Editor's note: As we wrap up 2025, we're looking back at some of our favorite essays in Altimetry Daily Authority.
Over the next several days, we'll revisit some top picks from Altimetry founder Joel Litman and Director of Research Rob Spivey.
To start, we're featuring a September 25 story about a 1960s-era New York deli... and a lesson that's still relevant to your portfolio today...
If you could banter with the waiters, you had a good chance of nailing your standup gig...
Located in the heart of Broadway, Lindy's delicatessen was a mainstay for up-and-coming talent... particularly in New York's comedy scene.
Legends spanning from the Marx Brothers to Alan King frequented the famed establishment. King even said hanging out at Lindy's was part of what it took to make it big.
So many comics came to the diner that the waiters got in on the fun. They gained a reputation for being sarcastic with customers... and even trying to "out funny" the comics.
Keeping up with the waiters became a sort of litmus test for early success.
But it didn't guarantee you a long career. For that, we turn to Albert Goldman...
Goldman was a historian who documented the lives of some of the world's biggest celebrities...
He also spent some time studying the New York comedy scene.
And in a 1964 piece for the New Republic, he profiled the "bald-headed, cigar-chomping know-it-alls who foregather every night at Lindy's."
According to Goldman, comics who were lucky enough to earn a weekly or monthly TV slot weren't long for the scene. Since they only had a finite number of jokes, they would use up their material fast.
And that was it for their television life spans.
Instead, he suggested comics confine themselves to a few special appearances (among other considerations).
Goldman dubbed his rule "Lindy's Law." The idea soon spread like wildfire.
And eventually, it was even picked up by the financial world...
Renowned trader and market philosopher Nassim Taleb added his own spin on Lindy's Law. He coined it "the Lindy Effect."
Taleb posited that for durable goods – things like concepts or technologies – you can infer the good's expected life span based on its current longevity.
If a Broadway show survives one week, it will probably survive another. If it survives five years, it's almost guaranteed to survive another five.
And the Lindy Effect extends far beyond showbiz... to the rest of the business world. The longer a company or technology has survived, the more likely it'll stick around in the future.
Tech innovator IBM, for example, has been around since 1911. It will likely exist in some form for a long time to come.
Folks, when it comes down to it... the Lindy Effect is just another way to describe one of the market's most powerful forces...
I'm talking about momentum.
Researchers have been studying stock momentum for decades. They've found that a stock's past performance is one of the best indicators of future performance.
And if you add in strong, growing profits – you've got a recipe for success.
This is the guiding principle behind my newest monthly advisory... Breakout Profits. We're focused on companies that have already produced impressive results.
They've doubled since the beginning of today's raging bull market. And that simple fact significantly increases the odds that they'll double again.
Through Breakout Profits, I believe I've unlocked the key to finding the next wave of potential doubles.
We just launched this service a few months ago. And I'm excited to see where it takes us in 2026. So as a special holiday gift, I'm reopening my "Charter Membership" offer for a limited time only.
Click here to learn more about Breakout Profits – and how to join for 50% off the regular price.
This isn't the time to sit on the sidelines. Today's market is backed by some serious momentum. The next double could be right around the corner.
Regards,
Joel Litman
December 26, 2025
