We believe the U.S. equity markets remain in the A-Wave phase of a developing correction, and, importantly, we do not yet have sufficient evidence that a meaningful bottom has been established. Investors should resist the…

There is another dimension to the AI debate that investors may be overlooking: geopolitical and military risk. AI has enormous potential to expand productivity and global commerce, but its military applications introduce an entirely different…

Goldman Sachs warns that record Nasdaq positioning could leave the market vulnerable to significant futures selling as mega-cap earnings season unfolds. The risk is asymmetric: the upside requires near-perfect results, while a single major disappointment…

The U.S. dollar could be facing a difficult period. Mounting federal deficits, rising interest expenses, enormous Treasury borrowing requirements, and declining confidence in America’s fiscal outlook create a dangerous combination. A weaker dollar, rising bond…

The AI infrastructure euphoria has peaked and is now deflating. Investors are finally asking the question we’ve been posing since June: Who is actually going to pay for all of this? October closed with broad,…

The AI boom is becoming a financing problem, not just a valuation problem. As Brogan Group Equity Research has warned since last October, the enormous cost of building AI infrastructure is increasingly being funded by…

Alphabet (Google) suffered a historic decline Thursday, October 29, falling approximately 12.6% after disappointing earnings raised serious questions about the cost, financing and ultimate profitability of its massive AI investment. Selling is extending into today’s…

Technology futures are under pressure as Alphabet’s disappointing results and mounting AI costs challenge the assumption that massive capital spending will automatically produce massive profits. Alphabet’s shares fell roughly 10% premarket, while Microsoft advanced on…

Goldman Sachs warns that record Nasdaq positioning could leave the market vulnerable to meaningful futures selling as mega-cap earnings arrive. The risk is asymmetric: the upside requires near-perfect results, while one major disappointment could trigger…

France’s 10-year government bond yield has reportedly broken above 5%, with its yield premium over Germany approaching levels last seen during the 2011 eurozone crisis. Soaring debt, persistent deficits and political paralysis are undermining investor…