Varun Awasty

[Varun Awasty @VVA2222]

@alma271828 There will never be anyone like you Alma, pure respect only🫡

[Varun Awasty @VVA2222]

@Crowded_Mkt_Rpt @MarioNawfal What part of the cycle is this?

[Varun Awasty @VVA2222]

@gurgavin If you have to ask🤣🤣🤣🤣

[Varun Awasty @VVA2222]

@piyushchaudhry This time is different?😈

[Varun Awasty @VVA2222]

@PauloMacro BTFD opportunity loading at some point this year imo🤞

[Varun Awasty @VVA2222]

@piyushchaudhry If your portfolios going ahead dont have exposure to this sector going forward than you will be leaving a lot of alpha on the table. Not to mention the relative underperformance fomo.

[Varun Awasty @VVA2222]

@dampedspring

[Varun Awasty @VVA2222]

@dampedspring Dispersion, its a wonderful place😈

[Varun Awasty @VVA2222]

@dampedspring Whooooooo

[Varun Awasty @VVA2222]

@piyushchaudhry Today the elephant discovered the keyhole is really tiny🤣🤣🤣, fireworks still pending

[Varun Awasty @VVA2222]

@piyushchaudhry Cas reminds of the pinball machine

[Varun Awasty @VVA2222]

@piyushchaudhry Waiting for the ‘higher lows’ crowd meets the concept of an elephant looking to get through the keyhole called CAS

[Varun Awasty @VVA2222]

@dampedspring Here we go again🤣🤣

[Varun Awasty @VVA2222]

@Akveq_ Between now and diwali - one peak entry in gold is coming, dont miss this dip✈️

[Varun Awasty @VVA2222]

@piyushchaudhry 2026 bull market loading?🤣

[Eric Jackson @ericjackson]

Bloomberg broke that a LeBron James entity borrowed ~$300M from two life insurers against his non-NBA income, and wrote that "terms are otherwise scant in the records reviewed by Bloomberg."

I bought the records. Midland National (66044) and North American (66974), 2025 annuals.

`49549*-AA-3` secured term loan, 4.800%, funded 03/06/2018, matures 12/01/2049. **NAIC 1.E PL.** `49549*-AB-1` secured term loan A-2, 5.750%, funded 09/01/2022, matures 12/06/2056. **NAIC 1.G PL.**

NAIC 1 is the top tier, the treatment given to high grade corporate debt.

PL means private letter rating. The filing withholds the agency and withholds the analysis. What surfaces is the grade and the capital charge that follows from it.

Matt Levine asked that morning whether a LeBron bond "could be an investment-grade credit instrument." It is. It's in the filing.

Then I counted the rest. **658 privately rated positions across the two insurers.** King James Funding is 2 of them. Three lines below LeBron sits Vanderbilt University Medical Center at ~$102M.

⚠️ ~$11.8B of ~$78B is a proxy pending confirmation of the dollar column. The COUNT of 658 is solid. Treat the dollars as an order of magnitude.

Sammons has >$147B in assets and >1.7M policies. Guggenheim was the sole asset manager until 2021 and still runs ~73% of the book.

LeBron has done nothing wrong. His spokesperson calls it a securitization of personal non-NBA income, the 2022 deal was NBA-approved, and Bloomberg says plainly there's no link to the Walter inquiries.

He's the door. The room is 658 positions graded in a way nobody outside can read.

They had the sources. I had the filings. Anyone can buy them.

[Varun Awasty @VVA2222]

@piyushchaudhry Treasury's buybacks of longer duration paper is NOT money creation.Not a single $1 is being created. What they are is a lowering of duration held by the private sector, Which, ceteris paribus, is an easing of financial conditions. And yes bullish for gold

[Varun Awasty @VVA2222]

@amitisinvesting And that’s why He’s the King

[Varun Awasty @VVA2222]

@SubhadipNandy16 Synthetic futures maybe key to unlocking today imo

[Varun Awasty @VVA2222]

@piyushchaudhry Piyushji when this starts getting priced in will be the real test of all those technical ‘supports’