Paper straws were the current thing for about 5 minutes based on a totally fake study by a 9 year old in 2011. Now I get to suck on wood pulp with my iced tea every morning, 11 years later. The kid is now 20, I hope he only wears clothes made out of paper. reason.com/2018/01/25/cal…

"My partner Charlie Munger says there is only three ways a smart person can go broke: liquor, ladies and leverage" --- Warren Buffett

Morning Note: -Selloff extends into sixth week -US 5-yr yield highest since '08 -DXY is the highest since 2002

The biggest buyers of U.S. Treasuries are the Fed, Japanese and Chinese, who all aren't adding to their holdings right now. Until they start buying, "everyone that is saying buy the dip are a collectively not much bigger than a rounding error:" Jim Bianco

Blaming monetary policy risk for the fall of the asset you touted as the answer to monetary policy risk is peak maxi. #bitcoin

Stick with the same movements for weeks and weeks or months and months. That’s how you measure real progress. Been doing DB Presses while my shoulder heals, and after 2+ months, feeling real good.

We are aware of a recent story that suggested Gemini made a 100K BTC loan to large institutional counter-parties that reportedly resulted in a selloff in $LUNA. Gemini made no such loan.

$QQQ down $SPY down $VIX down ...a great example that while market prices and market volatility share a consistently inverse relationship, that relationship isn't 100% reliable. They are their own entity, free to move wherever the market takes them.

Carnage so far in 2022 Netflix -72.4% = worst year on record Facebook -43.9% = worst on record Amazon -36.8% = worst since '08 Tesla -30.5% = worst on record Microsoft -22.5% = worst since '08 Google -21.6% = worst since '08 Apple -17.5% = worst since '08

This is what we all need to remember.

$LUNA price on FTX is currently $0.00003250. Seven days ago it was trading at $82.50

"The Fed is trying to thread a needle, wearing oven mitts, blind folded" Megan Greene

$LUNA founder Do Kwon is reportedly considering restoring a snapshot of the $LUNA blockchain prior to attack

Slide decks hide can shallow thinking. Narratively structured memos are harder to write because they require better thinking. It’s worth it.

The only remaining stablecoin

You can change the whole trajectory of your week by getting a training session in early Monday morning.

Elon Musk: "I will NOT pay $44 billion for your company! It's defective, and I demand a discount NOW!"