Hot Rocks
A portfolio is, after all, a vessel. It is a container for our financial investments, and what we leave OUT of that container is every bit as importan…
Things Fall Apart (Part 1)
Part 1 of a three-part series on what it means to have a polarized electorate and a monolithic market. Today's note: the Age of Ridiculousness and the…
Why Am I Reading This Now? 05.22.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
The United States of Bed Bath & Beyond
A grown man made a wager. He lost. He made another wager. He lost again. End of story.
- Tony Soprano
This is the story of weak men and rapacious me…
Trading is a lot like Poker
With the passing of Doyle Brunson, it's a good day to compare poker to trading.
Why Am I Reading This Now? 05.15.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
A Man’s Got To Know His Limitations
I feel like Clint Eastwood has said the line “a man’s got to know his limitations” or something similar in every movie he’s ever appeared in, …
Why Am I Reading This Now? 05.08.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Why Am I Reading This Now? 05.01.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
The Exponential Boom
It’s an interesting period of time in the world of professional investing right now, where everyone is going through the old motions and observing t…
Why Am I Reading This Now? 04.24.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Why Am I Reading This Now? 04.17.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
New Notes, New Signals, Same Markets
This week we’ve got a new big note on AI, a new set of Narrative Monitors with several new signals triggered, and two new articles from the past wee…
An AI in the City of God
The City of Man always wins.
The Visigoths always sack Rome. The Vandals always sack Hippo. Augustine always dies in the siege. Bad things always hap…
Why Am I Reading This Now? 04.10.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Why Am I Reading This Now? 04.03.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Dedollarization is Not a Thing
People like to throw around the phrase “gradually, then suddenly” as a witty rejoinder to suggest a dedollarization of the world is a nonlinear pr…
Are We Having Fun Yet?
Assuming that Treasury and the Fed have stopped the immediate, fast-motion bank run at First Republic and created a reasonable firewall (and I think t…
Office Hours Recap 03/24/2023
These are the major topics and ideas we discussed during the 03/24/2023 Office Hours as well as some of the biggest takeaways. If you have something y…
Why Am I Reading This Now? 03.27.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Office Hours Recap 03/17/2023
These are the major topics and ideas we discussed during the 03/17/2023 Office Hours as well as some of the biggest takeaways. If you have something y…
Why Am I Reading This Now? 03.20.23
Recent major media stories that feel to us like they’re part of a larger narrative campaign.