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As a child, I remember reading comics in the newspaper. My favorite was Calvin and Hobbes, which told the story of an imaginative six-year-old boy, the former, and his stuffed tiger/best friend, the latter. Having just celebrated 30 years since its last publication, we will look to it as inspiration for our 2025 recap and 2026 outlook. Out of respect for the Watterson estate and copyright laws—there are no actual comics in this post. We strongly recommend you taking few minutes to check them out online if you never have before…

Though technically not the actual title (Oedipus was a tyrant (tyrannus), not a king (rex)), we can never pass over a good pun. Accordingly, we comically (or, maybe satirically) use a play on words here as our theme.

Markets have been beaten up to start 2025, especially as it relates to tariffs and government spending cuts, pronouncements from both the president himself as well as his various cabinet members are moving markets. What we have experienced has been unpredictable and violent, like the financial version of a bar-room brawl.

Markets have been beaten up to start 2025, especially as it relates to tariffs and government spending cuts, pronouncements from both the president himself as well as his various cabinet members are moving markets. What we have experienced has been unpredictable and violent, like the financial version of a bar-room brawl.

Markets have been beaten up to start 2025, especially as it relates to tariffs and government spending cuts, pronouncements from both the president himself as well as his various cabinet members are moving markets. What we have experienced has been unpredictable and violent, like the financial version of a bar-room brawl.

In a case of almost perfect irony, I have waited a long time to use this theme. However, with Google’s AI Overview informing me ”the play’s tone is absurdist and nihilistic,” it seemed appropriate at this point in the market and election cycle.

In a case of almost perfect irony, I have waited a long time to use this theme. However, with Google’s AI Overview informing me ”the play’s tone is absurdist and nihilistic,” it seemed appropriate at this point in the market and election cycle.

In a case of almost perfect irony, I have waited a long time to use this theme. However, with Google’s AI Overview informing me ”the play’s tone is absurdist and nihilistic,” it seemed appropriate at this point in the market and election cycle.

As we reach the midpoint of summer, the only thing rising faster than the thermometer has been the VIX, a widely followed measure of market volatility.

We are privileged to work with insightful people here at Formidable, and during a recent call one of our colleagues mentioned how the current market reminds him of Jenga. Accordingly, in the spirit of family vacation rainy day activities, we will use Jenga (and a few other games) as inspiration this quarter.