Follow
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
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
The Calamos Dynamic Convertible and Income Fund (CCD) looks particularly interesting right now. CCD is a closed-end fund managed by the convertible bond specialists at Calamos Investments, yielding approximately 10.3% through monthly distributions, explains Michael Gayed, editor of The Lead-Lag Report.
Michael Gayed
BONDS
Tickers: CCD
Global markets opened the year with a tone of cautious confidence. Equity indices, however, tell only part of the story. Major benchmarks have been largely flat, masking a pronounced internal rotation, notes Michael Gayed, editor of The Lead-Lag Report.
Michael Gayed
TRADING
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
30:28