Matt breaks down the Fed’s 25 bp rate cut and the end of quantitative tightening — what it means for liquidity, inflation, and credit markets. Then he dives into The Financial Times piece, “Big Tech’s Market Dominance Is Becoming More Extreme,” explaining how eight companies now drive most of the S&P 500’s gains and profits.

Plus, a classic book spotlight: The Intelligent Investor by Benjamin Graham — Warren Buffett’s guide to fundamentals, market discipline, and margin of safety.

Mentioned: Jerome Powell, Stephen Myron, Benjamin Graham, Warren Buffett, Barron’s, Financial Times.

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Focus on the fundamentals — and think long term.