‘Over the past three years, Berkshire has sold about $184bn of stock taking the conglomerate’s cash reserves to a record $382bn.’ www.ft.com/content/bfaa...

MELIUS: “The reality is .. confidence in future employment has come down, particularly for new entrants to the labor force.

“.. with the most announced job cuts since 2020 on top of an already lackluster employment situation, the top decile can only hold up discretionary spending for so long ..”

BTIG: “.. S&P 500 hit an all-time high on Wednesday, yet 33% of its components are down 20% or more from their 52-wk high, and 24% are within 10% of a 52-wk low ..

“.. Divergences continue to mount .. last Thursday, 9% of the SPX hit a 52-wk low ..”

Back to back Hindenburg Omens. 👇🏼

AI Is the Bubble to Burst Them All I talked to the scholars who literally wrote the book on tech bubbles—and applied their test.

‘AI may not simply be “a bubble,” or even an enormous bubble. It may be the ultimate bubble. What you might cook up in a lab if your aim was to engineer the Platonic ideal of a tech bubble. One bubble to burst them all.‘ www.wired.com/story/ai-bub...

“There is a major shock to retail and the economy coming … it’s just masked right now because we are selling older inventory, and trying to hold prices for holiday.” www.bloomberg.com/opinion/news...

It was a blast!

What GPU pricing can tell us about how the AI bubble will pop Rental health awareness

‘One odd thing about AI equipment is that it’s very expensive to buy and very cheap to rent.‘ www.ft.com/content/d497...

Trump does draw the biggest crowds #Philly

2 years ago: “The left is attacking fee speech”

Present: “All civilians must abide by the state and only the state.”

Opinion | Broken Windows at the White House Republicans need to address signs of disorder for their own good and the good of the country.

PEGGY NOONAN: “.. Trump-branded apartment towers are going up in Saudi Arabia.” A Trump Organization golf course “is going up” in Qatar. A UAE fund “invested $2 billion in a Trump-affiliated crypto firm ..”

“There’s so much money sloshing through the pipes of this White House.”

@wsj.com

'Earnings-revision momentum sits at minus 38.5%. This represents a break below November 2022’s minus 38.2% reading, and suggests the EPS outlook for stocks is weakening for more companies than strengthening.' www.bloomberg.com/professional...

m’kay pum’kin

Here’s another massive gap between hard data and soft data. 👇🏼

The inevitable narrowing of these gaps is going to be interesting.

This is what a rigged economy looks like:

In the 1970s, CEOs made 27 times more than the average worker.

In the 1980s, CEOs made 48 times more than the average worker.

This decade, CEOs are making 354 times more than the average worker.

That has got to change.

Tesla missed Q1 operating profit estimates by 54% and EPS by 30%. Without $595M in regulatory credit sales (and more in US IRA subsidies), Tesla would've generated a loss in Q1.

It's safe to say, Tesla is now the least profitable carmaker among the top 16 volume producers of the world.

Trump tariffs: DHL suspends high value US deliveries The postal giant will stop shipping packages to American consumers after a rise in red tape at customs.

www.bbc.com/news/article...

I try so hard to create awareness of current risks, regardless of what risks are present.

The post and the chart below makes me feel like I’m shoveling shit uphill. 👇🏼

Retail investors are going to get absolutely wrecked. The term ‘bagholder’ is very appropriate.

Harvard has set an example for other higher-ed institutions - rejecting an unlawful and ham-handed attempt to stifle academic freedom, while taking steps to make sure students can benefit from an environment of intellectual inquiry, rigorous debate and mutual respect. Let’s hope others follow suit.

I don’t think a better headline could have been written about what happened yesterday.

www.rollingstone.com/politics/pol...

Bernie Sanders has been delivering the same message for 40 years and it’s resonated with the American people. Let the pendulum swing further to the left and drag the rest kicking and screaming.

We traded Europe for a guy that builds concentration camps for profit.

> @samsteindc.bsky.social

🤡🤡🤡

Just our luck. America gets it first dictator and he's not even a good one.