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IN 2 HOURS: Earn 1 CFP® CE Credit – China Q3 Update & KLIP Strategy Webinar
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Michael A. Gayed, CFA
Newsletter
Earn 1 CFP® CE Credit – China Q3 Update & KLIP Strategy Webinar
Sponsored By KraneShares
High Yield Spotlight
Reaching for Yield or Reaching for Trouble? Understanding PDI’s Credit Mix
Investors hungry for income often find themselves drawn to the PIMCO Dynamic Income Fund (PDI)—a closed-end vehicle that promises steady cash flow in a world where safe yields have rarely satisfied. The question is what lies behind that income stream, and whether the trade-off between risk and
Global View
Tense Pause in the Global Rally
This Week at a Glance Markets cooled after an exuberant October. In the U.S., private data hinted at a softer labor market, with unemployment near 4.4% and planned layoffs at a 22-year high¹². The S&P 500 fell roughly 2.4% from recent highs but remains
Weekly Signals
Late-Year Seasonality: November–December Strength
Seasonality often gets dismissed as folklore. Yet history keeps proving that the final stretch of the year—November and December—has been a sweet spot for equity investors. Over the past 50 years, the S&P 500 has rallied in November roughly 73 percent of the time, averaging gains
Leaders-Laggards
Valuation Overhangs and the AI Hype: Are Tech Stocks Finally Paying the Price?
In early November 2025, markets stumbled after an extraordinary tech rally. Global indexes slipped as investors questioned whether the artificial-intelligence (AI) boom had gone too far. Even the entire “Magnificent Seven” — Nvidia, Amazon, Apple, Microsoft, Tesla, Alphabet, and Meta — fell in a single session, with the Nasdaq down about
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IN 1 HOUR🎓 Earn CE Credit: Income Investing in a High-Rate World (Options Income, Bonds, Pass Throughs)
Sponsored By GraniteShares
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🎓 Earn CE Credit: Income Investing in a High-Rate World
Sponsored By GraniteShares
Leaders-Laggards
Why Haven't Utilities Performed Better Despite AI Boom?
The U.S. Utilities sector has outperformed the broader market for most of 2025. As of early November, the Utilities Select Sector ETF (XLU) is up roughly 20% in total return versus 17% for the S&P 500 (SPY)—an apparent lead that masks a volatile year. Despite their
Weekly Signals
When Mega-Cap Strength Masks Weak Breadth
Why the Index Can Be Above the 50-Day MA and Still Fragile
Macro Observations
When Robots Take Your Job, Will the Government Pay You Instead?
Capitalism depends on consumer spending, not ideology. About 70 percent of U.S. GDP has long come from household consumption¹. The system runs on a simple feedback loop: businesses pay workers, who then buy the goods and services those same businesses sell². As automation accelerates, that loop is breaking. Artificial
Lead-Lag Live
Seth Cogswell on Bubbles, Passive Flows, and What Breaks Next
When markets trade on fantasy rather than fundamentals, it’s usually just a matter of time before gravity reasserts itself. That’s one of the big takeaways from our latest conversation with Seth Cogswell, Managing Partner at Running Oak Capital, and creator of the Running Oak Efficient Growth ETF (RUNN)