2. One Stock that Held Its Post-Election Rally…Fannie Mae: +400% over 6 Months
StockCharts
3. Large Bitcoin Traders are Buying
Bitcoin whales. “The 30D position change for whales shows they’ve added +129K BTC since March 11 – with momentum picking up sharply over the past 2 days. That’s the largest accumulation rate since late August 2024, signaling growing confidence from large players.”
Glassnode via DailyChartBook
4. Put Software on Long List of Growth Sub-Sector Charts that Mirror below, pulled back to 2+ Year Trendline
StockCharts
5. Before Yesterday Mag 7 Big Bounce
It’s been a good couple of days for the Magnificent 7 stocks.
The Daily Shot
6. Interesting…Middle Class Shrink Due to More High Class Earners?
The Irrelevant Investor
7. GDP of Ukraine and Its Allies Vs. Russia
Professor Galloway
8. 700 Basketball Players Entered Transfer Portal Day 1…Private Lending Coming to College Sports
Via PitchBooK: Pitch Book Private credit lenders, usually known for financing loans to companies, may be recruited for a new role: funding athletic programs as the NCAA changes rules on compensating players.
Until now, US colleges have enjoyed an unusual advantage in their business models by not having to pay athletes.
That’s set to change. Final approval of a $2.8 billion antitrust lawsuit is imminent, paving the way for college athletics programs to share revenue with their players. The rule change could mean up to $20.5 million of direct payments to student-athletes per school, per year, starting in the 2025-2026 academic year.
Early in the quarter
College athletics programs have historically spent more than they have brought in. The new balance sheet line item on the sports programs’ balance sheets will dramatically increase capital needs that tuition increases and alumni donations can’t solve.
According to lenders, advisors, and law firms to whom LCD spoke, banks will not be able to meet the additional financing needs. What’s more, a dearth of sponsor-backed M&A and buyouts makes these opportunities more enticing for lenders with capital to put to work.
Several private credit providers told LCD they’ve already begun holding early conversations with universities and conferences about forming new lending relationships.
It’s likely that schools will need to demonstrate additional revenue streams to support any potential incoming capital infusions to offset normal operational deficits.
Randall Boe, senior counsel at Akin Gump and former commissioner of Arena Football League, says that private credit will prioritize transactions that fund projects and renovations that will generate new streams of revenue and help schools transition to the new business models necessitated by changes in the college sports landscape.
4. Another 25th Anniversary of Internet Bubble Chart: Up 15% in a Month then -50% from Highs
Bespoke
5. Investors Remain Concerned About Inflation
The Irrelevant Investor
6. Buffered ETFS
Bloomberg
Bloomberg
7. China and U.S. Buying 80% of Venezuelan Crude
Kpler
8. The U.S. has Run a Trade Deficit Every Year Since the 1970’s
Capital Group
9. Navy Next Big Ship Exceeds Budget by $1.3 Billion…10% Done After 2.5 Years
Navy Frigate USS Constellation Only 10 Percent Done after 2.5 Years.
Via 1945: Physical construction began on the United States Navy USS Constellation in the middle of 2022. After over two and a half years, the ship is only 10 percent complete, according to a person familiar with the timeline.
At this pace, including the two years of design development before the building began, the ship will only be complete after nine years.
This span is twice the number of years that it would take an Italian shipyard to build the naval vessel.
The US Navy and the ship’s designers based the design of the Constellation on Italy’s Fincantieri.
The Constellation is the first of what is supposed to be a line of 20 ships.
However, even though it is being built to the original Italian design specifications, the Constellation is now projected to exceed the budgeted initial cost estimate of $1.3 billion.
Constellation was expected to be ready for commissioning in 2026. The Navy set a short timeframe for the ship’s launch because it chose a proven design, which was supposed to accelerate the production cycle.
Construction of the Constellation has presented production cycle headaches due to an extended construction time of twice the expected time to complete the Constellation, cost overruns of nearly 50 percent, problems with rising steel costs, and numerous other factors.
10. Global Developments: Military spending is beginning to rise after a prolonged period of decline
QQQ vs. KWEB. Chinese Tech stocks (using $KWEB as our proxy) recently beat the Nasdaq 100 by 2 standard deviations over the prior year. When $QQQ has been this oversold in the past, it went on to outperform by strong-double digits and with a 100% win rate over the next year.
DataTrek
2. Small Cap Russell 2000 50-Day Thru 200day to Downside…History Not Bearish?
MarketWatch
3. Micro-Cap Stocks Never Made It Back to 2024 Highs
StockCharts
4. Retail Investors Buying TSLA Stock the Entire Way Down…$8B Over 13 Sessions
JPMorgan analyst Emma Wu told clients that the current level of retail enthusiasm for Tesla is unlike anything seen in the last ten years. This surge in retail buying comes as the stock remains halved from its December high of around $479. Weighing on shares are concerns over a potential slowdown in electric vehicle deliveries during the first quarter, along with mounting backlash from radical leftist nonprofits seeking to destroy the company and investors.
The global equity derivatives strategist told clients that retail net buying flows into Tesla topped $8 billion over the last 13 consecutive sessions through Thursday. This was the longest buying streaks for Tesla via JPM data dating back to 2015.
ZeroHedge
5. SMH Semiconductor ETF Back to Jan 2024 Levels
StockCharts
6. Crypto/Options Trader HOOD -45% Correction Top to Bottom
StockCharts
7. Inflation Still Dominating Voters’ Mindset….”Global Trade” Dead Last in List of Issues
People care about prices. They don’t care about global trade.
Bloomberg
8. Dividend Stocks Outperforming 2025—See Big Gap Underperformance Post Covid vs. Historical
Bespoke
9. Reminder: U.S. Household Balance Sheets are in Excellent Shape
The Irrelevant Investor
10. How to Turn Regret Into Purpose
From Psychology Today: A life lesson from the dying: Regret can be a powerful teacher.
KEY POINTS
You don’t find purpose—you build it using regrets as anchors for growth and meaning.
Inaction regrets are missed opportunities; take steps now to prevent future regret.
Action regrets can’t be undone, but they can be transformed into purpose through learning and service.
Reflect on your regrets today to create a life you won’t look back on with sorrow.
If you feel lost when it comes to purpose, you’re not alone. Many of us spend years searching for that one big thing that will make our lives feel meaningful.
But here’s the truth: You don’t find your purpose—you build it. Purpose isn’t a lightning bolt of revelation; it’s a structure we create, brick by brick, using the anchors, inklings, and beckonings that light us up.
As a hospice doctor, I sit with people at the end of their lives, and I’ve learned an important lesson from them: Regret is a powerful teacher. The saddest thing about regret for the dying is that, by the time they acknowledge it, they no longer have the agency, energy, or time to turn those regrets into something meaningful.
But you and I? We still do.
The Two Types of Regret
Understanding regret is the first step in using it as a tool for purpose. As Daniel Pink explores in his work on regret, there are two primary types: inaction regrets (things we never did) and action regrets (things we did but wish we hadn’t).
Inaction Regrets: The Things We Never Did
Inaction regrets are often the easier ones to spot. They are the untraveled roads, the missed opportunities, the dreams left unexplored. And I am a perfect example of this.
Ten years ago, I carried a deep regret: I had never traditionally published a book. Writing had always been a passion, but I never felt like I had the time, courage, or energy to pursue it seriously. Working with dying patients, I often asked myself: If I were in their shoes, what would I regret never doing?
For me, the answer was clear—I would regret never becoming a published author. This realization turned my inaction regret into a purpose anchor. Instead of just feeling bad about it, I used that regret as motivation to take action. I got an agent, wrote a manuscript, and eventually published my book. That’s the power of recognizing inaction regret: it can become the foundation upon which we build a meaningful life.
Action Regrets: The Things We Did but Wish We Hadn’t
Action regrets are more complicated because they involve mistakes we’ve made. They are the choices we look back on with sorrow, embarasment or guilt. Unlike inaction regrets, they can’t be undone.
I once took care of a patient who, as a young woman, had been texting while driving and caused a car accident that severely injured another person. The guilt stayed with her for the rest of her life, an ever-present burden. She deeply regretted that one decision, and no matter how much she wished she could, she could never undo it.
So how do we turn action regrets into purpose?
For her, the answer was education. She couldn’t erase the past, but she could prevent others from making the same mistake. She became a national speaker on the dangers of texting and driving, using her own painful experience to teach and protect others. In doing so, she transformed her action regret into a purpose anchor.
Turning Regret into Purpose
Both types of regret—inaction and action—have the potential to serve as powerful guides. They show us what matters, what we wish we had done differently, and where we can create meaning moving forward.
So, what about you? Ask yourself:
What are the things you regret not doing?
What are the actions you regret taking?
How can you build a life of purpose around those regrets?
If you regret not traveling, can you start prioritizing experiences over possessions? If you regret not expressing love to someone, can you start showing up more fully in your relationships? If you regret hurting someone, can you work toward making amends or helping others in a similar situation?
These reflections aren’t meant to fill you with guilt. They are meant to empower you. Unlike my hospice patients, you still have time. You can make different choices, shift your priorities, and turn regret into action.
What Will You Regret on Your Deathbed?
One day, you will be at the end of your life. When that time comes, will you look back with a sense of fulfillment, knowing you used your regrets as fuel for a meaningful life? Or will you be haunted by all the things you never did, never said, and never became?
The good news is that you still have a choice. Regret doesn’t have to be an anchor that weighs you down—it can be the foundation upon which you build a life of deep purpose.
So, what will you do today to ensure that, when your time comes, regret isn’t the final chapter of your story?
1. History of Down -10%+ Years…You Need Something Bad to Happen
Ryan Detrick
2. Mag 7 2025 are All in the Red
Nasdaq Dorsey Wright
3. Since First Rate Cut Mag 7 is Still Outperforming -But Gap is Closing Fast
Liz Ann Sonders
4. QQQ Pulled Back to Blue: 2+ Year Trend Line
StockCharts
5. Russell 2000 Small Cap Also Pulled Back to Big Trend Line…200 Week Moving Average
StockCharts
6. Emerging Markets and China Have Low Gold Reserves vs. Developed
Spencer Hakimian
7. The City of L.A. is Facing a $1B Deficit
Bloomberg
8. The NVDA Rubin Chip
Chartr via Sherwood
9. BYD Chinese EV Car Company Building a 50 Square Mile Factory
Via The Sun: STAGGERING drone footage shows the scale of the vast Chinese electric vehicle mega factory that is being built.
The sprawling BYD factory in Zhengzhou, in China’s Henan province, is set to be bigger than a major US city and has its own football ground.
New China-built electric vehicles of the company BYD, are seen parked in the port of Zeebrugge
Aerial footage of the factory and the land it is expanding onto shows masses of sleek production buildings, high rise blocks, a football pitch and tennis courts all separated by roads.
As the drone continues to cover the site, it shows the vast expanse where work is beginning on building new parts of the facility, as well as what looks like a small village where workers live.
At the back of that settlement is more land earmarked for construction work.
The site is set to dwarf rival Tesla’s Gigafactory in Nevada that covers 4.5 square miles.
When completed, the factory, which is being built in eight phases, is set to cover 32,000 acres or 50 square miles.
For comparison, San Francisco in California is 46.9 square miles.
Phases five to eight are now underway, majorly expanding the current factory.
According to reports, BYD as a whole has over 900,000 employees and will add over 200,000 more in the next three months.
10. Waves and Tides
From Seth Godin’s Blog: It’s easy to be distracted by the wave that’s crashing on the shore.
On the other hand, the tide is inexorable. It’s the long-term trend, the one that is quietly happening, over time.
Sometimes, a big wave comes along and we lose our focus. It’s urgent.
But expecting and working with the tide pays off. Waves burn out.
1. Huge Drop In U.S. Stock Allocation…Contra Indicator
Macro Charts
2. We are Above Bearish Sentiment Indicators from 2009. Does It Fell Like 2009?
Bespoke Investment Group
3. Past “Policy Uncertainty” Has Been Buy Signal for Stocks
Bull & Baird
4. Gold and Uncertainty
Abnormal Returns
5. Silver +14% Year to Date…$48.70 was 25-Year High 2011
StockCharts
6. Rolling 2- month Performance International vs. U.S. was Biggest Since 2008
Charlie Bilello
7. Airline Subsector vs. S&P 2025
Cresset Capital
8. Most New APPS Bomb
In the increasingly competitive battle for space on our precious home screens, most apps never even come close to getting enough subscribers to cover their costs.
According to the 2025 State Of Subscription Apps report from RevenueCat, published last week, just a handful of apps now dominate a huge share of users’ screen time. According to the research, the top 5% of newly launched apps make over 400x more in their first two years (~$8,888) than the bottom 25% (~$19).
The report also outlined that only 19% of new apps across all categories generated $1,000 in monthly recurring revenue within two years of launch, implying that 81% failed to hit that threshold. After this, the drop-off is steep, with a large portion of apps failing to meet each consecutive monetary milestone. At the upper end, only 5% of all new apps reached $10,000 in revenue.
Chartr via Sherwood
9. Retirement Fears
Food for Thought: Top retirement fears among US workers:
Daily Shot Brief
10. Improve Your Strategic Thinking
I’ve seen too many leaders get stuck in day-to-day operations and lose sight of the larger picture.
Via Inc: When scaling my company, I learned that strategy wasn’t about having a brilliant idea but about making intelligent, well-informed decisions over time. As an Inc. 500 CEO and now as a strategic coach, I’ve seen too many leaders get stuck in day-to-day operations and lose sight of the larger picture.
The ability to think strategically and make strong decisions separates successful companies from those that stagnate. The good news? Strategic thinking is a skill that can be developed. Here’s how.
1. Zoom out before you zoom in
Many leaders dive into execution without considering the bigger picture. Before making key decisions, assess the industry trends, customer demands, and competitive shifts. A great way to do this is by using frameworks like SWOT analysis (Strengths, Weaknesses, Opportunities, Threats). But don’t stop there—combine multiple frameworks to get a fuller picture.
Consider using Porter’s Five Forces to analyze competitive dynamics or the PESTLE framework to evaluate external factors. I’ve found that leaders who regularly step back to assess the landscape make better choices and avoid costly missteps. One CEO I coached saved millions by spotting an emerging technology trend during a quarterly strategy review that would have made their planned expansion ob
2. Ask better questions
Strong strategic thinking starts with asking the right questions. Instead of rushing to solutions, challenge assumptions. Ask, “What are we assuming?” or “What would have to be true for this to work?” The best leaders encourage debate and seek out different perspectives. Create a culture where team members feel safe challenging ideas, regardless of hierarchy.
The most valuable insights often come from front-line employees who interact with customers daily. Consider implementing regular strategy meetings where team members from different departments share perspectives and challenge conventional wisdom. Questioning the status quo opens the door to new opportunities and avoids blind spots.
3. Embrace second-order thinking
Short-term wins can create long-term setbacks. Second-order thinking—asking, “And then what?”—helps leaders anticipate future consequences. Cutting costs by reducing staff might improve short-term margins but could lower team morale and productivity later. I’ve seen companies lose key talent and market share because they failed to consider the ripple effects of their decisions.
Create decision trees to map out potential consequences and scenarios. Consider the immediate impact and how competitors, customers, and employees might react. Before making decisions, think through their long-term implications and whether they align with your bigger goals.
4. Make time for deep work
Strategic thinking requires focus, but most leaders’ calendars are packed with meetings and urgent tasks. If you don’t carve out time for deep thinking, you’ll always be reacting instead of planning. Block out a few hours each week for strategic reflection.
The best CEOs I work with treat this time as non-negotiable. They create “think weeks” like Bill Gates or monthly strategy days to disconnect from daily operations. Use this time to read industry reports, analyze competitive moves, and envision different futures for your business. Consider keeping a strategic journal to track your thoughts and patterns over time. Unplug, analyze trends, and think long-term.
5. Test, learn, and adapt
No strategy is perfect from the start. The best leaders continuously test their ideas, gather feedback, and adjust. Instead of committing all your resources upfront, run small experiments. Try a limited product launch, test a new sales approach, or pilot a new process. Set clear success metrics and timelines for these experiments.
One technology company I advised saved substantial resources by testing their new feature with a small user group first, allowing them to identify and fix critical issues before a full launch. Create feedback loops that bring in customer insights, market data, and team input. Learning from real-world data allows you to refine your strategy and stay adaptable.
The best leaders aren’t just problem-solvers; they’re opportunity-finders. They understand that strategic thinking is a muscle that needs regular exercise. Adopting these habits and creating structures supporting strategic reflection will strengthen your decision-making capabilities and build a more resilient organization.
Remember, strategy isn’t a one-time exercise—it’s an ongoing process of observation, analysis, and adaptation.
