Year End Letter: Top Gun Returns 38% in 2025
January 3, 2026 It takes a man a long time to learn all the lessons of all his mistakes – Jesse Livermore The test of a first rate intelligence is the ability to hold two opposing ideas in mind at…
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Commodity Stocks Will Rally If The Fed Stays In Line
It’s been an extremely volatile year for commodity stock bulls like myself. During the first quarter the stocks marched relentlessly higher along with inflation and commodity prices while the second quarter was the mirror image of the first as the…
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Further Reflections On Partridge
I can wait without having a twinge of impatience. I can see a setback without being shaken, knowing that it is only temporary. I have been short one hundred thousand shares and I have seen a big rally coming. I…
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A Secular Bull Market In Commodity Stocks
I want you to pay special attention to this blog because it can make you a lot of money. Here’s the thing: there was a secular bull market in technology stocks from 2009 through 2021 that investors made a lot…
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That 70s Show: Inflation Is Set To Roar
There is a very interesting dynamic playing out in the economy right now that is almost certain to result in significant inflation. That dynamic consists in the reality of inflation as described by corporate executives, some examples of which you can read above, combined with the Fed’s refusal to admit that it’s anything more than “transitory”.
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QE and the K-Shaped Recovery, Copper at 9 Year Highs, Interpreting Rising Interest Rates, WMT Earnings
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Week In Review, MJ: The Highs And The Lows, Josh Brown: “Valuation Is Junk Science”, Kiddie Technicians: Just The Beginning, Rising Commodity Prices, Rising Interest Rates, VIX Closes < 20
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Market Commentary, Pricing In Normalization in 2021, The Point of Maximum Optimism, ZM Earnings
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Is The Market Too Strong?, WMT & HD Earnings, Copper & Bitcoin
Note: A few months ago I started writing a daily morning market email for clients, friends and family. I recently decided to start making this email more broadly available. Email me at gfeirman@topgunfp.com if you’d like to be added to…
