Ed Borgato

Just checking in on you guys.

"We don't really get caught up with what other people are doing." -- WB describing his and Charlie's edge.

Capturing the full economics over time of a good idea is so much harder than finding a good idea.

Fintwit archive, 2013.

Little did he know...

Fintwit archive, 2019.

Fintwit archive, 2017.

Intensity is overrated; consistency, underrated.

Happy Super Bowl Day 🏈.

The Super Bowl is a great American secular holiday. It’s one of the few cultural events we all do together.

Those who want us worked up over who entertains at halftime are playing the country for fools. Not every trivial aspect of life need be political.

Have fun today.

When you've been around markets for this long, it's hard not to feel some regret over the cost of wasting time, effort, and stress over things that didn't matter. Slowly, I got smarter, and yet, school is never out.

<---- Remembers DOW 1950.

Kindness, or at a minimum, basic decency, is a component of character. One has those things, or they do not.

Given enough time, whether someone has or doesn't have good character becomes a less interesting question than why so many people can't tell, or don't care.

$BTC's existence proved the computer science of a decentralized digital ledger, even if the $BTC itself was no more than a speculative instrument, a vehicle for acquiring USD (nothing more). That was the point. The story/mania/mythology of $BTC tested the ledger. The tech has utility; $BTC does not.

On top of all this, $BTC is most certainly losing share to stablecoins for both criminal and legitimate foreign transfers. Volatility has been tolerated as a privacy tax, but with USD-backed stablecoins available, why use $BTC at all?

Serious Q: At what price in $BTC does the fixed costs of mining/processing transactions no longer pencil? In theory, could the entire ledger network just shut down because it's uneconomic to keep running?

If I'm missing something, thanks in advance for explaining it to me.

Ken Griffin Says CEOs Find Trump’s Interference ‘Distasteful’ The billionaire Citadel founder hinted he could run for political office or work in government in the future.

Griffin is saying it, and everyone knows he's right. Whatever criticisms one may have of past administrations (I have mine), there is no modern analog to the levels of statism and self-dealing of the past year. It's unserious to pretend otherwise, much less defend it.

www.wsj.com/business/ken...

Munger: "The point of getting rich is so you don't have to work with people you don't like or get along with people you don't want to."

Fintwit archive, 2018.

Opinion | The Message From Texas Voters: We’re Neighbors, Not Enemies

Good read:

www.nytimes.com/2026/02/02/o...

Fintwit archive, 2016.

Silver looks like it's restating past numbers, suspending the dividend, and investigating accounting irregularities.

How to invest and how to live are basically the same.

1. Identify what matters.

2. Give no attention to anything that isn't that.

Fintwit archive, 2015.

Fintwit archive, 2019.

Fintwit archive, 2017.

"The presidency is preeminently a place of moral leadership."

-- FDR.