Bulls vs. Bears

Weekend edition newsletter and podcast

Bulls vs. Bears

Bulls vs Bears EP126: HalfTime Report

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The best first half in the Dow in fifty years is in the books. Mark, Kai and guest Finn unpack a monster six months — the record SOX rally, why chips just cracked (Micron down 20% in two sessions), and where the money’s rotating next. Plus: the ASX halftime card, why healthcare could finally be turning, Kai’s Pro Medicus trade of the half year, and a deep dive into the AI stack — infrastructure, cloud, application — and why the cloud distribution layer is the opportunity most investors are sleeping on. MPC Markets also turns three. Happy birthday to us.

Bulls vs. Bears, MPC Morning Call

Bulls vs Bears: Chips Stocks Win becomes the hyper scalers loss

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The week that closed the first half of 2026 delivered something more interesting than a directional market move: it forced a clarification. The AI trade is not over. It’s just been redrafted. The hyperscalers — companies spending hundreds of billions to build the infrastructure — are getting sold. The companies supplying that infrastructure at margins they can barely keep up with are getting bought. Micron’s blowout quarterly result, released Wednesday night, was the exclamation mark on a week that started with the “Chip Wreck” and ended with a very different conversation.

Bulls vs. Bears

The Next Mega IPO’s

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After SpaceX lit the fuse on the IPO market, investors are already asking the next question: who is next? In this episode of Bulls vs Bears, we look at the coming wave of mega IPOs — from AI giants like OpenAI, Anthropic and Databricks to fintech names like Stripe — and ask whether these listings are genuine long-term opportunities or simply a way for private-market insiders to cash out at peak valuations.

Bulls vs. Bears

From Freakout Friday to Peace Deal

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Markets navigated one of the most dramatic weeks of 2026 — scorching inflation, an Iran peace deal that sent oil plunging, and the SpaceX IPO landing as the largest since Alibaba. CPI hit 4.2%, the Dow broke below 50,000, then Trump’s 12-nation Iran deal reversed everything in a single session. Mark Gardner breaks down what it means for your portfolio heading into the Fed’s first meeting under new Chair Kevin Warsh.

Bulls vs. Bears

Weekend Edition EP96: IS OpenAI the Posterchild of AI, or the AI bubble

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Nvidia faces increasing scrutiny after trading algorithms uncovered critical accounting red flags in its latest earnings report, highlighting issues beneath the headline growth. Key among these is a sharp rise in accounts receivable, with the company’s Days Sales Outstanding (DSO) spiking to 53 days—well above norms and suggesting customers are taking delivery of chips they can’t pay for, resulting in phantom revenue.​

Bulls vs. Bears

Weekend Edition EP95: Tech Stocks smashed as Investors dig deeper into Nvidia results

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Nvidia faces increasing scrutiny after trading algorithms uncovered critical accounting red flags in its latest earnings report, highlighting issues beneath the headline growth. Key among these is a sharp rise in accounts receivable, with the company’s Days Sales Outstanding (DSO) spiking to 53 days—well above norms and suggesting customers are taking delivery of chips they can’t pay for, resulting in phantom revenue.​

Bulls vs. Bears

Weekend Edition EP93: Corporate Lay-offs signal weakness in US Labour market

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U.S. and Australian markets have seen increased volatility and cautious sentiment, with a notable surge in U.S. layoffs, mixed performances across sectors, and shifting investor moods captured both in corporate results and social media reactions. Mark and Jonathan from MPC Markets take a bearish stance, highlighting investor anxiety, disconnects between market levels and sentiment, and the importance of staying informed and cautious as market dynamics evolve.​

Bulls vs. Bears

Weekend Edition EP92: Mega-cap stocks deliver earnings

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Amazon crushed earnings on the back of AWS—but what does that mean for AI-led infrastructure and the rest of the MAG-7? In Episode 92, Jonathan and Kai dive into a mixed week for equities, Japan’s booming Nikkei, Australia’s CPI shock, the Fed’s “hawkish cut,” and a powerful move in uranium and gold. Plus: Kai’s thoughts on CSL after the sell-off and Jonathan’s Trade of the Week—Ballard Mining (BM1).

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