Good lord, this market feels like $VIX 10 not $VIX 17 It is absolutely DEAD

breaking bad but instead of cancer he just knows he only has 2 years to accumulate capital and escape being part of the permanent underclass

Anyways I'm going to go punch the bag until I can't lift my arms. Have a great weekend everybody

Neil Dutta RenMac: Renaissance Macro Research on the jobs report: - neg 95k in revisions is significant - gains in acyclical industries - worst breadth in a year - household unemployment rising - “yeah I’m worried” - deteriorating at the margins Fed getting a false sense of complacency

Juice grooves on a cutting board = greatest invention since sliced bread

It’s wild that technology has enabled us to build AI but we still can’t make a printer that works

"mArKeTs ArE pRiCiNg A rEcEsSiOn"

I've never seen equity "investors" assign >$20B in market cap to this many companies that are total junk. No better sign that people have lost all appreciation for the value of a dollar.

The longer the forecast the lower the accuracy.

Why do I feel like such a radical for being moderate?

Investor positioning by sector Find it interesting that the more crowded areas continue to be defensives & tech, while cyclicals still lag... even compared to 1m ago

Systematics are very much in charge. The street is well-supplied with gamma so every minor dip gets bought & markets drift higher. Investors otherwise don't have much conviction. Positioning is rotating today out of momentum/consensus-longs and into value/under-owned names

The most dangerous words in investing are “it’s never happened before”