The Last Time Stocks Were This Expensive Was December 1999.
"Right now, it's good. But it was in '72, '86, 2000, and 2007." - Jamie Dimon, May 2026.
The Shiller CAPE ratio just hit 42.3. The only time in 140 years it's been higher? December 1999.
Stocks can stay expensive for a long time...
It’s one metric to consider, but when your portfolio is built around the most expensive equities in modern history, what else you diversify with could really matter.
Blue-chip contemporary and post war art has shown near-zero correlation with the S&P since 1995.* Prices are largely driven by private collectors competing for a fixed supply of artwork by artists like Banksy, Basquiat, and Picasso.
Masterworks lets you invest in shares of that market.
$1.3B deployed across 500+ artworks
29 exits to date
Net annualized returns like 16.5%, 17.6%, and 17.8%, not including those unsold
*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.

Good Morning,
The Lagos State Government has reinforced its commitment to orderly urban development by tightening oversight of housing projects and warning contractors against unnecessary delays. Officials say timely project completion is essential to meeting the state's growing housing demand, maintaining development standards, and supporting sustainable urban growth. The move forms part of broader efforts to strengthen planning compliance, improve accountability in the construction sector, and ensure housing developments are delivered in line with approved timelines and regulations.
Lagos Strengthens Urban Planning, Warns Contractors Over Delayed Housing Projects
The Lagos State Government has intensified efforts to strengthen urban planning and accelerate housing delivery, warning contractors handling state-backed residential projects that persistent delays will no longer be tolerated. During an inspection of ongoing housing developments, the government directed contractors to meet agreed timelines or face sanctions, including the possible termination of their contracts. The move forms part of Lagos' broader strategy to improve housing supply and support orderly urban development.
Wike Says 70% of Completed FCT Projects Were 15-Year-Old Abandoned Contracts
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has disclosed that about 70% of the infrastructure projects completed by the FCT Administration under President Bola Tinubu were contracts abandoned for between 15 and 16 years before the current administration revived them. He said the decision to complete the inherited projects aligns with President Tinubu's directive that viable government projects should not be abandoned.
Nigeria Loses ₦2.376 Trillion to Grid Inefficiency in 12 Years, NISO Reveals
Nigeria has incurred more than ₦2.376 trillion in losses due to persistent inefficiencies in its electricity grid over the past 12 years, according to the Nigerian Independent System Operator (NISO). The agency says a significant portion of the country's available electricity generation capacity remains stranded because the transmission and system operations framework cannot dispatch all available power to consumers.
AI/Tech Angle A, June - Secondary
Claude vs Gemini. GPT-7 vs Llama 5. Which AI lab ships AGI first. These are live Kalshi markets with real money on both sides, updated in real time as releases land. The person who follows model cards and tracks evals has a genuine edge here. If that's you, trade it.
Nigeria Attracts $2.6 Billion in Mining Investments as Sector Revenue Climbs to ₦70 Billion
Nigeria's solid minerals sector attracted $2.6 billion in investment commitments while government revenue from mining increased from about ₦16 billion in 2023 to over ₦70 billion in 2025, according to the Solid Minerals Development Fund (SMDF). The significant growth reflects ongoing reforms aimed at positioning mining as a major contributor to economic diversification and reducing Nigeria's dependence on oil revenue.
The ops layer your portfolio never had.
Viktor runs the back office from one Slack thread: collects vendor quotes, reconciles rent against deposits, chases late payers, adjusts short-term rental pricing, and ships the owner report with a cash flow forecast. Managing 20 units now feels like managing 2. 3,200+ integrations.
House of Representatives Erupts Over Motion to Summon Tinubu on Budget Implementation
Proceedings in the House of Representatives turned rowdy after lawmakers clashed over a motion seeking to summon President Bola Tinubu to explain alleged delays in funding and implementing approved federal budgets and constituency projects. The disagreement, which cut across party lines, disrupted plenary as members debated whether the President should personally appear before the National Assembly to address concerns over budget execution.
CBN Reaffirms Standard ₦100 Note Remains Legal Tender Nationwide
The Central Bank of Nigeria (CBN) has reaffirmed that the standard ₦100 banknote remains legal tender and must be accepted for all transactions across the country. The clarification follows reports that some individuals and businesses have refused to accept the standard ₦100 note, mistakenly believing it had been withdrawn following the introduction of the commemorative ₦100 note.
Quote of the day:
“Progress begins the moment systems replace shortcuts, and accountability becomes the standard.”
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