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The Diff
The Large- and Small-Home Market Advantages Plus! Who Bears Ban Risk?; Carvana and Short-Selling Economics; VC; Productivity; A More Normal...
2 months ago
oftwominds-Charles...
The Problem With Money Isn't Money The Problem With Money is that it's complicated. To many minds, the solution to our core...
2 weeks ago
14
2 weeks ago
The Problem With Money is that it's complicated. To many minds, the solution to our core economic problems is to return to sound money via either the gold standard, in which gold backs all currency, or by substituting bitcoin for gold, i.e. bitcoin becomes the coin of the...
FIRE v London
Mayday for IBKR margin lending Regular readers will know what a fan I have been of margin lending from Interactive Brokers. No...
a year ago
73
a year ago
Regular readers will know what a fan I have been of margin lending from Interactive Brokers. No longer. If you’ve read my other posts (like this or this or this) on margin lending, and are interested in exploring further, make you read this post before you do. Why I used to like...
Mazdak
Open Source AI Takes Center Stage: A New Alliance Challenges Tech Giants 🤖 In a bold move to challenge the dominance of closed AI models, a new global alliance for AI open...
a year ago
73
a year ago
In a bold move to challenge the dominance of closed AI models, a new global alliance for AI open source development has emerged, firing shots at the likes of OpenAI, Google, and Anthropic. These tech giants have captured much of the AI spotlight in 2023, but the alliance believes...
Mazdak
A Brighter Outlook for Home Buyers in 2024? The Federal Reserve's recent announcement of potential interest rate cuts in 2024 has sent ripples...
a year ago
78
a year ago
The Federal Reserve's recent announcement of potential interest rate cuts in 2024 has sent ripples through the housing market, sparking both excitement and cautious optimism among prospective buyers and existing homeowners alike. While the prospect of lower mortgage rates is...
Calculated Risk
Comments on December Employment Report The headline jobs number in the December employment report was well above expectations, however,...
a month ago
27
a month ago
The headline jobs number in the December employment report was well above expectations, however, October and November payrolls were revised down by 8,000 combined.   The participation rate was unchanged, the employment population ratio increased, and the unemployment rate...
Bits about Money
A very Chicago gamble Chicago and Bally's have teamed up in an investment offering.
a month ago
Mazdak
AI Fuels Alphabet's Growth Google's parent company Alphabet is on a roll, and AI is the fuel.
4 months ago
Mazdak
Understanding Family Trusts in Canada: A Comprehensive Guide What is a Family Trust?
3 months ago
Calculated Risk
Question #9 for 2025: What will happen with house prices in 2025? Today, in the CalculatedRisk Real Estate Newsletter: Question #9 for 2025: What will happen with...
2 months ago
30
2 months ago
Today, in the CalculatedRisk Real Estate Newsletter: Question #9 for 2025: What will happen with house prices in 2025? Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of these questions concern real estate (inventory, house prices,...
Mazdak
Google's Gemini Enters the AI Arena: Ready to Take on OpenAI? Get ready for a new contender in the world of large language models (LLMs): Google's Gemini! This...
a year ago
76
a year ago
Get ready for a new contender in the world of large language models (LLMs): Google's Gemini! This powerful AI is set to shake things up, potentially rivaling big names like OpenAI and Microsoft. What's the Buzz About Gemini? Gemini comes in three flavors:
Calculated Risk
Weekly Initial Unemployment Claims Decrease to 211,000 The DOL reported: seasonally adjusted initial claims was 211,000, a decrease of 9,000 from the...
2 months ago
25
2 months ago
The DOL reported: seasonally adjusted initial claims was 211,000, a decrease of 9,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 219,000 to 220,000. The 4-week moving average was 223,250, a decrease of 3,500 from the previous...
The Rational Walk
There’s Always a Reason Enduring business models in competitive industries exist for good reasons. Dollar stores provide an...
a year ago
20
a year ago
Enduring business models in competitive industries exist for good reasons. Dollar stores provide an important option for customers chronically short on cash.
The Rational Walk
The Digest #216 Trading Berkshire, The Theban Plays, The laws of economics, Fed fairy tales, Buffett's "retirement",...
5 months ago
65
5 months ago
Trading Berkshire, The Theban Plays, The laws of economics, Fed fairy tales, Buffett's "retirement", Caro's writing process, Buffett's ground rules, Sherwin Williams, Mysterious owls
Mazdak
Canadian Real Estate Market Predictions for 2024 As we enter the year 2024, the Canadian real estate market presents a unique landscape for...
a year ago
36
a year ago
As we enter the year 2024, the Canadian real estate market presents a unique landscape for investors. While the explosive growth of recent years is likely to abate, a multitude of factors will continue to shape the market's trajectory. Understanding these factors is crucial for...
Citation Needed
The crypto industry’s debanking smokescreen Cryptocurrency companies have co-opted legitimate concerns about banking discrimination to fight...
3 weeks ago
14
3 weeks ago
Cryptocurrency companies have co-opted legitimate concerns about banking discrimination to fight regulation — and Congress is buying it
Commoncog
Business Reality Without Frameworks A paradox: why it’s important to think about business without abstractions, even as we from what’s...
4 months ago
65
4 months ago
A paradox: why it’s important to think about business without abstractions, even as we from what’s come before.
Mazdak
TikTok, Netflix, and the Future of Media: Key Insights from 2024's Biggest Winners In 2024, the global media landscape experienced monumental shifts, with platforms like TikTok and...
a month ago
24
a month ago
In 2024, the global media landscape experienced monumental shifts, with platforms like TikTok and Netflix setting unprecedented benchmarks in user engagement, ad revenue, and growth.
Musings on Markets
Data Update 5 for 2024: Profitability - The End Game for Business? In my last three posts, I looked at the macro (equity risk premiums, default spreads, risk free...
a year ago
4
a year ago
In my last three posts, I looked at the macro (equity risk premiums, default spreads, risk free rates) and micro (company risk measures) that feed into the expected returns we demand on investments, and argued that these expected returns become hurdle rates for businesses, in the...
The Rational Walk
Free Articles! All articles older than six months are now free to read.
a year ago
Mazdak
Canada's Housing Crisis: Is There a Way Out? Canada's housing market has become a national concern. Soaring prices have pushed homeownership out...
11 months ago
93
11 months ago
Canada's housing market has become a national concern. Soaring prices have pushed homeownership out of reach for many, and even renters struggle to find affordable options. The pandemic exacerbated this pre-existing crisis, highlighting the urgent need for solutions. This article...
oftwominds-Charles...
The Power of Our Behavior Why is any reduction in consumption posed in terms of unbearable sacrifice, when no sacrifices are...
a month ago
7
a month ago
Why is any reduction in consumption posed in terms of unbearable sacrifice, when no sacrifices are necessary to consequentially reduce consumption? When we think of the word power, we associate it with external forces: energy, technology, the government, etc. But our own...
Commoncog
Marvel Studios’s Origin Story The creation of Marvel Studios was contingent on some very creative financial dealmaking. A story of...
a year ago
59
a year ago
The creation of Marvel Studios was contingent on some very creative financial dealmaking. A story of superb capital expertise in action.
Calculated Risk
MBA: Mortgage Refinance Applications Increased in Weekly Survey; Purchase Applications Declined From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications...
3 weeks ago
10
3 weeks ago
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 7,...
Calculated Risk
Asking Rents Mostly Unchanged Year-over-year Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt:...
a month ago
11
a month ago
Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Another monthly update on rents. Apartment List: Asking Rent Growth -0.5% Year-over-year ... On the supply side of the rental market, our national vacancy index ticked up to 6.9...
Mazdak
The ChatGPT Revolution: A Year Later On November 30, 2022, OpenAI released ChatGPT, a large language model (LLM) that quickly captured...
a year ago
85
a year ago
On November 30, 2022, OpenAI released ChatGPT, a large language model (LLM) that quickly captured the attention of the world. ChatGPT's ability to generate human-quality text, translate languages, write different kinds of creative content, and answer questions in an informative...
The Rational Walk
Will Berkshire Hathaway Pay a Dividend? Investors have been debating the dividend question for decades. So far, shareholders have been well...
a year ago
104
a year ago
Investors have been debating the dividend question for decades. So far, shareholders have been well served by Warren Buffett's reluctance to send out dividend checks.
Commoncog
The Skill of Capital What, exactly, is the skill of capital? What does it consist of? How do you recognise it? We walk...
a year ago
127
a year ago
What, exactly, is the skill of capital? What does it consist of? How do you recognise it? We walk through three stories, and then talk about the shape of the skill in practice.
Mazdak
Tech Today - Apple Smart Home Camera Subscribe to our newsletter at Mazdak.com
3 months ago
The Rational Walk
The Digest #206 The Trust Deficit, EU Regulations, Medicare Advantage scams, Munger soldiered on, The cult of...
8 months ago
107
8 months ago
The Trust Deficit, EU Regulations, Medicare Advantage scams, Munger soldiered on, The cult of Silicon Valley, Self-esteem and outer scorecards, MMT's founder is worried about deficits
Mazdak
How Big Tech Could Lose Everything to Appease Trump In a world on the brink, Big Tech is playing a dangerous game. The 2024 US election could see Donald...
4 months ago
34
4 months ago
In a world on the brink, Big Tech is playing a dangerous game. The 2024 US election could see Donald Trump, a man who has openly attacked these companies, return to power.
Calculated Risk
BLS: CPI Increased 0.5% in January; Core CPI increased 0.4% From the BLS: The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent on a...
3 weeks ago
10
3 weeks ago
From the BLS: The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent on a seasonally adjusted basis in January, after rising 0.4 percent in December, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index...
Mazdak
The Ultimate Small Business Hiring Guide How to Find the Right Fit for Your Team
5 months ago
The Rational Walk
The Power of Investment Journals Writing down the rationale for investment decisions is a prerequisite for success. This articles...
a year ago
24
a year ago
Writing down the rationale for investment decisions is a prerequisite for success. This articles explores lessons I learned dating back to 2009.
Calculated Risk
Freddie Mac House Price Index Increased in December; Up 4.0% Year-over-year Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased in...
a month ago
17
a month ago
Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased in December; Up 4.0% Year-over-year A brief excerpt: Freddie Mac reported that its “National” Home Price Index (FMHPI) increased 0.54% month-over-month on a seasonally adjusted (SA)...
The Rational Walk
A Dangerous Interregnum President Biden's decision to allow Ukraine to fire American missiles deep into Russian territory...
3 months ago
32
3 months ago
President Biden's decision to allow Ukraine to fire American missiles deep into Russian territory risks plunging the world into crisis in the finals months of his administration.
The Rational Walk
Berkshire Hathaway’s 2023 Results — Overview This article provides a 30,000 foot overview of Berkshire Hathaway's results for 2023 with a focus...
a year ago
44
a year ago
This article provides a 30,000 foot overview of Berkshire Hathaway's results for 2023 with a focus on the components net operating earnings.
The Diff
Just Another Risk Asset Plus! SPVs; The Global Advantage; Cachet; GLP-1 Friendliness; Integrations
2 months ago
The Diff
Longreads + Open Thread Kotkin, Luttwak, Poker, DRW, PCs, Statistics, AI, Hamilton
2 months ago
Moneyness
Someone is wrong on the internet about the SWIFT network There's a chart that has been circulating for a while now on social media that shows payments...
2 months ago
5
2 months ago
There's a chart that has been circulating for a while now on social media that shows payments traffic on SWIFT, a key global financial messaging network. Below is a version from the Economist, but I've seen other versions too. Source: The Economist When banks make...
Mazdak
Google's Ad Business Under Fire in Europe Google Faces Antitrust Probe in Europe. Microsoft and OpenAI: A Partnership in Turmoil. Google Faces...
a year ago
28
a year ago
Google Faces Antitrust Probe in Europe. Microsoft and OpenAI: A Partnership in Turmoil. Google Faces Antitrust Probe in Europe The European Commission has made a formal antitrust complaint against Google and its ad business. In a preliminary opinion, the regulator says Google has...
The Diff
Longreads + Open Thread Longreads Gwern has a lengthy meditation on effort, specifically the kind of effort involved in...
a month ago
31
a month ago
Longreads Gwern has a lengthy meditation on effort, specifically the kind of effort involved in doing what was previously thought to be impossible. It's not so much a unified theory of extreme effort as it is a comprehensive refutation of the existence of such theories. There...
Calculated Risk
Final Look at Local Housing Markets in December and a Look Ahead to January Sales Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in...
a month ago
18
a month ago
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in December and a Look Ahead to January Sales A brief excerpt: After the National Association of Realtors® (NAR) releases the monthly existing home sales report, I pick up additional local...
Musings on Markets
Data Update 6 for 2025: From Macro to Micro - The Hurdle Rate Question! In the first five posts, I have looked at the macro numbers that drive global markets, from interest...
a month ago
9
a month ago
In the first five posts, I have looked at the macro numbers that drive global markets, from interest rates to risk premiums, but it is not my preferred habitat. I spend most of my time in the far less rarefied air of corporate finance and valuation, where businesses try to decide...
Calculated Risk
MBA Survey: Share of Mortgage Loans in Forbearance Increases to 0.50% in November From the MBA: Share of Mortgage Loans in Forbearance Increases to 0.50% in November The Mortgage...
2 months ago
24
2 months ago
From the MBA: Share of Mortgage Loans in Forbearance Increases to 0.50% in November The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.50% as of November 30, 2024. According to MBA’s...
The Rational Walk
What I’ve Been Reading This post is a list of books that I read in the third quarter of 2024, including Thucydides,...
5 months ago
30
5 months ago
This post is a list of books that I read in the third quarter of 2024, including Thucydides, Sophocles, Persian Fire, Hillbilly Elegy, and more.
The Rational Walk
The Magic of Compounding The magic of compounding was evident when I recently compared my lifetime gross wage income to my...
8 months ago
100
8 months ago
The magic of compounding was evident when I recently compared my lifetime gross wage income to my current net worth.
The Rational Walk
The Iliad Homer's epic poem has much to teach us about human nature if we first take the time to gain an...
11 months ago
80
11 months ago
Homer's epic poem has much to teach us about human nature if we first take the time to gain an understanding of Greek mythology.
The Rational Walk
The Digest #166 The media landscape, Dollar General's meltdown, The written word, Damodaran on Instacart, The human...
a year ago
36
a year ago
The media landscape, Dollar General's meltdown, The written word, Damodaran on Instacart, The human condition, Herb Kelleher, Merger arbitrage, and more.
The Rational Walk
The Digest #183 Daily Journal, Apple, Costco, Moody's, Munger's wisdom, Tesla's narratives, Tim Urban on writing,...
a year ago
53
a year ago
Daily Journal, Apple, Costco, Moody's, Munger's wisdom, Tesla's narratives, Tim Urban on writing, Rivian, AI's morality, AI bubble?, How James Longstreet defied the South after the war
Mazdak
Unlock the Power of Persuasion: The 4-Part Key to Getting What You Want Imagine having just one skill that could propel your business to unprecedented success.
4 months ago
Commoncog
Power and Asian Business The culmination of the Power in Business mini series. What it’s like doing business without the Rule...
3 months ago
66
3 months ago
The culmination of the Power in Business mini series. What it’s like doing business without the Rule of Law.
Citation Needed
No, Trump didn’t make $50 billion from his memecoin Journalists’ flawed math and ignorance of crypto markets turn tokens into fake fortunes
a month ago
Calculated Risk
Thursday: GDP, Unemployment Claims, Pending Home Sales Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Gross Domestic...
a month ago
15
a month ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Gross Domestic Product, 4th quarter and Year 2024 (Advance estimate). The consensus is that real GDP increased 2.6% annualized in Q4. initial weekly unemployment claims report will be released....
balajis.com
Decentralizing Education with Synthesis I'm co-leading a round in Synthesis, a startup scaling the custom school built for Elon Musk’s kids.
over a year ago
Commoncog
The Shape of a Technological Window Technological Windows is Steve Jobs's conception of the game of consumer technology. We look at how...
over a year ago
79
over a year ago
Technological Windows is Steve Jobs's conception of the game of consumer technology. We look at how he used it over the course of his career. Note: this is a follow-up to and an update for the Commoncog Case Library Beta.
Seeking Wisdom
It’s a treasure trove of health insights! Use Insulin wisely Life on Earth started simple. For nearly 2 billion years, tiny single-celled...
4 months ago
61
4 months ago
Use Insulin wisely Life on Earth started simple. For nearly 2 billion years, tiny single-celled organisms dominated. Then, a lucky accident changed everything. One cell swallowed another, and the swallowed cell became mitochondria, the powerhouse of complex cells. This chance...
The Rational Walk
Coffee Can Investing Sometimes an investing approach that is not necessarily "rational" from an economic perspective can...
a year ago
25
a year ago
Sometimes an investing approach that is not necessarily "rational" from an economic perspective can produce superior results when one accounts for human nature.
Calculated Risk
Monday: Pending Home Sales Weekend: Schedule for Week of December 29, 2024 Chicago Purchasing Managers Index for...
2 months ago
21
2 months ago
Weekend: Schedule for Week of December 29, 2024 Chicago Purchasing Managers Index for December. Pending Home Sales Index for November. The consensus is for a 0.7% increase in the index. Dallas Fed Survey of Manufacturing Activity for December. This is the last of regional...
Calculated Risk
Schedule for Week of January 5, 2024 The key report this week is the December employment report on Friday. ----- Monday, January 6th...
2 months ago
30
2 months ago
The key report this week is the December employment report on Friday. ----- Monday, January 6th ----- No major economic releases scheduled. ----- Tuesday, January 7th ----- 8:30 AM: Trade Balance report for November from the Census Bureau. 10:00 AM ET: Job Openings and Labor...
Citation Needed
Issue 58 – Threats to the stability and integrity of Ethereum The Justice Department worries about the stability of Ethereum, DCG tries to bilk their subsidiary's...
9 months ago
141
9 months ago
The Justice Department worries about the stability of Ethereum, DCG tries to bilk their subsidiary's creditors, and Biden threatens a crypto veto.
Calculated Risk
LA Ports: Traffic Increased Sharply Year-over-year in November Container traffic gives us an idea about the volume of goods being exported and imported - and...
2 months ago
24
2 months ago
Container traffic gives us an idea about the volume of goods being exported and imported - and usually some hints about the trade report since LA area ports handle about 40% of the nation's container port traffic. Los Angeles and Long Beach in TEUs (TEUs: 20-foot equivalent units...
Commoncog
The Study of Asian Tycoons What can we learn from the study of Asian conglomerates, and the small group of tycoons that control...
a month ago
14
a month ago
What can we learn from the study of Asian conglomerates, and the small group of tycoons that control them?
Citation Needed
Polling: Are Democratic voters really “increasingly gravitating towards crypto”? Paradigm has polled some Democratic voters about crypto and released a summary of their results. How...
6 months ago
71
6 months ago
Paradigm has polled some Democratic voters about crypto and released a summary of their results. How does it stack up to other industry polls, which are often heavily manipulated to paint a deceptively rosy picture?
Mazdak
The 7 Steps to Becoming a Top Investor Do you want to become a great investor? If so, you're in the right place. In this article, I'm going...
a year ago
23
a year ago
Do you want to become a great investor? If so, you're in the right place. In this article, I'm going to share with you the seven steps that I believe are essential for becoming a top investor. Step 1: Develop a Clear Investment Philosophy The first step to becoming a great...
Mazdak
Information Overload? Don't Be Fooled! In today's world of instant access and information overload, we often find ourselves bombarded with...
a year ago
35
a year ago
In today's world of instant access and information overload, we often find ourselves bombarded with conflicting opinions and dubious advice. It can be a challenge to distinguish genuine expertise from misleading claims and unqualified opinions. This issue of our newsletter offers...
Mazdak
Mastering Twitter/X Growth: Strategies to Skyrocket Your Follower Count Twitter/X stands as one of the leading platforms for sharing ideas, connecting with others, and...
a year ago
17
a year ago
Twitter/X stands as one of the leading platforms for sharing ideas, connecting with others, and building your personal brand. With the right strategies, you can transform your Twitter presence into a thriving community of engaged followers. In this blog post, I'll dive into...
The Rational Walk
The Digest #220 The Intelligent Investor, Antitrust and Big Tech, Berkshire Hathaway's Moat, Nuclear War Risks, The...
4 months ago
56
4 months ago
The Intelligent Investor, Antitrust and Big Tech, Berkshire Hathaway's Moat, Nuclear War Risks, The Invisible Man, AIG's Rise & Fall, Housing Prices, Barbary Wars, Speeches of Pericles
Musings on Markets
Catastrophic Risk: Investing and Business Implications In the context of valuing companies, and sharing those valuations, I do get suggestions from readers...
a year ago
3
a year ago
In the context of valuing companies, and sharing those valuations, I do get suggestions from readers on companies that I should value next. While I don't have the time or the bandwidth to value all of the suggested companies, a reader from Iceland, a couple of weeks ago, made a...
Calculated Risk
A few comments on the Seasonal Pattern for House Prices A few key points: 3) The seasonal swings have increased recently without a surge in distressed...
a week ago
7
a week ago
A few key points: 3) The seasonal swings have increased recently without a surge in distressed sales. Click on graph for larger image. The second graph shows the seasonal factors for the Case-Shiller National index since 1987. The factors started to change near the peak of...
Citation Needed
Issue 57 - I take deep breath and I get real high Changpeng Zhao's sentencing, FOIA requests reveal past FBI investigations into Coinbase, and the SEC...
10 months ago
106
10 months ago
Changpeng Zhao's sentencing, FOIA requests reveal past FBI investigations into Coinbase, and the SEC is on a Wells notice bender.
Mazdak
Anthropic & Amazon Partnership In the world of cutting-edge AI, a power couple has emerged: Anthropic, the ambitious AI startup,...
3 months ago
52
3 months ago
In the world of cutting-edge AI, a power couple has emerged: Anthropic, the ambitious AI startup, and Amazon, the tech giant with cloud dominance.
Calculated Risk
FOMC Minutes: Concern about tariffs, "take time" on any additional Rate Cuts From the Fed: Minutes of the Federal Open Market Committee, January 28–29, 2025. Excerpt: With...
2 weeks ago
10
2 weeks ago
From the Fed: Minutes of the Federal Open Market Committee, January 28–29, 2025. Excerpt: With regard to the outlook for inflation, participants expected that, under appropriate monetary policy, inflation would continue to move toward 2 percent, although progress could remain...
Commoncog
Focus Is Saying No To Good Ideas Several stories about one of the hardest maxims to put to practice in business.
over a year ago
Calculated Risk
NAHB: Builder Confidence "Edges Up" in January The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 47,...
a month ago
20
a month ago
The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 47, up from 46 last month. Any number below 50 indicates that more builders view sales conditions as poor than good. Builder Confidence Edges Up Even as Market Risk Concerns...
The Rational Walk
The Oresteia The Oresteia is a trilogy produced by Aeschylus in 458 BC. Trapped in a cycle of lawless savagery,...
9 months ago
81
9 months ago
The Oresteia is a trilogy produced by Aeschylus in 458 BC. Trapped in a cycle of lawless savagery, mankind finds its way toward due process and justice.
Musings on Markets
DeepSeek crashes the AI Party: Story Break, Change or Shift? I am going to start this post with a confession that my knowledge of the architecture and mechanics...
a month ago
10
a month ago
I am going to start this post with a confession that my knowledge of the architecture and mechanics of AI are pedestrian and that there will be things that I don't get right in this post. That said, DeepSeek's abrupt entry into the AI conversation has the potential to change the...
Calculated Risk
Sunday Night Futures Weekend: Schedule for Week of February 9, 2025 Pre-Market Data and Bloomberg futures S&P 500 are up...
4 weeks ago
12
4 weeks ago
Weekend: Schedule for Week of February 9, 2025 Pre-Market Data and Bloomberg futures S&P 500 are up 18 and DOW futures are up 88 (fair value). WTI futures at $71.00 per barrel and Brent at $74.66 per barrel. A year ago, WTI was at $77, and Brent was at $83 - so WTI oil prices...
Seeking Wisdom
Attention is all you need – Part 1 This is the 10th post in my series on building a toy GPT. Read my earlier posts first for better...
a year ago
136
a year ago
This is the 10th post in my series on building a toy GPT. Read my earlier posts first for better understanding. I asked ChatGPT to complete the sentence given the phrase: “I chose that bank for”. It completed the sentences sensibly. Here are the four sentences it generated: In...
Mazdak
The Best Age to Start Taking Social Security: It's Not What You Think When you reach full retirement age (FRA), you can start taking Social Security benefits. But you may...
a year ago
24
a year ago
When you reach full retirement age (FRA), you can start taking Social Security benefits. But you may want to consider taking them sooner, even if it means a smaller monthly check. Here's why: Your benefits will grow by 8% per year for each year you delay taking them, up to age...
Calculated Risk
Lawler: Early Read on Existing Home Sales in November Today, in the Calculated Risk Real Estate Newsletter: Lawler: Early Read on Existing Home Sales in...
2 months ago
37
2 months ago
Today, in the Calculated Risk Real Estate Newsletter: Lawler: Early Read on Existing Home Sales in November A brief excerpt: From housing economist Tom Lawler: seasonally adjusted annual rate of 4.09 million in November, up 3.3% from October’s preliminary pace and up 4.6% from...
FIRE v London
Becoming an ISA $millionaire This time last year I wrote that my annual ISA update was many months late. I had delayed it until...
a year ago
67
a year ago
This time last year I wrote that my annual ISA update was many months late. I had delayed it until using my full annual ISA allowance(s), which took me much longer than usual last year. This year I actually completed my ISA topups in April, within a few weeks of the start of the...
Citation Needed
POSSE: Reclaiming social media in a fragmented world A simple technique offers the best of both worlds: total control over your own work, while still...
5 months ago
67
5 months ago
A simple technique offers the best of both worlds: total control over your own work, while still maintaining a presence on third-party platforms.
Calculated Risk
AIA: Architecture Billings "Flat" in November; Multi-family Billings Turn Slightly Positive Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE)...
2 months ago
32
2 months ago
Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. ABI November 2024: Architecture firm billings remain flat Despite the AIA/Deltek Architecture Billings Index (ABI) score dipping slightly below 50 for the month, it remains close...
oftwominds-Charles...
The Crises Yet to Come "Controlling the narrative" to justify destabilizing asymmetries won't change the consequences. ...
a month ago
7
a month ago
"Controlling the narrative" to justify destabilizing asymmetries won't change the consequences. That the Trump Reformation / Counter-Reformation is disrupting various nodes of the status quo is viewed as an existential crise by many. The choice between Reformation /...
The Rational Walk
The Odyssey Homer's epic poem tells the story of how Odysseus struggled to return home after the Trojan War. It...
10 months ago
121
10 months ago
Homer's epic poem tells the story of how Odysseus struggled to return home after the Trojan War. It is one of the greatest stories in history.
The Diff
How Many Layers in the AI Stack? Plus! Scale; Outsourcing Capital; Closed-Loop Generative AI; The Perks of Market Power; Labor...
3 weeks ago
Bits about Money
Seeing like a Bank The structural reasons why banks sometimes behave bizarrely in interactions with customers, like...
a year ago
88
a year ago
The structural reasons why banks sometimes behave bizarrely in interactions with customers, like forgetting things which customers tell them.
The Rational Walk
The Digest #184 Ed Thorp: A Man for All Markets, Howard Marks on easy money, Active patience, Activist investing,...
a year ago
75
a year ago
Ed Thorp: A Man for All Markets, Howard Marks on easy money, Active patience, Activist investing, Damodaran's 2024 data update, Michael Ovitz, Live Oak, Red Bull, Capital allocation
Mazdak
Tech Titans: AI Race Heats Up! We will explore the intensifying competition between major tech companies in the field of artificial...
4 months ago
27
4 months ago
We will explore the intensifying competition between major tech companies in the field of artificial intelligence.
Musings on Markets
The Wisdom and Madness of Crowds: Market Prices as Political Predictors! In this, the first full week in November 2024, the big news stories of this week are political, as...
4 months ago
4
4 months ago
In this, the first full week in November 2024, the big news stories of this week are political, as the US presidential election reached its climactic moment on Tuesday, but I don't write about politics, not because I do not have political views, but because I reserve those views...
Calculated Risk
Cleveland Fed: Median CPI increased 0.3% and Trimmed-mean CPI increased 0.3% in November The Cleveland Fed released the median CPI and the trimmed-mean CPI. Click on graph for larger...
a month ago
22
a month ago
The Cleveland Fed released the median CPI and the trimmed-mean CPI. Click on graph for larger image. On a year-over-year basis, the median CPI rose 3.8% (down from 3.9% YoY in November), the trimmed-mean CPI rose 3.2% (down slightly from 3.2%), and the CPI less food and energy...
The Rational Walk
The Digest #163 Corporate taxes, Berkshire's clean energy investments, Isaacson's biography of Elon Musk, ESPN's...
a year ago
24
a year ago
Corporate taxes, Berkshire's clean energy investments, Isaacson's biography of Elon Musk, ESPN's future, Nvidia, AI, Interpreting medical studies, Why Doomberg left Twitter, Jimmy Buffett, and more...
The Rational Walk
The Other Side of the Trade Reflections on trying to profit from the technical problems that caused Berkshire Hathaway and other...
9 months ago
90
9 months ago
Reflections on trying to profit from the technical problems that caused Berkshire Hathaway and other stocks to temporarily crash on June 3, 2024.
Moneyness
Trump claims US banks can't open in Canada—US banks disagree In what seems to be an effort to extort Canada for additional benefits, Donald Trump complained...
a month ago
9
a month ago
In what seems to be an effort to extort Canada for additional benefits, Donald Trump complained yesterday on social media that CANADA DOESN'T EVEN ALLOW U.S. BANKS TO OPEN OR DO BUSINESS THERE. And so according to Trump, Canada doubly deserves to be disciplined with...
Mazdak
Workspace AI Features Now Included for Free Google has just dropped a major announcement that’s set to reshape how we use AI-powered...
a month ago
28
a month ago
Google has just dropped a major announcement that’s set to reshape how we use AI-powered productivity tools.
Commoncog
High Roller: Lessons from America's Richest Banker Andy Beal's story is an astounding story of capital allocation, incidentally making him America's...
a year ago
41
a year ago
Andy Beal's story is an astounding story of capital allocation, incidentally making him America's richest banker. A guest post by Frederik Gieschen.
Calculated Risk
Tuesday: NY Fed Mfg, Homebuilder Survey Weekend: Schedule for Week of February 16, 2025 Empire State manufacturing survey for February. The...
3 weeks ago
11
3 weeks ago
Weekend: Schedule for Week of February 16, 2025 Empire State manufacturing survey for February. The consensus is for a reading of -1.0, up from -12.6. NAHB homebuilder survey.  The consensus is for a reading of 47, unchanged from 47 the previous month. Any number below 50...
The Diff
Who is Levered to Extreme, but not History-Ending, Growth? Plus! Bond; Capitalizing Nvidia's Strategy; Creator Funds; Adjusted EBITDA; Shortages and Gluts
2 weeks ago
Calculated Risk
Thursday: Unemployment Claims, GDP, Existing Home Sales Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. initial weekly...
2 months ago
31
2 months ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. initial weekly unemployment claims report will be released. The consensus is for 232 thousand initial claims, down from 242 thousand last week. Gross Domestic Product, 3rd quarter 2024 (Third...
The Rational Walk
The Digest #162 Volcker on inflation, Parametric insurance, The futility of guidance, Corporate governance reform,...
a year ago
22
a year ago
Volcker on inflation, Parametric insurance, The futility of guidance, Corporate governance reform, Keeping a notebook, Singleton and Teledyne, The pros and cons of cancer screening
Mazdak
Big Tech Ad Boom Tech giants are raking in cash as the digital ad market explodes!
4 months ago
Calculated Risk
Fannie and Freddie: Single Family Serious Delinquency Rates Increased in January; Fannie Mae... Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family Serious...
a week ago
5
a week ago
Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family Serious Delinquency Rates Increased in January Freddie Mac reported that the Single-Family serious delinquency rate in January was 0.61%, up from 0.59% December. Freddie's rate is up...
Calculated Risk
Housing Dec 30th Weekly Update: Inventory down 2.5% Week-over-week, Up 26.8% Year-over-year Altos reports that active single-family inventory was down 2.5% week-over-week. Inventory will...
2 months ago
27
2 months ago
Altos reports that active single-family inventory was down 2.5% week-over-week. Inventory will continue to decline seasonally until early next year and probably bottom in late January or February. The first graph shows the seasonal pattern for active single-family inventory...
The Rational Walk
The Digest #167 TIPS for Retirement, BYD vs. Tesla, Katalin Karikó's vindication, Teledyne, Helzberg Diamonds,...
a year ago
31
a year ago
TIPS for Retirement, BYD vs. Tesla, Katalin Karikó's vindication, Teledyne, Helzberg Diamonds, Interviews of Marc Andreessen and Shane Parrish, David Senra's review of Jimmy Buffett's autobiography
Mazdak
The Future of Healthcare: Your AI Health Pod is Here! 🩺 Get ready for a revolution in healthcare! Say goodbye to long waits and crowded waiting rooms, and...
a year ago
38
a year ago
Get ready for a revolution in healthcare! Say goodbye to long waits and crowded waiting rooms, and hello to the CarePod, your self-contained doctor's office powered by artificial intelligence. Imagine: Stepping into a futuristic pod at your local mall, gym, or even office...
Commoncog
One Definition of Wisdom Charlie Munger’s biggest business mistake, and what it tells us about wisdom.
a year ago
FIRE v London
Sep 23: Antisocial markets For some reason shoplifting is in the news. There’s evidently an epidemic of it. Not just in the UK,...
a year ago
83
a year ago
For some reason shoplifting is in the news. There’s evidently an epidemic of it. Not just in the UK, but wider afield too – hence major brands pulling out of cities like San Francisco. From what I hear there is a general increase in antisocial behaviour, dating from the covid-19...
Commoncog
What Rigorous Process Improvement in Education Looks Like What an rigorous trial and error looks like when applied to improving disadvantaged student outcomes...
5 months ago
80
5 months ago
What an rigorous trial and error looks like when applied to improving disadvantaged student outcomes ... and why you should do this in your own organisational contexts.
Citation Needed
We can have a different web Many yearn for the “good old days” of the web. We could have those good old days back — or something...
10 months ago
103
10 months ago
Many yearn for the “good old days” of the web. We could have those good old days back — or something even better — and if anything, it would be easier now than it ever was.
FIRE v London
My exits – a post mortem Readers will know that I dabble with active investing – I pick stocks. Lord, make me passive, but...
a month ago
17
a month ago
Readers will know that I dabble with active investing – I pick stocks. Lord, make me passive, but not yet Rather like The Investor at Monevator, I firmly believe in the merits of low cost index tracking as an investment strategy, but I also enjoy the thrills / intellectual...
Calculated Risk
Tuesday: Richmond Fed Mfg Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Richmond Fed...
2 months ago
35
2 months ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Richmond Fed Survey of Manufacturing Activity for December. NYSE and the NASDAQ will close early at 1:00 PM ET.
The Rational Walk
Thucydides Thucydides is best known for his extensive history of the Peloponnesian War which took place between...
6 months ago
78
6 months ago
Thucydides is best known for his extensive history of the Peloponnesian War which took place between 431 - 404 BC.
Calculated Risk
Thursday: Unemployment Claims, Trade Deficit Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. initial weekly...
5 days ago
3
5 days ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. initial weekly unemployment claims report will be released. The consensus is for 234 initial claims down from 242 thousand last week. U.S. International Trade in Goods and Services for January...
Citation Needed
Issue 46 – Checkmate, crypto Cheating chess-players, cursed mansions, and more defi centralization.
a year ago
Calculated Risk
Retail Sales Increased 0.7% in November On a monthly basis, retail sales increased 0.7% from October to November (seasonally adjusted), and...
2 months ago
37
2 months ago
On a monthly basis, retail sales increased 0.7% from October to November (seasonally adjusted), and sales were up 3.8 percent from November 2023. report: Advance estimates of U.S. retail and food services sales for November 2024, adjusted for seasonal variation and holiday and...
Citation Needed
Fighting for our web A talk from XOXO
5 months ago
Commoncog
The Hospitality Solution in Your Business A look at the main provocation of Will Guidara’s Unreasonable Hospitality: that you can solve...
6 months ago
84
6 months ago
A look at the main provocation of Will Guidara’s Unreasonable Hospitality: that you can solve (certain) business problems with hospitality, and that it only takes a little thoughtfulness to do so.
Calculated Risk
Freddie Mac House Price Index Increased in January; Up 3.9% Year-over-year Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased in...
a week ago
5
a week ago
Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased in January; Up 3.9% Year-over-year A brief excerpt: Freddie Mac reported that its “National” Home Price Index (FMHPI) increased 0.41% month-over-month on a seasonally adjusted (SA)...
Commoncog
The Gambling King The start of the Asian Conglomerates Series: we open with a look at the life of Stanley Ho, gambling...
a month ago
19
a month ago
The start of the Asian Conglomerates Series: we open with a look at the life of Stanley Ho, gambling king of Macau.
The Rational Walk
The Digest #208 Biden's Withdrawal and Limits of Gaslighting, The CrowdStrike Crash, Munger and Franklin, Steve Jobs...
7 months ago
93
7 months ago
Biden's Withdrawal and Limits of Gaslighting, The CrowdStrike Crash, Munger and Franklin, Steve Jobs in 1983, Microsoft deep dive, Marks on risk, Luca Delanna on ergodicity, Guadalcanal
Mazdak
2024: A Roadmap for AI's Next Big Step 2023 was a whirlwind year for artificial intelligence (AI). ChatGPT wowed us with its ability to...
a year ago
85
a year ago
2023 was a whirlwind year for artificial intelligence (AI). ChatGPT wowed us with its ability to generate human-quality text, while chipmaker Nvidia pushed the boundaries of what's possible with graphics processing units (GPUs). But amidst the hype, there were also concerns about...
The Rational Walk
Stepping into the River Just like no man steps into the same river twice, reading a worthwhile book multiple times continues...
4 months ago
49
4 months ago
Just like no man steps into the same river twice, reading a worthwhile book multiple times continues to yield new insights over the years.
The Rational Walk
Burlington Northern Santa Fe — 2023 Results Warren Buffett is concerned about the performance of Berkshire's railroad
a year ago
Molson Hart's Blog -...
Amazon’s Pricing Policies Promote Inflation The state of California has sued Amazon in what may be the biggest antitrust case for 25 years, when...
a year ago
3
a year ago
The state of California has sued Amazon in what may be the biggest antitrust case for 25 years, when 20 states joined the US Department of Justice to sue Microsoft. These cases revolve around whether consumers are harmed by the company’s actions. The case against Amazon focuses...
Bits about Money
The Long Shadow of Checks A lot of more modern financial infrastructure follows the paths blazed by checks, at least in the...
a year ago
Mazdak
Bybit’s $5.5 Billion Bank Run: A Turning Point for Crypto Security? In the volatile world of cryptocurrency, security is paramount.
2 weeks ago
Moneyness
Canadian guilt, Russian oil We Canadians are overwhelmingly pro-Ukraine and anti-Putin, so when the CBC published an expose last...
a month ago
8
a month ago
We Canadians are overwhelmingly pro-Ukraine and anti-Putin, so when the CBC published an expose last week about "banned Russian oil" sneaking into Canada, it was read in despair by most of us. What an awful failure of Canadian sanctions policy.  As with a lot of sanctions...
Calculated Risk
Tuesday: Job Openings From Matthew Graham at Mortgage News Daily: Mortgage Rates Recover Some of Last Week's Losses Bonds...
14 hours ago
1
14 hours ago
From Matthew Graham at Mortgage News Daily: Mortgage Rates Recover Some of Last Week's Losses Bonds are once again paying attention to weakness in stocks--it just happened to take a bigger drop in stocks that we saw last week. Despite the improvement in rates, we would still...
Calculated Risk
Sunday Night: Markets Closed in observance of Martin Luther King Jr. Day Weekend: Schedule for Week of January 19, 2025 US markets will be closed in observance of Martin...
a month ago
22
a month ago
Weekend: Schedule for Week of January 19, 2025 US markets will be closed in observance of Martin Luther King Jr. Day WTI futures at $77.88 per barrel and Brent at $80.79 per barrel. A year ago, WTI was at $74, and Brent was at $81 - so WTI oil prices are up about 5%...
The Rational Walk
The Digest #204 Buffett buys more Occidental, Daily Journal annual meeting notes, Experts vs. Imitators, Slowing...
8 months ago
86
8 months ago
Buffett buys more Occidental, Daily Journal annual meeting notes, Experts vs. Imitators, Slowing down time, Return of meme stocks, The U.S. Constitution, Gouverneur Morris, Cleopatra
The Rational Walk
Berkshire Hathaway’s 2024 Q&A Session Warren Buffett answered over thirty questions in a five hour marathon session in the first annual...
10 months ago
78
10 months ago
Warren Buffett answered over thirty questions in a five hour marathon session in the first annual meeting after Charlie Munger's death.
Calculated Risk
Cleveland Fed: Median CPI increased 0.3% and Trimmed-mean CPI increased 0.4% in January The Cleveland Fed released the median CPI and the trimmed-mean CPI. Click on graph for larger...
3 weeks ago
10
3 weeks ago
The Cleveland Fed released the median CPI and the trimmed-mean CPI. Click on graph for larger image. On a year-over-year basis, the median CPI rose 3.6% (down from 3.7% YoY in December), the trimmed-mean CPI rose 3.1% (down from 3.2%), and the CPI less food and energy rose...
balajis.com
Crypto Twitter Found SBF's Fraud The establishment did nothing until the internet revealed everything.
a year ago
The Rational Walk
Staying the Course It is much easier for "know nothing" investors to stick with a dollar cost averaging program in the...
3 weeks ago
13
3 weeks ago
It is much easier for "know nothing" investors to stick with a dollar cost averaging program in the long run.
Mazdak
X's Ad Business Faces Its Toughest Challenge Yet In a major blow to X, formerly Twitter, a number of marquee advertisers have announced that they are...
a year ago
28
a year ago
In a major blow to X, formerly Twitter, a number of marquee advertisers have announced that they are suspending ad spending on the platform. This comes in response to owner Elon Musk's endorsement of an antisemitic post, as well as to a report by Media Matters For America that...
Commoncog
Renaming the Business Expertise Triad Renaming the business expertise triad from Supply/Demand/Capital to the simpler ...
a year ago
The Diff
Meme Markets Plus! Equity Comp, Squared; Venture Debt; 5%; Crypto Leverage; Closed-End Funds
a month ago
Mazdak
Buffett's $325 Billion Warning Is the legendary investor Warren Buffett sounding the alarm on the market? Berkshire Hathaway,...
3 months ago
26
3 months ago
Is the legendary investor Warren Buffett sounding the alarm on the market? Berkshire Hathaway, Buffett's company, is sitting on a record $325 billion in cash after selling off major chunks of Apple and Bank of America stock.
Moneyness
Memecoins are the point Cypherpunks wanted to change the world. We ended up with memecoins. Our story begins with some very...
4 months ago
4
4 months ago
Cypherpunks wanted to change the world. We ended up with memecoins. Our story begins with some very smart and idealistic developers, known as cypherpunks, creating a new technology know as a blockchain. Blockchains are databases, but decentralized. Advertised as being...
Musings on Markets
Data Update 3 for 2025: The times they are a'changin'! In my first two data posts for 2025, I looked at the strong year that US equities had in 2024, but a...
a month ago
9
a month ago
In my first two data posts for 2025, I looked at the strong year that US equities had in 2024, but a very good year for the overall market does not always translate into equivalent returns across segments of the market. In this post, I will remain focused on US equities, but I...
The Diff
Two Models of Forward-Deployed Engineers Plus! Corporate VC; The New AI Model; The New AI Model, Continued; The Long But Volatile March;...
a month ago
Calculated Risk
Real Estate Newsletter Articles this Week: Case-Shiller Index Up 3.6% year-over-year in October At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger...
2 months ago
25
2 months ago
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. Case-Shiller: National House Price Index Up 3.6% year-over-year in October Final Look at Local Housing Markets in November and a Look Ahead to December Sales Fannie and Freddie: Single...
Mazdak
Understanding Employment Insurance (EI) Employment Insurance (EI) is a social insurance program in Canada that provides temporary financial...
a year ago
103
a year ago
Employment Insurance (EI) is a social insurance program in Canada that provides temporary financial support to eligible individuals who lose their jobs through no fault of their own. While this is the most commonly understood purpose of EI, the program offers various benefits...
The Diff
Longreads + Open Thread Personal Essays, Lies, Popes, GPT-4.5, Banks, Buy-and-Hold, Advanced Portfolio Management, Trade,...
3 days ago
3
3 days ago
Personal Essays, Lies, Popes, GPT-4.5, Banks, Buy-and-Hold, Advanced Portfolio Management, Trade, Karp
Calculated Risk
ISM® Manufacturing index Increased to 50.9% in January (Posted with permission). The ISM manufacturing index indicated expansion. The PMI® was at 50.9%...
a month ago
11
a month ago
(Posted with permission). The ISM manufacturing index indicated expansion. The PMI® was at 50.9% in January, up from 49.2% in December. The employment index was at 50.3%, up from 45.4% the previous month, and the new orders index was at 55.1%, up from 52.1%. Manufacturing PMI®...
The Rational Walk
Dollar General: Value or Value Trap? I spent Labor Day weekend reading about this beaten down retailer. This article provides some...
a year ago
104
a year ago
I spent Labor Day weekend reading about this beaten down retailer. This article provides some initial thoughts about the company as well as the overall retail landscape.
Calculated Risk
Thursday: National Day of Mourning for former President Jimmy Carter, Unemployment Claims Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday: NYSE...
2 months ago
22
2 months ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday: NYSE and the NASDAQ will be closed in observance of a National Day of Mourning for former President Jimmy Carter. Small Business Optimism Index for December. initial weekly unemployment...
Mazdak
Trump's Antitrust Agenda: Big Tech in the Balance Will Big Tech face a reckoning or a reprieve?
4 months ago
Mazdak
Meta's AI & Reuters: A New Era of News? Meta's AI is changing how we consume news. The tech giant has partnered with Reuters, a leading...
4 months ago
29
4 months ago
Meta's AI is changing how we consume news. The tech giant has partnered with Reuters, a leading global news provider, to bring real-time news updates directly to users through Meta's AI chatbot.
Molson Hart's Blog -...
Is China Taking Over US Retail? Yes. Let me explain. Amazon made it easy for Chinese companies to sell their products directly to...
over a year ago
4
over a year ago
Yes. Let me explain. Amazon made it easy for Chinese companies to sell their products directly to American consumers. In response, the Chinese, after having hollowed out American manufacturing, have moved up the value chain to do the same thing to American wholesale and retail....
Citation Needed
Issue 72 – A seat at the table The SEC is still busy even though it may soon be undermined, crypto industry capture of government...
2 months ago
47
2 months ago
The SEC is still busy even though it may soon be undermined, crypto industry capture of government continues to worsen, and several media outlets botch their crypto reporting at a time it’s needed most.
FIRE v London
In praise of Berkshire Hathaway I think I first clocked Warren Buffett’s (and Charlie Munger RIP’s) Berkshire Hathaway around the...
a year ago
104
a year ago
I think I first clocked Warren Buffett’s (and Charlie Munger RIP’s) Berkshire Hathaway around the year 2000. I loved the story. Starting from, as the story was told back then, humble beginnings and a paper round, Warren Buffett (and Charlie – who I will stop mentioning but...
Commoncog
There Is No Truth in Business, Only Knowledge 'Knowledge' here is defined as 'theories or models that help you predict better'. How an idea from...
a year ago
76
a year ago
'Knowledge' here is defined as 'theories or models that help you predict better'. How an idea from W. Edwards Deming may well be a working philosophy of business.
The Rational Walk
Real Estate Adventures Buying real estate can be intimidating and complicated. This article describes two experiences with...
11 months ago
44
11 months ago
Buying real estate can be intimidating and complicated. This article describes two experiences with realtors, one positive and one negative.
The Rational Walk
Buffett Resumes Occidental Purchases Berkshire spent $246.4 million to acquire 3.9 million OXY shares between October 23 and October 25.
a year ago
Commoncog
The Two Types of Data Analysis Broadly speaking, there are two approaches to data analysis in business. The two approaches have...
a year ago
78
a year ago
Broadly speaking, there are two approaches to data analysis in business. The two approaches have different worldviews, and express different tradeoffs. Here's why that matters.
The Rational Walk
The Digest #190 Berkshire Hathaway's Annual Report, Liberty SiriusXM, Catastrophic risk, Tesla's lead designer, Ben...
a year ago
82
a year ago
Berkshire Hathaway's Annual Report, Liberty SiriusXM, Catastrophic risk, Tesla's lead designer, Ben Graham's summer on a farm, Income taxes, Interviews of Bruce Berkowitz and Howard Marks, and more...
Mazdak
Commercial vs. Residential Real Estate: Which One Is Right for You? Investing in real estate can be a great way to build wealth and generate passive income. But which...
a year ago
16
a year ago
Investing in real estate can be a great way to build wealth and generate passive income. But which type of real estate is right for you? Commercial or residential? In this blog post, we will compare and contrast commercial and residential real estate, and help you decide which...
Calculated Risk
ISM® Services Index Decreases to 52.8% in January (Posted with permission). The ISM® Services index was at 52.8%, down from 54.0% last month. The...
a month ago
12
a month ago
(Posted with permission). The ISM® Services index was at 52.8%, down from 54.0% last month. The employment index increased to 52.3%, from 51.3%. Note: Above 50 indicates expansion, below 50 in contraction. Services PMI® at 52.8% January 2025 Services ISM® Report On...
Commoncog
What To Think When Looking at a Chart In a business context, what should you think when presented with a time series? Or: a really dumb...
a year ago
81
a year ago
In a business context, what should you think when presented with a time series? Or: a really dumb question that nobody seems to talk about.
Mazdak
Finance News Roundup - Wednesday, 29th November 😢 Investing Legend Charlie Munger Passes Away Charlie Munger, a longtime vice chairman of Berkshire...
a year ago
64
a year ago
😢 Investing Legend Charlie Munger Passes Away Charlie Munger, a longtime vice chairman of Berkshire Hathaway and a close associate of Warren Buffett, has passed away at the age of 97. Munger was known for his wit, wisdom, and contrarian investment style.
Calculated Risk
Semiannual Monetary Policy Report to the Congress This testimony will be live here at 10:00 AM ET and also on C-SPAN 3. Report here. An excerpt: The...
3 weeks ago
11
3 weeks ago
This testimony will be live here at 10:00 AM ET and also on C-SPAN 3. Report here. An excerpt: The Federal Open Market Committee (FOMC) is firmly committed to fulfilling its statutory mandate from the Congress of promoting maximum employment, stable prices, and moderate...
The Diff
Social Media as a Test of Human-in-the-Loop Generative AI Plus! Holdcos; Cash and Control; War Economies; In-Kind Dividends; Currency
3 months ago
balajis.com
#2 - Tobi Lütke & Kaz Nejatian on Shopify's Country-Sized Economy Listen now (127 min) | Tobi Lütke (Shopify Founder & CEO), Kaz Nejatian (Shopify COO), and Balaji...
over a year ago
21
over a year ago
Listen now (127 min) | Tobi Lütke (Shopify Founder & CEO), Kaz Nejatian (Shopify COO), and Balaji review how Shopify rose from tiny startup to $180B+ global economy, with an annual GMV on par with the GDP of New Zealand. In the process they touch on Hayek, the Hanseatic League,...
Calculated Risk
Monday: ISM Manufacturing, Construction Spending, Vehicle Sales Weekend: Schedule for Week of February 2, 2025 ISM Manufacturing Index for January. The consensus is...
a month ago
12
a month ago
Weekend: Schedule for Week of February 2, 2025 ISM Manufacturing Index for January. The consensus is for the ISM to be at 49.5, up from 49.3 in December. Construction Spending for December. The consensus is for a 0.1% increase in construction spending. Light vehicle sales for...
Mazdak
Perplexity AI’s Bold Move to Merge with TikTok As the United States inches closer to a potential TikTok ban, Perplexity AI has emerged as a...
a month ago
30
a month ago
As the United States inches closer to a potential TikTok ban, Perplexity AI has emerged as a surprising yet intriguing bidder to merge with TikTok US.
The Diff
Venture Global as a Well-Structured Trade Plus! Agents; Capital Returns; Creator Underwriting; Crypto Plays; Airlines
a month ago
Molson Hart's Blog -...
Investment Advice Which Stands the Test of Time There is investment advice in the book of Jewish religious law (the Talmud). It advises that you...
10 months ago
6
10 months ago
There is investment advice in the book of Jewish religious law (the Talmud). It advises that you keep 1/3rd of your wealth in business, 1/3rd in land, and 1/3rd in gold. It's genius. Why? First, it's simple. Second, business, and, to a lesser extent, land, (but not gold, usually)...
Calculated Risk
Thursday: Unemployment Claims, PPI, Q3 Flow of Funds Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. initial weekly...
2 months ago
28
2 months ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. initial weekly unemployment claims report will be released. The consensus is for 220 thousand initial claims, up from 213 thousand last week. Producer Price Index for November from the BLS. The...
Mazdak
How DeepSeek, a Chinese AI Startup, is Challenging the Titans of Silicon Valley In the ever-evolving world of artificial intelligence, the stage has been dominated by Western...
a month ago
21
a month ago
In the ever-evolving world of artificial intelligence, the stage has been dominated by Western giants like OpenAI, Google, and Meta.
Commoncog
When Action Beats Prediction One of the great paradoxes of business is that management is prediction, but entrepreneurship ......
a year ago
143
a year ago
One of the great paradoxes of business is that management is prediction, but entrepreneurship ... isn't. What a theory of expertise in entrepreneurship tells us about creating new things in business.
Bits about Money
Requiem for a bank loan A brief retrospective on an attractive product First Republic used to offer, and a wider discourse...
a year ago
29
a year ago
A brief retrospective on an attractive product First Republic used to offer, and a wider discourse on the banking crisis.
Musings on Markets
Breaking up Big Tech: Cui Bono? In a court filing on October 9, 2024, the US Department of Justice (DOJ) let it be known that it was...
4 months ago
4
4 months ago
In a court filing on October 9, 2024, the US Department of Justice (DOJ) let it be known that it was considering a break-up of Alphabet, with the addendum that it would also be pushing for the company to share the data it collects across its multiple platforms with competitors....
Calculated Risk
Schedule for Week of February 2, 2025 The key reports scheduled for this week are the January employment report and the December trade...
a month ago
15
a month ago
The key reports scheduled for this week are the January employment report and the December trade deficit​. ----- Monday, February 3rd ----- 10:00 AM: ISM Manufacturing Index for January. The consensus is for the ISM to be at 49.5, up from 49.3 in December. 10:00 AM:...
Mazdak
Inflation finally chills out! Americans rejoice & recession whispers fade as prices dip and spending... The good news just keeps coming! Prices finally took a breather in November, marking the first...
a year ago
38
a year ago
The good news just keeps coming! Prices finally took a breather in November, marking the first decline since way back in 2020! This ain't no mirage, folks - inflation is cooling down, and the Fed's fight against skyrocketing prices is showing real results!
Mazdak
Stock Buybacks: A Popular Yet Polarizing Practice Stock buybacks have become a prevalent practice in the financial world, but they also generate...
12 months ago
72
12 months ago
Stock buybacks have become a prevalent practice in the financial world, but they also generate significant debate. This article dives into the concept of buybacks, explores their motivations, and examines the arguments for and against them. What are Stock Buybacks?
The Diff
Meta's Least-Untrusted Clone Model Plus! AI Interfaces; The Many Peaks of Mobile; Borrowing Distribution Networks; Ad Arbitrages; More...
2 months ago
44
2 months ago
Plus! AI Interfaces; The Many Peaks of Mobile; Borrowing Distribution Networks; Ad Arbitrages; More YouTube AI IP
Calculated Risk
January Employment Report: 143 thousand Jobs, 4.0% Unemployment Rate From the BLS: Employment Situation Total nonfarm payroll employment rose by 143,000 in January, and...
a month ago
13
a month ago
From the BLS: Employment Situation Total nonfarm payroll employment rose by 143,000 in January, and the unemployment rate edged down to 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, retail trade, and social assistance....
Calculated Risk
Final Look at Local Housing Markets in November and a Look Ahead to December Sales Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in...
2 months ago
23
2 months ago
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in November and a Look Ahead to December Sales A brief excerpt: After the National Association of Realtors® (NAR) releases the monthly existing home sales report, I pick up additional local...
Calculated Risk
Poor Weather Reduced Employment by About 90,000 in January The BLS reported 143 thousand non-farm jobs were added in January.   During the Winter months, I...
3 weeks ago
10
3 weeks ago
The BLS reported 143 thousand non-farm jobs were added in January.   During the Winter months, I like to look at the weather impact on the report. The BLS reported 573 thousand people were employed in non-agriculture industries, with a job, but not at work due to bad weather. ...
oftwominds-Charles...
The Stoicism of the Caregiver These are difficult realities without Hollywood cliche answers. Caregivers and the costs of...
6 days ago
5
6 days ago
These are difficult realities without Hollywood cliche answers. Caregivers and the costs of caregiving don't get much attention. They're not part of the news flow, and the day-to-day grind of caregiving doesn't lend itself to the self-promotional zeitgeist of social media....
Citation Needed
Guilty or coerced? Ryan Salame’s last interviews before prison Unpacking my conversation with FTX executive Ryan Salame, where we discussed his claims that he’s...
4 months ago
60
4 months ago
Unpacking my conversation with FTX executive Ryan Salame, where we discussed his claims that he’s innocent of the charges for which he’s now serving seven and a half years in prison.
Calculated Risk
Real Estate Newsletter Articles this Week: Property Insurance Costs Rose at a Record Rate in 2024 At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. ICE...
3 days ago
3
3 days ago
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. ICE Mortgage Monitor: Property Insurance Costs Rose at a Record Rate in 2024 Fannie and Freddie: Single Family Serious Delinquency Rates Increased in January 1st Look at Local Housing...
Calculated Risk
BEA: Real GDP increased at 2.3% Annualized Rate in Q4 From the BEA: Gross Domestic Product, 4th Quarter and Year 2024 (Advance Estimate) Real gross...
a month ago
14
a month ago
From the BEA: Gross Domestic Product, 4th Quarter and Year 2024 (Advance Estimate) Real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the fourth quarter of 2024 (October, November, and December), according to the advance estimate released by the U.S....
The Rational Walk
The Digest #158 Claude Shannon's mighty mouse, Ben Graham's father, Doomberg quits Twitter, FASB segment disclosure...
a year ago
26
a year ago
Claude Shannon's mighty mouse, Ben Graham's father, Doomberg quits Twitter, FASB segment disclosure rules, Podcasts on old annual reports, Henry Ford's road trips, Jony Ive, Sal Kahn
The Rational Walk
Three Lessons A few life lessons based on observations over a half century.
a year ago
Calculated Risk
Weekly Initial Unemployment Claims Decrease to 213,000 The DOL reported: emphasis added The following graph shows the 4-week moving average of weekly...
3 weeks ago
10
3 weeks ago
The DOL reported: emphasis added The following graph shows the 4-week moving average of weekly claims since 1971. Click on graph for larger image. The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to...
Seeking Wisdom
Neural Networks – Part 1 This is my 5th post on my journey to build a toy GPT. I’d recommend checking out my previous posts...
a year ago
29
a year ago
This is my 5th post on my journey to build a toy GPT. I’d recommend checking out my previous posts before diving into this one. Take the statement, ‘I will only go for a walk if it’s nice outside AND I have free time.’ This can be neatly represented using a truth table. We can…
The Diff
The CoreWeave Triangle Plus! Gimmicks; Correlations; Continuous Search; Re-Emerging Markets; Tax Incidence
5 days ago
Commoncog
Process Behaviour Charts: More Than You Need To Know The process behaviour chart is the easiest way to differentiate between routine and exceptional...
a year ago
124
a year ago
The process behaviour chart is the easiest way to differentiate between routine and exceptional variation. This is everything you need to know to use it well.
Seeking Wisdom
From Linear to Logistic – Sigmoid Curve and Log Loss Can we predict the likelihood of heart disease from sleep and exercise? This is my fourth post on my...
a year ago
75
a year ago
Can we predict the likelihood of heart disease from sleep and exercise? This is my fourth post on my journey to build a toy GPT. I’d recommend checking out my previous posts before diving into this one. Let’s train a model to predict heart disease using sleep and exercise data....
Calculated Risk
1st Look at Local Housing Markets in December Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in...
2 months ago
23
2 months ago
Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in December A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to December 2019 for each local market (some 2019 data is not...
Calculated Risk
Q4 NY Fed Report: Mortgage Originations by Credit Score, Delinquencies Increase, Foreclosures Remain... Today, in the Calculated Risk Real Estate Newsletter: Q4 NY Fed Report: Mortgage Originations by...
3 weeks ago
10
3 weeks ago
Today, in the Calculated Risk Real Estate Newsletter: Q4 NY Fed Report: Mortgage Originations by Credit Score, Delinquencies Increase, Foreclosures Remain Low A brief excerpt: The first graph shows mortgage originations by credit score (this includes both purchase and...
The Rational Walk
The Digest #197 Interest rates, Passive investing, Ben Graham as a young man, Daniel Kahneman, Ken Langone, Lawrence...
11 months ago
121
11 months ago
Interest rates, Passive investing, Ben Graham as a young man, Daniel Kahneman, Ken Langone, Lawrence Cunningham, Reed Hastings, Steve Eisman
The Rational Walk
Berkshire Hathaway’s Q2 2023 Results Thoughts on Berkshire Hathaway's second quarter results with a focus on GEICO, BNSF, HomeServices,...
a year ago
27
a year ago
Thoughts on Berkshire Hathaway's second quarter results with a focus on GEICO, BNSF, HomeServices, Clayton Homes, Apple, and share repurchases.
Musings on Markets
Beat your Bot: Building your moat against AI It seems like a lifetime has passed since artificial intelligence (AI) became the market's biggest...
6 months ago
5
6 months ago
It seems like a lifetime has passed since artificial intelligence (AI) became the market's biggest mover, but Open AI introduced the world to ChatGPT on November 30, 2022. While ChatGPT itself represented a low-tech variation of AI, it opened the door to AI not only as a business...
Mazdak
TFSA Talk: Unlocking Tax-Free Wealth 🇨🇦 Tired of paying taxes on your investments?
4 months ago
Calculated Risk
Friday: ISM Mfg, Vehicle Sales Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Mortgage rates...
2 months ago
24
2 months ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Mortgage rates as of Monday (a little lower on Tuesday). ISM Manufacturing Index for December. The consensus is for the ISM to be at 48.3, down from 48.4 in November. Light vehicle sales for...
The Rational Walk
Inflation Expectations There's no reason for anyone to care what I think about inflation and interest rates, but readers...
11 months ago
75
11 months ago
There's no reason for anyone to care what I think about inflation and interest rates, but readers should pay close attention to Warren Buffett's statements and actions.
Calculated Risk
Comments on February Employment Report The headline jobs number in the February employment report was slightly below expectations, and...
4 days ago
3
4 days ago
The headline jobs number in the February employment report was slightly below expectations, and December and January payrolls were revised down by 2,000 combined.   The participation rate and the employment population ratio decreased, and the unemployment rate increased to...
balajis.com
The Network State Book A new book on starting new countries. Available on Kindle and for free at thenetworkstate.com.
over a year ago
23
over a year ago
A new book on starting new countries. Available on Kindle and for free at thenetworkstate.com.
Calculated Risk
Weekly Initial Unemployment Claims Decrease to 221,000 The DOL reported: emphasis added The following graph shows the 4-week moving average of weekly...
5 days ago
4
5 days ago
The DOL reported: emphasis added The following graph shows the 4-week moving average of weekly claims since 1971. Click on graph for larger image. The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased to...
Musings on Markets
Data Update 4 for 2025: Interest Rates, Inflation and Central Banks! It was an interesting year for interest rates in the United States, one in which we got more...
a month ago
7
a month ago
It was an interesting year for interest rates in the United States, one in which we got more evidence on the limited power that central banks have to alter the trajectory of market interest rates. We started 2024 with the consensus wisdom that rates would drop during the year,...
Commoncog
Running a Fine Dining Restaurant in a Recession How Eleven Madison Park survived the 2008 Global Recession ... and what this tells us about...
7 months ago
77
7 months ago
How Eleven Madison Park survived the 2008 Global Recession ... and what this tells us about operating through the capital cycle.
Calculated Risk
LA Ports: Inbound Traffic Increased Sharply Year-over-year in December Container traffic gives us an idea about the volume of goods being exported and imported - and...
a month ago
16
a month ago
Container traffic gives us an idea about the volume of goods being exported and imported - and usually some hints about the trade report since LA area ports handle about 40% of the nation's container port traffic. Los Angeles and Long Beach in TEUs (TEUs: 20-foot equivalent units...
Mazdak
Elon Musk’s $97.4 Billion Bid for OpenAI Elon Musk has once again made headlines with a massive $97.4 billion bid to take control of OpenAI,...
4 weeks ago
15
4 weeks ago
Elon Musk has once again made headlines with a massive $97.4 billion bid to take control of OpenAI, the company behind ChatGPT.
Citation Needed
Issue 54 – Cases continue Crypto-related litigation is in full swing, as the Terra civil fraud trial has kicked off and two...
11 months ago
107
11 months ago
Crypto-related litigation is in full swing, as the Terra civil fraud trial has kicked off and two other cases against crypto companies have survived motions to dismiss.
Calculated Risk
Wednesday: CPI, NY Fed Mfg, Beige Book Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. mortgage...
a month ago
23
a month ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. mortgage purchase applications index. Consumer Price Index for December from the BLS. The consensus is for 0.3% increase in CPI, and a 0.2% increase in core CPI.  The consensus is for CPI to be...
Molson Hart's Blog -...
The Fiacracy; A Mental Model for Modern Government This article will explain the following: 1. What is a Fiacracy 2. How do Fiacracies NOT work 3. How...
7 months ago
5
7 months ago
This article will explain the following: 1. What is a Fiacracy 2. How do Fiacracies NOT work 3. How Fiacracies work 4. Are Fiacracies sustainable 5. Why Fiacracies matter 1. What is a fiacracy? It’s government by fiat (money). The driving mechanism by which it works is not...
Musings on Markets
Data Update 4 for 2024: Danger and Opportunity - Bringing Risk into the Equation! In my last data updates for this year, I looked first at how equity markets rebounded in 2023,...
a year ago
4
a year ago
In my last data updates for this year, I looked first at how equity markets rebounded in 2023, driven by a stronger-than-expected economy and inflation coming down, and then at how interest rates mirrored this rebound. In this post, I look at risk, a central theme in finance and...
Bits about Money
Guys what is wrong with ACATS Ever transferred assets between brokerages? Impressive, terrifying machinations happened in the...
9 months ago
100
9 months ago
Ever transferred assets between brokerages? Impressive, terrifying machinations happened in the background. No cats were harmed.
Calculated Risk
NAHB: Builder Confidence Unchanged in December The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 46,...
2 months ago
35
2 months ago
The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 46, unchanged from 46 last month. Any number below 50 indicates that more builders view sales conditions as poor than good. Builder sentiment held steady to end the year as high home...
Calculated Risk
1st Look at Local Housing Markets in January Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in January A...
a month ago
11
a month ago
Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in January A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to January 2019 for each local market (some 2019 data is not...
Calculated Risk
Real Estate Newsletter Articles this Week: Housing Starts Down 3.9% in 2024 compared to 2023 At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. Housing...
a month ago
24
a month ago
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. Housing Starts Increased to 1.499 million Annual Rate in December Housing Discussion with Altos Research's Mike Simonsen Lawler: Early Read on Existing Home Sales in December Part 1: Current...
Calculated Risk
Case-Shiller: National House Price Index Up 3.6% year-over-year in October Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up...
2 months ago
19
2 months ago
Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 3.6% year-over-year in October S&P/Case-Shiller released the monthly Home Price Indices for October ("October" is a 3-month average of August, September and October closing prices). ...
Calculated Risk
Part 1: Current State of the Housing Market; Overview for mid-January 2025 Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market;...
a month ago
22
a month ago
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-January 2025 A brief excerpt: This 2-part overview for mid-January provides a snapshot of the current housing market. tells the tale! I’m watching...
The Rational Walk
The Digest #174 Working Hard, Berkshire Q3 Recap, ProPublica attacks Buffett, Chipotle's international ambitions,...
a year ago
42
a year ago
Working Hard, Berkshire Q3 Recap, ProPublica attacks Buffett, Chipotle's international ambitions, The AI Gold Rush, 100th anniversary of Hitler's beer hall putsch, The Federalist Papers
Mazdak
Microsoft Unveils Majorana 1: A Quantum Leap Towards the Future After 17 years of research and development, Microsoft has unveiled its first quantum...
2 weeks ago
16
2 weeks ago
After 17 years of research and development, Microsoft has unveiled its first quantum processor—Majorana 1. This breakthrough has the potential to redefine the future of computing, promising industrial-scale problem-solving and scientific discovery at an unprecedented level.
FIRE v London
The richest person you know What’s it like to be in the top 1%? According to the statistics, most of the readers of my blog are...
a year ago
113
a year ago
What’s it like to be in the top 1%? According to the statistics, most of the readers of my blog are among the highest earning and/or richest people in the UK. I bet however that not many of you feel that way. Let’s start with income To be in the top 1% of earnings in… Continue...
Citation Needed
Issue 73 – Degen volunteer fire brigade Terra founder Do Kwon is finally extradited, the CFPB proposes crypto consumer protections, and...
a month ago
38
a month ago
Terra founder Do Kwon is finally extradited, the CFPB proposes crypto consumer protections, and Polymarket reaches new lows.
The Diff
The One-Big-Side-Bet Model of Wealth Creation Plus! Diff Jobs; Building Japan's Financial Ecosystem; The New Balance of Trade; Where Return on...
3 months ago
29
3 months ago
Plus! Diff Jobs; Building Japan's Financial Ecosystem; The New Balance of Trade; Where Return on Investment Goes; Broken ETFs; Swipe Fees and Accounting
Farnam Street
Let Go of the Learning Baggage We all want to learn better. That means retaining information, processing it, being able to use it...
over a year ago
54
over a year ago
We all want to learn better. That means retaining information, processing it, being able to use it when needed. More knowledge means better instincts; better insights into opportunities for both you and your organization. You will ultimately produce better work if you give...
The Diff
Short-Term Discretionary Traders Are Unusually Automatable Plus! Dimensions of Competition; Jurisdiction; Streaming Fragmentation; Diversification; Twitter...
a month ago
Calculated Risk
Part 2: Current State of the Housing Market; Overview for mid-January 2025 Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market;...
a month ago
23
a month ago
Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-January 2025 A brief excerpt: Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-January 2025 I reviewed home inventory, housing starts...
Bits about Money
Why the CrowdStrike bug hit banks hard Regulation-induced monocultures meet unfortunate but explicable engineering decisions.
7 months ago
Calculated Risk
MBA: Mortgage Applications Increased in Weekly Survey From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications...
a month ago
23
a month ago
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 0.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 17,...
Mazdak
Free Press or Bezos Press? The Washington Post Stays Silent This episode examines the Washington Post's controversial decision to no longer endorse presidential...
4 months ago
51
4 months ago
This episode examines the Washington Post's controversial decision to no longer endorse presidential candidates, a move that has sparked outrage and accusations of cowardice, especially given the perceived threat to democracy posed by one of the candidates.
Citation Needed
Issue 78 – President on brink of bailout for bitcoin Trump tries to breathe life back into the crypto markets’ “Trump pump” while federal regulatory...
a week ago
8
a week ago
Trump tries to breathe life back into the crypto markets’ “Trump pump” while federal regulatory agencies wash their hands of any crypto industry oversight
Calculated Risk
AIA: Architecture Billings "Billings remain soft to start the new year" Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE)...
2 weeks ago
9
2 weeks ago
Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. ABI January 2025: Architecture firm billings remain soft to start the new year The AIA/Deltek Architecture Billings Index (ABI) score was 45.6 for the month, slightly above the...
The Diff
PE: Cycles and One-Off Events Plus! Streaming and Marketplaces; Automating Applications; Edge AI; Tariff Day; The AI Buildout
a week ago
Mazdak
CPP vs OAS: Understanding Canada's Core Retirement Benefits 🇨🇦 Canada's retirement income system consists of two major public pension programs: the Canada Pension...
3 months ago
23
3 months ago
Canada's retirement income system consists of two major public pension programs: the Canada Pension Plan (CPP) and Old Age Security (OAS).
Mazdak
News Publishers Sue Perplexity AI for Copyright Infringement Jeff Bezos-Backed AI Faces Legal Scrutiny Over Content Scraping Allegations.
4 months ago
Calculated Risk
Personal Income increased 0.9% in January; Spending Decreased 0.2% The BEA released the Personal Income and Outlays, January 2025 report for January: Personal income...
a week ago
6
a week ago
The BEA released the Personal Income and Outlays, January 2025 report for January: Personal income increased $221.9 billion (0.9 percent at a monthly rate) in January, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income...
The Diff
In Credit Underwriting, Better is Worse Plus! IRR; Structure; Financial Epiphytes; Shale; Weakening the Cartel
2 months ago
Calculated Risk
MBA: Mortgage Applications Decreased in Weekly Survey From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications...
2 months ago
37
2 months ago
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 0.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 13,...
Calculated Risk
Inflation Adjusted House Prices 1.0% Below 2022 Peak; Price-to-rent index is 7.7% below 2022 peak Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.0% Below...
a week ago
5
a week ago
Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.0% Below 2022 Peak It has been over 18 years since the housing bubble peak. In the December Case-Shiller house price index released this week, the seasonally adjusted National Index (SA), was...
Calculated Risk
Schedule for Week of February 9, 2025 The key reports this week are January CPI and Retail sales. ----- Monday, February 10th ----- No...
a month ago
12
a month ago
The key reports this week are January CPI and Retail sales. ----- Monday, February 10th ----- No major economic releases scheduled. ----- Tuesday, February 11th ----- 6:00 AM: NFIB Small Business Optimism Index for January. Testimony, Fed Chair Jerome Powell, Semiannual...
Calculated Risk
Monday: New Home Sales Weekend: Schedule for Week of January 26, 2025 Chicago Fed National Activity Index for December. ...
a month ago
15
a month ago
Weekend: Schedule for Week of January 26, 2025 Chicago Fed National Activity Index for December. This is a composite index of other data. New Home Sales for December from the Census Bureau. The consensus is for 670 thousand SAAR, up from 664 thousand in November. Dallas Fed...
The Rational Walk
The Digest #168 Charles F. Feeney's philanthropy, Howard Marks makes the case for credit, Spin-offs, Birkenstock's...
a year ago
26
a year ago
Charles F. Feeney's philanthropy, Howard Marks makes the case for credit, Spin-offs, Birkenstock's IPO, Costco's clothing, Todd Combs interview, Equifax, and more ...
Mazdak
The $50 Billion TikTok Dilemma: ByteDance’s Next Move in the U.S. In the world of social media, few platforms have experienced a meteoric rise like TikTok.
a month ago
Calculated Risk
Thursday: Retail Sales, Unemployment Claims, Philly Fed Mfg, Homebuider Survey Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. initial weekly...
a month ago
25
a month ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. initial weekly unemployment claims report will be released. The consensus is for a increase to 215 thousand from 201 thousand last week. Retail sales for December is scheduled to be released.  The...
The Rational Walk
The Digest #185 Capital Allocation, Progressive's strategy, Reading plans, Damodaran's free courses, Looking back at...
a year ago
56
a year ago
Capital Allocation, Progressive's strategy, Reading plans, Damodaran's free courses, Looking back at Alibaba's IPO, Chris Davis, Outsider CEOs, Shareholder activists, Oprah
Bits about Money
Markets in power How physics and infrastructure combine to generate (ba dum bum) the power market.
over a year ago
Calculated Risk
Lawler: Early Read on Existing Home Sales in December From housing economist Tom Lawler: seasonally adjusted annual rate of 4.15 million in December,...
a month ago
25
a month ago
From housing economist Tom Lawler: seasonally adjusted annual rate of 4.15 million in December, unchanged from November’s preliminary pace and up 7.0% from last December’s seasonally adjusted pace. Unadjusted sales should show a somewhat higher YOY % gain, reflecting this...
Citation Needed
Elon Musk and the right’s war on Wikipedia The world's richest man has joined a growing chorus of right-wing voices attacking Wikipedia as part...
2 months ago
39
2 months ago
The world's richest man has joined a growing chorus of right-wing voices attacking Wikipedia as part of an intensifying campaign against free and open access information.
balajis.com
No Cap Fed-killed banks took $100B+ from BTFP to stay afloat, but who's counting?
a year ago
Mazdak
The Rise of Nvidia and the Fall of Intel For 25 years, Intel held a coveted spot in the Dow Jones Industrial Average, a testament to its...
4 months ago
42
4 months ago
For 25 years, Intel held a coveted spot in the Dow Jones Industrial Average, a testament to its influence in the tech world.
Calculated Risk
3rd Look at Local Housing Markets in January Today, in the Calculated Risk Real Estate Newsletter: 3rd Look at Local Housing Markets in January A...
3 weeks ago
10
3 weeks ago
Today, in the Calculated Risk Real Estate Newsletter: 3rd Look at Local Housing Markets in January A brief excerpt: The NAR is scheduled to release January Existing Home sales on Friday, February 21st at 10:00 AM. The consensus is for 4.10 million SAAR, down from 4.24 million in...
Mazdak
Nearly All US Job Growth in November Came From Just 3 Sectors! Did you know? The US economy added 199,000 jobs in November, slightly more than expected. But what's...
a year ago
33
a year ago
Did you know? The US economy added 199,000 jobs in November, slightly more than expected. But what's even more interesting is that nearly all of this job growth came from just three sectors! So, which sectors are we talking about? Healthcare: Leading the pack with a steady demand...
Commoncog
The 2023 Commoncog Recap Everything that we covered in 2023, and what to expect now that Commoncog has a new direction.
a year ago
Commoncog
Goodhart's Law Isn't as Useful as You Might Think Goodhart's Law is useless. It tells you about a phenomenon, but it doesn't tell you how to solve it....
over a year ago
67
over a year ago
Goodhart's Law is useless. It tells you about a phenomenon, but it doesn't tell you how to solve it. We look at how organisations actually prevent Goodhart's Law, and illustrate this with Amazon's Weekly Business Review as an example.
Calculated Risk
NAR: Existing-Home Sales Increased to 4.24 million SAAR in December From the NAR: Existing-Home Sales Ascended 2.2% in December Existing-home sales climbed in December,...
a month ago
68
a month ago
From the NAR: Existing-Home Sales Ascended 2.2% in December Existing-home sales climbed in December, according to the National Association of Realtors®. Sales advanced in three major U.S. regions and slipped in the Midwest. Year-over-year, sales accelerated in all four...
FIRE v London
10 year review Wahoop! I have made it through ten years. In fact, I’ve had a trackable portfolio for over 20 years....
over a year ago
53
over a year ago
Wahoop! I have made it through ten years. In fact, I’ve had a trackable portfolio for over 20 years. But 10 years ago I started tracking my portfolio in a consistent, monthly way – unitising its performance so I could measure its return. It wasn’t until 2015 that I started this...
Mazdak
AI Energy Fears: Overblown or the Next Crisis? Is the fear of AI's energy consumption a tempest in a teapot or a sign of a looming energy crisis?
3 months ago
FIRE v London
Feeling broke My psychology around money has changed significantly over the last two years. While some of that is...
a year ago
112
a year ago
My psychology around money has changed significantly over the last two years. While some of that is captured in my monthly portfolio updates, I thought it was worth recording some of my emotions while they are still fresh. Two years ago Turning the clock back, my financial...
The Rational Walk
The Digest #199 Daily Journal reduces leverage, iPad Pro vs. MacBooks, Independent platforms, Berkshire Hathaway's...
9 months ago
67
9 months ago
Daily Journal reduces leverage, iPad Pro vs. MacBooks, Independent platforms, Berkshire Hathaway's annual meeting, A long run perspective, the parent-therapy trap
Calculated Risk
Monday: ISM Mfg, Construction Spending, Vehicle Sales Weekend: Schedule for Week of March 2, 2025 ISM Manufacturing Index for February. The consensus is...
a week ago
5
a week ago
Weekend: Schedule for Week of March 2, 2025 ISM Manufacturing Index for February. The consensus is for the ISM to be at 50.8, down from 50.9 in January.  Construction Spending for January. The consensus is for a 0.2% increase in construction spending. Light vehicle sales for...
Commoncog
Danny Meyer’s Business Expertise Let's break down Danny Meyer's business expertise as an exercise in biography reading.
7 months ago
Commoncog
The Dangers of Expansion A recurring pattern that seems to show up again and again in business: expansion is dangerous, and...
6 months ago
76
6 months ago
A recurring pattern that seems to show up again and again in business: expansion is dangerous, and everyone really only learns this through pain.
Calculated Risk
ICE Mortgage Monitor: Property Insurance Costs Rose at a Record Rate in 2024 Today, in the Real Estate Newsletter: ICE Mortgage Monitor: Property Insurance Costs Rose at a...
6 days ago
4
6 days ago
Today, in the Real Estate Newsletter: ICE Mortgage Monitor: Property Insurance Costs Rose at a Record Rate in 2024 Brief excerpt: Property Insurance Premiums Increased Sharply in 2024 • The average annual property insurance premium among mortgaged single-family homes rose by a...
Calculated Risk
Schedule for Week of March 9, 2025 The key report this week is February CPI. ----- Monday, March 10th ----- No major economic releases...
3 days ago
3
3 days ago
The key report this week is February CPI. ----- Monday, March 10th ----- No major economic releases scheduled. ----- Tuesday, March 11th ----- 6:00 AM ET: NFIB Small Business Optimism Index for February. 10:00 AM ET: Job Openings and Labor Turnover Survey for January from the...
balajis.com
The Fiat Crisis This is not a financial crisis. It’s a fiat crisis.
a year ago
Calculated Risk
Heavy Truck Sales Decreased 9% YoY in February This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the...
a week ago
4
a week ago
This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the February 2025 seasonally adjusted annual sales rate (SAAR) of 460 thousand. Click on graph for larger image. Heavy truck sales declined sharply at the beginning of the pandemic, falling...
Citation Needed
Issue 62 – Grassroots Coinbase’s Stand With Crypto Alliance fudges the numbers, a (former) crypto industry CEO has a...
7 months ago
92
7 months ago
Coinbase’s Stand With Crypto Alliance fudges the numbers, a (former) crypto industry CEO has a meltdown, and another exchange suffers a nine-figure hack.
Mazdak
Google Releases Gemini 2.0 Flash Google is making bold moves in the AI space with the release of Gemini 2.0, a series of advanced AI...
a month ago
13
a month ago
Google is making bold moves in the AI space with the release of Gemini 2.0, a series of advanced AI models designed to challenge industry leaders like OpenAI, Microsoft, Meta, and Anthropic.
Mazdak
Google Quantum Computer, OpenAI Sora Video Generator and more ... Google just dropped a bombshell in quantum computing.
3 months ago
Calculated Risk
Initial Q1 GDP Tracking: Mid-to-high 2% Range From Goldman: We launched our Q1 GDP tracking estimate at +2.6% (quarter-over-quarter annualized)...
a month ago
17
a month ago
From Goldman: We launched our Q1 GDP tracking estimate at +2.6% (quarter-over-quarter annualized) and our Q1 domestic final sales estimate at +2.3%. We launched our past-quarter GDP tracking estimate at +2.3%, in line with the advance reading. [Jan 31st estimate] emphasis...
The Rational Walk
What I’ve Been Reading Thoughts on the books I read in Q4 2023
a year ago
The Rational Walk
Warren Buffett’s Evolving Estate Plan Warren Buffett has revised his will to leave his remaining assets at the time of his death to a new...
8 months ago
66
8 months ago
Warren Buffett has revised his will to leave his remaining assets at the time of his death to a new charitable trust run by his children.
Citation Needed
Issue 64 – Pointing its arsenal at our friends As parts of the crypto industry scramble to court the Harris administration with events like...
6 months ago
84
6 months ago
As parts of the crypto industry scramble to court the Harris administration with events like “Crypto4Harris”, others insist it is Harris who must “bend the knee”.
Commoncog
Executing on Becoming Data Driven Every analytics project consists of two parts. The technical part, and then the 'get the...
a year ago
48
a year ago
Every analytics project consists of two parts. The technical part, and then the 'get the organisation on board' part. We talk about why the latter is the real challenge.
Mazdak
The Growth Rocket Fuel of Low Gross Margin Businesses When most people think of successful businesses, they think of businesses with high gross margins....
a year ago
26
a year ago
When most people think of successful businesses, they think of businesses with high gross margins. After all, a high gross margin means that a business is making a lot of money on each sale. However, there are a number of successful businesses that have low gross margins. These...
Calculated Risk
Housing Feb 3rd Weekly Update: Inventory Down 0.3% Week-over-week, Up 27.7% Year-over-year Altos reports that active single-family inventory was down 0.3% week-over-week. Inventory always...
a month ago
13
a month ago
Altos reports that active single-family inventory was down 0.3% week-over-week. Inventory always declines seasonally in the Winter and usually bottoms in late January or February. Inventory is now up 1.7% from the bottom three weeks ago. If three weeks ago was the seasonal...
Citation Needed
Sam Bankman-Fried: guilty on all charges Jurors spent less than five hours deliberating before returning the verdict.
a year ago
Citation Needed
We need to talk about digital ownership "Ownership" means ten different things to ten different people. Let's talk about what we actually...
a year ago
The Diff
We Still Have No Idea Whether Passive Investing is a Meaningful Risk Plus! Complements and Strategy; Privacy, Competition, and Scale; Platforms and Ownership; KYC;...
3 months ago
Calculated Risk
MBA: Delinquency Rates for Commercial Properties Increased in Fourth-Quarter 2024 From the MBA: Delinquency Rates for Commercial Properties Increased in Fourth-Quarter 2024...
a month ago
12
a month ago
From the MBA: Delinquency Rates for Commercial Properties Increased in Fourth-Quarter 2024 Delinquency rates for mortgages backed by commercial properties increased during the fourth quarter of 2024, according to the Mortgage Bankers Association's (MBA) latest commercial real...
Commoncog
Dancing Landscapes in Business Cognitive Flexibility Theory creator Rand Spiro on what complexity theory has to say about the...
over a year ago
77
over a year ago
Cognitive Flexibility Theory creator Rand Spiro on what complexity theory has to say about the wickedness of business.
The Rational Walk
The Digest #176 Found Money, OpenAI drama, GLP-1 drug studies, Estée Lauder, Heart valve technology, Edwin Land,...
a year ago
83
a year ago
Found Money, OpenAI drama, GLP-1 drug studies, Estée Lauder, Heart valve technology, Edwin Land, John Oliver skewers dollar stores, Apple regrets, The Great Books Journal
The Rational Walk
What I’ve Been Reading This post is a list of books that I read in the third quarter of 2023, most notably Dominion by Tom...
a year ago
48
a year ago
This post is a list of books that I read in the third quarter of 2023, most notably Dominion by Tom Holland and The Path Between the Seas by David McCullough.
balajis.com
The Start Of Startup Cities Miami demonstrates that the era of startup cities is now underway.
a year ago
Bits about Money
Bits about Money yearly recap and plans What we covered in 2024, what are plans are in 2025, and a solicitation for supporting memberships.
a month ago
Mazdak
Apple’s Next Big Bet? The Future of Robotics and the Smart Home For decades, Apple has been known for revolutionizing industries.
3 weeks ago
Mazdak
5 Sneaky Financial Traps Sabotaging Your Middle-Class Dream (and How to Escape Them) In today's dynamic financial landscape, the middle class faces unique challenges. Building wealth...
a year ago
34
a year ago
In today's dynamic financial landscape, the middle class faces unique challenges. Building wealth amidst rising costs and shifting landscapes requires careful navigation, avoiding insidious traps that can derail your financial goals. This newsletter identifies
Citation Needed
When did cryptocurrency policy become a voter issue? I don’t believe that it has.
7 months ago
Calculated Risk
Housing Dec 16th Weekly Update: Inventory down 1.1% Week-over-week, Up 26.6% Year-over-year Altos reports that active single-family inventory was down 1.1% week-over-week.  Inventory is now...
2 months ago
45
2 months ago
Altos reports that active single-family inventory was down 1.1% week-over-week.  Inventory is now 7.7% below the peak for the year (8 weeks ago). Inventory will continue to decline seasonally until early next year. The first graph shows the seasonal pattern for active...
Calculated Risk
Newsletter: Case-Shiller: National House Price Index Up 3.9% year-over-year in December Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up...
a week ago
6
a week ago
Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 3.9% year-over-year in December S&P/Case-Shiller released the monthly Home Price Indices for December ("December" is a 3-month average of October, November and December closing...
Mazdak
Inflation is Cooling Off: A Glimpse of Economic Stability ☀️ 📰 Highlights Inflation is finally starting to show signs of easing on both sides of the Atlantic....
a year ago
38
a year ago
📰 Highlights Inflation is finally starting to show signs of easing on both sides of the Atlantic. The moderation of inflation is a significant development that alleviates pressure on consumers and provides central banks with some breathing room. Core PCE, the Federal Reserve's...
Bits about Money
Fiction and Finance Recommendations of works of fiction of interest to financial practitioners or enthusiasts.
5 months ago
Mazdak
Meta's Fake AI Profiles, the TikTok Ban, Telegram Updates, and Microsoft's $80 Billion AI Investment... Meta's AI Experiment: What Went Wrong?
2 months ago
FIRE v London
Aug ’23: … A belated write-up of the month of August. Thinking back a month, two stories pop out for me. One...
a year ago
57
a year ago
A belated write-up of the month of August. Thinking back a month, two stories pop out for me. One was the death of Russian mutineer Yevgeny Prigozhin – a larger-than-life modern day warlord, responsible for the ‘little green men’ at the start of the Russian/Ukraine war in 2014,...
The Rational Walk
The Digest #223 Corporate Taxes, Election Gambling in 1916, Berkshire's Cash, Treasury Inflation Protected...
4 months ago
44
4 months ago
Corporate Taxes, Election Gambling in 1916, Berkshire's Cash, Treasury Inflation Protected Securities, Market Prices as Political Predictors, The Three Indias, Semiconductor Progress
The Diff
Moderation, Inside and Out Plus! General-Purpose Technologies; Growth and Concentration; Cross-Platform; The Amazon Model; More...
2 months ago
31
2 months ago
Plus! General-Purpose Technologies; Growth and Concentration; Cross-Platform; The Amazon Model; More Round-Trips
Musings on Markets
The Corporate Life Cycle: Managing, Valuation and Investing Implications! As I reveal my ignorance about TikTok trends, social media celebrities and Gen Z slang, my children...
6 months ago
4
6 months ago
As I reveal my ignorance about TikTok trends, social media celebrities and Gen Z slang, my children are quick to point out my age, and I accept that reality, for the most part. I understand that I am too old to exercise without stretching first or eat a heaping plate of cheese...
Calculated Risk
New Home Sales Increase to 698,000 Annual Rate in December The Census Bureau reports New Home Sales in December were at a seasonally adjusted annual rate...
a month ago
18
a month ago
The Census Bureau reports New Home Sales in December were at a seasonally adjusted annual rate (SAAR) of 698 thousand. Sales of new single-family houses in December 2024 were at a seasonally adjusted annual rate of 698,000, according to estimates released jointly today by the...
The Rational Walk
The Digest #215 Ajit Jain's Berkshire sales, Dollar Stores, Jobs vs Cook on Innovation, Robert Caro, Fact checking...
5 months ago
72
5 months ago
Ajit Jain's Berkshire sales, Dollar Stores, Jobs vs Cook on Innovation, Robert Caro, Fact checking Kamala Harris, Weaponizing political anger, Nick Sleep's letters, Howard Marks on risk
Citation Needed
Issue 52 – I am Sam's low-level culpability Bitcoin prices are spiking. Are we in for another round of crypto mania? Also, Sam Bankman-Fried...
a year ago
89
a year ago
Bitcoin prices are spiking. Are we in for another round of crypto mania? Also, Sam Bankman-Fried doesn't want to go to jail for 100 years.
Mazdak
The 5-Step Blueprint to Achieve Financial Independence Imagine waking up every morning with the freedom to choose what you want to do—not because you have...
a month ago
14
a month ago
Imagine waking up every morning with the freedom to choose what you want to do—not because you have to work for money, but because you want to.
Mazdak
Google's AI Search Tool: A Traffic Nightmare for Publishers? AI Threatens to Shake Up the News Landscape.
a year ago