Sobin

[Sobin @Sobin68020325]

@rogersmichalski What would make you more confident that the bond weakness is reversing?

[Sobin @Sobin68020325]

@rogersmichalski What would you need to see for this Fear reading to turn into a real buying opportunity?

[Sobin @Sobin68020325]

@rogersmichalski What would convince you that the tech weakness is becoming a bigger problem?

[Roger Michalski @rogersmichalski]

Several weeks ago I started pointing out to you that tech is becoming increasingly vulnerable.

I mentioned that chips are not seeing the reaction they are used to seeing and I mentioned that XLY - discretionary is soft - that led me to fear that tech is going to sell off - I did mention that I'm hoping to see the market cap out XLY and SMH coming into XLC - So far we are seeing EXACTLY that - let's hope it stays that way - otherwise we are all going at QQQ and asking ourselves where's the beef???

[Roger Michalski @rogersmichalski]

TLT bond levels overnight - notice we are right at the lows - not great for the market today.

[Sobin @Sobin68020325]

@rogersmichalski What indicator would you watch to determine whether this spending cycle is still healthy?

[Sobin @Sobin68020325]

@rogersmichalski @HoomTere23588 That's reassuring. Consistency in the investment process becomes especially important as a fund grows.

[Sobin @Sobin68020325]

@rogersmichalski Is a monthly distribution generally more attractive than a quarterly one for income investors?

[Sobin @Sobin68020325]

@rogersmichalski @cell99zero That's important. A high distribution rate by itself doesn't necessarily tell you whether the strategy is appropriate.

[Sobin @Sobin68020325]

@rogersmichalski Interesting that this is the 132nd year of the federal holiday. That's quite a long tradition

[Sobin @Sobin68020325]

@rogersmichalski @arthurcianorte Especially now, when so much of the work that keeps things moving happens quietly in the background.

[Roger Michalski @rogersmichalski]

The five largest hyperscalers are on track to spend near $760 billion on infrastructure in 2026, nearly double 2025. This is the capex commitment that underwrites the load projections priced into PJM's capacity market.

[Roger Michalski @rogersmichalski]

Yields remain above 5 percent across investment grade and high yield credit even as spreads sit at multi-year tights. The income comes from the rate curve, not from spread pickup, and that changes the case for active credit selection.

[Roger Michalski @rogersmichalski]

QVOL AUM doubled last week!
Celebrating $20M Assets Under Management
Infrastructure Capital Nasdaq Option Income ETF

[Roger Michalski @rogersmichalski]

Fellow Investor,

On Monday, September 7th, America will celebrate Labor Day.

Every year on the first Monday of September the country stops to honor the laborers who’ve helped build these United States.

Established as a federal holiday in 1894, this year will mark the 132nd year we celebrate. Across the country, Americans will enjoy a 3-day weekend, parades and BBQs. 

But what if this year’s Labor Day is the last one ever? 

If you listen to some of the doom and gloomers out there ranting about AI displacing America’s workforce, it very well could be. 

Elon Musk has warned:

“Probably none of us will have a job. AI+Robots will be able to do everything…”

Ray Dalio of Bridgewater Associates, said:

“AI is going to enhance productivity… but it’s also going to bring jobs down a lot.”

And true to his “Sage of Omaha” nickname… Warren Buffett foresaw AI’s job-killing potential years ago, when he said:

“…[AI] would result in significantly less employment…”

Clearly, there is a growing fear that our jobs and our way of life is going to be inevitably swallowed up by AI. 

IF you’re one of those people who thinks that way…

I’ve got two words for you. 

George Gilder.

If you don’t know the name, let me tell you about him.

For more than 40 years he’s been America’s foremost futurist and technology investor. 

He’s met personally with presidents, starting in the 70s when he pressed a microprocessor into the Gipper’s hand and told him this was the way of the future.

Along the way he’s called out companies like Apple, Amazon, and Netflix years before the mainstream learned about them.

When George talks about the future of technology, smart investors have listened for more than four decades.

And today, George is telling everyone who will listen when it comes to AI…

RELAX…

It’s not the end of jobs.

It’s not the end of Labor Day.

It’s the start of something new…

Just as it’s been throughout history. 

When a new technology takes over… yes jobs are displaced, but entirely new jobs and even entire industries are created as well. 

George believes the same will happen with AI…

Especially now, as we’re right on the cusp of the next big leap for AI…

A new chip platform with 100X faster processing speed… That uses 90% less energy.

And George has  identified the three companies leading the charge in bringing these to market. 

He calls them The Trillion Dollar Triangle.

He’s put together a quick video sharing all the details.

[Sobin @Sobin68020325]

@william_piro @rogersmichalski Exactly. The credit selection piece is what I think gets overlooked.

[Sobin @Sobin68020325]

@rogersmichalski Interesting positioning data investors really are leaning hard against bonds right now.

[Sobin @Sobin68020325]

@rogersmichalski Haven’t seen fund managers this underweight bonds in a long time.