Markets may be volatile, but there is one commodity that’s super hot right now. That’s right. It seems like everybody’s investing in turkeys these days. Will this market trend continue through the new year? Only time will tell. Just kidding. We usually spend this column talking about the F-word…by which we mean Finance, of course. But today, there are a bunch of other F-words on our minds – Family, Friends, Food and Football. Thanksgiving really does have it all. So instead of blathering about the markets today, allow us to blather about our favorite holiday. Here are a few tips to help you make the most of this occasion. 1. Leave the stress outside of the kitchen. Cook with joy. 2. If you’re not the head chef, do your best to be helpful. 3. Never show up to somebody else’s house empty-handed.4. Amid all the gorging, squabbling, and napping, try to remember what this holiday is really about.Well yes, but also…it’s all about being thankful for what you’ve got. And in that spirit…We appreciate you. Now go have an amazing Thanksgiving holiday.

The Big 3Monday, November 24, 2025 A quick look at the top stories we’re following this week.Alphabet drives resurgent AI stocks on Monday.The Google parent company is flirting with a $4 trillion cap after announcing a new multi-million-dollar contract with the NATO Communication and Information Agency.President Trump set to unveil a proposal to offset rising healthcare costs.The administration is hoping to prevent the spike in insurance premiums once subsidies from the Affordable Care Act lapse in January.DOGE disbands. The Department of Government Efficiency, once led by Tesla CEO Elon Musk, has been terminated with eight months left on its original contract. This week’s Company Earnings Announcements at a glanceAgilent Technologies, Inc. (A)--Monday, 11/24Alibaba Group Holding Limited (BABA)--Tuesday, 11/25Dell Technologies Inc. (DELL)--Tuesday, 11/25Deere & Company (DE)--Wednesday, 11/26

I've been seeing a handful of new posts about how the latest IMMINENT DOOM will be related to the unwinding of the Japanese Carry Trade:https://substack.com/inbox/post/179147223 But it also appears that people (cc @ozmodiar) on Urvin were discussing the same IMMINENT DOOM over a year ago:https://urvin.finance/community/macroeconomics/post/japanese-yens-surge-what-it-means-for-us-markets-a74087d9c8c9495492acd937af936244/ So this seems like a thing, but maybe not as IMMINENT as portrayed..? Is this something that will be a slow burn/fizzle like the some of the other IMMINENT DOOM scenarios? (Evergrande anyone?) I've also seen posts about how a European country (Switzerland?) is lowering their rates to 0%, so presumably some/all of the borrowed yen could be converted, allowing the 0% rate to continue, just not using the yen, and lessening the DOOM?The market seems to hardly care about any of the IMMINENT DOOMs, but curious to hear some other perspectives.@dlauer has there been a Let's Talk Markets about the implications of the carry trade unwind/if there is one and not just a roll to a different country providing 0% - (and if not, could there be?)