Tuesday links: assiduous avoidance

MarketsThere is a new high in the number of global stock markets hitting new highs. (entrylevel.topdowncharts.com)Small caps are having a moment. (allstarcharts.com)So are microcaps. (capitalspectator.com)StrategyThere are no members of the forecasting hall of fame. (betterletter.substack.com)Market leadership can change without the market breaking. (excessreturnspod.substack.com)There is one upside to illiquid investments. They prevent you from making rash decisions. (behaviouralinvestment.com)EconomyDecember CPI was in line, but grocery prices are still an issue. (axios.com)Eleven things weighing on consumer confidence. (larryswedroe.substack.com)Net migration was likely negative in 2025. (washingtonpost.com)Bill McBride of Calculated Risk is pulling back on economic coverage. (calculatedriskblog.com)Earlier on Abnormal ReturnsResearch links: earnings uncertainty. (abnormalreturns.com)What you missed in our Monday linkfest. (abnormalreturns.com)Adviser links: thinking about success.