The blended net profit margin for the index is 13.1%, the highest since at least 2009
"The month with the most annual highs, and not by a small margin, is December"
"We are seeing emergent signs that AI is driving business formations"
"Retail investors continue to add into weakness, becoming the new price setters"
"SPX is more tightly correlated with $NVDA than it is with the 500 names that make up the index"
"Market-based inflation expectations falling like a rock"
"We think that compared with the bubbles of the past, AI looks closer to the benign unleveraged variety"
