Sell in May and Go Away? Maybe Not

Published on May 1, 2026

The sharp rebound from the March lows has pushed most major equity indexes back to record highs. This upside momentum has been fueled in part by signs of de-escalation with Iran and growing expectations that the Strait of Hormuz could reopen soon.

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Jamie Dimon Is Competing With Everyone. He’s Not Alone

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When Jamie Dimon turned to competitive threats in his shareholder letter this year, the chief executive officer of JPMorgan Chase & Co. did something unusual: He named some. Citadel Securities LLC and Revolut Ltd. were two of the firms Dimon picked out.

An OpenAI Bubble Is Not an AI Bubble

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The OpenAI bubble was inflated thanks to the company’s first-mover advantage from the almost accidental success of ChatGPT. That launch, OpenAI’s first huge viral moment, made it the fastest-growing consumer tech product in history — 100 million users within two months. Extraordinary sums of venture capital followed, and the company is now worth $852 billion. Quickly placed on its shoulders was th