As we wrap up tax season, I’m reminded of a mistake I’ve seen multiple people fall victim to: incorrect reporting of cost basis. Cost basis is the adjusted value of the security when you originally acquired it. Basically, it’s the money you’ve likely already paid taxes on. Occasionally, when assets transfer from one institution to another, something might get lost in translation. When this happens, financial institutions often default to a cost basis of $0. Some investors may view this as a minor thing, but when the financial institution reports your sales of securities to the IRS, the entire amount…

As the market continues to rollercoaster, Tesla (TSLA) would likely love to get off the ride. The company has been in the headlines for all the wrong reasons, and its stock is down 38% year-to-date (YTD) and 48% from its 52-week high. The near halving in stock price might have investors wondering, is now the time to scoop up shares on the cheap? No. And, I show below, I do not see an honest argument for owning the stock above $50/share. Tesla lost its first-mover advantage, its profitability and market share are in decline, and there’s no straight-faced argument that…

Key News Asian equities were mixed despite a stronger U.S. dollar overnight, gold surging, and yesterday’s U.S. equity downdraft, as Taiwan underperformed. The Yen was resilient, giving some validation to today’s Financial Times article on Japanese institutions selling U.S. Treasuries, though it is hard to say for sure. The U.S. dollar’s decline, stock market decline, and asset flow out of the U.S. were topics in Chinese media, though likely being repeated globally. The positions of star active fund managers, revealing their positions, garnered attention on a light economic data and policy day. One manager’s top positions were revealed as Tencent,…

President Trump has made critical comments about Federal Reserve Chair Jerome Powell’s performance in recent weeks. Trump wrote that, “there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW.” Trump made these comments on social media on April 21. Although Powell’s term does not end until May 2026 and Powell was originally appointed by Trump, prediction markets see around a 20% to 25% chance that Powell is removed this year according to Polymarket and Kalshi. Waiting For Economic Data Trump wants lower interest rates immediately. Powell, and perhaps most policymakers on…

In trading on Tuesday, shares of Northrop Grumman crossed below their 200 day moving average of $492.68, changing hands as low as $462.41 per share. Northrop Grumman shares are currently trading off about 11.8% on the day. 10 Stocks Crossing Below Their 200 Day Moving Average » The chart below shows the one year performance of NOC shares, versus its 200 day moving average: Looking at the chart above, NOC’s low point in its 52 week range is $418.60 per share, with $555.5657 as the 52 week high point — that compares with a last trade of $471.97. The NOC…

It’s as predictable as night following day: Stock markets crash, and we almost immediately hear more about the so-called “60/40” investing rule as a way for investors to protect themselves. Don’t fall for this overdone “rule of thumb” (which, as the name says, recommends putting 60% of your portfolio into stocks and 40% into bonds). Today we’re going to look at a much better way—one that pays you 9.7% dividends and delivers far better performance, too. 2025 Is 2022 Redux for the 60/40 Investing Rule Crowd Today’s setup reminds me of what I heard near the end of 2022, when…

TL;DR: As cannabis becomes a regulated global commodity—spanning pharma, exports and healthcare—the U.S. risks falling behind. While other regions advance structured markets, federal inaction and investor hesitation threaten America’s role in the industry it once led. Call it what you want—emerging, evolving, exploding—the global cannabis market is no longer a curiosity. With more than 100 countries adopting some form of legalization and cross-border shipments rising each quarter, cannabis is becoming a regulated international commodity. New projections from Whitney Economics estimate that the total addressable market for medical and adult-use cannabis could reach €429 billion (~$483 billion), with upside to €448…

Key News Asian equities were mixed overnight despite the US dollar’s weakness, led higher by Mainland China, India and Singapore, while Japan, Taiwan, and Thailand closed lower and Australia and Hong Kong remained closed for Easter. Over the weekend, the People’s Bank of China (PBOC) left the 1- and 5-year Loan Prime Rates (LPRs) unchanged at 3.10% and 3.60%, respectively. The latter is the reference rate for mortgages. Going into the morning’s trading, Friday’s State Council announcement on stabilizing the stock market and real estate industry was front-page news, as it is rare for the highest echelon of China’s government…

Traditionally, large stocks were considered more international, and small stocks more domestic. At a time of trade hostilities, you’d think that small stocks would be doing well. Alas, not. This year through April 18, big stocks (as measured by the Standard & Poor’s 500 Total Return Index) are down 9.8%, while small ones (gauged by the Russell 2000 Index) have fallen 15.3%. This is partly because the small fry are more volatile, and partly because in times of stress, people flee to the relative safety of big stocks. Nonetheless, small stocks have advantages. They are less combed over by Wall…

The Federal Open Market Committee is not expected to adjust short-term interest rates on May 7. Fixed income markets project that a cut in interest rates is unlikely, expecting rates to remain at the current 4.25% to 4.5% range according to the CME FedWatch Tool. Similarly projection markets Kalshi and Polymarket give roughly a 9 in 10 chance that rates are held steady. However, a cut in June appears probable. Recent speeches from FOMC officials in May have signaled that it may be too early to cut interest rates in the context of high economic uncertainty and ahead of economic…