Yield Hunting November 2025 Newsletter | Now We Worry About Cockroaches

Optimism doesn’t deny difficulty; it sustains effort.”

- Unknown

“It’s generally human nature to overestimate risk and underestimate opportunity.”

— Jeff Bezos

Summary:

• We continue to be risk-on with both bonds and stocks. On the stock side, we favor US large caps, especially in the tech sector, since that’s where all the growth lies.

• The new buffers for Nov …