Signals and Noise Free
Week ending May 15th 2026
This week's Signals & Noise is live.
On Monday, CSL fell 16% in a single day. The stock now sits at $120, down from $290 in 2025. That is a 57% loss in twelve months for one of the most loved blue-chips on the ASX. A decade of gains, gone.
The fund managers who are paid to know better stayed bullish all the way down. Twelve brokers. Still rating it BUY. Their average target price right now is $195. The stock is at $120. These are the experts who are supposed to help non-experts secure their financial goals.
This week's free edition opens with the CSL story and what it tells us about the Risk Hierarchy, ETFs versus stock picking, and why most fund managers fail over 20 and 30 year periods.
Premium members also received the full broker consensus deep dive, Steve's geopolitics review on the Trump-Xi summit and Putin's concession, the Galbraith warning, the GfKV Global Systemic Rupture document, Dr Copper's signal on the supply deficit, Grasberg's delayed restart, the Lynas Malaysia protests, and the latest CAPE update at 40.3.
For the next 48 hours, Premium is 50% off your first month with code PODCAST. That includes Steve's monthly live coaching call with the TMM team.
Read the full free edition below.
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