Wonder what is gonna happen when the boomers realize that at the bottom of the barrel in their pensions/ life insurance and retirement portfolios of illiquid trash that was purchased in the ZIRP era and hasn’t been marked to market.

Reminds me of the Myst books (they are very good and you should). The Book of Atrus is one of my all-time favorite books.

IYKYK

Just as Benjamin Graham taught us…

Ideas and economic prosperity flourish together. The soil of a healthy society is fertile ground for both. If one of those two is suffering then you can be certain the other is too.

When Warren Buffett starts to noticeably underperform the market for long periods of time, it is time to think about taking some profits…

😢 RIP

This seems like an appropriate to highlight this gem I just rediscovered

If a banking client comes to his bank and says hey I want to borrow some cash to buy some Risky asset or a treasury note The bank says sure as long as you leave the risky asset in your account with us as collateral we are happy to do that. The bank facilitates the transaction

Surely you listened anon… Surely you didn’t round trip all your profits again…

The four horsemen of AI slopcalypse are monetary ragebait incentives, infinite dopamicontent production, algorithmic amplification of all of it, and the death of discernment

The amount of people dancing on the grave of bitcoin in my feed right now tells me it is probably getting to an attractive level…

How else are you supposed to privatize gains and socialize the losses?

They are begging for a rate cut - they are about to get a catastrophic collateral crisis📢🎯 Equity markets have corrected sharply since 21 November, when the New York Fed President hinted at a monetary policy pivot. The probability of a Fed rate cut this evening has surged from

$MOVE looking like it wants to run it back turbo. #MAKECOLLATERALSCARCITYGREATAGAIN

$DXY hasn’t made a new low since June 25’

We are not a serious country…

Fed is rarely misaligned with government leadership. So most of the time an independent Fed doesn't matter. On rare occasions it matters a great deal.

Collateralized Cheese Obligations.

CZ pulling one out of the Arthur Hayes Playbook