Weekly Signals
Defensive Positioning Preceded the News
Is This Really About Greenland?
Newsletter
Closing Thoughts for the Week
Independence Under Fire
Will Politics Break the Fed’s Resolve?
Macro Observations
Rate Cut Expectations Are Overblown
Investors Are Underestimating Inflation Risk
Newsletter
Concentrated vs. Broad Market Exposure: How $FMKT Stacks Up
Key Highlights * FMKT offers a concentrated, actively managed alternative to broad index investing by targeting companies most sensitive to deregulation. * Unlike the S&P 500, FMKT intentionally emphasizes sectors such as energy, financials, industrials, and healthcare, where regulatory shifts can materially affect profitability. * Broad market indices can mask concentration
Global View
The Rally Grows Up
Key Highlights * U.S. inflation continues to cool without a sharp deterioration in labor markets, reinforcing expectations that the Federal Reserve will remain on hold near term.¹ * Equity leadership is widening meaningfully, with small- and mid-caps outperforming mega-cap technology and signaling healthier market breadth.² * Globally, disinflation is allowing
Leaders-Laggards
Contrarian Cannabis Sector: 5 Underappreciated Stocks Poised for Federal Reform
Key Highlights * The Trump administration’s December 18, 2025 executive order materially advanced federal cannabis rescheduling. * A move to Schedule III would remove 280E tax constraints, reshaping cannabis company cash flows. * Cannabis reform is no longer a purely partisan issue, altering political risk assumptions. * Several U.S. operators are positioned
Weekly Signals
Risk-On Without Tech: What a Small-Cap Led Market Means for Sector Rotation
As 2026 begins, equity market leadership looks notably different from what investors have grown accustomed to over the past several years. Instead of mega-cap technology stocks dictating the market’s direction, small-cap equities have emerged as the primary drivers of performance. For investors conditioned to measure risk appetite
Newsletter
$FMKT: Why Investors Should Treat Deregulation as a Structural Trend, Not a Fad
Key Highlights * Deregulation is re-emerging as a structural policy shift, driven by court rulings, executive action, and economic conditions rather than short-term political cycles. * A 2024 Supreme Court decision limiting regulatory authority has fundamentally reshaped the balance of power between federal agencies and the judiciary. * Industries with historically
Macro Observations
Powell Under Fire: How the DOJ’s Criminal Inquiry Could Shake the Fed’s Independence—and Ignite a Gold Super Spike
Key Highlights * The DOJ’s criminal inquiry into Fed Chair Jerome Powell marks an unprecedented challenge to Federal Reserve independence.¹ * Powell argues the investigation is a political pretext tied to pressure for interest-rate cuts rather than genuine misconduct.² * Market confidence in U.S. monetary institutions is central to dollar
Newsletter
$FMKT: Financial Deregulation Is Back in the Conversation
Key Highlights * Recent SEC agenda items and public statements signal a shift toward streamlined regulation and a renewed focus on capital formation and market efficiency.¹ * Enforcement priorities appear to be narrowing, with fewer actions tied to technical violations and greater emphasis on cases involving clear investor harm.³⁻⁴ * Heavily regulated industries
Closing Thoughts for the Week
A Rally at Stall Speed – Can Bad News Keep Being Good News?
Are markets rising for the right reasons?
Newsletter
Are Publicly Listed Private-Equity Firms Positioned to Benefit from the Rebound in Exit Activity?
For most of 2022 and 2023, private-equity firms found themselves in an uncomfortable position: plenty of companies to sell, but almost no market willing to buy. Rising interest rates, shaky economic conditions, and a frozen IPO window left sponsors holding aging assets far longer than intended. By late 2025,