Hedge Fund FOGO Is Obliterating the FOMO Trade

Published on November 9, 2026

In a recent letter to investors, Paul Singer’s Elliott Investment Management predicted a substantial bear market ahead. There might be an abrupt change from fear of missing out, or FOMO, to fear of getting obliterated, or FOGO, the $80 billion manager wrote.

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As U.S. Stocks Flatten, Commodities Take the Lead in 2026

November 9, 2026
What will protect portfolios when U.S. stocks tank, especially when inflation is also a concern? I think real assets like commodities and real estate (especially farmland) will hold up, as will Treasury Inflation-Protected Securities (TIPS).

Credit Spreads: Calm at the Top, Concern at the Bottom

November 9, 2026
In this article, I explain what credit spreads are and why they matter to stock investors. I also examine what they are signaling today by reviewing key spreads across the credit curve, historical percentiles, and relative value metrics.