Five Trump announcements about the Iran war. Five market rallies. Every single one fully reversed within a week.By Friday, the market didn't even bother with a rally.That's the story of the last month. The market’s been trading th...

Part of the problem with drafting these memos is the news can change quickly. When we wrote this on Sunday night, we noted: “If the deadline passes without significant escalation, it may end proving Trump’s Friday missive. It may b...

The 1973 Arab Oil Embargo removed 7% of the world's oil supply. It gave us gas lines, 11% inflation, and interest rates that eventually hit 20%. It defined a decade.The Strait of Hormuz closure is removing 20%.And yet — Wall Str...

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The Strait of Hormuz is 21 miles wide.20% of the world's oil flows through it every day. As of Saturday, it's effectively closed.We've been warning about this exact scenario since April 2024. Now it's here.In this week's me...