MORTGAGE SPREADS Fact, fiction, and hoping for better rates... In this thread I explain what awaits mortgage rates, based on a mortgage spread calculation that is more accurate than the one you probably read. 1/ 🧵

Mortgage rates do not rise or fall, instead the PRICE of rates change. The LendZen.com | No Humans, No Logins, No Hassles Index tracks the change in basis points based on MBS. 9/24 ------ 24H: +2 ($19 per $100K) 5D: +6 ($59) 10D: +35 ($347) 30D: -112 (-$1,118) Learn more 👇 LendZen.substack.com

Here's my conversation with Daniel Ek (Daniel Ek), co-founder and CEO of Spotify (Spotify). (0:00) Reflecting on a Life-Changing Conversation (1:17) Optimizing for Impact Over Happiness (4:08) The Journey of Self-Motivation (8:58) The Importance of Trust and Relationships

A favorite segment from my convo with David Senra 1. Make for yourself first & study your own tape (David's spotify wrapped #1 listened pod is his own, LOL) 2. Repetition doesn't spoil the prayer. Besides, most people weren't paying attention anyway! Full ep below.

Crazy fun times hanging with Matt Zeigler and Cameron Dawson on Click Beta this week!

One year in. Hundreds of episodes, thousands of guests, countless printed tweets. And a gong signed by Mark Zuckerberg.

Let's just say - we came to get some book title help from Tobias Carlisle and 🥦 Jake Taylor 🎉 and... team Acquirer’s Multiple® ALWAYS DELIVERS ON TIME:

A stacked lineup. Even better conversations. 🎧 Overheard at The Return Stacking Symposium: Our recap from one of the most insightful events in alternatives. Listen here: rcmalternatives.com/2025/10/overhe… Jason C. Buck 🪳🏴‍☠️ Jeff Malec Mike Philbrick Rodrigo Gordillo Corey Hoffstein 🏴‍☠️ Dillon Pierce, CAIA

Tobias Carlisle’s new book on Buffett delivers what few can: a genuinely fresh perspective on a well-told story. An instant classic — please see Matt’s note below about our Excess Returns podcast episode with Tobias 🎧🎙️ a perfect weekend listen 👌

We might have the podcast episode of the year

h/t Brent Sullivan for including this gem in his latest on concentrated stock positions

$0 to $1 billion in 987 days. Thanks for all the support along the way.

week-over-week, gold is down like... 60bp.

The median age of first-time homebuyers (38) is now the oldest ever recorded. Here are the percentage of homebuyers under 30 in each of the top 50 metros.

A set of books/podcasts/newsletters/resources that I believe have real developmental value for aspiring traders: Books by: Agustin Lebron Andrew Mack Gappy (Giuseppe Paleologo) Euan Sinclair ʎllǝuuop ʇuǝɹq Threaded primers & topic deep-dives from; Benn Eifert 🥷🏴‍☠️ cephalopod

One French teacher changed everything for Adam Butler (Adam Butler). From D&D kid to CIO - this is about how mentors can redirect entire lives. Watch the full conversation: NEW Intentional Investor Ben Hunt

SO, this is the stuff Ben Hunt and Rusty Guinn and Matt Zeigler and a bunch of other folks have been cooking, and I think it's some of the more important work being done on understanding reality as it is, anywhere. Whether your an investor or just a human.

When people dig into return stacking, they rightfully ask is, "how tax efficient is this?" That answer depends on the structure you use. In our newest article, we explore 3 similar allocations with meaningfully different tax consequences. 👇 returnstacked.com/return-stackin…