Momentum investor Richard Driehaus took exception to the mantra of buy low, sell high. His philosophy applies to today's market

This Stock Market Breakout Is Uniquely Promising

Richard Driehaus, the late Chicago money manager who helped popularize momentum investing, took exception to the mantra of buy low, sell high. “I believe that far more money is made buying high and selling at even higher prices,” he told Jack Schwager in his book The New Market Wizards. Driehaus, who died in 2021, has been vindicated over and over in recent decades, which is worth remembering after the S&P 500 Index broke out to its latest all-time high.

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American taxpayers are subsidizing companies too cheap to offer health insurance

No One Who Works Full Time Should Be on Medicaid

There are a lot of jobs in the US economy that pay miserably low wages. And there are a lot that offer a reasonable hourly rate but still result in miserably low earnings because of unstable, fluctuating schedules. How many is hard to know, but it’s not a small number: According to the Government Accountability Office, there are about 9 million Medicaid recipients who are working full-time, and 7.5 million who receive SNAP benefits.

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AI titan Anthropic is teaching leaders of all kinds a valuable lesson, which is that seemingly self-destructive acts can be key components of success

Anthropic Is Teaching CEOs Everywhere a Valuable Lesson

America’s artificial intelligence titans recently banded together to urge the government not to restrict so-called open-weight AI models, or those that are publicly available for users to freely download and run on their own platforms, so that they can better compete with the ones coming out of China. All the usual suspects - Nvidia Corp., OpenAI and Google-parent Alphabet Inc. - were on board with one exception: Anthropic PBC.

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Saudi Arabia is stepping up to break the Houthis' grip on the Red Sea — building a coalition with Egypt, Turkey and Pakistan. My latest for @opinion.bloomberg.com on whether it can succeed where Hormuz efforts have struggled www.bloomberg.com/opinion/arti...

Saudi Arabia Can Break the Houthis’ Grip on the Red Sea

The Strait of Hormuz isn’t the only Middle Eastern naval chokepoint under threat: In the Red Sea, vital shipping is being disrupted by an Iranian proxy, the Houthis of Yemen. Now Saudi Arabia, the nat...

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“Today’s epilogue diminishes the gravity of that day, denigrates the work of the prosecutors and law enforcement officers who secured these convictions, and excuses criminal acts that caused a centuries-long pillar of our democracy — the peaceful transfer of presidential power — to buckle.”

Bob Burgess@bobburgess.bsky.social · 3h ago

US District Judge Amit "Mehta, who had presided over the Oath Keepers cases, explained that although he didn’t have the authority to override the Justice Department’s decision, he 'strongly' disagreed with it." www.bloomberg.com/news/article...

US District Judge Amit "Mehta, who had presided over the Oath Keepers cases, explained that although he didn’t have the authority to override the Justice Department’s decision, he 'strongly' disagreed with it." www.bloomberg.com/news/article...

Judge ‘Reluctantly’ Lets DOJ Dismiss Jan. 6 Oath Keepers Cases

More than three years ago, the US Justice Department touted guilty verdicts against members of the right-wing Oath Keepers for plotting to obstruct Congress’ certification of the 2020 presidential ele...

bloomberg.com

If states are the laboratories of democracy, then Florida is Walter White’s RV methmobile. It’s cooked up a home-insurance crisis “fix” that only insurance companies could love Gift link to my column for @opinion.bloomberg.com www.bloomberg.com/opinion/arti...

Florida Chooses Insurers and Their Profits Over Homeowners

US states are supposedly the laboratories of democracy, cooking up and testing local solutions to national problems. But some of those labs are more like Walter White’s RV methmobile: They’re not alwa...

bloomberg.com

“.. a loss for the Trump administration in one of its earliest efforts to dismantle President Joe Biden’s campaign to reduce climate-warming greenhouse gases ..” @apnews.com apnews.com/article/epa-...

BREAKING: *DOJ TO MONITOR POLLING SITES IN FOUR MICHIGAN CITIES TODAY *DOJ TO WATCH POLLS IN DETROIT, LANSING, EAST LANSING, HAMTRAMCK

"Tariff Refunds Have Wiped Out Tariff Revenue Since May" taxfoundation.org/blog/tariff-... "US tariff policy has changed more than 50 times since the start of Trump’s second term.... That uncertainty suppresses investment and hiring and distorts pricing decisions."

Trump’s railing against oil companies for pump prices is futile, but approaching midterms are fueling his anxiety. There’s one nuclear option he might yet deploy @opinion.bloomberg.com www.bloomberg.com/opinion/arti...

A Cornered Trump Just Might Turn on Big Oil

While I wouldn’t necessarily rely on Truth Social for facts, it occasionally serves as a barometer of President Donald Trump’s anxieties. On Monday, the needle pointed to pump prices:

bloomberg.com

I'm sure those at the bottom of the 'K' feel differently *BESSENT: 'I GET SICK OF HEARING ABOUT THIS K-SHAPED ECONOMY'

"Perhaps even worse, Trump’s apparent failure to comply with federal tax laws, to the tune of an estimated $100 million, is still forgiven, at the expense of the American taxpayer."

Bob Burgess@bobburgess.bsky.social · 2d ago

BARBARA MCQUADE: "But the new deal does nothing to prevent the DOJ from giving large payouts to the president’s allies." www.bloomberg.com/opinion/arti...

BARBARA MCQUADE: "But the new deal does nothing to prevent the DOJ from giving large payouts to the president’s allies." www.bloomberg.com/opinion/arti...

Trump Still Has That IRS Immunity. Don’t Be Fooled

Acting Attorney General Todd Blanche’s assurance to senators about the $1.8 billion “Anti-Weaponization Fund” and President Trump’s immunity with the Internal Revenue Service is nothing more than a ho...

bloomberg.com

This newsletter is viewed as a lightweight and a one-hit wonder. www.bloomberg.com/opinion/news...

Hedgehog Hedge Fund

Situational Awareness hedging and margin, agentic retail investing, Bitcoin cold wallets and Anthropic hacks.

bloomberg.com

That solar panels are now an everyday sighting almost everywhere in the world is what makes it a remarkable story. The next phase of the boom may reveal a shift in who is gaining access to the technology. Read more: bloom.bg/4ximD5F 📷: Angel Garcia/Bloomberg

For Democrats, the stakes don't get higher than Michigan

Michigan Could Be Progressives’ Biggest Prize — and Regret

In a year of divisive Democratic primaries, Michigan’s Senate contest has been the most extended, expensive and acrimonious. A progressive win here tomorrow would give the left its biggest victory yet; but could ultimately diminish Democrats’ chances of holding the state’s crucial Senate seat in November.

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Warsh has enlisted the "very best minds" to remake the Fed. Missing from every task force: anyone representing regular people or labor. But the Fed doesn't need a new task force to hear from the public—it already listens. My latest for @opinion.bloomberg.com: www.bloomberg.com/opinion/arti...

The Fed Needs to Start Listening to Normal People

In his campaign to remake the Federal Reserve, Chair Kevin Warsh has engaged what he calls the “very best minds.” Yet there is a conspicuous absence from the various task forces he has created: anyone...

bloomberg.com

For the second straight year, the US stock market is trailing the rest of the world. The MSCI USA Index(white line) is up 9.3% through July versus 12.5% for the MSCI All Country World Index (blue line) excluding the US

The hilarious meta aspect of this story about used EV prices in the US rising is how long they take to reach the obvious (but repugnant to The Discourse) conclusion, that people really like the EVs that US carmakers don’t want to sell them www.cnbc.com/2026/07/31/u...

EV prices aren't following the 'law of used cars,' analyst says — what it means for buyers and sellers

The prices for used electric vehicles have risen this year, which is unusual, experts said. Affordability and high gas prices help explain why, they said.

cnbc.com

Interesting idea to pick someone who really wanted to be Fed Chair but had no interest in economic forecasting or monetary policy.

RBADVISERS: “.. The Fed focuses on core inflation, maybe because they don’t drive or eat. .. For the rest of us, the headline GDP Deflator is the now highest in more than 40 — 40! — years when excluding the post-pandemic oddities.”

Former New York Fed President Bill Dudley not holding back in this breaking @opinion.bloomberg.com column on Kevin Warsh's budding disaster www.bloomberg.com/opinion/arti...

Kevin Warsh’s Approach to Fed Policy Is Deeply Flawed

Federal Reserve Chair Kevin Warsh seemingly wants to outsource monetary policy to financial markets. In his telling, the central bank’s job is to be the referee, not the one influencing market expecta...

bloomberg.com

"Golden Age" Mortgage Rates in US Rise to 6.66%, Highest Level in a Year (Bloomberg) -- US mortgage rates rose to a 12-month high as Treasury yields climbed in recent weeks and continued fighting in Iran fueled concern about higher inflation.

"Golden Age"

Carl Quintanilla@carlquintanilla.bsky.social · 6d ago

$100 billion. That's a rough estimate of how much the Trump administration's chaos has cost the US economy since January 2025. www.bloomberg.com/opinion/arti...

The Economic Cost of Chaos Is Real and Rising

Even by the standards of this White House, last week was a lot. On Monday, President Donald Trump announced 50% tariffs on Canadian goods via a Depression-era statute that has never been used (and mig...

bloomberg.com

"Golden Age" "More people who lost coverage after congressional Republicans ended enhanced federal subsidies are now seeking care in emergency rooms and unable to pay bills." www.nytimes.com/2026/07/30/b...

After Obamacare Cuts, Hospitals Are Treating More Uninsured Patients

More people who lost coverage after congressional Republicans ended enhanced federal subsidies are now seeking care in emergency rooms and unable to pay bills.

nytimes.com

Americans are running out of cash? The Bureau of Economic Analysis said today that the US saving rate fell to 2.7%, the lowest since 2008 (excluding Covid)

Blue states also provide a net $443 billion in federal taxes per year, while red states take a net $212 billion. The blue states as usual are heavily subsidizing the red, and now aren't even getting government services for their money usafacts.org/articles/whi...

Which states contribute the most and least to federal revenue? | USAFacts

In 2024, Californians paid about $275.6 billion more to the federal government than they received.

usafacts.org

Murshed Zaheed@murshedz.bsky.social · 7d ago

“Trump has rejected disaster aid for Democratic-run states at the highest rate in the 47-year history of the Federal Emergency Management Agency.” Right now people in blue states are basically paying federal taxes as if they’re colonized territories of red states. www.politico.com/news/2026/03...

"The ALT5 deal brought more than half a billion dollars to members of the Trump family — one of the single biggest inflows of crypto income to the family documented yet. Investors who bought ALT5 shares last August, meanwhile, have lost more than 90%." www.bloomberg.com/news/article...

Trump Crypto Tie-Up Fueled Family Windfall, Investor Losses

Last summer, a money-losing digital-payments firm with a history of legal troubles seized what its leaders thought was a big opportunity: a deal with the Trump family’s crypto platform.

bloomberg.com