‘The World on its Shoulders.’ It is all Nvidia today. Both the Burdens and the Opportunities. The most valuable company in the world, $5 trillion and counting, closes out the earnings season this Wednesday carrying Wall Street’s whole AI thesis, a...

Also the leveraged ETF rebalancing trade, insider trading at the Duke game, AI interns and resume interests.

Markets Why everyone hates bonds right now. (awealthofcommonsense.com) Microcaps are having a year. (morningstar.com) ETFs More ETFs means more ETF closures. (barrons.com) The Invesco S&P 500 Equal Weight ETF ($RSP) surpassed $100 billion in assets...

Podcasts Michael Batnick talks with Robb Baldwin, ⁠CEO of TradePMR (youtube.com) Michael Kitces talks with David Brooks, founder of Retire SMART, about investing in education. (kitces.com) Charles Schwab Charles Schwab ($SCHW) plans to raise the client...

The mega-AI IPO parade keeps accelerating in this AI Tech Wave. A week ago we walked through the math that makes a $2+ trillion Anthropic debut sayable: the projections, the multiples, and the trial balloons early Anthropic investors were floating. Over...

Markets Oil markets are tuning out Trump’s statements. (axios.com) Companies in the Stoxx Europe 600 index saw an 18% rise in Q2 earnings. (wsj.com) Markets lie less than politicians. (howardlindzon.com) ETFs Bryan Armour,...

Here’s a preview of what we’ll cover this week:  Macro: Don’t Bet Against The US Economy; Inflation Keeps Finding New Reasons To Stay; Bessent’s Treasury Twist Markets: The Anticipated Pullback; Where Are We In The Rotation?; Anthropic’s IPO...

Tickets for Stocktoberfest are here. Good morning… I am heading to San Francisco this week and will be doing a presentation at the Money Show (Wednesday) on Investing in The Degenerative Economy. From there it is three months on the road as I head east. I...

Sign up Don’t miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com) Work in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com) Top clicks this week The rates environment...

The Bigger Picture, Sunday, August 23, 2026 Today, we’re discussing the fruits of the STEM (Science, Technology, Engineering, and Math) in China, as seen from an AI entrepreneurship perspective. Thursday’s piece was the zoom-in: China’s AI momentum...