The Pomp Letter

To investors, Retail investors just got a massive win last night. Their activism campaign to enact change at Opendoor ($OPEN) was completed with the naming of a new CEO and two new board members. For context, Opendoor went public via a SPAC in December 2020. The company saw its stock price decline down to $0.51 per share earlier this year. The negative performance can be attributed to a confluence...

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To investors, It seems many people are freaked out over the weak jobs report from last week, but I don’t think people quite understand what is happening right now. We are living through one of the most historic moments in technology history. You may think that sounds like hyperbole, but I brought cold, hard facts to prove it. Take a look at this chart from Aahan Menon — tech sector output is skyro...

To investors, The jobs report this morning is going to send shockwaves throughout the market. We saw growth slow to an extraordinarily low 22,000 payroll additions in the month of August. As if that wasn’t bad enough, the June jobs revision brought the June jobs number negative. Heather Long points out the new data shows the US economy lost 13,000 jobs in June, which is the first negative month si...

To investors, Bitcoin adoption happened in a special way. Most technology is first used by militaries and nation states, then corporations adopt it, and finally the average person is given access to the technology. This happened with the internet, phones, computers, and many other innovations of the last century. But bitcoin has been different. The people adopted bitcoin first. Nation states thoug...

To investors, There is a seismic shift underway in how countries think about preserving their economic value for the long-term. It is imperative that you understand what is happening here because the ramifications will touch every asset class, every market, and every investor over time. Let me explain. The story is best seen through the explosion of adoption related to gold as a reserve asset for...

To investors, We are living through a very important shift in macro investing. You can see it clearly with a brand new development that hasn’t happened in the last 30 years. Three decades! So what is this development? Macro analyst Tavi Costa points out “Foreign central banks now officially hold more gold than US Treasuries — for the first time since 1996. Let that sink in. If you think this buyin...

To investors, A recent study spells disaster for many young people entering the workforce right now. Simply, these young people are getting smoked in the job market due to artificial intelligence. The new paper tried to understand where artificial intelligence is driving more jobs in the economy and where AI is destroying jobs. And, as expected, the conclusions are a doozy. The paper is titled “Ca...

To investors, The landslide victory for President Trump in November’s election suggested that a large portion of the country was excited about the prospect of putting a businessman and investor back into the White House. Since his inauguration, Trump and his administration have gone to work implementing their plan with a frenetic pace. Most of the commentary this year has been focused on Trump’s t...

Join us at the Independent Investor Summit in NYC on September 12th! Markets are breaking records. Public equities are outperforming. And individual investors are driving it all. It’s officially the rise of the retail investor. On September 12th in NYC , I’m hosting the Independent Investor Summit — a one-day event built exclusively for self-directed investors. We’re bringing together some of the...

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To investors, It feels like there are two different realities in financial markets right now. You see it in the wealth inequality gap, which is being discussed non-stop across political aisles, but you can also see it in the way retail investors and institutions are behaving. Global Markets Investor writes “The gap between retail and professional investors have rarely been greater: Mom-and-pop inv...

To investors, The government is never going to stop printing money. That is my main investment thesis for the foreseeable future. Plenty of people want to politicize our addiction to money printing. They claim the opposing political party is responsible for the undisciplined destruction of our currency. But the truth is money printing isn’t reserved to a specific political party. Creative Planning...

Join us at the Independent Investor Summit in NYC on September 12th! Markets are breaking records. Public equities are outperforming. And individual investors are driving it all. It’s officially the rise of the retail investor. On September 12th in NYC , I’m hosting the Independent Investor Summit — a one-day event built exclusively for self-directed investors. We’re bringing together some of the...

Join us at the Independent Investor Summit in NYC on September 12th! Markets are breaking records. Public equities are outperforming. And individual investors are driving it all. It’s officially the rise of the retail investor. On September 12th in NYC , I’m hosting the Independent Investor Summit — a one-day event built exclusively for self-directed investors. We’re bringing together some of the...

To investors, Bitcoin’s volatility has long been a major selling point for investors to purchase and hold the asset. Retail investors saw the volatility as a way to buy bitcoin early before it went up a lot. Sophisticated, institutional investors saw the volatility as an asymmetric bet that presented the best risk-reward scenario in finance. So what happens if the volatility starts to disappear? W...

To investors, The US national debt continues to grow to the sky at an alarming rate. That isn’t a big secret. Frankly, thousands of people yell and scream about the problem online every day. But new data suggests the debt ceiling, which is supposed to limit how much the government can borrow, may actually contribute to a higher national debt over time. You can see in this chart from Global Markets...

To investors, There are a few different ways you can measure the results of an investment. You can use Internal Rate of Return (IRR), Return on Investment (ROI), Compound Annual Growth Rate (CAGR), or Time-Weighted and Money-Weighted Returns (TWR/MWR). Each of these metrics is trying to measure something slightly different, but ultimately the goal is for the calculation to answer the question “is...

To investors, It seemed like everyone was predicting an economic collapse just a few weeks ago. There was talk of recessions, depressions, and empty shelves on every news channel. The academics and economists were relevant for two seconds because they brought out a bunch of misplaced theories on why the new economic policies being implemented were guaranteed to bring financial pain to Americans. T...

To investors, Many economists and market commentators predicted sky-high levels of inflation after the flurry of tariff announcements coming out of Washington DC earlier this year. Fortunately, those predictions have not proven true in the last few months. Truflation, the leading real-time alternative inflation metric, shows inflation started the year hovering around 3%, fell to approximately 1.2%...

Join us at the Independent Investor Summit in NYC on September 12th! Markets are breaking records. Public equities are outperforming. And individual investors are driving it all. It’s officially the rise of the retail investor. On September 12th in NYC , I’m hosting the Independent Investor Summit — a one-day event built exclusively for self-directed investors. We’re bringing together some of the...

Join us at the Independent Investor Summit in NYC on September 12th! Markets are breaking records. Public equities are outperforming. And individual investors are driving it all. It’s officially the rise of the retail investor. On September 12th in NYC , I’m hosting the Independent Investor Summit — a one-day event built exclusively for self-directed investors. We’re bringing together some of the...

To investors, One of the most surreal aspects of financial markets since the 2008 Global Financial Crisis is that bitcoiners were right. Not in a “I told you so” way, but rather how broken the market has been since the government decided to implement the QE playbook at every downturn. Everywhere you look you can see someone stuck in the old world yelling and screaming about valuations and frothine...

To investors, The stock market is on fire in the last few weeks. The S&P 500 and Nasdaq each hit a new all-time high yesterday. This puts a cherry on top of an incredible performance run for Nasdaq in particular. Creative Planning’s Charlie Bilello writes “the index has doubled over the last 5 years and quadrupled over the last 10 years.” A 2x in 5 years and a 4x in 10 years. Not too shabby, right...

To investors, The stock market is evolving before our eyes, yet most people haven’t realized how important this evolution will be moving forward. We can start with the power law outcome of the Magnificent 7 stocks. This type of outperformance is just pure dominance of the other 493 stocks in the S&P 500. These 7 stocks — Meta, Apple, Amazon, Alphabet, Microsoft, Nvidia, and Tesla — are probably 7...