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Unsustainable Things Rarely Sustain

Josh Brown · 17 May 2026

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Every claim below was made in this piece, quoted word for word and numbered in the order the piece makes them, so you can read it there rather than take our word for it. The sentence above each quote is our reading of the claim, not their wording. Each quote was checked against a stored copy of the page at build time; where the two differ, the quote is the fact.

  1. Our reading

    The concentration of profits among the largest companies is a major secular trend that is unlikely to reverse.

    Their wordsThis concentration of profits among the largest companies is obviously (I can say "obviously" at this point) among the great secular trends of our era. And while the pace of this might be unsustainable, directionally - I would guess - it's unlikely to reverse.

  2. Our reading

    The current rate of upside shocks in semiconductor earnings expectations is unsustainable.

    Their wordsThe rate of this upside shock is obviously unsustainable. Eventually, the analysts catch up with their forecasts.

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