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Written by Teresa Lo, a market veteran who survived every crash since 1987.About →
A rare three-way meeting of the US, Chinese and Russian leaders could take place on the fringes of the summit, Trump told reporters on Sunday.
The chipmaker’s leadership crisis reached the market and Washington on Monday, a day after Jensen Huang admitted a relationship with an alleged Chinese operative.
Beijing rolled over several trade-truce measures for two months as Washington pressed it to buy more US farm goods and keep rare earths flowing.
The president downplayed a return to conflict before meeting the Iran war mediator, while Rubio saw no breakthrough and the UAE warned of prolonged uncertainty.
The first direct US, Russian and Ukrainian negotiations in nine months open on Tuesday, with European officials seeking a say over Russia’s security demands.
Newly released figures detail a three-day summer intervention, but the yen remains weak near 158 per dollar.
The president suggested a legal pathway for some immigrants days after promoting Stephen Miller, the architect of the crackdown, to chief of staff.
Klaas Knot and Pablo Hernández de Cos are the only two candidates for the European Central Bank presidency, and the EU aims to choose by December.
Lenders that rushed to finance the data center buildout are now trying to sell loans and shift risk, and some borrowers are pulling planned bond deals.
The deal for the No. 2 photoresist maker is valued at between $8.5 billion and $12 billion, depending on the account.
The AI market rout is lowering the price of the largest private AI developers, and Anthropic’s valuation is also under review before its planned listing.
The bank’s equity strategists see the S&P 500 nearing their 7,100 to 7,300 downside target and keep an 8,000 year-end goal.
1,704 items read
Every Saturday the free newsletter scores eleven popular lazy portfolios, Three-Fund, Coffeehouse, All Seasons and the rest, and works out how much of each should sit in cash. When a portfolio’s volatility rises past 10%, part of it moves to cash.
The reading
Seven of the eleven lazy portfolios held cash: from 1% to 13%.
As of November 6, 2026, they range from 7.6% to 11.6% volatility. Raise cash once volatility exceeds 10%, up to 50%.
Get it free, every Saturday.
Cash is king during downturns. Knowing when to raise cash reduced the typical portfolio’s worst drawdown by 31 percent.
Portfolio
Worst drawdown since 2005
Drawdown %
some cash · all in
Volatility
now
Cash
now
Armstrong Ideal Index
IVV 7 · IUSV 9 · MSML 6 · ISCV 9 · IXUS 31 · USRT 8 · ISTB 30
−27.9 · −44.1
10.4%
4%
Swensen
ITOT 30 · IDEV 15 · IEMG 10 · USRT 15 · GOVT 15 · TIP 15
−26.0 · −42.6
10.9%
8%
Burns Margarita
ITOT 34 · IXUS 33 · TIP 33
−28.9 · −42.0
11.3%
12%
Larimore Three-Fund
ITOT 34 · IXUS 33 · AGG 33
−27.8 · −40.5
11.6%
13%
Schultheis Coffeehouse
Six stock funds, 10 each · AGG 40
−24.4 · −38.2
9.3%
None
Ferri Core Four
ITOT 30 · IXUS 24 · AGG 40 · USRT 6
−25.3 · −36.7
10.1%
1%
Bernstein Coward’s
Eight stock funds, 60 in all · ISTB 40
−23.0 · −36.4
9.1%
None
Ferri Two-Fund
VT 60 · AGG 40
−25.1 · −35.9
10.4%
4%
Ferri Three-Fund
ITOT 40 · IXUS 20 · AGG 40
−25.0 · −35.5
10.5%
5%
Robbins/Dalio All Seasons
ITOT 30 · TLT 40 · IEF 15 · GLD 7.5 · BCI 7.5
−21.1 · −24.3
7.6%
None
Browne Permanent
ITOT · GLD · SHY · TLT, 25 each
−18.6 · −19.0
9.4%
None
Since September 8, 2005 (Robbins/Dalio All Seasons since August 4, 2006). MSML is the iShares MSCI USA Small-Cap ETF, renamed from ISCB on October 5, 2026 (SEC filing). Volatility is the size of a portfolio’s ups and downs, measured over a year. When a portfolio’s volatility rises past 10%, part of it moves to cash to a maximum of 50%. Full details in every issue of AiM Weekly. General information, not investment advice.
In 2018 I concluded that the bond bull market, which began in 1981, was ending, and not for the usual reasons.
By Thursday, March 5, 2009, the S&P 500 had already fallen 56% from its 2007 peak.
