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About Michael
Michael A. Gayed is a portfolio manager and author of five award-winning research papers on market anomalies and investing. He has a BS with a double major in finance and management from NYU Stern School of Business and is a CFA charterholder. Mr. Gayed is the publisher of The Lead-Lag Report, focused on helping investors outperform in all market conditions. It offers a tactical, data-driven approach to investing to achieve long-term success even in the face of uncertainty. With increasing market volatility, it's essential to understand risk-on/risk-off signals, seize high-yield opportunities, and leverage award-winning research to maximize returns.
Michael's Articles
There is a difference between an index that is earning its keep and an index that has a few names doing the work while everyone congratulates the whole roster. The headline number does not tell you which one you own. You have to take it apart, writes Michael Gayed, editor of The Lead-Lag Report.
Michael Gayed
TECHNOLOGY
Defensive rotation was the trade last week. Health care, utilities, staples, and long-duration Treasuries all printed Extreme positive signals, while technology printed an Extreme negative signal — and credit confirmed it. Plus, cross-asset confluence was unusually high, writes Michael Gayed, editor of The Lead-Lag Report.
Michael Gayed
HEALTHCARE
The S&P 500 Index (^SPX) rally from March lows has been remarkable — 12% in under a month — and the earnings backdrop is supportive with 78% of reporters beating estimates. My trading framework reads 3-1 Risk-On this week, leaning offensive but no longer unanimous, notes Michael Gayed, editor of The Lead-Lag Report.
Michael Gayed
TRADING
The State Street Utilities Select Sector SPDR ETF (XLU) is the only shelter that’s actually working. Utilities extended their remarkable 2026 run with the XLU/State Street SPDR S&P 500 ETF (SPY) ratio climbing another 11.3% over three months, explains Michael Gayed, editor of The Lead-Lag Report.
Michael Gayed
TRADING
Tickers: SPX
Michael's Videos
It's a new year, but investors still face many of the same old problems. A Federal Reserve that's hiking interest rates. An economy that's weakening. And a market that doesn't know which way to turn. Join Michael Gayed, portfolio manager at Toroso Investments, and Mike Larson, editor-in-chief at MoneyShow, for this lively discussion on what's coming next—and how you can capitalize.
Michael Gayed
MARKETS
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