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2025 AI Outlook: Investing in AI’s Present and Future

Charts for Days

My pal JC Parets came by to talk about his favorite charts in the markets right now. the US dollar potentially breaking its uptrend, the concurrent move you should expect from the 10-year Treasury if that happens, gold and silver outperforming everything, the Chinese stock market beating the S&P 500 over the last year (it’s true, look it up) and some short ideas in the pharma space.

You can listen to the whole thing below on either Apple or Spotify:

Prior to taping the show, JC got a cold call from a broker in the city trying to pitch him on MicroStrategy “rallying 300%” before year-end. We f***ed with him a little bit but then I was like “Dude, stop” and we hung up the call. JC and I met in the cold-calling brokerage pits of yore 20 years ago. He was a business school student coming out of Fairfield University and I was running the broker trainee program at the firm I was with. I hired him five seconds into meeting him.

This was one of the best calls I’ve ever made on a person - JC has gone on to build and sell multiple research businesses on Wall Street and is now the most well-known technician of his generation. We both left the brokerage business fifteen years ago. Fielding a brokerage cold call together in 2025 really brought things full circle for me yesterday.

Here we are back in the day with Phil Pearlman and Brian Shannon. This has to be 2010 or 2011, I think. I probably have older photos but I would have to take the disposable camera to CVS to get the film developed 🙂 

Anyway, if technical analysis is your thing and you want to learn more about what JC does, check out getthecharts.com for more.

Naples in February

Michael Batnick, Kris Venne and I are coming down to the west coast of Florida in late February to meet with clients and take some initial meetings with prospective clients. We’ll be there with some of our top Certified Financial Planners. We’re posting up in Naples for two days and the calendar is filling out now. If you want to come by to talk to us about your financial plan and portfolio, this is your opportunity. We want to meet you!

Send an email to [email protected] and use the subject line NAPLES. We’ll see you soon.

Elsewhere…

Don’t miss my colleague Nick Maggiulli’s piece taking on every argument against passive investing.

Ben just updated his asset class quilt and sector quilt with the year-end data from 2024. I always find this to be a helpful way to begin each year. If you’re searching this for signal to try and predict what might happen next, you won’t find it. Which is precisely the point.

from:

from:

Read both of his pieces and you’ll truly understand the need to remain diversified and to fight the recency bias with all of your might.

Future Proof Citywide Beachwalk Map Revealed

Future Proof Citywide will be held from March 16th-19th in Miami and it’s shaping up to be a groundbreaking experience for the wealth and asset management industries.

As you can see above, we’re going to be directly on the beach from 10th Street to 15th Street with multiple stages for content and a massive Breakthru meeting pavilion so everyone maximizes their opportunities to meet people. Across Ocean Drive, we’ll be staging pop-up events and exclusive gatherings at the Villa aka the Versace Mansion as well as the Betsey Hotel. The days will be filled with networking and education, the evenings filled with food and drink, music and bonding. It’s going to incredible.

We’ll be hosting thousands of professionals from all over the country for three days of learning and leveling up. If you work in wealth, I hope you’re registered and have your hotel nailed down.

That’s it from me today. Talk soon! - Josh