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.

I don’t read it as the S&P 500 is cheap, but as: earnings-growth expectations have become extraordinary.

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.