The Chart That Won't Stop Lying to You
The Chart That Won't Stop Lying to You Friday afternoon you're watching the Russell 2000 get absolutely demolished. Down 50 points at close, bad vibes, regional bank selloff…
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The Magnificent Mess: A Portfolio Manager's Fever Dream Before Wednesday
The Magnificent Mess: A Portfolio Manager's Fever Dream Before Wednesday 2:47 AM. Cold brew #4. Why am I awake. The Fed meets in 36 hours and I cannot explain what I'm feeling…
A Dispatch From the Edge of the Yield Curve
A Dispatch From the Edge of the Yield Curve TO: Portfolio Managers, Risk Officers, Concerned Subscribers FROM: The Markets Correspondent DATE: Friday, 6:47 PM EST RE: What…
The Great Contradiction Festival: Markets Are Screaming Two Truths at Once
The Great Contradiction Festival: Markets Are Screaming Two Truths at Once We hit a threshold this week that feels worth naming. Not because it's pretty, but because it's…
BitGo and the Illusion of Crypto Legitimacy
BitGo and the Illusion of Crypto Legitimacy BitGo priced at $18, opened at $22.43, and by close had settled into the $20 range. The headline was clean: 2026's first crypto IPO.…
The Netflix Earnings Report Nobody Wanted to See
The Netflix Earnings Report Nobody Wanted to See The stock dropped 6.8% after hours on Tuesday like someone found out their dream job just got eliminated. Which, in a way, is…
When Empires Rewrite the Rules: Reading the Davos Signal in Real Time
When Empires Rewrite the Rules: Reading the Davos Signal in Real Time History doesn't repeat, but markets price as if it does. And sometimes they get it wrong until they get it…
The Dual Crisis: When Monetary Independence Collides With Trade Chaos
The Dual Crisis: When Monetary Independence Collides With Trade Chaos The past 48 hours have crystallized something that will define 2026: the American institutional system is…
When Empires Squeeze
When Empires Squeeze The thing about reading history is that you start to notice the patterns arrive before the violence does. The rhetoric hardens. The threats become specific.…
The Shutdown Gamble: Why Congress is Pricing Chaos at 30 Cents
The Shutdown Gamble: Why Congress is Pricing Chaos at 30 Cents Markets don't fear government closures anymore. They price them. Last January 30th is a Saturday. That…