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Lilly’s fortunes are presently tied to the GLP-1 drugs – Mounjaro and Zepbound. The stock has enjoyed a considerable ascent, a three-year gain that would make most investors smile. But such exuberance is often fleeting. The price-to-earnings ratio, now a rather lofty 49, and a yield of a mere 0.6%, suggest that much of the optimism is already priced in. It’s a delicate balance, isn’t it? To enjoy the present without unduly worrying about the inevitable turning of the wheel.

The prevailing sentiment, as gleaned from fragmented reports and whispered analyses, centers on concerns regarding margin volatility, the accumulation of credit provisions, and the substantial investments in logistical infrastructure. These are, of course, the visible threads of the labyrinth. But to focus solely on them is to mistake the map for the territory.

These were not, to be sure, companies of dreams or innovation. They were behemoths, monuments to a past age, content to extract and refine, to count and accumulate. Yet, in a world obsessed with the ephemeral and the fleeting, their very solidity possessed a strange appeal. The promise wasn’t of riches, but of a quiet, persistent income, a bulwark against the inevitable storms. Two such entities, ExxonMobil and Energy Transfer, had become the objects of a muted fascination, their fortunes intertwined with the insatiable hunger of a world demanding ever more energy.

Nvidia, for a long time, felt like the obvious answer. They’ve been on a run, haven’t they? A truly impressive, almost unsettling run. It’s like watching a particularly ambitious houseplant thrive while everything else withers. Since 2023, they’ve essentially lapped the field, rising over 1,100% while AMD managed a respectable, but comparatively modest, 209%. But lately? Things have…shifted. Since 2025, AMD has been nipping at their heels, gaining 65% to Nvidia’s 30%. It’s a bit like watching a determined dachshund trying to overtake a greyhound. Unlikely, perhaps, but not entirely impossible.

Last year? A fluke. A momentary surge in the digital tide. Roku actually beat the market. Tripled it, they say. Forty-six percent. A goddamn MIRACLE. But 2026? A different beast altogether. Down eighteen percent. Eighteen! The market doesn’t forget, and it certainly doesn’t forgive. It’s starting to look like the streaming wars are leaving Roku as collateral damage.

There was a definite whiff of speculation, you know? Like everyone was trying to predict not just the economy, but each other’s predictions. It reminded me of those meme stocks, only shinier. Then, towards the end of January, crash. Not a full-blown apocalypse, but a definite wobble. And that, naturally, got me thinking. (Thinking being the operative word. Often followed by mild panic.)