Insights
Free articles, quick market notes, and the weekly brief. The signal without the length.
Free Articles
FreeMar 12, 2025 · 8 min read
What the Fed's Reverse Repo Drainage Actually Means for Equity Risk
Liquidity conditions are changing quietly. Here's what the plumbing tells us about risk appetite heading into Q2.
FreeFeb 22, 2025 · 6 min read
Three Charts That Explain Why AI Capex Isn't Slowing Down
Hyperscaler guidance, power procurement contracts, and hiring data all point to the same conclusion.
Market Notes
ProMar 20, 2025 · 4 min read
NVDA Earnings Reaction: What the Options Market Priced vs. What Happened
Post-earnings positioning and what it implies for the semiconductor cohort through end of quarter.
ProMar 5, 2025 · 5 min read
Energy Sector: Utility Valuations After the Rate Move
CEG and VST relative to historical spreads. The setup looks different from December.
Weekly Brief
ProMar 17, 2025 · 10 min read
Week of March 17: Macro Regime Update, Portfolio Changes, What We're Watching
Dollar strength, positioning across the model portfolios, and three names we added to our watchlist.
ProMar 10, 2025 · 9 min read
Week of March 10: Rates, Energy, and the Healthcare Thesis Update
A quieter week with important positioning adjustments. We trimmed FSLR and added to CEG on the pullback.