Hey —
The stat that got me up at 5am to write this week's edition:
5 companies now drive 27% of all S&P 500 capex.
Which means "owning the market" now means owning one trade. And the family office consensus [the one JPM and Goldman are writing white papers about] is structurally underweight the hedge.
The full breakdown is in Edition 44. The first one live on Substack.
As promised, this is my final send from Beehiiv.
Two paths forward:
→ Subscribe on Substack now. One click, 10 seconds. Edition 45 hits your inbox Monday. Subscribe here
→ Do nothing. I'll migrate you automatically in 48 hours. Same voice. Same cadence. New home.
Either way, you're coming with me.
Thanks for being here from the start. The signal gets sharper from here.
See you on the other side.
— Team FutureProof
P.S. Edition 44 ends on a line I keep returning to: "The winners will be honest before the repricing arrives." If that's true for the markets, it's true for the portfolios. Read the full breakdown on Substack.
DISCLAIMER: None of this is financial, investing, or health advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets, products, or to make any financial decisions. Please be careful and do your own research.