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April 22, 2026 | Big Questions: What Is The Dollar Collapsing Against?
Among the recurring questions subscribers submit, the most common involve the concept of “dollar collapse.” A prominent stockbroker, in fact, recently posed a version of this question in a note to his customers: When [analysts] warn that fiat currencies are dying, the logical follow-up question — one that almost never gets answered — is: dying […]
April 22, 2026 | Grantham: Lessons from 60 Legendary Years of Investing
Jeremy Grantham is one of the greatest investors of all time and is famous for correctly identifying the four major stock market bubbles of his 60-year investment career. Looking at today’s environment, Grantham assesses the Iran War’s impact on oil prices, AI, meme stocks and the “Magnificent Seven”, drawing parallels with the 1970s, 1999, 2007 […]
April 22, 2026 | Iran – the Great Global Mess
US President Donald Trump reversed himself again as he continues to look for a way out of this quagmire, which has become a deeply unpopular conflict that’s driven up gas prices and threatens to plunge Europe into its own Great Depression. The Iranian government appears divided, and the military seems to be assuming power, declining […]
April 21, 2026 | Energy Crisis Risks Global Recession
Most countries maintain fuel inventories that they can draw down in the event of an interruption. But those inventories are finite, and as the Iran war drags on, they are, in many cases, running out. The result: Sectors like fishing, mining, and farming in many places are shutting down. Local economies are tipping into recession, […]
April 21, 2026 | Canada Turns Against Its Lifeline While Its Leader Invests in It
Mark Carney has now openly declared that Canada can no longer rely on the United States, stating that the relationship has become a “weakness” rather than a strength. Roughly three-quarters of Canada’s exports go to the United States, tying the two economies together in a way that cannot simply be undone by political rhetoric. […]
April 20, 2026 | Danielle on CBC Weekend Business Panel
The business panel joins to discuss the latest in U.S. and Israel’s war on Iran and more. Here is a direct video link.
April 20, 2026 | Spain Embraces the “Great Replacement”
Lately, conservatives have been accusing their political opponents of weaponizing immigration by letting in millions of undocumented immigrants, who then vote to keep their benefactors in power. The ostensible goal? A one-party state with Third World demographics. The left (Democrats in the US, socialists in Europe, and state-run media everywhere) have dismissed this accusation as […]
April 20, 2026 | Birthed in a Bull Market
Happy Monday Morning! If you thought last year was a tough year for the Canadian housing market, 2026 is shaping up to be even worse. Per CREA, national home sales slowed to a trickle in Q1, with the weakest start to the year since 2009. As my friend Ben Rabidoux with Edge Analytics notes, if you strip […]
April 20, 2026 | Insider Trading: Who’s Playing Who?
If only mere mortals were permitted to trade on advance information before it’s made public. Alas, that lucrative privilege is reserved for high-frequency traders and politicians. Throughout US President Donald Trump’s second term in office, traders have been betting millions of dollars just before he makes major announcements. The BBC has found a consistent pattern […]
April 19, 2026 | Divergent Data
I’ve been traveling for a week, reading and talking to a lot of readers and friends. It seems to me there is a great deal of angst in the media and newsletters and podcasts. And the more bearish you are, the greater your audience and clicks. There are so many analysts taking one or two […]
April 19, 2026 | Socrates & the War
QUESTION: Marty, I know you taught Socrates how to analyze rather than what. I remember you saying it checks every possible avenue, because you cannot predict what might replace fossil fuels as an energy source in the future. I really am amazed, and I can see why they tried to get you to turn over […]
April 19, 2026 | Explosive Rally Is a Dangerous Deception
You can hardly blame Trump for playing up the stock market’s spectacular performance whenever anyone challenges the way he is conducting the war, or claims the jihadists are winning. Even in the editorial rooms of the New York Times and Bloomberg, where a virulent strain of Trump Derangement Syndrome still lingers, news editors are finding their caustic opinions […]
April 19, 2026 | Mining is Hard: When Governments Demand a Bigger Cut
Governments, by their nature, are always starved for revenue. Most of the time, they respond by raising taxes on their subjects’ income or real estate (see New York’s “pied-à-terre” tax). But sometimes they go after foreign investors, like miners, who, they claim, are making too much money. This can be a game-changer for those mines and […]
April 18, 2026 | Trading Desk Notes for April 18, 2026
The leading stock indices surged to new record highs this week S&P futures closed green for 14 of the past 15 trading days, rising ~13% to new all-time highs. Half of those gains came this week. The market gapped down 100 points on Sunday afternoon following “no agreement” at the Islamabad peace talks, but then soared […]
April 18, 2026 | How Does Socrates Predict Civil Unrest?
April 18, 2026 | Tech Talk for Saturday April 18th 2026
The Bottom Line Peace has “broken out” in the Middle East (at least temporarily). Equity markets around the world responded accordingly on Friday. Look for more good news this week! First quarter results released to date by U.S. companies generally have exceeded consensus estimates (notably by most major banks). Frequency of first quarter reports by […]
April 17, 2026 | The Hang Seng index is in a unique bear market
Remember the investors who saw what nobody else could see in 2007? There may be another moment like that unfolding right now — this time in Hong Kong. The Hang Seng Tech index is dirt cheap today and the companies leading it are doing well in their businesses even as they trade at extremely low […]
April 17, 2026 | Digital Currency and the End of Financial Privacy
The push toward digital currency is being framed as innovation and efficiency, but when you strip away the marketing language, what is unfolding is a structural transformation of the financial system that shifts control away from individuals and concentrates it within governments and central banks. The Bank for International Settlements has confirmed that more […]
April 16, 2026 | Stocks Betting This Time is Different
Expectations for a resolution of blockages in the Strait of Hormuz have driven a risk-on rebound over the past 2 weeks. Since 1928, this is the first time the S&P has made new all-time highs within 11 days of falling 5-10% (Bespoke). Under the hood, breadth was extremely weak, with just 12 companies making new […]
April 16, 2026 | The Rise of AI in Payments Is Not About Convenience
Visa has just unveiled a new suite of artificial intelligence tools designed to overhaul how credit card disputes are handled, and once again this is being presented as a simple evolution toward efficiency and improved customer experience, yet when you step back and examine the scale of what is unfolding, this is clearly part […]
April 15, 2026 | Canadian Bank Regulator Cites Rising Loan Defaults as Number One Risk
As of January 2026, 3.1 million Canadian mortgages, or 52 percent of all outstanding, were due to renew by the end of 2027, according to the latest report from the Office of the Superintendent of Financial Institutions (OSFI). Of these renewals, 1.3 million are fixed-rate mortgages or variable-rate mortgages with fixed payments that will be […]
April 14, 2026 | Used EV Market Exposes the Cracks
Reports indicate that a wave of used EVs is beginning to hit the market as leases expire, forcing automakers to rethink how they handle pricing and inventory. What was once sold as the inevitable future is now a dud cause with minimal demand. When those vehicles return to the secondary market, they must compete on […]
April 14, 2026 | Oil Drops, Stocks Soar — Defying the Headlines
It has been a wild 12 days. Peace talks have dissolved, the Strait of Hormuz remains effectively shuttered, and the US has moved from rhetoric to an active naval blockade of Iranian ports. By every traditional rulebook, oil should be moonshotting—yet prices are sliding while the stock market rallies. Today, we look at why the […]
April 14, 2026 | U.S. Oil Blockade| About That
President Donald Trump announced the United States would apply its own blockade of the Strait of Hormuz in retaliation for Iran’s de facto shutdown, which is now stretching into its seventh week. But, as Andrew Chang explains, responding this way to Iran’s control of 20 per cent of the world’s energy supply could pose several […]
April 13, 2026 | Shortages Create Gluts
Happy Monday Morning! As we have highlighted previously, the rental market is undergoing a significant correction, and it appears poised to continue. The city of Vancouver saw 2300 purpose-built rental units completed in 2025, the highest in four decades! Source: Daily Hive Keep in mind this is completions. We still have a pipeline full of […]