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Crash Expert: “This Looks Like 1929” → 71,105 Diversifying Here
Mark Spitznagel, who made $1B in a single day during the 2015 flash crash, warned markets are mimicking 1929. Seems extreme but we did just see the worst quarter for the S&P since 2022.
So it’s not so surprising that Vanguard and Goldman Sachs forecasted 5% and 3% annual S&P returns respectively for 2024-2034.
Late last year, Apollo’s chief economist Torsten Slok put it this way: "expect zero in return in the S&P 500 over the coming decade."
Almost no one knows this, but postwar and contemporary art appreciated 10.2% annually with near-zero correlation to equities from 1995–2025 overall.*
And sure… billionaires like Bezos can make headlines at auction, but what about the rest of us?
Masterworks makes it possible to invest in legendary artworks by Banksy, Basquiat, Picasso, and more – without spending millions.
29 exits. Net annualized returns like 16.5%, 17.6%, and 17.8% on works held over 1 year+. $1.3 billion invested. 500+ offerings.*
Shares in new offerings can sell quickly but…
*According to Masterworks data. Past performance is not indicative of future returns. Investing involves risk. Important Reg A disclosures: masterworks.com/cd.
Happy Monday Edmonton and sister towns!
Monday landed with a full plate this week. The western premiers are gathering in Kananaskis right now with Alberta's referendum front and centre, a bus full of Edmontonians hit the road Sunday waving Canadian flags, and Russia hit Kyiv overnight with the most devastating attack in over a year.
Grab your coffee. Let's get into it.💛
Western Premiers Are in Kananaskis Right Now Talking About Alberta's Future
Smith faces her western counterparts Monday as the referendum takes centre stage at the summit.
BC's Eby and Saskatchewan's Moe are both in the room and neither has been quiet about where they stand.
Ottawa is watching closely. This is the first formal gathering of western leaders since the referendum was announced.
What do you think comes out of this summit?
Follow-up to Issues 79, 80 and 81.
🚌 Edmonton Sent a Bus of 600 Canadians Down the Road Sunday
Thomas Lukaszuk launched the Forever Canadian unity tour from Edmonton's northwest with a crowd of supporters in red and white sending it off.
The bus travels Alberta for six months promoting a No vote in October. MP Eleanor Olszewski was there.
This is separate from the Kenney-led Vote to Stay campaign. Edmonton now has two grassroots federalist movements running at once.
Know someone who needs to hear about this? Pass it along.
Follow-up to Issues 80 and 81.
Carney Lifted the FIFA World Cup Trophy and Edmonton Is on the Hosting List
Canada's prime minister became the first Canadian to hoist the real FIFA trophy at a ceremony in Ottawa with FIFA president Gianni Infantino.
The government announced $755 million in FIFA investment. Canada opens June 12 in Toronto against Bosnia.
Edmonton hosts Canada vs Uzbekistan on June 1. If you have been thinking about going, now is the time.
Got your tickets yet?
Russia Just Hit Kyiv With Its Biggest Attack in Over a Year
More than 600 drones and 90 missiles including a nuclear-capable hypersonic Oreshnik struck the Ukrainian capital overnight.
Four people were killed and 83 were injured. Every district of Kyiv was hit and the Chernobyl museum was destroyed.
Ukraine is calling on Western partners to respond. The Oreshnik being used on a civilian city is a first.
What do you think the West's response should be?
Trump Said the Iran Deal Was Almost Done. Then He Said Nobody Knows What It Is.
Within 24 hours, Trump went from "largely negotiated" to posting that nobody has seen the deal and it must be the opposite of Obama's.
Secretary Rubio says "significant progress but no final deal." Iran says nuclear rights are non-negotiable.
Hormuz stays closed. Oil stays above $100. Every delay costs Alberta royalty revenue.
Does this feel like a deal getting closer or a deal falling apart?
Follow-up to Issues 77 through 81.
Edmonton local Weather
Day ⬆7° higher than historical avg, Night ⬆6° higher than historical avg.
🌤️ Edmonton Weather - Monday May 25th
Weather is now written into the draft. To answer your question directly — the Running Log does have The Weather Network URL locked in, and that is correct. In last night's automated session the site came back blocked, which is why I left a placeholder instead of trying again when you were here. It loaded fine just now with no issues. Going forward I will always attempt to pull it live and only flag you if there is a genuine access problem.
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📅 Events Happening This Week in Edmonton
Monday May 25
🌸 Beverly Towne Farmers’ Market 🎟️ Details
🗓 May 25 · ⏰ 3:00 PM–7:00 PM · 📍 Riverview Crossing Shopping Centre, Edmonton
A Tuesday east Edmonton farmers’ market.
🌸 Bountiful Farmers’ Market 🎟️ Details
🗓 May 25 · ⏰ 10:00 AM–4:00 PM · 📍 3696 97 Street NW, Edmonton
A year-round market open Tuesday.
🌸 Orchards Farmers’ Market 🎟️ Details
🗓 May 25 · ⏰ 3:30 PM–7:30 PM · 📍 4059 Orchards Drive SW, Edmonton
A bi-weekly Monday market starting May 25 for the season.
Tuesday May 26
🌸 Bountiful Farmers’ Market 🎟️ Details
🗓 May 26 · ⏰ 10:00 AM–4:00 PM · 📍 3696 97 Street NW, Edmonton
A year-round market open Monday?
Actually, the city listing says Friday, Saturday, and Sunday only, so it is not open May 26.
🌸 Beaumont Days 🎟️ Details
🗓 May 25–26 · ⏰ Daytime and evening programming · 📍 Beaumont
A community celebration in Beaumont with weekend programming.
🌸 Edmonton Events Calendar listings 🎟️ Details
🗓 May 25–26 · ⏰ Varies · 📍 Edmonton
The city calendar continues to show live music, workshops, and community programming across the city.
🌸 City of Edmonton Festivals and Events 🎟️ Details
🗓 May 25–26 · ⏰ Varies · 📍 Edmonton
The city’s official calendar remains the best source for currently scheduled events.
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THIS OR THAT 🗳️
Edmonton is hosting the FIFA World Cup next week. When Canada takes the field on June 1 at Commonwealth Stadium, where will you be?
A) In the crowd at Commonwealth
B) On my couch with snacks and a Canadian flag 🍿
Hit reply and let us know. We want to see how many of you are going to be there.