The countdown is in effect right now for the roughly 170 million users of video sharing app TikTok in the U.S. In a couple of days, the controversial app may stop functioning in the U.S. – and rival social media companies could catch a windfall.

When nearly everyone in the financial markets expects something to happen, usually something else happens. This creates opportunities for the few people who dare to use contrarian strategies during times of consensus.

Let me be crystal clear: I am not calling a top in the stock market. I am, however, calling an end to the easy, massive returns that passive index fund investors enjoyed in 2023 and 2024.

Cryptocurrency enthusiasts got pretty much everything they wanted in 2024. They got a crypto-friendly President-elect and Bitcoin at $100,000 (more or less). They also have new ways to participate in the cryptocurrency market – but more choices isn’t necessarily the same thing as better choices.

When markets rotate, sometimes they can over-rotate to extreme levels. It’s off-putting for rational investors, but this is when great opportunities arrive at your doorstep.

In finance, dissenters are often derided or ignored, and will only be vindicated after the fact. Such may be the case with a lone strategist who’s bucking the bullish trend and bracing for a rough ride in 2025.

Just a few days ago, my dentist told me he was thinking about mortgaging his office to buy more Bitcoin. I was alarmed but not surprised, as FOMO (fear of missing out) hits the hardest when Bitcoin reaches new milestones like $100,000.

Eliminating wasteful government offices is always controversial, especially since some federal workers will have vested interests in keeping those offices intact. Soon, however, President Donald Trump and Tesla founder Elon Musk will team up to “drain the swamp” of unnecessary federal employees.

As Joe Biden’s chairman of the Securities and Exchange Commission (SEC), Gary Gensler did everything he could do to protect government money against threats like Bitcoin. In a couple of months, Gensler will be out of the picture, so who will protect the precious U.S. dollar?

Some folks say that the markets don’t lie, but there are times when it’s hard to overlook the dislocations in asset prices. For Greenlight Capital’s David Einhorn, the disconnect between prices and actual values is wide and only getting wider.

This is a textbook example of what happens when mandates go wrong. While President Trump will almost certainly push back against unnecessary regulations, California’s state government will likely continue to pursue burdensome and unfeasible policies.

The pundits are out in full force with poll data and theories galore. Yet, there’s no consensus on whether Donald Trump or Kamala Harris will be the next U.S. president. Still, even amid the uncertainty, there’s one thing that Americans can count on.

It was fun while it lasted, and I hope you profited from the massive, unprecedented rally in large-cap stocks. According to a Goldman Sachs strategist, the S&P 500 index will only return 3% per year to investors, on average, through the next decade.