Billionaire's Portfolio

November 23, 2020 In the face of broadly rising asset prices today, gold was down 2%.  As we discussed on…

November 20, 2020 We've talked for months about the posturing between the Democrats and the Trump administration on a second relief…

November 19, 2020 As we've discussed in recent days, the markets continue to underprice the risk of more chaos surrounding…

November 18, 2020 We now have three vaccines that claim better than 90% efficacy. For what is considered to be such…

November 17, 2020 Stocks traded lower today, but remain near record highs.  The VIX, a reflection of the market's perception of…

November 16, 2020 Stocks get another lift today on a second consecutive 7am, Monday morning vaccine announcement.   Last week, bond…

November 12, 2020 As we end the week, the pieces seem to be falling in place for another lockdown scenario.  …

November 12, 2020 This daily note, which I've been writing for almost five years, is about connecting dots.   I talk a…

November 11, 2020 The flood gates have opened on vaccines -- after the election, predictably.  Let's take a look at what…

November 10, 2020 Let's take a look at oil. Over the past week, the biggest mover in global markets, has…