Flying Turkey
Hopefully Rewarding My Patience...
This letter reads WAY better in your browser than in your email - so do yourself a favor and click on the title above to read it that way.
Never gets old
Great year for Passport investments.
The Dollar
The Dollar had a tough 2025 but is green to start 2026 so far.
The Scoreboard
The US is only beating 12 countries and 32 countries are up by more than 20% YTD.
So far in 2026 - the US is only beating 10 countries (trailing 35). My problem is that I own 4 of them at present, so I need them to wake up!
Interesting Data
Germany - EWG 0.00%↑
French inflation is below 1% and now German inflation is at 2% and surprising lower.
Chile - ECH 0.00%↑
Chile taking advantage of the copper bull…
China - MCHI 0.00%↑
This gold bull market along with more buying has led to quote the shift in reserve profiles in places like China.
Argentina - ARGT 0.00%↑
Industrial production going in the wrong direction in Argentina.
Interesting News
Brazil - EWZ 0.00%↑
South Korea - EWY 0.00%↑
China - MCHI 0.00%↑
China doing great considering the deflationary headwinds.
Colombia - COLO 0.00%↑
Interesting Charts
