Last night U.S. time (5 Dec 2025), S&P Dow Jones Indices announced that three more companies will be added at the upcoming December rebalance: CRH plc (CRH) Carvana (CVNA) Comfort Systems USA (FIX) These are announced to join the S&P 500, with corresponding deletions and mid-cap/small-cap moves, but their inclusion becomes effective later in December (typical rebalance effective date is around the week of 19–22 Dec).

We see a strong setup for a year-end rally driven by... - Fed & QT: The Fed is set to cut rates, and crucially, QT is ending (historically a bullish signal). - Economy: Underlying health is strong with pent-up demand in housing and manufacturing. - Visibility: The end of the government shutdown restores economic data visibility. - Positioning: Active managers are "offside" and likely to chase performance into year-end. - Technicals: Markets reached oversold levels in November (lowest RSI since April). - Seasonality: December historically finishes strong, especially after a pullback.

It's a pretty good deal. Premium is usually 68$ per month and with the deal the yearly is just 217$ per year. Huge discount. Go get it. I just got it.

Saw this today - quite funny but not for Michael B

CEO Jensen Huang set the tone: “There has been a lot of talk about an AI bubble. From our vantage point, we see something very different. As a reminder, NVIDIA is unlike any other accelerator. We excel at every phase of AI, from pre-training and post-training to inference. [...] The world is undergoing three massive platform shifts at once, the first time since the dawn of Moore’s Law.” Those three shifts matter: - ️ Accelerated computing replaces CPUs. - Generative AI reshapes hyperscale workloads. - Agentic and physical AI create entirely new categories.