Great line Peter Berezin "If the ADP is not a reliable guide to the government’s payrolls estimates, maybe that is because the government’s payroll estimates are not a reliable guide to actual payrolls."

I agree with this view.

Give them H1B visas…

Since we're talking about DST (I agree, get rid of it) I have a radical proposal: We should switch to only having 2 time zones in the continental US Merge PT & MT into 1 time zone (move PT forward 1 hr) Merge ET & CT into 1 time zone (move ET back 1 hr) Wouldn't it be so much

The opportunity for active management.

Important distinctions 👇- not all equities are the same. US large cap (mainly big tech) is an unusual beast that combines high profitability, durable competitive advantages, strong growth, and, in some cases, attractive valuations. Passive allocations to $SPY etc are just along

Goal for '25 and beyond.

Good guidance for people building boutique advisory businesses (advisory across a broad range of legal, accounting, consulting, financial planning, investment management, and others too).

1³ + 2³ + 3³ + 4³ + 5³ + 6³ + 7³ + 8³ + 9³ = (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 +9)² = 2025

Rev Cap Pythia Capital, No Brainer Yep. The quality quality quality and never sell strategy worked very well for a decade or so, but now it’s much better to reduce the quality threshold in favor of getting more growth and/or better value. That flexibility means one can own NVDA and other AI names for their growth

Hugely important chart that countries don’t want to be at the top of. Housing is great, but it doesn’t lead to compounding economic growth; Canada and NZ need to change course.

omg…….

Good article. Litmus test is the 10y yield. If it falls then this thesis holds. But if it rises (due to fixed income repatriation) then Trump will pivot ASAP.

Keep it simple. This is justified, and needed.

3min later - Jason Goepfert takes an early lead Wayne Whaley

Steven Pinker injects some facts and much-needed sanity in the debates around Harvard and American academia. nytimes.com/2025/05/23/opi…

Insightful comments from Warren Pies below. My 2c is that the P/E of the equal-weight S&P isn't far from normal, so there's no need to worry about the market's valuation. Just invest in good businesses at good prices.

Agree with this. High road or low road, it is a painful world in between!

Good advice for anyone earlier in their investing careers.