Bancroft Sutherland

Every day in the market now is Shirley Jackson's The Lottery, with different industries being drawn at random to be stoned to death on AI disruption narratives.

Wonder how many vacant CBD office properties we could have converted to residential with $38.3 billion in tax credit incentives.

We have reached the Hans Moleman, Fund Manager stage of the cycle.

Was there a prediction market for this timing, and if not why not?

[wins silver]

I stole the Lindbergh baby

Great articulation of the human element that runs completely counter to the push to automate all work. Between that aspect and the problematic fact that automating all work would seemingly annihilate their own potential customer base, you’d think the industry would alter its pitch, but alas.

100% agree. Figure pre market today is just odd with an unusual macro data release regardless, but very curious how today plays out / which random industry gets its turn to tank on AI fears, etc.

Need to swing by Cabela's and see if they carry camo radiation suits.

Chalking it up to weird inflation Friday

May I introduce you to the richest person in the world?

It does make you wonder what the risk sections of their S-1’s will look like. “Our service is so effective that it may immediately render our customers’ businesses obsolete, in which case they would cease being our customers.”

Ok, hyperscalers selling off on AI capex budgets.

Meanwhile, crushed on AI disruption threats: software, legal services, data providers, EdTech, creative tools, mgmt consulting, call centers…

The thesis behind this technology presumably accrues value somewhere beyond just the hardware, right?

Seems like everyone’s just about ready to rotate back to public credit?

Finally someone addressing the problematic lack of supply in the high yield market.

With half a percent to spare

Add that he’d be beloved by boomers, and that he and Martha Stewart would be a duo but only one of them would have done a stretch in federal prison.

New YTD low on the 10yr

I want to know if there is any correlation between the timing of interesting live Olympic events and periods of stock market drift

If you exclude ages 0-18, people get shorter as they grow up

FTC Warns Apple of Potential Federal Law Violation Regarding Apple News The letter from FTC Chairman Andrew Ferguson cited reports that Apple News promoted news articles from left-wing news outlets and suppressed news articles from more conservative publications.

They're calling it the dumbest catalyst for a $200 billion market cap move of all time.

$IGV awfully close to last Thursday's close low.

Silver intraday price chart

Seems generally not great when metals can move 7% in minutes out of nowhere.

One thing to watch is recent attribution - particularly w/in small cap, the miners have had a meaningful impact. Which has been great, but can obviously cut both ways.

A couple intl small cap value ETFs up 70% since start of ‘25. Been a pretty wild rotation that’s worked very well.

DMexUS up 9% and EM up 12.5%. S&P500 up 1.50%.

Staying OW exUS has been a very good allocation decision.

Bondi Spars With Lawmakers on Epstein, Targeting Trump Foes

It is as if they administered some sort of bastardized Meyers-Briggs personality test to potential cabinet picks, specifically screening for elite petulance.

www.bloomberg.com/news/article...

A NGHT WITH THE BUCCO'S Why the apostrophe? No one knows.

Figured this could not be a one-off and was not disappointed. They are like IRL Cameo, with choice of appetizer and entree.

What do we want? Hi-res gifs
When do we want it? ~ 2019

particularly since the reporting on and conclusions drawn from surveys/polling rarely acknowledges that anything has changed