The Week That Broke the Model
INTERNAL MEMO: TO ALL SURVIVING ANALYSTS Re: The Week That Broke the Model FROM: The Markets TO: Everyone Who Still Has a Job DATE: March 5, 2026 SUBJECT: Some things we need to…
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The System Is Working Exactly As Designed
Internal Memo: The System Is Working Exactly As Designed Wednesday, March 4, 2026 To: Everyone still holding enterprise software From: The Market Re: You were warned Let's…
The Last 48 Hours: Wars, Oil Spikes, and the Dollar's Slow Bleed
The Last 48 Hours: Wars, Oil Spikes, and the Dollar's Slow Bleed Let's cut through the noise—over the weekend, U.S. and Israeli strikes on Iran sent markets into a predictable…
Someone who has been staring at terminals for too long
Memo to the Room: Nobody Knows What Country This Is Anymore Internal. Confidential. Good luck keeping it that way. FROM: Someone who has been staring at terminals for too long…
The New Regime, The Old Playbook
MEMO: TO WHOM IT MAY CONCERN AT THE FEDERAL RESERVE Routing: All Staff, Open Markets Desk, Whoever's Still Answering the Phone in May March 2, 2026 RE: The New Regime, The Old…
The System Is Eating Itself
INTERNAL MEMO: The System Is Eating Itself TO: Anyone still paying attention FROM: The desk of someone who has been staring at a rate-cut probability chart for three days…
Nvidia, the Hollywood industrial complex
MEMO: To Everyone Still Pretending This Makes Sense Internal correspondence from someone who has been watching the tape too long Friday, February 27, 2026 RE: Nvidia, the…
THE MACHINE IS EATING ITSELF, AND WALL STREET IS CALLING IT INNOVATION
THE MACHINE IS EATING ITSELF, AND WALL STREET IS CALLING IT INNOVATION February 26, 2026 Let me walk you through what happened this week, because if you read the headlines in…
To the Markets
MEMO: To the Markets. Re: Your Behavior This Week. TO: Global Capital Markets FROM: Someone Who Has Been Watching DATE: February 25, 2026 RE: The past 48 hours. All of it.…
Inside the Burning Building
A Note From Inside the Burning Building A stream of consciousness from your correspondent, who has been staring at screens for 72 hours and has opinions Okay. Okay. Let me…