Torsten Asmus/iStock via Getty Images “Bull markets climb a wall of worry; bear markets slide down a river of hope.” - Wall Street adage Strong market entry points are rarely found during moments of comfort or clarity. Instead, the most attractive buying opportunities are typically associated with periods of market stress. From there, equities tend to climb a “wall of worry,” advancing in the face...
Torsten Asmus/iStock via Getty Images “Bull markets climb a wall of worry; bear markets slide down a river of hope.” - Wall Street adage Strong market entry points are rarely found during moments of comfort or clarity. Instead, the most attractive buying opportunities are typically associated with periods of market stress. From there, equities tend to climb a “wall of worry,” advancing in the face of issues such as recessions, inflation spikes, geopolitical tensions, policy errors and lofty valuations. This dynamic exists because what matters most for financial markets is if reality turns out better or worse than what has already been priced in. As a result, when expectations are low — as they are today — stocks can push higher if subsequent events turn out better than feared. From this perspective, skepticism is not a barrier to a bull market but rather part of its foundation. Doubts will eventually be assuaged and sentiment will improve, which should lead to hedges being unwound and cash moving off the sidelines. At present, the biggest “bricks” in the wall of worry include stagflation, private credit risks, job losses due to artificial intelligence (AI) and market concentration. The first is directly related to oil prices. How long these stay higher appears to be the most significant worry for investors at present. While current conditions invite comparisons to the 1970s, the U.S. economy is structurally different today — with energy independence achieved and energy intensity lower — suggesting the transmission from higher oil prices into growth and inflation should be more muted than the past. A good example of this can be found in direct spending on energy goods and services by U.S. consumers, which had fallen below 4% of consumption before the escalation of geopolitical tensions in the Middle East. This figure is nearly the lowest since World War II and well below the months heading into both the Iraq War in 2003 and the Gulf War in 1990. Exhibit 1: Don't Be S...
There are now a host of funds that use options to generate income from an individual stock. Here’s how they work—and why individual investors would be wise to steer clear.
There are now a host of funds that use options to generate income from an individual stock. Here’s how they work—and why individual investors would be wise to steer clear.
Revolut Ltd. will soon open its Western European headquarters in Paris, as the UK fintech firm last valued at $75 billion looks to fuel its growth by expanding in the continent. The company signed a 10-year lease for space in the historic Bourse business district in the French capital, according to a statement on Wednesday. The office is close to the Sentier metro station, a neighborhood sometimes...
Revolut Ltd. will soon open its Western European headquarters in Paris, as the UK fintech firm last valued at $75 billion looks to fuel its growth by expanding in the continent. The company signed a 10-year lease for space in the historic Bourse business district in the French capital, according to a statement on Wednesday. The office is close to the Sentier metro station, a neighborhood sometimes referred to as the “Parisian Silicon Valley.” The neobank will move into 116 Rue Reaumur by early 2027 and will eventually take up six floors in the tower, which isn’t too far from where the local banking watchdog, French Prudential Supervision and Resolution Authority (ACPR), is located. “It’s best of both worlds — traditional finance on one side, and technology on the other,” Beatrice Cossa-Dumurgier, Revolut’s chief executive officer for Western Europe, said in an interview. “This is really who we are and what we want to convey.” Revolut intends to occupy a total of 2,400 square meters of the open-plan space of the property that features a 19th-century facade and resembles a Parisian boutique shop. France is one of Revolut’s largest markets in terms of growth. The fintech has 7 million customers in the country and wants to increase to 10 million by the end of this year. The digital bank wants to become the primary bank for European workers but to also capture more business banking. Rivals in this task include BoursoBank — the French digital bank owned by Societe Generale SA, which recently reached nearly 9 million customers. Revolut’s new office will host staff for Paris and Western Europe, where the firm has committed to hire more than 400 employees . A big chunk of the positions in France are in risk and compliance — a key focus since the fintech submitted its banking license application in the country last year. It comes after the firm pledged to invest €1 billion ($1.2 billion) in France over the next three years. Securing a French banking license would strengthen i...
Germany's 67-Point Climate Plan: Fatal Yet Highly Effective Submitted by Thomas Kolbe Travel is said to broaden the mind. At least, this wisdom applies to those willing to leave their routines behind and not stubbornly defend their claimed spot by the pool. In the case of Economics Minister Katharina Reiche, the “aha” moment arrived at breathtaking speed. She is currently traveling in North Americ...
Germany's 67-Point Climate Plan: Fatal Yet Highly Effective Submitted by Thomas Kolbe Travel is said to broaden the mind. At least, this wisdom applies to those willing to leave their routines behind and not stubbornly defend their claimed spot by the pool. In the case of Economics Minister Katharina Reiche, the “aha” moment arrived at breathtaking speed. She is currently traveling in North America, specifically in Ontario, Canada. This week, the CDU politician toured the site of a so-called SMR, a small modular reactor. Apparently deeply impressed by the technology and the high efficiency of energy generation—which occurs almost emission-free and without waste—she came out on the sidelines of the CERAWeek energy conference as a converted nuclear energy supporter. As noted: travel broadens the mind. Little is known about the travel habits of her cabinet colleagues, yet it appears they prefer monotonous package trips over stimulating cultural journeys. The contrast could hardly be greater: Almost simultaneously, Environment Minister Carsten Schneider of the SPD presented a comprehensive set of measures to deepen the climate strategy. Schneider thereby proves that one can settle comfortably into a simulated pseudo-reality. Berlin mobilizes all resources to perpetuate the long-failed energy transition into the future. The return to nuclear power is not part of the plan. German politics has become dysfunctional, having constructed an ideologically dystopian pseudo-world whose stimulus-response patterns are no longer causally connected to the surrounding environment. The devastating signals from the German economy—the ongoing insolvencies and job cuts, clearly linked to the energy crisis and disastrous climate policies—are shielded from public scrutiny by political protective membranes. It almost seems as if the Berlin Degrowth Club is actively wishing for deindustrialization to free up capacity for its own clientelist networks. The climate plan complements this green co...
Israel’s Prime Minister Benjamin Netanyahu says his country supports Iran deal, but ceasefire doesn’t include Lebanon. Bloomberg's Dan Williams reports. (Source: Bloomberg)
Israel’s Prime Minister Benjamin Netanyahu says his country supports Iran deal, but ceasefire doesn’t include Lebanon. Bloomberg's Dan Williams reports. (Source: Bloomberg)
Asian equity markets surged on Wednesday after the US, Iran, and Israel agreed to a two-week ceasefire for negotiations. President Trump delayed planned strikes on Iran, calling it a “double-sided ceasefire". Iran will reopen the Strait of Hormuz for two weeks, with transit coordinated with its Armed Forces. South Korean and Japanese shares rose over 5%. Bitcoin ( BTC-USD ) climbed above $72,000 i...
Asian equity markets surged on Wednesday after the US, Iran, and Israel agreed to a two-week ceasefire for negotiations. President Trump delayed planned strikes on Iran, calling it a “double-sided ceasefire". Iran will reopen the Strait of Hormuz for two weeks, with transit coordinated with its Armed Forces. South Korean and Japanese shares rose over 5%. Bitcoin ( BTC-USD ) climbed above $72,000 in early April, reaching its highest level in three weeks. Gold prices jumped more than 2% to above $4,800 per ounce on Wednesday. WTI crude futures plunged more than 15% to below $95 per barrel on Wednesday. The benchmark KOSPI surged more than 5% to around 5,800 on Wednesday. The South Korean won strengthened to around 1,480 per dollar, rebounding sharply to its highest level since March. Japan ( NKY:IND ) rose 5.41% to above 55,700, while the broader Topix jumped 3.1% to 3,768 on Wednesday. The Japanese yen appreciated past 158.5 per dollar on Wednesday, rebounding sharply from the critical 160 level touched earlier this week. Japan's nominal wage growth rose by 3.3% year-on-year in February 2026, surpassing expectations of a 2.7% increase and edging up from the previous month's 3% gain. Japan’s current account surplus stood at JPY 3,932.7 billion in February 2026, little changed from JPY 3,938.4 billion a year earlier but exceeding market expectations of JPY 3,549 billion. Japan’s services sector index fell sharply to 42.2 in March 2026 from 48.9 in the prior month, missing market expectations of 48.0. China's ( SHCOMP ) rose 2.35% to 3,947 on Wednesday, while the Shenzhen Component surged 3% to 13,807, both extending their gains from the previous session , and the offshore yuan strengthened to around 6.82 per dollar on Wednesday. In a move to dampen the effects of global energy volatility, the National Development and Reform Commission confirmed that retail gasoline and diesel price controls will remain in effect starting today. Domestically, investors are turning their...
beast01/iStock via Getty Images The Simplify Volatility Premium ETF ( SVOL ) is an actively managed exchange-traded fund designed to provide investors with income through inverse exposure to the Cboe Market Volatility Index ( VIX ) while protecting returns through the use of a call options strategy. SVOL can be best utilized following periods of increased volatility like the present market environ...
beast01/iStock via Getty Images The Simplify Volatility Premium ETF ( SVOL ) is an actively managed exchange-traded fund designed to provide investors with income through inverse exposure to the Cboe Market Volatility Index ( VIX ) while protecting returns through the use of a call options strategy. SVOL can be best utilized following periods of increased volatility like the present market environment. While timing volatility increases can be challenging given the exogenous effects on the market, particularly in today’s high-risk geopolitical environment, taking a short position in volatility may achieve net returns under the assumption that volatility typically remediates down to an average rate. Given the heightened levels of volatility and the earnings potential for SVOL, I recommend SVOL with a "Buy" rating. As a result of the futures derivatives used to capture exposure, SVOL can only target daily exposure in terms of its target performance profile; holding SVOL longer than a single trading day may provide deviation from the -0.2x to -0.3x target range and may compound over time. Trading chart (TradingView) Investment Rationale for SVOL SVOL was designed to capture inverse exposure to VIX while offering protection from losses through the use of a strategic options overlay, limiting total losses by the fund. The strategy was designed to provide -0.2x to -0.3x the performance of short-term VIX futures, which may reduce the volatility of the price of the actual fund, providing a certain degree of stability for investors. Volatility has become a growing risk in recent weeks following the start of the war in Iran. The S&P 500 Index ( SPX ) has returned roughly -4% since the start of the military escalation of the war on February 28, 2026 , exhibiting days of sharp volatility throughout. While the market has made attempts to recover on signs of abating oil prices or an end to combat, positive news has been relatively short-lived, with the market falling back into dec...
The president who yearned for a Nobel Peace Prize and once revelled in the appearance of solving conflicts turned to the language of annihilation as he struggled to find a resolution to his war of choice in Iran. US President Donald Trump’s latest threat over the Iran war hit a new extreme on Tuesday as he warned “A whole civilisation will die tonight, never to be brought back again”, if Iran fail...
The president who yearned for a Nobel Peace Prize and once revelled in the appearance of solving conflicts turned to the language of annihilation as he struggled to find a resolution to his war of choice in Iran. US President Donald Trump’s latest threat over the Iran war hit a new extreme on Tuesday as he warned “A whole civilisation will die tonight, never to be brought back again”, if Iran failed to make a deal that included reopening the vital Strait of Hormuz. The Republican president’s...
Twenty years is a long time. In 2006, nobody had an iPhone. Streaming wasn't a verb. AI meant Allen Iverson. And a lot of the companies that dominate retail investors' portfolios today were either tiny, private, or barely public. The investors who have won in the past two decades haven't always done so by picking the flashiest stocks. Many were picking businesses with durable models and growing ma...
Twenty years is a long time. In 2006, nobody had an iPhone. Streaming wasn't a verb. AI meant Allen Iverson. And a lot of the companies that dominate retail investors' portfolios today were either tiny, private, or barely public. The investors who have won in the past two decades haven't always done so by picking the flashiest stocks. Many were picking businesses with durable models and growing markets, and using patience to let years of compound growth do its work. Here are two tickers I'd recommend considering for 20-year holding periods. Continue reading