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Surrounded by forest-covered mountains cloaked in mist, a patchwork quilt of green farmland and steel-blue waves breaking on mangrove-strewn mudflats, Lai Chi Wo does not look like it belongs in Hong Kong.

The remote 300-year-old village is one of the city’s oldest settlements — and one of its most biodiverse.

Its location is no accident: it draws on the traditional philosophies of the Hakka people, one of Hong Kong’s pre-colonial indigenous groups, who built the settlement.

“We maintain what is called a feng-shui forest, to preserve the village,” says Susan Wong. The 73-year-old grandmother is the village chief, and was born in Lai Chi Wo, when the town was home to around 1,000 residents. “From our ancestors to now, it has been passed down, not to let anyone cut down the trees. If you cut all the trees out, the mountain will become bare, and nothing can cover the village.”

Feng shui — which literally means “wind” and “water” — is a design philosophy about how homes, villages and cities should be arranged for good fortune.

In Lai Chi Wo, the position of the forest is intended to shelter the village from typhoons, prevent landslides, and manage extreme heat and cold.

However, in the 1960s, residents began to leave their ancestral home: Hong Kong was industrializing rapidly, and it was becoming hard to make a living from farming.

“We didn’t even have shoes or clothes to wear,” Wong recalls. Lai Chi Wo is so remote that, even today, it can only be reached by a three-hour hike through the jungle, or a long boat trip around the coast.

In the 1960s, ‘70s and ‘80s, many families emigrated overseas — like Wong’s, who moved to the UK when she was 15 — for better opportunities, and elderly residents passed away.

Lai Chi Wo became a ghost town.

Restoring a community

Over the decades that Lai Chi Wo lay empty, buildings crumbled, and farmland grew wild with weeds. The roots of banyan trees twined around open doorways, and wild boar or lost hikers were the only foot traffic through the decaying village.

But Lai Chi Wo was not entirely forgotten.

“Elsewhere in Hong Kong, many abandoned villages had houses collapsed beyond recognition and vegetation invaded the whole village,” says Chiu Ying Lam, head of the Hong Kong Countryside Foundation. However, when he first visited Lai Chi Wo in 2009, he was surprised to find several homes were well maintained.

Lam speculated that these absentee homeowners were still connected to their ancestral home, and were planning to return one day, perhaps to retire. This sparked an idea that would eventually become the Sustainable Lai Chi Wo program: a decade-long collaboration between NGOs, universities and government agencies to restore the village to its former glory.

In re-establishing the community, the unique biodiversity around the village could be protected too, says Lam.

Over the years, Lam estimates around HK$100 million ($12.8 million) in funding from businesses, non-profits and the Hong Kong government has been invested into the village’s redevelopment, including the restoration of five hectares of farmland and the reconstruction of 15 dilapidated homes.

While the project aimed to bring back former residents, it also wanted to bring in new people. In 2015, Ah Him Tsang and his wife, who are not Hakka, were one of the first families to move to the village, looking for a life “closer to nature” to raise their then-infant son.

Like many residents in Lai Chi Wo, Tsang works a variety of jobs: he grows vegetables and cash crops on a small farm, and on weekends, runs “Hakka Experience” homestays and a store that serves locally grown tea, coffee, and homemade vegan ice cream to tourists who pass through.

“I also grow these vegetables for my staycation program, (for a) farm-to-table dining experience,” says Tsang, adding that the Hakka Experience is designed to give visitors a more authentic experience of village life. “You can really feel the quietness, the serenity of the nature here. I hope more people can stay longer and enjoy the slow pace.”

Homecoming

The influx of new residents to Lai Chi Wo encouraged more of the original residents to move back, too.

Upon retiring, Wong returned to Hong Kong from the UK to care for her elderly parents, and heard about the revitalization project.

In 2019, she decided to return to the village with her now-103-year-old father, into the home they were both born in. “I’m very happy because I like this village. I have so many friends (who have) come back,” she says.

With her father, Wong runs a small farm, growing mandarin oranges, lemons, chilis, flowers, and vegetables, and uses organic agriculture techniques, such as grinding up discarded oyster shells to make plant food.

The project also introduced new crops like coffee, which grows in the shade. This agroforestry technique protects the forest by growing high-value plants around the perimeter of the native woodland, while boosting profits for farmers.

Lai Chi Wo now has around 700 coffee plants across several farms, making it the “biggest coffee-producing region in Hong Kong,” says Ryan Siu Him Leung, senior project officer at the Centre for Civil Society and Governance at the University of Hong Kong, which oversaw parts of Lai Chi Wo’s revitalization program.

The University of Hong Kong is leasing some of the land for experimental farming, and helping villagers turn their crops into higher-value products in a licensed food processing plant in nearby Sha Tau Kok, on Hong Kong’s border with mainland China. Products include pickles and unusual fruit jams, or seasonal foods like popular radish cake for Chinese New Year, says Leung.

“We’re also looking at traditional Hakka recipes, and trying to explore the possibility of turning those recipes into commercial products,” he says, adding that they are currently selling via local supermarket suppliers and pop-up farmers markets, and plan to launch an online shop soon, to reach more customers.

A model for redevelopment

While the project has garnered positive attention — including recognition from UNESCO in 2020 for cultural heritage conservation and sustainable development — it’s not all been smooth sailing.

There’s been resistance from some of the original villagers, who claim they were not properly consulted about the redevelopment.

Additionally, more than a decade into the project, the village is still not financially sustainable, and is supported by external funding, including government subsidies for the farmers.

Farming at such a small scale is largely unprofitable; so like Tsang, most residents have multiple income streams. Leung says that most of the new residents work remote jobs online, or in creative industries, with farming as a hobby where any income is a bonus.

Leung says that, aside from preserving the town’s traditional lifestyle, there’s an ecological advantage to maintaining the farmland: sustainable agriculture helps to better manage water drainage and improve soil health.

Even if the village isn’t economically independent, he feels it’s worthwhile, and that cultivating a sustainable community is more important. “As long as there are people willing to stay in the village, and they are making their living — to me, it’s financially viable for those individual households.”

The project has become a model for sustainable revitalization, and the Forest Village Project, launched in 2024, is applying the lessons from Lai Chi Wo to two nearby hamlets, Mui Tsz Lam and Kop Tong. These settlements are around one-tenth the size of Lai Chi Wo, says Leung, but they both have a feng shui woodland, diverse flora and fauna, and offer the potential to develop a wider eco-tourism destination.

“Hopefully, we could have a more comprehensive region of revitalized villages, which (could be) a bigger attraction to the wider (Hong Kong) community,” Leung adds.

This post appeared first on cnn.com

Ukraine struck Russian regions with a major drone and missile attack overnight, damaging at least two factories and forcing schools to close in a major southern Russian city, according to Russian officials and media.

The Shot Telegram channel said that Russia had downed more than 200 Ukrainian drones and five US-made ATACMS ballistic missiles.

“The enemy has organized a massive combined strike on the territory of the Russian regions,” the Two Majors war blogger said.

Alexander Bogomaz, the governor of the Bryansk region in western Russia, said Ukraine had launched a major missile attack but did not say which missiles had been used.

The Russian defense ministry, which reports on such attacks, made no immediate comment. Reuters was unable to immediately confirm the reports.

In the Russian city of Engels, home to an air base where Russia’s nuclear bombers are based, Saratov Governor Roman Busargin said an industrial enterprise had been damaged by a drone but gave no more details.

Busargin said that classes in schools in Saratov and Engels would be held remotely. Flight restrictions were imposed in Kazan, Saratov, Penza, Ulyanovsk and Nizhnekamsk, Russia’s aviation watchdog said.

Nizhnekamsk, in Russia’s republic of Tatarstan, is home to the major Taneco refinery. Shot said attack sirens were sounded at the refinery. Reuters was unable to immediately verify the report.

Russia fired a new intermediate-range hypersonic ballistic missile known as “Oreshnik,” or Hazel Tree, at Ukraine on November 21 in what President Vladimir Putin said was a direct response to strikes on Russia by Ukrainian forces with US and British missiles.

Putin, after those attacks, said that the Ukraine war was escalating towards a global conflict after the United States and Britain allowed Ukraine to hit Russia with their weapons, and warned the West that Moscow could strike back.

President-elect Donald Trump has pushed for a ceasefire and negotiations to end the war quickly, leaving Washington’s long-term support for Ukraine in question.

Russia’s 2022 invasion of Ukraine has left tens of thousands of dead, displaced millions and triggered the biggest crisis in relations between Moscow and the West since the 1962 Cuban Missile Crisis.

This post appeared first on cnn.com

WASHINGTON — The Biden administration will hold off enforcing a requirement laid out in an executive order this month that Nippon Steel abandon its $14.9 billion bid for U.S. Steel, the companies said on Saturday.

President Joe Biden blocked Nippon Steel’s planned acquisition of U.S. Steel on national security grounds on Jan. 3, and his Treasury Secretary Janet Yellen said this week that the proposed deal had received a “thorough analysis” by interagency review body, the Committee on Foreign Investment in the United States.

The delay will give the courts time to review a legal challenge brought by the parties earlier this month against Biden’s order. The parties previously had 30 days to unwind their transaction.

“We are pleased that CFIUS has granted an extension to June 18, 2025 of the requirement in President Biden’s Executive Order that the parties permanently abandon the transaction,” the companies said in a joint statement.

“We look forward to completing the transaction, which secures the best future for the American steel industry and all our stakeholders,” they said.

U.S. Steel and Nippon Steel alleged in a lawsuit on Monday that the CFIUS review was prejudiced by Biden’s longstanding opposition to the deal, denying them of a right to a fair review. They asked a federal appeals court to overturn Biden’s decision to allow them a fresh review to secure another shot at closing the merger.

The U.S. Treasury secretary chairs the CFIUS panel, which screens foreign acquisitions of U.S. companies and other investment deals for national security concerns. CFIUS normally decides directly on cases or submits recommendations to the president, but in the U.S. Steel-Nippon Steel case, the panel failed to reach consensus on whether Biden should to approve or reject it, leaving the decision to him.

Both Biden and his successor, President-elect Donald Trump, had voiced opposition to the Japanese company acquiring the American steelmaker as the candidates courted union votes in the November election.

CFIUS has rarely rejected deals involving the Group of Seven closely allied countries, which include Japan.

This post appeared first on NBC NEWS

Barry Diller’s IAC said Monday that its board approved the spinoff of Angi, the home improvement marketplace the company acquired in 2017.

IAC said it expects the transaction to close in the second quarter of the year. The two companies will post their respective fourth-quarter results when IAC reports on Feb. 11. Angi was founded in 1995 as Angie’s List, which went public on the Nasdaq in 2011.

As part of the spinoff, IAC CEO Joey Levin will leave his role and become an advisor to the company. Levin will also take on a new role as Angi’s executive chairman, serving as the marketplace’s senior executive alongside CEO Jeff Kip, IAC said.

“Joey Levin has been an exemplary leader of IAC, creating significant value during his nearly decade-long tenure as IAC CEO,” Diller, IAC’s chairman, said in a statement.

Upon Levin’s vacancy, IAC will operate without a new CEO, the company said. IAC’s top execs will report directly to Diller, as will publisher Dotdash Meredith, the company’s largest business. The rest of IAC’s units will report to operating chief Christopher Halpin.

IAC has previously used no-CEO structures when reorganizing its businesses. Most recently, in 2013, then-CEO Greg Blatt stepped down from the role to become chairman of the newly formed Match Group division.

“Each of IAC and Angi has a vigorous future, and I expect to remain an active participant in both,” Levin said in a statement.

As part of the spinoff, IAC shareholders will get direct ownership of Angi, IAC said.

IAC first announced it was considering a spinoff of Angi in November. At the time, the company said Angi’s revenue declined 16% year over year to $296.7 million during the third quarter. The company attributed the slide to reduced sales and marketing spend, which led to a decrease in service requests and lower acquisition of new professionals.

IAC acquired Angie’s List in a deal valued at more than $500 million. It merged the site with HomeAdvisor, creating a new public company. Angi currently has a market cap of about $770 million, and IAC owns 85% of it.

The spinoff has been under consideration for several years, but IAC postponed the effort in 2019 as it completed the Match Group transaction. Match owns dating services including Tinder, Match and Hinge.

IAC has become known for incubating businesses and spinning them off into separate companies. It’s done the same with Expedia, Ticketmaster and LendingTree, among others.

This post appeared first on NBC NEWS

Microsoft is forming a new group focused on developing AI apps and providing tools for third-party customers, the company announced Monday.

The new group will be led by Jay Parikh, the former CEO of cybersecurity startup Lacework and former global head of engineering at Meta. The group will be called Core AI — Platform and Tools, Microsoft CEO Satya Nadella said in a memo to employees that was also published as a blog post. The mission, he said, is “to build the end-to-end Copilot & AI stack for both our first-party and third-party customers to build and run AI apps and agents.”

The announcement comes 10 months after Microsoft hired DeepMind co-founder Mustafa Suleyman to lead Copilot AI initiatives. In that role, Suleyman is an executive vice president, reporting directly to Nadella.

In Monday’s post, Nadella said Parikh will work closely with Suleyman as well as Scott Guthrie, who runs cloud, technology chief Kevin Scott and other top tech leaders at the company. Parikh joined Microsoft in October as an executive vice president, also reporting to the CEO.

Artificial intelligence has become the primary theme in tech since OpenAI’s launch of ChatGPT in late 2022, and Microsoft, as the principal investor in OpenAI, has been at the center of the boom. Microsoft counts on OpenAI’s large language models for internal AI use when it comes to areas like content generation and code creation and also serves as the startup’s main cloud partner.

At the same time, Microsoft is developing products and tools that compete with some OpenAI services. Over the summer, Microsoft added OpenAI to its list of competitors in its SEC filings, and Nadella used the phrase “cooperation tension” while discussing the relationship with investors Brad Gerstner and Bill Gurley on a podcast released last month.

“Ultimately, we must remember that our internal organizational boundaries are meaningless to both our customers and to our competitors,” Nadella wrote in Monday’s memo.

The new group will bring together people working on developer and AI platforms, as well as teams from the Office of the CTO, Nadella said.

“Our success in this next phase will be determined by having the best AI platform, tools, and infrastructure,” he wrote.

Parikh joined Microsoft from Lacework, which had been a rapid growing and high-profile startup, soaring to a valuation of $8.3 billion in 2022, seven years after its founding. However, the company’s fortunes turned when the market shifted away from risk, and Lacework was forced to dramatically cut staff to try and turn profitable. In August, security software vendor Fortinet closed its acquisition of Lacework for $149 million.

— CNBC’s Jordan Novet contributed to this report.

This post appeared first on NBC NEWS

Harris Blitzer Sports & Entertainment announced on Monday a joint venture with Comcast Spectacor to build a new arena in South Philadelphia for the NBA’s 76ers and the NHL’s Flyers.

The deal represents a reversal from previous plans to build an arena in the Center City district of Philadelphia.

Harris Blitzer and Comcast Spectacor have entered into a binding agreement for a 50-50 stake in the project at South Philadelphia’s Sports Complex, which is slated to open in 2031. It will include the revitalization of Market East in Center City, the original proposed location for an arena. In December, the Philadelphia 76ers received approval to build a $1.3 billion arena downtown after more than two years of contentious negotiations.

The deal announced Monday will give Comcast a minority stake in the 76ers and naming rights to the arena. The Philadelphia-based company will also join HBSE’s bid to bring a WNBA team to the Liberty City.

Comcast Spectacor is already majority owner of the Philadelphia Flyers.

“From the start, we envisioned a project that would be transformative for our city and deliver the type of experience our fans deserve,” said HBSE’s Josh Harris, David Blitzer and David Adelman in a statement. “By coming together with [Comcast CEO Brian Roberts] and Comcast, this partnership ensures Philadelphia will have two developments instead of one, creating more jobs and real, sustainable economic opportunity.”

In committing to both investments, the companies say they will create thousands of jobs and generate billions of dollars in economic activity for the region.

“This has the potential to benefit our city for generations to come,” said Philadelphia Mayor Cherelle Parker during a news conference Monday.

Disclosure: Comcast is the parent company of CNBC.

This post appeared first on NBC NEWS

As the boutique fitness sector starts to buckle, Barry’s Bootcamp on Monday announced new investment from Princeton Equity Group.

“The reason why this [boutique fitness] works for Barry’s is that our positioning in the marketplace is premium,” said Joey Gonzalez, Barry’s co-CEO, in an interview with CNBC. “We always want to minimize risks to any sort of brand dilution, and we only ever want to elevate the Barry’s experience.”

Gonzalez said this funding round will be focused on investing in client experience and brand positioning in a highly saturated industry. Barry’s offers high-intensity running, lifting and training classes in its trademark red-lit rooms.

Barry’s has 89 studios globally that saw more than 7 million visits in 2024.

Princeton is a franchisor and consumer services-focused private equity firm with $1.2 billion in assets under management. It has invested in other wellness brands such as spa chain Massage Envy and athletic training facility D1 Training.

The size of the investment was not disclosed.

The fresh capital for Barry’s adds to a list of private equity investments dating back nearly two decades from firms including LightBay Capital and North Castle Partners.

Gonzalez said Barry’s will use the investment in part to fund expansion in 12 U.S. cities this year, including Charleston, South Carolina; Hoboken, New Jersey; and Salt Lake City, as well as locations in Madrid, Athens and Dublin.

″[This partnership] is enabling us to consolidate our operations in the UK and Canada,” Gonzalez said. “We will now be overseeing operations in these countries where we can foster a closely knit community and create efficiencies.”

The broader global boutique fitness studio market was valued at nearly $48 billion in 2023 and is expected to grow to $86 billion in 2030, according to estimates from Research and Markets. Still, several high-profile brands have struggled to grow their customer base.

Xponential Fitness, a franchisor of health and wellness brands, divested from two struggling boutique chains — Stride Fitness and Row House — last year.

Jefferies analyst Randal Konik cited industry headwinds including macroeconomic concerns that could cause a pullback in consumer spending, and said fitness has proven to be more need-based with more people prioritizing health and wellness.

“Tailwinds will be the focus on health and wellness coming out of Covid,” Konik said, “as well as a move towards strength training, [which] has lifted demand for all types of fitness classes and gym membership.”

Piper Sandler analyst Korinne Wolfmeyer cited “uncertainty around unit growth” at Xponential as one of the main reasons to stay on the sidelines of the stock.

Gonzalez said his company is bucking the trend.

“I think of Barry’s as one of the originals, and a very back-to-basics approach to fitness with efficacy at the heart,” said Gonzalez. “What Barry’s has really done is stick to our core competency: fitness experience, immersive experience, member experience.”

This post appeared first on NBC NEWS

The Securities and Exchange Commission on Monday said two related Robinhood broker-dealers agreed to pay $45 million in combined penalties to settle administrative charges that they violated more than 10 separate securities law provisions related to their brokerage operations.

The violations by Robinhood Securities LLC and Robinhood Financial LLC are related to failures to report suspicious trading in a timely manner, failing to implement adequate identity theft protections and failing to adequately address unauthorized access to Robinhood computer systems, the SEC said.

The two Robinhood entities also had longstanding failures to maintain and preserve electronic communications, failed to retain copies of operational databases, and failed to maintain some customer communications as legally required between 2020 and 2021, according to the agency.

The SEC said that Robinhood Securities alone failed for more than five years “to provide complete and accurate securities trading information, known as blue sheet data” to the agency.

According to an SEC order made public Monday, “During the [Electronic Blue Sheets] Relevant Period, in response to requests from the Commission, Robinhood Securities made at least 11,849 EBS submissions to the Commission that contained inaccurate information or omissions, resulting from eleven types of errors.”

“Those errors resulted in the misreporting of EBS data for at least 392 million transactions,” the order said.

Sanjay Wadhwa, the acting director of the SEC’s Division of Enforcement, in a statement, said, “It is essential to the Commission’s broader efforts to protect investors and promote the integrity and fairness of our markets that broker-dealers satisfy their legal obligations when carrying out their various market functions.”

“Today’s order finds that two Robinhood firms failed to observe a broad array of significant regulatory requirements, including failing to accurately report trading activity, comply with short sale rules, submit timely suspicious activity reports, maintain books and records, and safeguard customer information,” Wadhwa said.

Robinhood Markets General Counsel Lukas Moskowitz, in a statement, said, “We are pleased to resolve these matters. As the SEC’s order acknowledges, most of these are historical matters that our broker-dealers have previously addressed.”

“We are well-positioned to continue leading the industry in developing the innovative products and services our customers want and need to participate in U.S. and global financial markets,” Moskowitz said. “We look forward to working with the SEC under a new administration.” 

This post appeared first on NBC NEWS

Harris Blitzer Sports & Entertainment announced on Monday a joint venture with Comcast Spectacor to build a new arena in South Philadelphia for the NBA’s 76ers and the NHL’s Flyers.

The deal represents a reversal from previous plans to build an arena in the Center City district of Philadelphia.

Harris Blitzer and Comcast Spectacor have entered into a binding agreement for a 50-50 stake in the project at South Philadelphia’s Sports Complex, which is slated to open in 2031. It will include the revitalization of Market East in Center City, the original proposed location for an arena. In December, the Philadelphia 76ers received approval to build a $1.3 billion arena downtown after more than two years of contentious negotiations.

The deal announced Monday will give Comcast a minority stake in the 76ers and naming rights to the arena. The Philadelphia-based company will also join HBSE’s bid to bring a WNBA team to the Liberty City.

Comcast Spectacor is already majority owner of the Philadelphia Flyers.

“From the start, we envisioned a project that would be transformative for our city and deliver the type of experience our fans deserve,” said HBSE’s Josh Harris, David Blitzer and David Adelman in a statement. “By coming together with [Comcast CEO Brian Roberts] and Comcast, this partnership ensures Philadelphia will have two developments instead of one, creating more jobs and real, sustainable economic opportunity.”

In committing to both investments, the companies say they will create thousands of jobs and generate billions of dollars in economic activity for the region.

“This has the potential to benefit our city for generations to come,” said Philadelphia Mayor Cherelle Parker during a news conference Monday.

Disclosure: Comcast is the parent company of CNBC.

This post appeared first on NBC NEWS

The 10-Year Treasury Yield has gone up a full percentage point, from a low of 3.6% in September 2024 to a level of 4.6% this week. So what does this rapid rise in interest rates mean for your portfolio? Let’s look at the shape of the yield curve by comparing multiple maturities, review how recent moves on the yield curve relate to previous recessionary periods, and analyze the most important charts to gauge a potential impact.

Higher Rates Mean Bad News for Borrowers

The chart of the 10-Year Treasury Yield ($TNX) has effectively been in a wide trading range since mid-2023. The 10-Year has fluctuated between lows around 3.6-3.8% and highs in the 4.7-5.0% range. As we’re now seeing a 4.7% yield on the 10-Year, we could be setting up for a retest of the 2023 high around 5.0%.

Higher rates can definitely put pressure on industry groups like homebuilders, because this move in the 10-Year means new home buyers can expect much higher mortgage payments. In terms of broad market implications, the shape of the yield curve could have even more significance in the coming months.

The bottom two panels show the spread between the 10-year point on the yield curve compared to two other maturities: the 3-month and 2-year points. In recent years, we have experienced an inverted yield curve, where the short-term yields are higher than long-term yields.  But with the Fed lowering short-term rates, and long-term rates turning back higher, we once again have a normal shaped yield curve.

The Yield Curve Is No Longer Inverted — So What?

Investors love to debate whether a recession is likely, because that confirms that the economy is no longer growing as it usually does. But given the lag in economic data, investors can actually look at the shape of the yield curve to determine if conditions are present that suggest a recessionary period is coming.

Here, we’re taking the 2-year vs. 10-year points on the yield curve and plotting that spread back to 1985. I’ve placed a red vertical line where the yield curve turned back to a normal shape after being inverted, and I’ve also included orange-shaded areas which represent recessionary periods.

You may notice that over the last 40 years, every time we’ve had an inverted yield curve where the spread then turned back positive, we’ve seen a recession soon afterwards. You may also notice that the performance of the S&P 500 (bottom panel) confirms that the yield curve moving back to a normal shape usually happens just before a bear market begins.

While the long-term implications of a normal shaped yield curve are bullish, as they imply optimism about future economic growth, the reality is that the short-term environment for stocks is usually fairly unstable.

Market Trend Is What Matters Most

So what do we do given this bearish headwind for stocks going into 2025? I would argue that now, more than ever, it pays to follow the trend. As long as the medium-term and long-term trends in the S&P 500 remain constructive, then I’ll want to follow that uptrend until proven otherwise.

My Market Trend Model is designed to track the trend in the S&P 500 on three time frames: short-term (a couple days to a couple weeks), medium-term (a couple months), and long-term (over a year).  As of mid-December, the short-term model turned bearish for the S&P 500. The medium-term and long-term models remain bullish through last Friday.

I consider the medium-term trend to be the most important, as it serves as my main “risk on/risk off” measure. When the model is bullish, that tells me to look for long ideas and take on additional risk. When the model is bearish, that tells me to focus more on capital preservation than capital growth.

The short-term model turned negative five times in 2024, but the medium-term model remained bullish in all five cases. This helped me understand that those were brief pullbacks within a longer uptrend phase. If and when the medium-term model turns negative, you’ll hear me take on a much more cautious tone on my market recap show, as I’ll be looking for opportunities to take risk off the table.

RR#6,

Dave

P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!


David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.