Payne's Perspective: Here Comes Earnings & Warsh
7/13/2026
Not Flat-footed Interestingly, bear market crashes always catch retail investors off guard and wipe out everything, even stocks that have made monster gains.
Anti-Buffett Revolt It's been rough sledding for active fund managers – only 25% of them are beating the S&P 500 (SPX). It's been downhill since 2022, when this current leg of the secular rally began.
The problem, in my mind, is the paint-by-numbers approach, which includes focusing only on quality stocks. The problem is that quality has been crushed by momentum and other factors. Momentum (SPMO) stocks regained composure against quality.
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Charles Payne
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