Words to Remember
Every Month Is October 🧠
“October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February.”
Why we ran it
The 10-year Treasury yield climbed to 5.24% after topping 5.29%, its highest close since 2002, while TLT sank below $80 and is now down 36% in five years. The S&P 500 now yields about the same as a 10-year Treasury, bringing real competition for investment dollars and ending the era when stocks had no viable alternative. Mark Twain's wry analysis of market hazards is evergreen, since every month seems just as risky when old certainties vanish.
From the October 2, 2026 issue: TINA Is Dead. Bonds Killed Her. →