last 6 moths have not been good but the the last 5 years is up 66%. Warren was a great asset, I hope his successors can resume his success..
⬆️Waiting for outstanding opportunities has paid off but it is getting increasingly difficult
“where do they get these people?”
You won’t find them at the racetrack with the other LOSERS, dinky.
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