<div id="readability-page-1"><div id="blog-content"><img height="281" src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2016/07/JUN15_04_buffet-1024x576.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="500" original-src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2016/07/JUN15_04_buffet-1024x576.jpg"/>Source Below are some of the most interesting things I came across this week.This week, Michael Santoli introduced the world of finance to David Snyder, the true identity of the “mystery broker” and a source of his who has regularly and accurately called important market turning points over the past two decades. In an extensive report on his website, Snyder argues, “Just about all of the boxes have been checked that an investor would look for to determine that the end of a secular bull market is near.”<img height="719" src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/bafkreigsoqbaruqejmmpwt7kzl2llri536oay4xjimr2qx2w3fbadfymyy.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" original-src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/bafkreigsoqbaruqejmmpwt7kzl2llri536oay4xjimr2qx2w3fbadfymyy.jpg"/> CHARTLike Snyder, Jurrien Timmer, too, points out that, “Looking at the 1949-1968 and 1982-2000 secular bull markets, this one appears to be in its final innings.”<img height="353" src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/bafkreidlghnmq2zq6c54xecn7g4wej2upw6mp6mrejyqsc6afa3yb6oxyi.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" original-src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/bafkreidlghnmq2zq6c54xecn7g4wej2upw6mp6mrejyqsc6afa3yb6oxyi.jpg"/> CHARTPerhaps the most important late-cycle dynamic in the stock market at present is the tech investment cycle. “As the race for AI supremacy both within the USA and globally rages on, tech sector fixed asset investment has surged — crowding out capex by the rest of the market,” writes Callum Thomas.<img height="421" src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/bafkreif3dr4alpd7ye76zvqq2mgiwwlppgbt6iltjzlfrrko4pzs5dgoke.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" original-src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/bafkreif3dr4alpd7ye76zvqq2mgiwwlppgbt6iltjzlfrrko4pzs5dgoke.jpg"/> STATHowever, this sort of spending is not a great sign for forward returns. “Between 1968 and 2007, low-asset-growth firms had an average return of 26% annually, while high-asset-growth firms returned a meagre 4%,” reports The Globe And Mail.<img height="430" src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/Screenshot-2026-01-02-at-10.44.20-AM.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" original-src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/Screenshot-2026-01-02-at-10.44.20-AM.png"/> LINKFinally, as the current stock market cycle ages, Wall Street says goodbye to one who has successfully navigated several in his storied career. “What is the secret of Buffett’s astounding success? I believe it is his character. Wall Street is full of intelligent — and ambitious — men and women, but few have displayed Buffett’s unswerving integrity and dedication to principle,” writes Buffett biographer, Roger Lowenstein.<img height="410" src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/Screenshot-2026-01-02-at-10.44.29-AM.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" original-src="https://imageproxy.pbkrs.com/https://thefelderreport.com/wp-content/uploads/2026/01/Screenshot-2026-01-02-at-10.44.29-AM.png"/><hr/>More By This Author:Bubbles Are Everywhere You Look A Weakening Earnings Foundation Leaves The Market Increasingly Fragile Is Search Activity Forecasting An Imminent Fall For ‘AI Stocks’?</div></div>

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This week, insights from finance experts suggest that the end of the current secular bull market may be near, as indicated by David Snyder and Jurrien Timmer. The tech investment cycle, particularly in AI, is dominating capital expenditures, which may not bode well for future returns. Historical data shows low-asset-growth firms outperforming high-asset-growth firms significantly. Additionally, reflections on Warren Buffett's success highlight his integrity and principles as key factors in his storied career.

- Michael Santoli has introduced David Snyder, known for accurately predicting market turning points, who believes the end of the current secular bull market is near.  
- Jurrien Timmer supports this view by comparing current conditions to past bull markets, suggesting they are in their final phases.  
- Additionally, high-tech investment is crowding out broader market capital expenditures, raising concerns about future returns, as highlighted by insights from Callum Thomas and historical performance data.

The Secret Of Warren Buffett’s Storied Success