Brian Gilmartin

CFA, MBA, BBA - been in the investing business since 1990 on both the fixed-income and equity sides of the capital markets. Started Trinity in 1995.

[Brian Gilmartin @TrinityAssetMan]

Love Marc. No BS about the man at all.

[Bitcoin Teddy @Bitcoin_Teddy]

MARC ANDREESSEN: "We had meetings with the Biden admin where they told us to not even start AI companies because there's no way they'll let them succeed."

JOE ROGAN: "What do you do after a meeting like that?"

MARC ANDREESSEN: "You go endorse Donald Trump."

LMAO

[Brian Gilmartin @TrinityAssetMan]

@wesbury Makar

[Brian Gilmartin @TrinityAssetMan]

44 years later - from Oak Brook in 1982 - it never changes.

[Brian Wesbury @wesbury]

Mr Sanders, you have an insatiable desire to spend other people’s money. It doesn’t grow on trees and it’s not liquid.

[Brian Gilmartin @TrinityAssetMan]

She’s excellent.

[Wilfred Frost @WilfredFrost]

SP500 HAS ROOM TO RUN – that’s the message from Lori Calvasina – Head of US Equity Strategy at RBC Capital Markets – in the latest episode of The Master Investor Podcast.

At 23.6x PE she thinks the market is “not cheap” but “has room to run”, & is much more attractive that the 28x multiple reached last Summer/Fall, & hasn’t bounced that much since the 21x Iran War low in late March. Despite the bounce since then she assesses investor sentiment to still be neutral. We also discuss whether the 9% peak to trough pullback during March was underdone – Lori explains she thinks it was a rational move as long as we don’t expect a recession.

She outlines why she likes Growth over Value, US over International, & likes Small Caps but loves ‘AI Fast Lane’ Growth. We also discuss the likely market impact from the Mid-Terms; of the new Fed Chair; & the upcoming slate of mega cap IPOs.

Timestamps:
0:00 Intro
2:39 How to form an SP500 target
5:09 New SP500 target of 7900
7:24 Range of bull & bear targets
8:24 Where is sentiment?
10:44 Energy, Materials & Tech growth rates stand out
12:14 AI Fast Lane not impacted by Iran War
15:29 Sector valuation multiples
17:42 SP500 23.6x PE, & where that sits in recent range
22:17 Stressing the target with big Iran War impact
26:45 Lessons from Covid & Tariffs mean resilience for 2026 at least
29:36 US/China & tariffs
32:31 What will US Mid Terms mean for markets
35:37 Fed outlook under Warsh
37:19 Like small caps, love large cap growth
39:52 US over International, despite valuation gap
42:10 Growth over Value
43:32 Pressure from summer IPOs?
44:45 Conclusion – Not cheap, but room to run
@LoriCalvasina @RBC @rbccm

[Brian Gilmartin @TrinityAssetMan]

Wow…

[Sassafrass84 @Sassafrass_84]

"Arresting Black people for robbery, drugs, rape, violence, and murder by putting them in prison is racism. Plain and simple. Prison is not the answer. Freedom is." ~Brandon Johnson.

So, letting them run free to commit more crimes and loss of life makes more sense?

There should be a litmus test to be in government.

[Brian Gilmartin @TrinityAssetMan]

What a great idea by the “diverse individuals” - bet that went well.

[₿en Wehrman @benwehrman]

In tonight's news, some diverse individuals decided to start a fight with an entire platoon of U.S. Marines, and it went as expected.

📍 6th St, Austin TX

[Brian Gilmartin @TrinityAssetMan]

It wasn’t just Illinois, but Chicago too, under the Daley family for years.

[Sara Eisen @SaraEisen]

While Mayor Mamdani got pummeled by Ken Griffin during our convo at Milken, Ken had some choice words for @JBPritzker as well:

Ken Griffin: “What did it feel like in Chicago with JB Pritzker as governor? It felt like being a salmon swimming upstream to die.”

[Brian Gilmartin @TrinityAssetMan]

@herbgreenberg Good call

[Brian Gilmartin @TrinityAssetMan]

Yep

[Brian Gilmartin @TrinityAssetMan]

@TheRealKWS Me too

[Brian Gilmartin @TrinityAssetMan]

If you are a an SP 500 earnings watcher, or SP 500 earnings geek, and watch the numbers, you need to be following Howard Silverblatt (@hsilverb) of Standard & Poors. Absolutely some of the best earnings data and analytics from the source.

[Howard Silverblatt @hsilverb]

$SPX total return contributions for July&YTD,’21:IT(up 3.9%inJul,18.2%YTD) accounts for44%ofJul $SPX total return&27%YTD, as Commun Sv 3.6%,23.9%accounts for 16.5%&14.3%; for Jul $AAPL accounts for 16.2% of the gain, $MSFT 12.2%; YTD $GOOG/L 9.9%, $MSFT 8.3%, worst is $TSLA -0.2%

[Brian Gilmartin @TrinityAssetMan]

@TheRealKWS KWS, don’t know who at Standard & Poors picked up the analysis. I only found it from Howard publishing his own work. Don’t see it anymore.

[Brian Gilmartin @TrinityAssetMan]

Bad Stevie Wonder impersonation

[Brandon Tatum @TheOfficerTatum]

Makai Lemon slid from top-10 to No. 20 because he bombed his Combine interviews with a horrible attitude.

Teams called it a “disaster,” questioned his maturity, and some removed him from their boards.

Talent got him noticed but character got him passed up.

[Brian Gilmartin @TrinityAssetMan]

Truth. John Roque - technical analyst called that top. Semi’s were 3-4 std dev above 200-day in mid-March, 2000. The nasdaq, had also doubled from sept ‘99 to March ‘00. Up 100% in 6 mos.

[Helene Meisler @Chartfest1]

In 2000 the SOX nearly doubled in the final six weeks from late January to early March.

[Helene Meisler @Chartfest1]

In 2000 the SOX nearly doubled in the final six weeks from late January to early March.

[Brian Gilmartin @TrinityAssetMan]

@Cubskickass100 Too hot, too soon. But it beats the alternative. It’s a long season in baseball.

[Brian Gilmartin @TrinityAssetMan]

@Countcristo44 Old guy has game. Took a ton of punishment.

[Brian Gilmartin @TrinityAssetMan]

@AriFleischer @toyotamok You’re just getting that now?

[Brian Gilmartin @TrinityAssetMan]

@TheBabylonBee Gotta love “The Bee”

[Brian Gilmartin @TrinityAssetMan]

@Stephanie_Link You aren’t kidding. No sign of progress.

[Brian Gilmartin @TrinityAssetMan]

Terrible action today.

[Kevin Gordon @KevRGordon]

The Russell 2000 is now below its November 2021 and November 2024 peaks ... essentially unchanged over the past 4.5 years