The richest man on earth owns X. The second richest man on earth is about to be a major owner of TikTok. The third richest man owns Facebook, Instagram, and WhatsApp. The fourth richest man owns The Washington Post. See the problem here?

P/E for 50 largest names in S&P 500 has surged this year … from a low of 23 to 31.9 now

IMF data, cited by Apollo’s Torsten Slok, shows that “the share of euros in global FX reserves is not going up and remains low at 20%” (please see chart below). In other words, the euro has not benefited from concerns in some parts of the world about the dollar—concerns that have

Howard Marks' two rules on market cycles: 1. Most things will be cyclical 2. The best investment opportunities arise when other investors forget the first rule The best investors will take advantage of this cycle and invest at maximum pessimism

We used to care about valuation multiples for our investments

Breaking: Jobless claims 218k vs 235k exp. Hot 🔥 Q2 real GDP: 3.8% vs 3.3% expectations. Hot 🔥🔥 PCE: 2.6% vs 2.5% Yields are ripping higher Stocks remain red

The economy is running hot. Why are we cutting rates again?

Why are boomers buying half the homes at age 60? Like what the hell for? Go grab a condo somewhere. Crazy

Fannie Mae on if we want affordable homes again: 1. Prices must crash by -38%, or: 2. Incomes must rise by +60%, or: 3. Mortgage rates must crash by -415 bps For any of these 3 things, something massive would have to happen to the macroeconomy. How did we end up here?

Did you know? Nvidia CEO Jensen Huang sold $40.2 million in company stock over three days—right when Nvidia announced a huge $100 billion deal with OpenAI.

"Tariff trade policy and restrictive immigration policy are weighing heavily on the economy and lifting inflation," per Mark Zandi of Moody's.

BREAKING: US M2 money supply surged another +4.8% YoY in August 2025 to a record $22.2 trillion. This marks the fastest pace since July 2022, in-line with a +4.8% YoY increase in the prior month. US money supply has now grown for 18 consecutive months. Furthermore,

Internet boom → AI boom 1998 rate cuts →2025 rate cut(s) "Irrational exuberance"→"Stocks fairly highly valued" 44 Shiller PE →40 Shiller PE See the parallels?

BREAKING: Trump announces tariffs on foreign trucks

Will History Repeat Itself? AI Bubble vs the Dot Com Bubble So far the rise has been remarkably similar 😳

Oh great Police won't do anything and security guards aren't allowed to (they'll get fired / sued by criminals) So we're going to have creepy private drones instead 🤣 Gonna have Black Mirror bee 🐝 drones?

Room for rate cuts? Seems like it's open to interpretation. Inflation leveling off near 3% is well above target, but some will argue it's close enough.

As a Moderate Party (long live the purple dodo 🟣 🦤) I must now equally mock Liberals 🫏 (Since I've mocked Banana Republicans 🍌🐘 a bit lately) Gotta tell you Gavin Newsom is the worst. Does this dude purposely look like a serial killer? Ya, he must. Rolled past Oak town