Weekly Notes
August 7 — Situational Awareness: Using the recent implosion of the Situational Awareness hedge fund, the piece walks through how 400% leverage on a concentrated set of AI-related positions turned sound long-term theses into a forced liquidation once margin calls hit.
August 14 — Your Portfolio Doesn’t Care Who Wins: With midterm elections approaching, the note pushes back on the idea that political outcomes should drive investment strategy.
August 21 — Remembering Why We Own Bonds: After a year where stocks posted double-digit gains and bonds lost 0.69% through July, the piece revisits why an allocation to bonds still matters.
August 28 — The Market Went Up. It Also Got Cheaper. A breakdown of the S&P 500’s year-to-date return shows nearly all of the return has come from earnings growth rather than rising valuations.
Quote We Love
“A military genius is the man who can do the average thing when all those around him are going crazy.” – Napoleon
Need to Shred Things?
If you’re in the Houston area and have documents to be shredded, feel free to bring them to our office.
You can bring them with you if you attend our seminar on September 17th; you can bring them with you if you have an account review; or, if you just want to bring them up on another day, you can block off time using this calendar link, and we’ll make sure we’re ready for you. https://calendly.com/cmckeon-tsawm/15min