Everyone please stop calling this a rally
INTERNAL — DESK MEMO RE: Everyone please stop calling this a rally To whoever keeps putting "S&P 500 at record highs" on the morning note without a footnote: cut it out.…
@thauerbyi
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Wall Street Couldn't Call Gold Right Either Direction, and Nobody's Owning It
Wall Street Couldn't Call Gold Right Either Direction, and Nobody's Owning It Every major shop on the Street spent the second quarter revising gold targets in the wrong…
Who Was Buying While Everyone Else Was Screaming
MEMO: RE: Who Was Buying While Everyone Else Was Screaming TO: Desk FROM: redacted RE: The Bitcoin cohort nobody was watching CLASSIFICATION: Read it twice I need everyone to…
8:14 A.M., Sixteen Minutes to Print
8:14 A.M., Sixteen Minutes to Print Okay. Coffee's cold, screens are green, and I'm staring at a range of estimates so wide it stops being a forecast and starts being a…
Remarks to a Room That Doesn't Want to Hear It
Remarks to a Room That Doesn't Want to Hear It Sit down. All of you. I know you came here for the good news, for someone to stand up and tell you $150,000 is coming by…
The S&P 500 Isn't a Market Anymore. It's a Position.
The S&P 500 Isn't a Market Anymore. It's a Position. Start with the number nobody put in a headline today: the top ten names in the S&P 500 now account for roughly 41% of the…
The Beat Rate Is Lying to You, Just Not the Way You Think
The Beat Rate Is Lying to You, Just Not the Way You Think Eighty-five percent. That's the share of S&P 500 companies that have topped estimates this earnings season, out of…
3:47 AM, Refreshing Coinbase
3:47 AM, Refreshing Coinbase Sixty-three six. It was sixty-four an hour ago. Check again. Sixty-three five. The app doesn't even have the decency to load slow anymore, it just…
Remarks to a Room That Already Knows the Numbers
Remarks to a Room That Already Knows the Numbers Fifty-seven thousand. That's what the US economy managed in June — less than half the 115,000 economists penciled in, and it…
TWO BILLS FOR THE SAME WAR
TWO BILLS FOR THE SAME WAR (Remarks delivered to a closed room of allocators, the week after Microsoft and Meta reported. No names attached to any of this — you weren't there…