Good Friday morning. Beginning on Monday we’ll start laying out our forecasts for the markets and economy for the new year. As a reminder, in last years forecasts we said our markets would have another banner year with gains of 25% (check; in both VRA Portfolio and broad market), that Bitcoin would top $100,000 (check), that Tesla would top $300 (check), that gold would top $2500 (check), that the Fed would cut rates 2-3 times (check) and that the US economy would not go into recession (check).

We had our misses as well but as forecasts go we feel pretty good about last years. I’ll also note that each of these 2024 forecasts were fairly deep contrarian calls.

Two years ago I began saying I was more bullish than at any point in my 39 year career (as spelled out in "The Big Bribe”). Not only is that still the case but with Trump 2.0 and the burgeoning “Innovation Revolution”….featuring tech capex of more than $2 trillion inside of the next 3 years…we’re as bullish today as when Tyl...