Dave Collum

Here it is, after several near-death experiences and attempted auto-excerebrations, my 2025 Year in Review...

peakprosperity.com/dave-collums-2…

Social Awareness Poll: All things considered (no waffling), would you rather live in 1926 with a $50,000 salary or in 2026 with a $50,000 salary. The results of such a poll are said to be remarkably consistent.

I can't imagine why Hollywood will exist in its current form given the realism of AI generated movies. I watched a movie the other night that appeared to be AI generated. Of course, they are soul-free but so is everything else.

Social Awareness Poll: If you reject historical valuation metrics for the S&P and accept the currently high valuation valuations as the new normal (sustainable) how do you project prospective returns relative to historical results?

From 1981 to the present—45 years of trough-to-peak gains—the valuations of the S&P expanded 7x and the M2 money supply expanded 14x. Now tell me about where those gains really came from and how will they do when we go peak-to-trough, which we will do given that expensive markets always become cheap again even if I am long dead. Boomers were gonna boom and booms are gonna bust.