The Morning Call---AI's balance sheet time bomb

 

The Morning Call

 

t

 

The Market

         

    Technical

 

Wednesday in the charts***I can now copy ZeroHedge links for your reading pleasure

https://www.zerohedge.com/markets/megacaps-dump-earnings-bullion-bond-yields-jump-oil-puts-july-rate-hike-back-table?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4OTcwIiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDc1MTUyNSwiZXhwIjoxNzg3MzQzNTI1LCJhdWQiOiJ6aC1naWZ0In0.-tUHnatq2F_2DiKaHh_62hiAQSKH3Br-U058cMtL-H4

 

            Wednesday in the technical stats.

            https://www.barchart.com/stocks/momentum

            https://www.barchart.com/stocks/market-performance

            https://www.barchart.com/stocks/sectors/rankings

            https://www.barchart.com/stocks/signals/new-recommendations

 

            The meaning of high margin debt.

            https://trendlabs.com/this-chart-is-designed-to-scare-you/

 

            The high volatility factor is here to stay.

https://www.zerohedge.com/markets/high-factor-volatility-here-stay-goldmans-pasquariello-suggests-simplify-your-portfolio?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4OTI0Iiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDc1MDE4NCwiZXhwIjoxNzg3MzQyMTg0LCJhdWQiOiJ6aC1naWZ0In0.O9VEaEWxYgTBhGXuFMfce8fr--ipXB8eahNPz75CjGU

 

            One of these markets is wrong.

https://www.zerohedge.com/the-market-ear/one-these-markets-wrong?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4OTk2Iiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDgxMDIxOCwiZXhwIjoxNzg3NDAyMjE4LCJhdWQiOiJ6aC1naWZ0In0.-WfV55n-O89YbvhefET87RaKFVnwmUVP_tijPL5mHR8

 

Thursday morning setup: US equity futures are lower as WTI breaches $90/bbl and Brent approaches $100/bbl (Houthi escalation in the Red Sea as two Saudi tankers were struck), pushing bond yields higher with longer-dated yields seen making new highs, globally. But Alphabet's underwhelming results - while dragging down Mag7 names - are boosting Semis / AI (CapEx spend) which may mean the market is returning to its barbell of longs in AI / Semis plus Energy versus shorts in Rate-sensitives. Overnight saw oil prices extend their recent resurgence with WTI crude topping $90/bbl. The Iran-aligned Houthis said they targeted two oil tankers in the Red Sea, potentially opening up another front in the war.US forces struck Iranian military targets including maritime capabilities, missile and drone storage facilities, coastal surveillance sites, and air defense assets, Centcom said. Commodities are led by the Energy complex; Base is higher, Precious is lower, and Ags mixed. Pre-mkt, US yields are up 3-4bps across the curve with USD flat. The surge in crude prices has dragged rate-hike odds higher (July very much back on the table)...In Equities, Mag7 is weaker with all 7 names lower with GOOGL, TXN, TSLA, and IBM all lower following earnings. Semis / Memory are bid. Defensives and Energy are higher with Cyclicals mostly lower ex-Industrials which are being boosted as part of the AI theme. Utils are bid with AI outweighing higher yields. European stocks fall as technology shares are dragged lower by STMicroelectronics, which slumped 17% after disappointing with its sales outlook. Elsewhere, Nestle posted its biggest intraday drop since 2020.Stoxx 600 falls 0.6% to 642.78 with 405 members down, 184 up, and 11 unchanged. Asian shares rose as sentiment improved on expectations that regional tech hardware companies will benefit from Alphabet’s plans for more AI spending. 

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                          Weekly initial jobless claims totaled 187,000 versus forecasts of 212,000.

                          https://www.zerohedge.com/personal-finance/aipocalypse-no-initial-jobless-claims-collapse-lowest-1969

 

The June Chicago national activity index came in at -0.2 versus expectations of +0.14.

                       

                        International

 

The Q3 UK business optimism index was -36 versus estimates of -40; the Q3 industrial trends orders index was -45 versus -40.

 

                        Other

 

                          The middle class isn’t disappearing; it is getting richer.

                          https://committeetounleashprosperity.com/hotlines/middle-class-isnt-disappearing-its-getting-richer/

                       

                          The good news about the economy.

                          https://www.carsongroup.com/insights/blog/dont-worry-be-happy/

 

                          The case for a weaker dollar (but I don’t think it a very strong one).

                          https://giftarticle.ft.com/giftarticle/actions/redeem/6f81f3d3-e6bf-46da-87f7-893a64bc4f54

 

            Iran

 

              Overnight news.

              https://www.zerohedge.com/geopolitical/iran-blasts-us-fabricated-pretext-hit-pickaxe-mountain-launches-more-attacks-bahrain

 

            Monetary Policy

 

              ECB leaves rates unchanged.

              https://www.zerohedge.com/markets/ecb-keeps-rates-unchanged-expected-warns-full-energy-inflationary-shock-yet-come

 

            Inflation

 

              Increasing worries over inflation and rising yields.

             https://www.capitalspectator.com/iran-tensions-revive-worries-over-inflation-and-rising-yields/

 

            Tariffs

 

              Trump’s new Canadian tariffs simply prove that tariffs don’t work.

              https://reason.com/2026/07/21/trumps-new-50-tariff-on-canadian-goods-is-actually-an-admission-that-trade-wars-dont-work/

 

            AI

 

              More on the open (China) versus closed (US) AI models.

              https://werd.io/american-ai-is-locked-down-and-proprietary-its-losing/

 

              AI’s balance sheet time bomb.

  https://www.zerohedge.com/markets/ais-balance-sheet-time-bomb-goes-mainstream-leverage-might-be-much-worse-it-looks?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4OTQ4Iiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDc1MDc0OCwiZXhwIjoxNzg3MzQyNzQ4LCJhdWQiOiJ6aC1naWZ0In0.v57usHYWU1ujwQWvYXpjTtAuq3Nn6GwNugSGJVKxgqU

 

     Investing

 

            Security is an increasingly important factor in capital allocation.

            https://www.realclearmarkets.com/articles/2026/07/22/security_is_a_rising_factor_in_capital_allocation_1195834.html

 

            Is the bull finally breathing?

            https://www.optimisticallie.com/p/a-full-bull

 

            Private equity assets stuck in ‘zombie funds’ are at an all-time high.

https://www.wsj.com/finance/investing/private-equity-assets-stuck-in-zombie-funds-are-at-a-record-high-4dbd01be?st=4X3PM8&reflink=desktopwebshare_permalink

 

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

           

 

 

Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.

 

 

 

The Morning Call---The rapidly changing AI landscape

 

The Morning Call

 

7/22/26

 

The Market

         

    Technical

 

            Tuesday in the charts.

https://www.zerohedge.com/markets/black-gold-bond-yields-big-tech-bullion-bitcoin-buck-all-bounce-ahead-earnings-bonanza?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4ODMxIiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDY2NTI3NywiZXhwIjoxNzg3MjU3Mjc3LCJhdWQiOiJ6aC1naWZ0In0.3ro7g0hbHCQ5PV_L1-3DNpZvq-wzF_NkJXy-G1htKP0

 

            Tuesday in the technical stats.

            https://www.barchart.com/stocks/momentum

            https://www.barchart.com/stocks/market-performance

            https://www.barchart.com/stocks/sectors/rankings

            https://www.barchart.com/stocks/signals/new-recommendations

 

            The momentum bounce hits key resistance.

https://www.zerohedge.com/markets/fade-todays-record-move-btig-warns-momentum-bounce-hits-key-resistance?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4ODQ3Iiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDY2NTYwMiwiZXhwIjoxNzg3MjU3NjAyLCJhdWQiOiJ6aC1naWZ0In0.t9URmE4zsbXFsrZ1tOMi_s2yHYXvmknyHld24ag9iyY

 

            The Market’s dangerous bet.

https://www.zerohedge.com/the-market-ear/markets-most-dangerous-bet?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4OTA4Iiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDcyNDE2MCwiZXhwIjoxNzg3MzE2MTYwLCJhdWQiOiJ6aC1naWZ0In0.saMsgF_McOLwq3QmEzVJZajfvL4At7NiS7A36WFkioU

 

 

            The bond market is too complacent.

https://www.zerohedge.com/the-market-ear/bond-market-far-too-complacent?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4ODM4Iiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDY2MDY3NCwiZXhwIjoxNzg3MjUyNjc0LCJhdWQiOiJ6aC1naWZ0In0.stkp-OnTBhaiFSfDTycTChmF2qIL2z2wYyF6na-a9oE

 

            Momentum is brewing in bitcoin.

https://www.zerohedge.com/crypto/momentum-brewing-bitcoin?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4Nzk5Iiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDY2NDIyNiwiZXhwIjoxNzg3MjU2MjI2LCJhdWQiOiJ6aC1naWZ0In0.vme-dG3XwZxUhGLI9tfhFmBc46x9SEKwVl71Xkq28Lw

 

Wednesday morning setup: US futures are lower following a chipmaker-powered jump in Tuesday’s session, with Nasdaq 100 futures falling by 0.8%, which appears to be more of a retracement to yesterday’s strength than a move tied to oil or de-risking into today’s Tech earnings. Alphabet earnings are coming after the close. As of 7:00am ET, S&P futures are down 0.3% and Nasdaq futures slide 0.6%. In premarket trading,  Mag 7 stocks are mixed ahead of key earnings from Alphabet, Tesla and IBM due later in the afternoon. Nvidia is underperforming the group as chipmakers decline; GOOG leads. Defensives and Energy are leading; within Cyclicals Financials are outperforming.  Today’s macro focus is wholly on GOOG and the AI trade. Crude is leading the commodity complex with WTI at $88/bbl and Brent above $95/bbl for the fist time in 6 weeks, so far Equities have not been derailed as investors continue to think that Trump pivots back to a deal. In metals, Precious is leading Base; Ags are mixed but net higher. Dollar is indicated a touch lower as bond yields are flat. Looking at the day ahead, it’s a fairly quiet one. But we’ll get the UK CPI print for June, and earnings releases after the US close include Alphabet and Tesla.

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Weekly mortgage applications were up 1.9% while purchase applications were up 6.0%.

 

Month to date retail chain store sales grew 7.8% versus +8.2% in the prior week.

 

                        International

 

                          The June UK CPI rose 0.1%, in line; core CPI was up 0.3%, also in line.

 

                        Other

 

            Overnight News

 

              US greenlights Saudi nuclear deal.

              https://www.zerohedge.com/geopolitical/trump-greenlights-saudi-nuclear-deal-uranium-enrichment-kingdom-possible

 

            Iran

 

Overnight news:

 

The US widened the scope of its airstrikes on Iran overnight, as President Donald Trump and officials in Tehran signaled a renewal of peace talks is unlikely in the near-term.

 

            Inflation

 

              Regional Fed reports indicate continued elevated inflation.

              https://bonddad.blogspot.com/2026/07/regional-fed-reports-indicate-elevated.html

 

            Tariffs

 

              The impact of politically (versus economic) motivated tariffs on the US economy.

              https://www.cato.org/research-briefs-economic-policy/macroeconomic-effects-tariffs-insights-180-years-us-trade-policy

 

            AI

 

              The battle for the future of AI:

 

                Summary.

        https://www.zerohedge.com/markets/battle-future-ai-open-source-models-101?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4NzgzIiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDY2MDUyMywiZXhwIjoxNzg3MjUyNTIzLCJhdWQiOiJ6aC1naWZ0In0.C5jASMJrLei9KnG5Q5ZX_ehcdx7rC2dUUbhDsfGRBfE

 

 

                Point.

                https://www.washingtonpost.com/opinions/2026/07/20/open-model-ai-is-good-competition-anthropic-openai/

 

                Counterpoint.

                https://stratechery.com/2026/whos-afraid-of-chinese-models/

 

              AI’s next breakthrough is looking scary

  https://www.bloomberg.com/opinion/articles/2026-07-21/self-improving-ai-models-look-genuinely-scary?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc4NDY1Njk1NywiZXhwIjoxNzg1MjYxNzU3LCJhcnRpY2xlSWQiOiJUSUk4Q0tSS1YyVFQwMCIsImJjb25uZWN0SWQiOiJCMzFCNTRDQTI3MTE0NjAxOUQxMURCN0IxRUM4NTE2MyJ9.4u1WVif1-sfwGosG3VfNnxsxR5GCM8p0ffzyY-ZoNd4

 

                  And how about this: Open AI admits a model escaped containment.

              https://www.zerohedge.com/ai/openai-admits-model-escaped-containment-and-hacked-hugging-face-cheat-test

 

                  A generational transfer is taking place.

 https://www.zerohedge.com/markets/generational-transfer-taking-place-cash-crunch-coming-ai-hyperscalers?gift=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuaWQiOiIxMTE4ODY0Iiwic2VuZGVyVWlkIjoiUUhnc3BaZVVFS2E3RHhXM216eFlKbjhaWEFoMiIsImlhdCI6MTc4NDcyNDY0NSwiZXhwIjoxNzg3MzE2NjQ1LCJhdWQiOiJ6aC1naWZ0In0.Ff9IplSBUWlhkTRd9fZmmExGybzKt-V6DQMHcx3zf9E

 

 

     Investing

 

            Dealing with the unknowns.

            https://alhambrapartners.com/weekly-market-pulse-its-always-something/?src=news

 

            Economic momentum flips from blessing to curse for S&P.

            https://www.advisorperspectives.com/commentaries/2026/07/21/home-affordability-better-headlines

 

                MedTech sector near lows.

            https://talkmarkets.com/article/medtech-sector-is-near-its-lows-what-is-going-on-1784651295

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today   

 

  Home affordability is better than the headlines suggest

  https://www.advisorperspectives.com/commentaries/2026/07/21/home-affordability-better-headlines

 

  The failure gap.

  https://klementoninvesting.substack.com/p/the-failure-gap

           

  Best World Cup photos.

  https://www.theguardian.com/football/ng-interactive/2026/jul/20/world-cup-2026-best-30-photographs-gallery

 

Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.

 

 

 

The Morning Call---Inflation conundrums

 

The Morning Call

 

7/21/26

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/big-tech-bitcoin-bounce-gamma-unclenches-bonds-black-gold-both-sold

 

Summary: Amid a quiet macro week, investors are bracing for the micro (mega-cap earnings) and after OpEx unclenched Gamma, markets were freer to move today (Nasdaq higher, rest lower). Bitcoin bounced alongside big-tech and bond yields jumped despite oil prices well off their highs chopping around unch, (fuel products higher). The dollar and gold went nowhere. The loss of positive dealer gamma after July options expiration leaves the S&P 500 less pinned, according to Bloomberg macro strategist, Michael Ball, giving any momentum rally greater scope to pull the broader market higher.Weakness in semiconductors and other crowded AI-infrastructure winners has pushed high-beta momentum into one of its fastest and deepest drawdowns on record. But the size of the recent drawdown in past AI-winners and more negative positioning does indicate there is a risk of a squeeze higher, which was the case on Friday. Broader market positioning matters more now.

 

            Monday in the technical stats.

            https://www.barchart.com/stocks/momentum

            https://www.barchart.com/stocks/market-performance

            https://www.barchart.com/stocks/sectors/rankings

            https://www.barchart.com/stocks/signals/new-recommendations

 

            Margin debt jumps (again) in June.

            https://www.advisorperspectives.com/dshort/updates/2026/07/20/margin-debt-finra-june-2026

 

            The dollar signals a continuation of its bearish chart pattern.

            https://talkmarkets.com/article/markets-at-crossroads-waiting-for-the-next-breakoutbreakdown-1784566715

 

            The VIX isn’t telling the whole story.

            https://www.zerohedge.com/the-market-ear/calm-storm-vix-isnt-telling-whole-story

 

Summary: The VIX still looks remarkably calm. Beneath the surface, however, the picture is very different. Single-stock volatility has exploded, semiconductors are swinging wildly, dealer gamma has deteriorated and investors are increasingly paying for downside protection. Goldman's volatility panic index has surged in recent sessions. Unlike the VIX, it captures a broader set of volatility signals, offering a deeper read on market stress.

 

What happens after a 20% drawdown in the semis?

https://www.zerohedge.com/the-market-ear/what-normally-happens-after-20-drawdown-semis

 

Summary: 15 episodes of >20% drawdowns in SOX over the past 15 years. 5 turned into >30%. Worst 44%. What happens after a 20% drawdown? 20 days later = 8% positive return. On average.

 

Tuesday morning setup: US stock futures are higher led by Tech after a strong bounce in chip stocks in Japan (memory stock Kioxia traded limit up after trading limit down on Friday and Monday was a holiday) and Korea, as evidence mounts that Momentum / Semis pullback have bottomed, with supportive price action elsewhere in Asia and Europe, though the JPM EU Trading Desk is not yet seeing follow-through buying in Semis.  As of 7:20am ET, S&P futures are 0.5% higher, lagging the 1.4% bounce in Nasdaq futures helped by a report that TSMC is planning price hikes, although it is unclear if the early ramp will persist amid the re-escalating war with Iran which overnight saw Houthis impose a blockade on Saudi Arabia. In premarket trading, most Mag 7 names are higher with semis leading (SOXX +4%). Cyclicals ex-Energy are leading Defensives with both Staples and HC net lower and AI boosting Industrials and Utils. WTI crude is trading near its highs, boosting Energy as all 3 commodity complexes move higher with silver the standout which has traded in tandem with the AI theme. The yield curve is twisting steeper with yields ranging from -1bp to +1bp with USD flat. Today’s macro focus is on the weekly ADP number and regional Fed activity.  US economic data calendar includes ADP weekly employment change (8:15am) and July Philadelphia Fed non-manufacturing index (8:30 am). Fed speaker slate is blank during July 18-30 external communications blackout period around the July 28-29 FOMC meeting.

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                        International

 

The May UK unemployment rate was 4.9% versus consensus of 5.0%; May average earnings were up 4.3% versus +4.5%.

 

The July EU economic sentiment index came in at 23.4 versus predictions of 11.2; the July German economic sentiment index was 26.3 versus 18.0; the July German current conditions index was -77.1 versus -77.8.

 

                        Other

 

                          Crude oil versus refined product prices.

                          https://econbrowser.com/archives/2026/07/eyes-on-refined-product-prices

 

This analyst believes oil prices will remain elevated through the end of 2027.

https://talkmarkets.com/article/interview-with-christiane-baumeister-oil-price-shocks-1784561347

 

                          The manufacturing sector of the economy continues to improve.

                          https://bonddad.blogspot.com/2026/07/the-manufacturing-sector-of-economy.html

 

            Overnight News

 

President Trump is nearing a decisive fork in the Iran war, with U.S. and Israeli officials envisioning only two viable endgames: Option 1: Pursue a new 10-day ceasefire aimed at reopening the Strait of Hormuz. Option 2: Launch a massive joint military campaign with Israel to force Tehran's capitulation.

 

OpenAI and Anthropic executives are sounding the alarm about the rise of cheap AI, particularly powerful new models produced in China, suggesting they will lead to a “dystopian” AI future and present unacceptable security risks without regulation.

 

The cost of protecting Oracle Corp.’s debt against default reached a fresh multi-year high on Monday while its existing bonds sold off, as doubts grew over whether the company’s massive investments in artificial intelligence will pay off.

 

            Iran

 

              Overnight news.

              https://www.zerohedge.com/geopolitical/us-iran-fighting-enters-10th-day-tanker-hit-hormuz-houthis-threaten-red-sea-chokepoint

 

            Inflation

 

              Gold is the constant.  What it signals is in substantial decline.

              https://www.forbes.com/sites/johntamny/2026/07/19/gold-is-the-constant-what-is-the-signal-in-its-substantial-decline/

 

Confusion over how the Fed/Warsh is measuring inflation. Lost in this somewhat esoteric struggle to define inflation is the fact that however the Fed has defined inflation, they have never met the goal anyway.  I am a whole lot less concerned about defining inflation than I am about the Fed having the balls to manage monetary policy to meet the whatever its definition is.

https://stayathomemacro.substack.com/p/2-of-what

 

              What the yield curve is telling us about inflation.

  https://wolfstreet.com/2026/07/19/30-year-treasury-yield-still-5-06-30-year-tips-yield-highest-since-2010-reintroduction-yield-curve-prepped-for-rate-hike-this-year/

 

              Inflation conundrums.

              https://www.advisorperspectives.com/commentaries/2026/07/20/conundrums-inflation

           

              A statistical revamp is about to lower inflation.

              https://www.wsj.com/economy/central-banking/pce-inflation-data-updates-ca7bfd61?st=HtLu99&reflink=desktopwebshare_permalink

 

            Tariffs

 

              Trump slams Canada with 50% tariff on selected goods.

              https://www.zerohedge.com/political/trump-reaches-1930-tariff-law-hit-canada-50-duties-not-these-items

 

            The Financial System

 

            They are doing it again.

            (4) Oh My Fucking God, They're Doing It Again

 

     Investing

 

            Why retail traders consistently underperform.

                https://www.advisorperspectives.com/commentaries/2026/07/20/why-retail-traders-underperform

 

    News on Stocks in Our Portfolios

 

 

What I am reading today

 

            A look at the future of warfare.

            https://www.zerohedge.com/technology/watch-aerial-drones-ferry-kamikaze-ground-bots-battle-warfare-automation-accelerates

 

 

Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.