Zach Finley

"Life is an economy of time" Feed is for personal use, no professional opinions. You are welcome to read along!

[FactPost @factpostnews]

Trump announces that he is terminating 3 million acres of national monuments, opening them up to drilling, mining, and industrial development.

[Ben Pouladian @benitoz]

In February I told readers to watch one ServiceNow metric

In April the company deleted it

The $NOW thesis now runs on two clocks, and one of them resolves July 22

Plus where Bloom stands after my call with @SammyKoppelman of Hunterbrook

$BE

https://t.co/CvVwiRmuTo

[Policy Tensor @policytensor]

We are getting to the point where they might call the American bluff and start sinking named warships. Everyone understands what has been proven in the Black Sea.

[Amena Bakr @Amena__Bakr]

US has directly struck Kharg Island oil infrastructure (western jetty pumping station + pipelines) — first confirmed hit on Iran’s core export terminal; fires visible via satellite. #OOTT

[Scott Lincicome @scottlincicome]

"The Trump administration, now Intel’s largest shareholder, has also taken a hands-on approach to the company... This type of state capitalism is unprecedented"
https://t.co/FgtHmgqU0s

[Stephen Miran @SteveMiran]

Once again the link https://t.co/SIbF4dqT4A

[Michael Pettis @michaelxpettis]

This may be a bit technical for those who don't spend a lot of time on trade and capital flows, but Brad Setser continues to argue (plausibly, in my opinion) about discrepancies in China's trade data that may understate domestic imbalances.
https://t.co/LDpmmIS7sK

[Clifford Asness @CliffordAsness]

Sure, it’s “interesting” if obviously false #s can be interesting. But now that UBS made this asinine table that doesn’t deal with different retirement systems at all (not that this is easy), the left and will be repeating “the Portuguese are richer than Americans” until doomsday (an arrival they live to hasten).

[Robert Parenteau, CFA @MacroEdge1]

Long before the equity analysts start revising EPS estimates down, b4 book/bill ratios crest in semis, anecdotes from direct experience call into question the exuberance built into future cash flow expectations. At a certain point, enough of these accumulate to tip the narrative.

[Jeremy Allaire - jerallaire.arc @jerallaire]

Today I'm sharing something I've been building toward for years: The Agentic Economy, a treatise on the convergence of intelligence and the economy.

As AI agents take on the work of the firm and value moves natively on open, programmable networks, the agentic economy and the onchain economy turn out to be the same economy, seen from two sides.

It's a personal work. Enter at whatever depth you like: a 60-second thesis, a short read, the full treatise, an audiobook, or visual maps.

https://t.co/fvaCMLWl3f

[Satya Nadella @satyanadella]

https://t.co/xv6csf1SbV

[VolMachine @VolMachine]

I think BofA strategists are very right that the next set of defaults would effectively be about secular EBITDA compression.

[DeLong🖖 @delong]

..."When nothing seems to matter". How is it that a creaking republic lets a mediocre strongman and those best described as his Three Stooges commandeer a superpower...
< https://t.co/GUypQS5gO2 >
2026-07-12 4/END

[SpotGamma @spotgamma]

High-Beta Momentum factor had its worst 5-day performance since COVID

h/t @zerohedge GS

[Hunter📈🌈📊 @StatisticUrban]

Saudi Arabia has been stagnant for ages and instead of using its immense, finite oil wealth to capture the market in a long-term, geopolitically relevant, high value industry (like Taiwan and chips) they're blowing it on vanity projects and second tier sports teams.

Incredible.

[Will Manidis @WillManidis]

the Ken Griffin / Goldman interview is massively under-discussed for many reasons, greatest of which is it's a perfect example of Anglo-Modernity

there is no companies but through sovereignty, american state capacity now rests inside of GS/Citadel/Allen rather than state/fed

[Scott Lincicome @scottlincicome]

"Why recruiters can’t find workers and new grads can’t find jobs (it’s not AI)"
https://t.co/y4kuarnc1D

[Sid Prabhu @sidprabhu]

We are in a different regime. The Phillips Curve has shifted and is no longer as flat.

[Skanda Amarnath @IrvingSwisher]

Treasury QE is not as powerful as its promoters and its critics think.

In fact you really have to strain and squint just to find identifiable impacts on the Treasury market

QE effects more relevant further out the risk spectrum, where markets are less liquid and less elastic