<h3><strong><a href="https://themarketear.com/posts/ckrAp5FJzk">BE IN THE KNOW, BEFORE EVERYONE ELSE</a></strong></h3><p>A PREMIUM MEMBERSHIP GIVES YOU THE CRITICAL ADVANTAGE.</p><p>SIGN UP <a href="https://www.zerohedge.com/signup">HERE</a>.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdcd930a7-6437-437c-b826-23f633d43a94_1358x777.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/ckrAp5FJzk" rel="noopener noreferrer" target="_blank">BE IN THE KNOW, BEFORE EVERYONE ELSE</a>" class="sizing-normal" height="777" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdcd930a7-6437-437c-b826-23f633d43a94_1358x777.png" title="<a href="https://themarketear.com/posts/ckrAp5FJzk" rel="noopener noreferrer" target="_blank">BE IN THE KNOW, BEFORE EVERYONE ELSE</a>" width="1358" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><h3><strong><a href="https://themarketear.com/posts/caPJCOotLj">Not your bull break out candle</a></strong></h3><p>SPY gapping up, but with a doji like candle. This is indecision at highs. Pay close attention....</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5864d566-c46e-4050-916b-37fb225cbf46_1337x684.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/caPJCOotLj" rel="noopener noreferrer" target="_blank">Not your bull break out candle</a>" class="sizing-normal" height="684" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5864d566-c46e-4050-916b-37fb225cbf46_1337x684.png" title="<a href="https://themarketear.com/posts/caPJCOotLj" rel="noopener noreferrer" target="_blank">Not your bull break out candle</a>" width="1337" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a><figcaption class="image-caption">Source: Refinitiv</figcaption></figure></div><h3><strong><a href="https://themarketear.com/posts/ca9I0oFSVY">That was quick</a></strong></h3><p>Apple at the most overbought levels since the summer of 2021.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8441de6-af49-4755-bdb7-89c19acf71ca_1441x739.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/ca9I0oFSVY" rel="noopener noreferrer" target="_blank">That was quick</a>" class="sizing-normal" height="739" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8441de6-af49-4755-bdb7-89c19acf71ca_1441x739.png" title="<a href="https://themarketear.com/posts/ca9I0oFSVY" rel="noopener noreferrer" target="_blank">That was quick</a>" width="1441" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a><figcaption class="image-caption">Source: Refinitiv</figcaption></figure></div><h3><strong><a href="https://themarketear.com/posts/cYkrDe_0vp">Feeling stressed in Apple?</a></strong></h3><p>You are not alone. Mutual funds are running a big underweight in Apple and they just missed this massive move. GS: "The avg mutual fund holds AAPL as a 250bps underweight (almost 2x the next most Mag 7 underweight stock)".</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd9bf247-7aed-4c57-a7b8-a801401066f2_1326x464.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/cYkrDe_0vp" rel="noopener noreferrer" target="_blank">Feeling stressed in Apple?</a>" class="sizing-normal" height="464" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd9bf247-7aed-4c57-a7b8-a801401066f2_1326x464.png" title="<a href="https://themarketear.com/posts/cYkrDe_0vp" rel="noopener noreferrer" target="_blank">Feeling stressed in Apple?</a>" width="1326" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a><figcaption class="image-caption">Source: GS</figcaption></figure></div><h3><strong><a href="https://themarketear.com/posts/c9-i7BWvTR">Busy buybacks</a></strong></h3><p>GS sales: "Our buyback desk is currently running at 1.6x ytd daily avg notional executed. It was by far the busiest our trading desk has been since MSCI rebal (when asset managers used rebal to move in and out of some sizable positions)..."</p><h3><strong><a href="https://themarketear.com/posts/cBxy6Wb8Nz">Inflow mania</a></strong></h3><p>Rubner: "Global equity funds have seen $190.5 Billion inflows YTD. This is the second largest equity inflows on record (only 2021 saw more inflows). This is +$1.7B worth of equity inflows per day."</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0e28aea1-00df-45fb-a9e7-137bc737c1f6_896x604.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/cBxy6Wb8Nz" rel="noopener noreferrer" target="_blank">Inflow mania</a>" class="sizing-normal" height="604" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0e28aea1-00df-45fb-a9e7-137bc737c1f6_896x604.png" title="<a href="https://themarketear.com/posts/cBxy6Wb8Nz" rel="noopener noreferrer" target="_blank">Inflow mania</a>" width="896" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a><figcaption class="image-caption">Source: GS</figcaption></figure></div><h3><strong><a href="https://themarketear.com/posts/cF1GRBS6vd">Inverse risk aversion</a></strong></h3><p>The higher we go, the more hated downside protection is, at least judging by how skew is priced. SDEX touching year low levels...</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F59caa385-12dd-40f6-8566-382e8f729ec1_1466x746.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/cF1GRBS6vd" rel="noopener noreferrer" target="_blank">Inverse risk aversion</a>" class="sizing-normal" height="741" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F59caa385-12dd-40f6-8566-382e8f729ec1_1466x746.png" title="<a href="https://themarketear.com/posts/cF1GRBS6vd" rel="noopener noreferrer" target="_blank">Inverse risk aversion</a>" width="1456" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a><figcaption class="image-caption">Source: Refinitiv</figcaption></figure></div><h3><strong><a href="https://themarketear.com/posts/cRi2pSRRyE">Fear of missing the upside</a></strong></h3><p>JPM's Matt Reiner sums it up: "my clients are trimming safety and adding to momentum longs. While there’s no panic, and very little risk being applied, clients are worried about missing upside not downside."</p><h3><strong><a href="https://themarketear.com/posts/cfksJtJnaP">The case for peak NVDA</a></strong></h3><p>NVDA stock Y/Y% change tracks the growth rate of revenue & EBITDA revisions, and both look peaked.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a82f718-5177-41af-88b9-6c0465a8419b_794x714.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/cfksJtJnaP" rel="noopener noreferrer" target="_blank">The case for peak NVDA</a>" class="sizing-normal" height="714" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a82f718-5177-41af-88b9-6c0465a8419b_794x714.png" title="<a href="https://themarketear.com/posts/cfksJtJnaP" rel="noopener noreferrer" target="_blank">The case for peak NVDA</a>" width="794" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a><figcaption class="image-caption">Source: Stifel</figcaption></figure></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7dcac919-7259-436e-9447-8417fdac49bb_774x714.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/cfksJtJnaP" rel="noopener noreferrer" target="_blank">The case for peak NVDA</a>" class="sizing-normal" height="714" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7dcac919-7259-436e-9447-8417fdac49bb_774x714.png" title="<a href="https://themarketear.com/posts/cfksJtJnaP" rel="noopener noreferrer" target="_blank">The case for peak NVDA</a>" width="774" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a><figcaption class="image-caption">Source: Stifel</figcaption></figure></div><h3><strong><a href="https://themarketear.com/posts/c-JETYrzPR">Elections volatility has come down as well</a></strong></h3><p>Time to look forward...After the CPI/FOMC, clients will likely focus on the elections, which historically lead to risk reduction. In 2016, the SPX corrected almost 9% from early September to the end of October. Goldman's model predicts a 2.74% implied move for the upcoming election, with the first debate on June 27th.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8572296a-ce89-4645-809c-56add0100332_939x554.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/c-JETYrzPR" rel="noopener noreferrer" target="_blank">Elections volatility has come down as well</a>" class="sizing-normal" height="554" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8572296a-ce89-4645-809c-56add0100332_939x554.png" title="<a href="https://themarketear.com/posts/c-JETYrzPR" rel="noopener noreferrer" target="_blank">Elections volatility has come down as well</a>" width="939" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a><figcaption class="image-caption">Source: GS</figcaption></figure></div><h3><strong><a href="https://themarketear.com/posts/cKguQAjlaV">Correlations crashing</a></strong></h3><p>Implied correlations continue crashing. The COR3M just printed another new all time low.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa7ef2164-8124-4c17-9feb-c6d46c76ef99_1392x736.png" target="_blank"><div class="image2-inset"><source type="image/webp" /><img alt="<a href="https://themarketear.com/posts/cKguQAjlaV" rel="noopener noreferrer" target="_blank">Correlations crashing</a>" class="sizing-normal" height="736" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa7ef2164-8124-4c17-9feb-c6d46c76ef99_1392x736.png" title="<a href="https://themarketear.com/posts/cKguQAjlaV" rel="noopener noreferrer" target="_blank">Correlations crashing</a>" width="1392" /><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg class="lucide lucide-refresh-cw" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg class="lucide lucide-maximize2" fill="none" height="20" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" stroke-width="2" viewBox="0 0 24 24" width="20" xmlns="http://www.w3.org/2000/svg"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a><figcaption class="image-caption">Source: Refinitiv</figcaption></figure></div><h3><strong><a href="https://themarketear.com/posts/cDn5GDjKzR">Schwarzman says...</a></strong></h3><p>1. I've only been in this movie numerous times… to the extent that people have a generalized feeling that real estate isn't so wonderful, it provides a amazing opportunities for us because we're the best capitalized real estate buyer in the world.</p><p>2. On AI, you people who don't want to change, you're going to be damaged from either a little bit to severely. And if we're adopters and we want to do this, we will be the winners and there's no choice. You cannot wait. You have to be in this in this game. And I truly believe that.</p><p>--- Stephen Schwarzman, Chairman, CEO & Co-Founder of Blackstone </p>