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Written by Teresa Lo, a market veteran who survived every crash since 1987.About →
The AI lab told prospective investors its third-quarter revenue reached $16.8 billion and that it turned cash flow positive, on a day the broad US equity market fell on fears about the AI trade.
Official figures showed the UK economy expanded slightly in August when analysts had expected a small decline, and the IMF said Britain does not need to accelerate its deficit reduction.
Mary Daly and Michelle Bowman both said no rate rise was urgent, and the currency and bond markets priced the message rather than the inflation data.
The European Union and China struck a preliminary agreement to limit Chinese hybrid vehicle exports to Europe, a concession Beijing had long warned it would not make.
The ratings firm found that US private credit borrowers are using delayed interest payments and maturity extensions to avoid default, which flatters the sector’s reported default statistics.
Huang said his company does not need to step in, while the cost of insuring CoreWeave’s debt reached its highest level yet.
The International Monetary Fund urged China to deploy a larger fiscal stimulus and said the country’s property crisis has lingered for too long.
The group’s opening session puts legal liability at the centre of Washington’s approach to frontier AI, with a charter expected to follow.
September producer prices rose at their fastest monthly pace since March 2022 while retail sales expanded and weekly jobless claims stayed near their recent lows.
The Fed’s vice chair for supervision used the failure review to argue for prioritising what matters most, and criticised global standard setters.
American negotiators proposed releasing some immobilised Russian sovereign assets into a vehicle controlled by Washington, and European delegates rejected it.
The export credit agency’s chairman and the energy secretary visited the Nebraska critical minerals project together.
Cleveland Fed president Beth Hammack and other officials have questioned the chairman’s drive to reduce the Federal Reserve’s communication, days before he speaks at the IMF meetings with inflation running hot.
A United Nations agency says the strait’s disruption is adding costs through the food supply chain, on top of Black Sea wheat problems.
Elon Musk said the decision to throttle Ukraine’s military satellite links came from Washington rather than SpaceX, and a Ukrainian official says the service has since been restored in full.
Direct lenders are taking in more money than ever even as the opportunities to deploy it narrow, and their own lenders are pulling back.
The agency sent civil investigative demands to both companies in a probe focused on possible consumer protection violations.
The bank is drawing up plans to move its headquarters out of Switzerland should lawmakers press ahead with tougher capital requirements under the country’s too-big-to-fail laws.
Senior banking executives told the BBC they expect to be on the menu this month, while the chancellor’s fiscal pledge lifted the FTSE 100.
The energy secretary said the administration is discussing easing sanctions on vessels carrying Russian oil to bring down record freight rates, days after a bipartisan group of senators objected to the diesel agreement.
Two companies that have fought for years over privacy and devices are co-operating to run a powerful open model on personal computers.
The forum could appoint the central bank president as early as November, which would mean an early departure from Frankfurt.
Money from the world’s largest stablecoin issuer flowed to a consulting firm in which a White House crypto adviser kept a stake while he worked on the stablecoin legislation that now governs it.
Deputy governor Sarah Breeden said the central bank is working with banks on deep cyber-recovery options as AI raises the threat.
4,132 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
All eleven lazy portfolios were fully invested.
As of October 12, 2026, they range from 6.5% to 8.8% volatility. Raise cash once volatility exceeds 10%.
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
7.6%
0%
Swensen
ITOT 30 · IDEV 15 · IEMG 10 · USRT 15 · GOVT 15 · TIP 15
−26.0 · −42.6
7.9%
0%
Burns Margarita
ITOT 34 · IXUS 33 · TIP 33
−28.9 · −42.0
8.4%
0%
Larimore Three-Fund
ITOT 34 · IXUS 33 · AGG 33
−27.8 · −40.5
8.8%
0%
Schultheis Coffeehouse
Six stock funds, 10 each · AGG 40
−24.4 · −38.2
6.9%
0%
Ferri Core Four
ITOT 30 · IXUS 24 · AGG 40 · USRT 6
−25.3 · −36.7
7.7%
0%
Bernstein Coward’s
Eight stock funds, 60 in all · ISTB 40
−23.0 · −36.4
6.5%
0%
Ferri Two-Fund
VT 60 · AGG 40
−25.1 · −35.9
7.9%
0%
Ferri Three-Fund
ITOT 40 · IXUS 20 · AGG 40
−25.0 · −35.5
7.9%
0%
Robbins/Dalio All Seasons
ITOT 30 · TLT 40 · IEF 15 · GLD 7.5 · BCI 7.5
−21.1 · −24.3
7.1%
0%
Browne Permanent
ITOT · GLD · SHY · TLT, 25 each
−18.6 · −19.0
8.7%
0%
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.
