Published January 8, 2026
We’ll now begin to add market comments throughout the month to WPIL paid subscribers. These will be random in nature. I’ll write something when I think there is something worth writing about…mostly centered around the equities we’ve covered and in which we hold positions.
If something important happens I’ll comment, if I don’t you can assume the stock is just trading on noise.
Last week, BILL dropped nearly 10%. No news. It was a general sell-off of the enterprise software segment. Noise. It has recovered all of that:
I’ve never been one for market forecasting…I think that’s something of a waste of time. Focus is on what we can control…the stocks we have, how much we have, when to buy and sell.
As a simple example, there have been no meaningful news items on any of the stocks we’re in (BIIB excepted). Just a lot of new year Jell-O where people buy or sell in what is mostly repositioning. But from our perspective, just market noise.
Example, UNP dropped $10 yesterday. The only news was that competitors are objecting to the merger. Of course they’re objecting to the merger. They claim the filing with the government is incomplete and lacks some meaningful information. The filing is 7,000 pages long. I’m buying some more today via January 2027 $210 call options.
BIIB continues to make progress in their new drug pipeline. China approved LEQEMBI (lecanemab) for Biogen in January 2024 as a treatment for mild cognitive impairment due to Alzheimer’s disease and mild AD dementia. Additionally, in December 2025, LEQEMBI was included in China’s Commercial Insurance Innovative Drug List which should help expand patient access. But that’s all just within the trajectory of our expectations so not really meaningful. Small steps will accumulate. BP dropped on an analyst downgrade…more noise.
One comment on gold/silver. Big move is probably over for now. And for Bitcoin, it just doesn’t have any legs. And the move from the AI-centric market continues with investors it seems just realizing there are 493 other stocks in the S&P 500. They will find the water is just fine.
