Профиль

“Don’t paint any more religious pictures, please.” I thought Iran might make the Gulf like New Jersey, where it’s free to enter but you always have to pay a toll to leave.

TSLA has long been the most widely owned U.S. stock among South Korean retail investors. Getting flushed.

Semis try to bounce off their first contact with the 100-day moving average in nearly four months. Pretty symmetrical stampede higher and lower since early May. Enough for now?

Members of the Silent Generation are between 80 and 98 years old. They've seen just about enough of all this.

Tech's contribution to GDP growth under the AI binge rivals the '90s Internet buildout. Yet fiscal trends (remember the '90s "peace dividend" and DC gridlock thwarting spending?), the aging population and rising tariffs/trade barriers today leave less room for a disinflationary productivity surge.

Fed Chair Warsh has invoked a tech-productivity miracle as cover to keep rates low, invoking the '90s Greenspan era. Yet much more than tech drove the '90s disinflationary boom: Fiscal conditions, demographics and globalization all helped. These are all pushing the other direction now. New column.

Right but I'm not sure that's any different than how they were structured the last time. Easier to short, more inherent leverage, 24/5. Meh.

yes of course

"There are guys you can hit and there's guys you can't. Now, that's not quite a guy you can't hit, but it's almost a guy you can't hit..."

Sure, makes sense. But because everything is about New York, I see it as him verifying that the Knicks dragged the league's attentional center to Acela America.

He knows if you haven't ever won the Atlantic division, you haven't won anything.

I had no doubt

Are the Mets hitters aware that their stick season was suposed to start over three months ago?

MS more than GS, but definitely. MS was closely tied to the Nasdaq IPO machine as you know, GS was newly public in 1999, more dominated by FICC.

The fun part is they both think they’re the Yankees.

The 7- and 10-year performance from that date were pretty lousy. Over longer time horizons things almost always level out.

Exchanges started quoting stocks in decimals in 2000.

Back in the days before smartphones, when people had to stand on city streets and look up at buldings to get their news. The Dow's annualized total return since then has been about 10%, just as I (probably) said it would be...

I'm not calling anything, simply saying that the profit aggregates are getting massive and leave open the chance that companies are over-earning or the market will refuse to capitalize further growth as generously.