Trump appears to suggest he was lifted out of the rubble on 9/11: "Two fireman, big strong guys, they grabbed me under the arms -- 'got to get our of here!' -- and they literally lifted me up, and they started running with me."
I was an intern under Seb in 2020. Unfortunately, the allegations of unscrupulous behavior is 100% believable. I am glad that the mask is off publicly. I really hope he doesn't weasel out of this.
https://t.co/Pe6e6cK920
My working thesis for a few weeks now has been that all these downside longs would expire, the street would end up short skew, and the whole dynamic would change.
That is not happening.
Fresh supply keeps arriving. On the fixed strike map there is a lot of green stacking up into the September expiries, so systematic sellers are still handing the street downside vol. And there is some red on the upside too, so skew is being sold to the street again.
So maybe I am wrong. It looks like the street stays supplied with skew for at least the next couple of weeks, and if that is right then the flip I was waiting for gets pushed further out or does not come at all.
I would rather say that out loud now than quietly re-date the thesis every week until it eventually happens and I claim the call.
modern travel is increasingly flying 10 hours to experience a slightly different version of the same globally optimized lifestyle.
same third wave coffee. same natural wine bar. same brutalist menu. same sourdough. same beige hotel. same tasteful ceramics. same instagram lighting.
what a ridiculous convergence.
In America “Labor Day” means everyone with a fake email job gets the day off and actual laborers have to work twice as hard to keep up with the extra demand created
BREAKING 🚨: Housing Market
Google Searches for "Can't Afford Home" soar to highest level in history, surpassing even the peak of the Global Financial Crisis 🤯 👀
jane street reported over $20 billion in trading revenue in 2024. for years, its US commodities risk ran through one excel file:
"US commodities risk.xlsm. you'd press a button and it would pull in data about our trades and positions and crunch some numbers. it worked, except occasionally when it didn't."
"you get to a point where no one fully understands what the spreadsheet is doing, though some people know a lot and are pretty sure."
somewhere inside every firm there's a spreadsheet nobody fully understands, holding everything together.