Having tactically traded through the 1998 Russian crisis and LTCM collapse, the dot-com bubble and crash, the 2007–09 financial crisis, the COVID shock, and everything since—I can’t stress this enough: The best countertrend setups don’t come from just buying dips. They come after failed breakdowns or clear bullish divergences. Without those signals, you’re simply buying weakness and hoping for a bounce.

The sunset over Neyland tonight is insane. Tennessee sunsets are unmatched.

Washed-out market breadth is BULLISH short-term, NOT bearish, it's a countertrend signal. After most stocks have already trended down, those who wanted to sell have probably sold, so we start looking for reversal.

Mornin’

Texas—Tennessee was the highest rated noon game on ESPN/ABC in a decade. The SEC going to nine conference games is crushing all college football competition.

America needs more energy, and Tennessee is ready to lead the way. The Clinch River project will deliver reliable, affordable power while strengthening our energy security and keeping Tennessee at the forefront of nuclear innovation. This has been years in the making, and thanks to strong local, state, and federal leadership, Tennessee is where America’s nuclear future is being built.

First cook on the Argentine grill.

I rotate, not allocate — based on the odds of asymmetric risk/reward. If I were a passive stocks-and-bonds investor, fully invested all the time, I’d hit rebalance right now.

Nothing says college football culture quite like the Vol Navy on a Saturday in Knoxville. ⛵️🍊 From houseboats to Bama rivalries, Tennessee fans came ready.

I don't need to know what's going to happen next. I need to know what I'm going to do when it happens.

One big issue: The starting point matters. Ibbotson’s Supply-Side model reminds us why starting points matter: that 10.1% return since 1926 relied on a 5.3% starting yield and 10x P/E. Today’s starting line (1.3% yield, 27x P/E) means the next 15–20 years will look very different from the last 100.

The market is structurally fragile right now. Participation is narrow- classic late-cycle. Hedge funds are positioned defensive with low net leverage. And overall valuations are extreme. Until breadth snaps back hard and the broader index starts leading the mega-caps, being too long at these levels offers relatively poor asymmetry.

Neyland Stadium is the first College Football stadium to ever receive a flyover from Air Force One. Other sporting events include the Daytona 500, and Northwest Stadium for the Detroit Lions at Washington Commanders.

So proud of this team and this university! Greatest atmosphere in college football!🏈 🍊 #VFL

GO VOLS!!!!

Johnny Knoxville is ready for GameDay ... maybe a little TOO ready 😂

"Let's let it rip." The ole gunslinger's still got it 🎯

Air Force One just flew over Neyland Stadium in pre-game

Big Orange vs. Burnt Orange. @CollegeGameDay is LIVE from Rocky Top! 📺 ESPN 📲 1tn.co/4d91fbH