Here is a fun fact that is going to mess with your head. About 80% of people, all over the world, from America to Japan, naturally turn left when they walk. Not in a car, just on their own two feet. Righty or lefty, does not matter. Given the choice, four out of five of us just go left, and we never even notice we are doing it. I heard this on a podcast while I was walking up and down my driveway, and you guys know me, I had to test it. Sure enough, I caught myself turning left every single time. So I tried to force a right turn, and it felt wrong. It felt blasphemous. Not even just wrong, okay, it felt blasphemous. Then I ran it on the eleven people I am staying with. Every single one of them turned left. Every one. Not one person

No charts today, my friends. I took a real day this week, the kind where the phone goes in the bag and stays there, and I want to share a little of it with you before the long weekend. We had lunch under the olive trees. Actual olive trees, the gnarled old ones, with the light coming through the leaves. And then the food came out, and honey, I have to confess something. They brought a caramelized onion pizza covered in anchovies, and I am not an anchovy person. Or I was not an anchovy person. Because I ate the whole thing and now here I am, a changed woman. After that we trekked up to Saint-Paul-de-Vence, which, in my humble opinion, is one of the most beautiful medieval towns on the planet. Stone streets that have been there for centuries, the whole village sitting up on a hill looking

The market does not care about your reasons. Today was the new Fed chair's first big day, Kevin Warsh behind the podium, rates left right where they were. And the second he opened his mouth, my inbox filled up with people telling me exactly why the market was about to fall apart. Credit. Inflation. AI overspending. The bond market. Everybody had a reason. So let me riddle you this, my friends. Why today? Every one of those reasons was already true yesterday. They were true last week. None of it is new. So if you want to tell me the market is selling off today because of credit, you had better be able to tell me why it did not sell off on all the days that exact same problem was sitting right there in plain sight. I have been doing this long enough to know the answer. And once