2023 in Review
Game On?
Consumer Spending Still Strong
No Landing
Farewell to Munger
Challenging and Fluid
De Facto Recession
Softening Trends
Softened Conditions
Consumer Activity has Slowed Down
Back to Our Targets
Storm Clouds Still There
Strong and Vibrant
Fairly Close
Inflation Still Sticky
The End of the Worst of It
It's Nvidia's World
Mission Not Accomplished
Fears Subside
Past the Peak
The Taylor Swift Boost
Ticking Up
No Recession?
Q2 23 Earnings Season Begins
Healing Capital Markets
No Alarm Bells
The Transcript Q1 2023 Letter
The Year After Next
A View From Asia
Keeping at it
Non-Recession Recession
Far Stronger
Unacceptably Slow
Softening
Cautious Outlook
Low Inflation, High Inflation
Hot or Cold?
Pause?
Slow Deterioration Continues
Weak Trends
TakeAways from Bank Earnings Q1 23
Gradual Deterioration
The Q1 23 Earnings Season Begins!
Calmer Now
Take a Deep Breath
Reviewing Q4 22
The Transcript Q4 2022 Letter
Distress in Financial Markets
Too Soon to Tell
A Banking Crisis
Fire and Ice
What A Fall!
Run on the Bank
AI Hype is Real
Waiting for More Data
Get an Umbrella
Pesky Inflation
Consumer Still Partying
Feelin’ Fine
Let’s Dance
No Longer Hypergrowth
Disinflation Begins
Sticky Services Inflation
Resilient Resilience
The Decade of AI
A Mild Recession?
Big Banks Start Reporting
Let The Q4 Earnings Season Begin!
Has Anything Changed?
New Year, Same Story
