The weekly update covers NVDA's excellent earnings; the A.I. shine which is wearing off; the minutes from the last FOMC meeting (Oct); and the fall of Bitcoin.

A.I. featured large again last week, mainly because it was the key talking point as five of the Mag 7 companies released earnings with mixed results. The FOMC decision also went as expected, although Mr Powell threw some caution into the wind. Global stock markets took it in stride, but the US Treasury market was less happy as yields rose across the curve. Gold was weaker again, and the US Dollar strengthened.

The bottom line is that global stocks ended at or near record highs again, with US Treasury yields slightly higher. The BoE – after a struggle – managed to lower its policy rate. Fitch published an interesting article on tariffs, Apple CEO Tim Cook met with the president, and the recent Pivot podcast interview with Anthony Scaramucci is very interesting.

Markets are at last returning to some sense of normalcy, with the S&P 500 now clawing back all of its losses since the infamous...

Four of the infamous tech giants in the Mag & report earnings today and tomorrow: MSFT, META, AMZN and AAPL. Risk is downside asymmetrical.

“What gives you opportunities is other people doing dumb things ... In the 58 years we’ve been running Berkshire, I would say there’s...

Tech companies drove the 7% return of the S&P 500 in the 1Q23. Without the "magnificent seven", the index would have been flattish.

The five mega-tech FAMAG names start reporting their quarterly earnings ended Dec 30th, 2022, this week. I also included TSLA.

Love it or hate it, the fact is that Tesla's stock performance has left nearly all peers – tech and automotive – in the dust. Now what?