An oldie, but a goodie. How long has it been since you’ve heard “wet market”?

In reference to my note on how much younger Wall St used to be. Absolutely. Tech in 1990s was engineers. Tech in 2010s was increasingly finance bros going into VC, 'growth equity' and crypto. Wall St post-2011 has been largely net negative growth (and hence aging).

One of the most important takeaways from this story is how much youth dominated 1990s finance. Andy would have been 31 at the time. His boss likely 35. Today, add 10-15 years to those titles.

Know thine enemy! Not picking on this individual responding to my thread on China, but it’s illustrative of American perspective. Xi is the leader of the 2nd largest country (by population and GDP) in the world. All 452 pages of Xi Jinping thought have been available to read in…

It makes very very sad to see this, but just a reminder… “What if China never reopens?”

Shouldn’t be too hard. Fwiw, I increased spending on children, nutrition, energy and defense (even though the last two are a waste)

Have a voice in your government! us.abalancingact.com/2023-federal-b…

Just wanted to say thank you, FinTwit.

Harley adding to the evidence of rigid allocation impacts

Finally! Canada realizes it needs private sector leadership instead of publik diktats /s

Bullish, bearish, or 🤷‍♂️?

You’re doing a heck of a job reining in speculative financial activity, Jerome…

Agree

$32B to $60B over 7 years is 9% a year. Nasdaq 100 returned 19.2% a year over the same holding period. SOX up 23% a year, but 'ARM fared better than the broader chip industry.'

Ahh, the narratives...

It's almost the inverse Cramer... he doesn't want to own bonds down 50%? Surprise, surprise, surprise!

Bloomberg article out today noting record period of inversion in 3m vs 10y. Note that BEFORE that prior record ended, the Fed had ALREADY cut 1000 bps. Sins of the Father indeed...

Last chance to register! Don’t miss famed economist William White C.D. Howe Institute today at 4:30 PM ET as he joins Michael Green and ConvexityMaven for a near future discussion. Register here: bit.ly/3DzBcIj

Who could have seen this coming? (readers of YIGAF, that's who). Doesn't really mesh with the 'fiscal dominance' theory, does it?

Mrs. Plum, I swear I am not married to all of these women. Where would I find the time to to think about the Roman Empire (hourly) if I were?

It's actually slightly worse than this. Due to methodology differences, you need to SUBTRACT 1% from Zillow Obs Rent to get to comparable shelter in CPI. Suggests Jeremy Schwartz is high in his estimate by about 40bps.