1. Insane Statistic-Prof G

Prof G Markets

We’re looking at one of the biggest moments in financial markets in a really long time. Between the OpenAI, Anthropic, and SpaceX IPOs, we’re going to be inserting almost $4 trillion in value into the markets, while, at the same time, adding zero dollars in earnings because all of them are burning billions in cash. SpaceX lost $5 billion last year. OpenAI is expected to lose $14 billion this year.

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2. Software Group Below All-Time Highs….Only 22 Positive for 2026

Koyfin

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3. ADBE Negative Now on 5-Year Number

Google Finance

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4. DPZ Dominos Pizza Crushed the Market 2010-2020….Now 5-Year Negative Total Return

Google Finance

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5. Emerging Markets +50% vs. S&P +31% One Year

YCharts

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6. Emerging Stocks an Even Better Bargain After Best Rally in Years

by Srinivasan Sivabalan of Bloomberg News, 4/27/26

Comparing forward earnings multiples, MSCI’s emerging index now trades at a 44% discount to the S&P 500 — the biggest gap since April 2025.

The discount isn’t a sign of weakness. Emerging stocks look cheaper versus the US market because analysts have lifted profit forecasts for emerging-market companies by 30% this year, dwarfing an average 10% upgrade for S&P 500. Earnings estimates represent the denominator in the price-to-earnings ratio, so when they climb, valuations drop — even as share prices rise.

Advisor Perspectives

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7. They Chose Careers in the Trades and Still Wound Up With Debt-WSJ

As community colleges and union apprenticeships fill up, more students are turning to pricier training options for blue-collar careers

52% of Students Waitlisted in High School Vocational School.

WSJ

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8. Condo Price Drops

By Wolf Richter for WOLF STREET.  In 31 bigger markets, prices of mid-tier condos through March have dropped between -12% and -31% from their respective peaks. In five of them, prices dropped by over 20%. The 27 most salient of those markets are shown in charts below, plus the City of Chicago, though it doesn’t belong on this list, but like other cities, it has a condo market where prices are back where they’d been 20 years ago.

Wolf Street

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9. Iran’s Mosquito Navy Fleet 3k-5k Boats

Perplexity

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10. Breathwork-Seth’s Blog

[Off topic, but I hope it might be useful]

Mindfulness can improve your life. So can stillness and spiritual grounding. This is not a post about that.

Breathing is an architectural challenge and a chemical necessity.

We breathe about 20 pounds of air a day (and if you’ve ever tried to weigh air, you can imagine that this is quite a bit.) Why bother?

The body is fueled by a series of chemical reactions, and most of them require the right balance of oxygen and carbon dioxide. The body is finely tuned to be aware of the available quantity of each, and reacts accordingly.

We evolved to have a particularly complicated system for ingesting air. We have two nostrils and a mouth. Thanks to speech and other requirements, the mouth is well suited to rapid inhalations and exhalations.

Which is a problem.

The first lesson of James Nestor’s book is simple: Shut your mouth.

Spend three days breathing only through your nose. Even when you work out. Especially then. (Except swimming. I tried. It doesn’t work.)

And consider slightly taping your mouth when you sleep. Just a small piece of surgical tape, about a half inch across–right in the center. Put some lip balm on before applying so it won’t irritate you. Don’t do this if you have apnea or other issues, or a doctor who suggests against it. It’s a very small piece of tape, easily removed.

That’s it. Three days.

Nestor spends hundreds of pages explaining a huge range of benefits and volumes of peer-reviewed research. Some of it might be a bit overblown, some is surprising, but all of it makes sense.

But you don’t need a Ph.D. to determine how it feels after three days. It’s like discovering you’ve been using the wrong door to get into and out of your house.

I had such a good experience that I felt like it was worth sharing. Breathe through your nose, small sips, not gulps. You may find that you sleep better, snore less, run further, and are less stressed. 

No one told me. Now we know. 

https://seths.blog

1. Sell in May Died in Last Decade

Seasonality. “Yes, the worst six months are coming up soon (May – October). But these six months have been lower only once the past decade and last year was the greatest Sell in May return ever (+22.8%). We are expecting another strong return this year.”

@ryandetrick

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2. Semiconductor Sector Another Leg Up in Market Cap

Source: Topdown Charts Professional

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3. Tech Dominance Now Global Stock Market Bull

The Kobeissi Letter

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4. Tech Multiple Compression Chart

The Irrelevant Investor

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5. 40% of Americans Earning 500k are Living Paycheck to Paycheck

Linkedin

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6. Tim Cook Run at AAPL

Barron’s

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7. Railroad were Much Bigger than Mag 7 Market Cap….60% of U.S. Market Cap

Howie Town

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8. Bipolar Inventory  U.S. Housing Market

REALTORS

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9. How Much Money You Need to Buy Luxury Home in Each American State

Peter Mallouk

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10. The Number 1 Pick in the NFL Draft Just Gave a Master Class in Emotional Intelligence. Here Are 3 Lessons

In a recent interview, Fernando Mendoza shows he was the NFL’s top pick not just because of his physical ability, but his emotional intelligence as well.

EXPERT OPINION BY JUSTIN BARISO, AUTHOR, EQ APPLIED @JUSTINJBARISO

Balance humility, modesty, and confidence

Patrick’s first question to Mendoza was: “If I would have told you last year you were going to win the Heisman, what would you have said?”

Mendoza’s answer was near perfect. He responded seemingly authentically and with humility: “I would have said, what are you on? That would have been out of the realm of reality.”

He followed that, though, with a more measured response, acknowledging that there were projections lauding his raw ability and potential. After which he found a way to credit his defensive coordinator and teammates.

“In reality, at that point a year ago, I had just made the move from Cal to Indiana and I was getting my butt kicked by the Indiana defense in spring ball, by that amazing Bryant Haines defense that proved to be the best defense in the nation,” Mendoza said.

The takeaway: This is a rare skill of emotional intelligence—the ability to balance humility (freedom from pride or arrogance) with modesty (recognition of one’s limitations) and confidence from healthy self-esteem (recognition of one’s strengths and abilities).

It’s healthy to recognize your strengths and what others appreciate about you. But if you recognize your weaknesses, too, and shift attention to others, you’ll build self-awareness and promote healthier relationships with those around you.

Focus not just on what you say, but also how you say it

If you watched last year’s college football national championship, you saw Mendoza pull off one of the most amazing plays in football history. On fourth down and five yards to go, Mendoza ran for 12 yards, fighting through several defenders, scoring what would become the winning touchdown.

Patrick wanted to know what the huddle before that play was like, and Mendoza didn’t disappoint. He described the huddle as “a very special place” and “football heaven,” before detailing exactly what happened.

“It’s fourth down in the national championship,” said Mendoza. “You have 10 other players, we’ve worked all this way through an entire season, creating as brothers, looking at you, seeing what’s the play call, how much does he believe in this play call by the way he says it, and does he have any other messaging. And, so, at that point, I was able to deliver the play call with complete confidence.”

The takeaway: This is another emotional intelligence skill that many must explicitly learn: The value in your communication is not just in what you say, but how you say it. Especially if you’re a decision maker, you have to believe in the decisions you make, and show that with your cadence.

Of course, your decisions won’t always be perfect. But if you don’t believe in them, how do you expect others to?

Channel emotion to improve

Mendoza is lauded, for not just his physical abilities but also his mental ones. But his ability to make quick and accurate decisions didn’t come by chance.

Two years ago, Mendoza recognized that he had a playing style similar to NFL quarterback Kirk Cousins’s. So, Mendoza decided to watch films of every single one of Cousins’s passes that season.

Every completion. Every incompletion. I can’t remember hearing about a quarterback who’s done this before.

“It was in my free time, and I love watching NFL ball,” Mendoza said. “Those experiences have helped me a lot, especially to get adjusted to the college games, and to see how quarterbacks process the defense.”

Takeaway: If you want to become great at what you do, channel that love and desire into work—and learn from the experts.

That goes for anything: your professional life and personal life. When you study the best, identify their (and your) strengths and how you can leverage them, along with the weaknesses and how you can improve on them.

If you’re looking to improve your emotional intelligence, take a lesson from the NFL’s newest number one pick: Balance humility, modesty, and confidence. Focus not just on what you say, but also how you say it. Channel your emotions into analysis and hard work.

If you do, you’ll make better decisions—and you’ll be making emotions work for you, instead of against you.

www.inc.com

1. MAGS Right On Previous High

StockCharts

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2. Global Semiconductor Billing Projected to Hit $1T

Global semis billings. “The [Semiconductor Industry Association] projects that the industry is on track to exceed $1 trillion in billings for the first time in 2026.”

Sean Ryan – FactSet

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3. Semiconductor Monthly Flows

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4. INTC vs. Semiconductor ETF SMH Before Last Nights Earnings …2026 INTC +81% vs. SMH +33%

YCharts

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5. Intel Just Breaking Above 1999 Internet Bubble Highs

Google Finance

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6. Software Stocks All Trading Together …80% Correlation…One Bad News=All Bad News

Sherwood Media, LLC

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7. Total Electricity Generation

Semafor

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8. Foreign Private Capital More in Treasuries than Central Banks…Sell America Total BS

Apollo

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9. San Fran Rail System Crime Drops 41% and Workers Spent 1000 Less Hours Cleaning Up After Reducing Fair Jumping

The Daily Dirtnap

Found at Jared Dillian Newsletter

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10. Percentage of Americans Working After 65 29%

1. U.S./Iran Permanent Peace Deal Odds-Polymarket.

Polymarket

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2. Tech P/E Ratio Drawdown.

The gap between tech’s price and forward PE drawdown is the widest its been in nearly 20 years of data.

This one shocked me.

Below you’re looking at the 52-week drawdown in the S&P 500 technology sector price (dark blue line) vs the 52-week drawdown in the forward PE (light blue line).

Chart Kid Matt

The lines typically move together. Makes sense, right? But look at the recent divergence.

The tech sector is currently in a 2% drawdown from 52-week highs, but the multiple is off a whopping 28%.

See the 26% spread in the bottom pane? That’s the largest spread I can find going back to 2007.

The only way tech is nearing an all time high with the forward multiple in a 28% drawdown is because the forward earnings are ripping higher.

That feels healthy to me.

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3. AI Companies Weight in S&P 45%

AI vs. SPX. “The weight of AI companies in S&P 500 is close to 45%”.

Daily Chartbook

@connorjbates_

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4. S&P 500 Historical Returns After a 10-Day Surge of 10%-Lance Roberts Real Investment Advice.

Advisor Perspectives

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5. Polymarket launches trading of heavily leveraged ‘perps’ contracts-CNBC

CNBC

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6. 5-Year Chart S&P +81% vs. Weed ETF (MJ) -87%

YCharts

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7. GLP-1 Survey-NY Times.

New York Times

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8. The Largest Armies in World.

Visual Capitalist

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9. Greenland Largest Island in World.

Google

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10. 20 Warren Buffett Lessons.

BearBull Traders

1. Don’t Fear New Stock Market Highs

Ryan Detrick

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2. U.S. Large Cap Stocks Dominate Inflows

Liz Ann Sonders

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3. 600m Barrels of Lost Oil

The Kobeissi Letter

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4. Crypto Assets See Inflows

Crypto asset flows. “Digital asset investment products saw US$1.4bn of inflows, the third consecutive positive week and the strongest since January … Total AuM reached US$155bn, with flows representing 0.91% of AuM, the highest weekly intensity YTD.”

James Butterfill – CoinShares

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5. Apple Gained $3.66 Trillion in Market Cap Under Cook

Bloomberg

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6. Increase in Private Security for Execs-Ed Elson

Prof G Media

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7. More Private Security in U.S. than Police

Perplexity

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8. Growth in Net Worth 2020s

A Wealth of Common Sense

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9. These Are The US Cities Where No One Can Afford A Large Home

by Tyler Durden An April 2026 housing report by Highland Cabinetry highlights a growing affordability crisis across major American cities, revealing that the true cost of housing goes beyond total price and is better understood through the lens of cost per square foot. By analyzing home prices, rental costs, and average property sizes across 40 large cities, the study shows where Americans are paying the most for the least amount of living space. This approach offers a clearer picture of value, emphasizing how much space residents actually receive for their money rather than just the overall cost of buying or renting a home.

ZeroHedge

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10. In 1 Sentence, a Retired Electrician Just Explained How to Motivate Anyone (Even Yourself)

Forget purpose. This is more important.

EXPERT OPINION BY MINDA ZETLIN, AUTHOR OF ‘CAREER SELF-CARE: FIND YOUR HAPPINESS, SUCCESS, AND FULFILLMENT AT WORK’ @MINDAZETLIN

What’s the best way to keep your team feeling motivated, even when times are tough? And how do you keep yourself motivated when everything feels like a slog? I just read a piece that lays out the perfect answer to this question. Its author is Tommy Baker, a retired electrician from South Boston.

Experts often say that the secret to motivation is purpose. They say we all need to know that what we do is contributing to some greater good. That’s always seemed problematic to me, though. Let’s say you work for a fast fashion company doing analysis on sales trends. I suppose you could try to believe that you spend your days crunching the numbers so your company’s sales team can sell more products and that will help more people look a little more stylish, thus making the world a bit better but … that seems like stretch. And indeed, many companies do twist themselves into knots to find reasons why what they do supposedly makes the world better. (This was beautifully lampooned in the series Silicon Valley.)

It’s not about purpose

Forget purpose, Baker argues in his piece. When he retired a couple of years ago, the change hit him hard, he said. At first he thought the problem was a lack of purpose, but it wasn’t. It was a lack of people who needed him. When people need an electrician, they usually need one really badly. When Baker stopped doing that work, people stopped asking for his help, and it was a disconcerting change. “It’s the silence that gets you,” he writes. “The phone that doesn’t ring. The empty calendar. The feeling that nobody needs what you’ve got anymore.”

Eventually, he figured out that he, and his retired friends, really needed to be needed. So he began volunteering, teaching household repairs to young people who were eager to learn them. That turned things around. “Here’s what I’ve learned,” he writes. “You don’t need a massive audience. You don’t need to matter to everyone. You just need to matter to someone.”

Featured Video

Vibe-Coding for Beginners in Five Easy Steps

That last sentence says it all, and not just for retired people. It applies to you and me and everyone who works in your company, or any company. If you want to demotivate someone quickly, make them feel like their mistakes really don’t matter because no one is paying attention. If you want to motivate someone quickly, make them feel like the whole place would tumble down without them. Ask for their help. Tell them you depend on them. It may go against the grain to say that. You may fear they’ll respond by asking for a raise, and they might. But there’s no quicker way to build motivation and loyalty.

We all need to feel needed

Being needed trumps purpose every time. In fact, I think, at least some of the time, when we talk about purpose, that sense of being needed is really what we mean. We can see this clearly with someone who feels their purpose is to provide for their family. We can also see it in people whose job is to save lives, doctors or first responders, for example. But it’s true for all of us.

Whether we’re saving people trapped in a burning building, or preserving a species facing extinction, or even helping colleagues who need marketing data they can rely on, all of us need to feel needed. We want to know that, as Baker puts it, our work matters to someone, even if it doesn’t matter to everyone. For many entrepreneurs, the thought that their employees are depending on them for their livelihoods can be one of the most powerful motivators there is.

It will work on you, too

Next time you want to motivate an employee, or get someone on board for your project or idea, tell them how badly you need them. Next time you want to motivate yourself, focus on the employees and customers who need you. Then watch what happens. And see how much of a difference it can make.

There’s a growing audience of Inc.com readers who receive a daily text from me with a self-care or motivational micro-challenge or tip. Often, they text me back and we wind up in a conversation. (Want to know more? Here’s some information about the texts and a special invitation to a two-month free trial.) Many of my subscribers are entrepreneurs or business leaders. They know how important it is to motivate the people who work for them, and to stay motivated themselves. Feeling needed can be a powerful way to make that happen.

www.inc.com