Jack Kearney, CAIA, CPA, FDP

[Governor Tate Reeves @tatereeves]

Who??

[junkbondinvestor @junkbondinvest]

“Can you turn the lights down? I want to show you something.”

[Ole Miss Football @OleMissFB]

The 'Sip ➡️ DC

Trey Amos is heading to the @Commanders‼️

Round 02 | Pick 61

#HottyToddy x #RaiseHail

[Phil Huber @bpsandpieces]

We democwatized pwivate cwedit in an ETF wapper and you didn’t say tank you once

[Jack Kearney, CAIA, CPA, FDP @JJKearneyII]

@rhunterh Just ordered - thanks for the rec!

[Joe Weisenthal @TheStalwart]

The NYT reports that due to pressure from the Trump administration, the Mexican drug cartels haven't felt this much stress in years, with leaders going into hiding and shutting down fentanyl labs

[Trung Phan @TrungTPhan]

Gary Gensler walking out of the SEC office for the last time after seeing Trump launch a memecoin that goes from $0 to $24B in 12 hours

[High Yield Harry @HighyieldHarry]

M&A activity with Lina Khan on the way out

[Matt Bateman @mbateman]

The French Polymarket whale commissioned polls with a specific alternate methodology, the “neighbor method”

1. What a baller

2. What a killer example of how betting markets can surface contrarian, high quality signals

[Altidar @AltidarSK]

New: Altidar’s BDC Custom Comparison tool lets you evaluate over a dozen non-traded BDCs side-by-side. Compare returns, fees, leverage, PIK, and more—all in one place.

[Altidar @AltidarSK]

Weekend reads in alts:
· The impact of Apollo's insurance strategy
· Morgan Stanley lets advisors pitch BTC ETFs
· Interval fund fee math
· More managers eye interval fund launches
· DC offices drained

[Tren Griffin @trengriffin]

"The challenge is when you are faced with the prospect of holding on to a valuation, or raising a down round. If you don’t do it, you run the risk of shutting down later. But if you’re close to shutting down, no one’s gonna invest in you."

Hans Tung, Notable Capital

[Win Smart, CFA @WinfieldSmart]

Major U.S. Banks with the Most Real Estate Exposure

[Altidar @AltidarSK]

Weekend reads in alts:
- Loan valuation red flags
- BREIT fulfills 100% of redemption requests
- Alts platforms fail to attract family offices
- Pensions cool on private credit
- NYC rental rules help hotels

[Thomas Reiner @treiner5]

$LYFT in their release said 500bps of EBITDA margin expansion (as a % of GBV) in 2024 and just said on the call it's actually 50bps

Stock went from +65% to +11% 😂

[KanekoaTheGreat @KanekoaTheGreat]

Judge Kathaleen McCormick rescinded Elon Musk's $55 billion Tesla compensation package, overturning the company's board and 80% of its shareholders.

McCormick also ruled against @elonmusk during his Twitter acquisition.

Before becoming the head of the Delaware Chancery Court, McCormick worked at a Delaware law firm called Young Conaway.

This firm and its employees have been major donors to President Joe Biden for decades.

In 2016, Hunter Biden hosted a gubernatorial campaign event for Congressman John Carney, with then-Vice President Joe Biden as the guest speaker.

This event took place at the Law Offices of Young Conaway in Wilmington, Delaware.

Carney, a close friend of Joe Biden for the last four decades, later became governor and nominated Kathaleen McCormick, a partner at Young Conaway, to her position on the Delaware Chancery Court.

In a March 2018 email, Hunter Biden claimed to personally know every judge on the Delaware Chancery Court while threatening legal action against his Chinese business partners.

"I will bring the suit in the Chancery court in Delaware - which as you know is my home state and I am privileged to have worked with and know every judge on the chancery court."

After Elon Musk purchased Twitter with the stated goal of restoring free-speech, President Biden called for a federal investigation into Musk on the podium at the White House.

Following this, the Biden Department of Justice, Securities and Exchange Commission, and Federal Trade Commission initiated legal actions and investigations against Tesla, SpaceX, and X.

This recent decision by Judge McCormick, who worked with Biden's top donors and was nominated by Biden's close friend, to override Tesla's board and the majority of its shareholders is another clear example of the Biden administration and its allies weaponizing the American legal system against their political opponents.

[David Perell @david_perell]

This story about Square shows the kind of scrappiness that helps you become a $41 billion company.

[The Transcript @TheTranscript_]

An interesting snippet from the New York Community Bank Earnings Call today with an analyst saying:

"Your stock is at 25 year low. I can't imagine you're happy with this. I don't know why you wouldn't take this opportunity to level set expectations"

[Andrew Ross Sorkin @andrewrsorkin]

I remember this morning very well. I had spoken to @elonmusk by phone earlier and written a column in @nytimes for that morning and then went on the air with the news. The truth is I thought the comp plan was the most “skin in the game” in history. I still do. I have criticized CEO comp a lot — but not this package. Without the incentives, he could have easily stepped down as CEO and then where would have @Tesla been? Admittedly, I was skeptical he’d hit the most ambitious targets of the package. But he did — having put his entire comp at risk. Isn’t that what we want when we say “pay for performance?”