Alessandro

[Alessandro @alessandro_ffm]

Der Mensch soll um der Güte und Liebe Willen dem Tode keine Herrschaft einräumen über seine Gedanken.

Thomas Mann

[Alessandro @alessandro_ffm]

💯

[Alessandro @alessandro_ffm]

Sollte es irgendwann zum Blutbad am US-Aktienmarkt kommen, wird die Panik größer als je zuvor sein.

Und es wird zu hektischen und panischen Reaktionen der Notenbanken führen.

Langfristig bleiben Edelmetalle unterstützt.

[Alessandro @alessandro_ffm]

Google erstmals mit negativem Free Cash Flow seit 20 Jahren.

Sehr gespannt, ob sich die enormen Investitionen in KI am Ende für die Investoren rentieren werden.

[Alessandro @alessandro_ffm]

Doing nothing is often the best strategy in markets and life.

[Alessandro @alessandro_ffm]

Still wondering why the market gives this high valuation premium to the $AAPL stock. Compared to the rest of the market and also to its own history.

[Ankor Inclán @ankorinclan]

En octubre de 2011, Luis de la Fuente fue despedido del Deportivo Alavés después de nueve jornadas. Las llamadas dejaron de llegar. Pasó dieciocho meses sin trabajo.

Siguió yendo al mismo bar a desayunar. Siguió leyendo el periódico. Un día de 2013 encontró un anuncio pequeño en las páginas de deportes: la Real Federación Española de Fútbol buscaba entrenador para sus categorías inferiores. Llamó a Iñaki Sáez, antiguo seleccionador, que lo conocía. Mandó el currículum. Esperó.

La Federación le ofreció el puesto. El contrato duraba tres meses. La misión: clasificar a la sub-19 para el Europeo de Lituania. Sin garantías más allá de eso. De la Fuente firmó el 1 de mayo de 2013.

Lo que vino después fue un trabajo invisible. Campos juveniles, contratos cortos, categorías que nadie sigue. En 2015 ganó el Europeo sub-19 con un equipo que incluía a Rodri, Mikel Merino y Unai Simón. Luego la sub-21. Luego la absoluta. El 19 de julio de 2026, en el MetLife Stadium de Nueva York, levantó la Copa del Mundo.

Trece años después del anuncio en el periódico.

La carrera de De la Fuente no tiene la narrativa habitual del crack que triunfa: no dirigió al Madrid ni al Barça, no pasó por ningún gigante europeo, no tuvo un momento de revelación brillante que el mundo aplaudiera. Tuvo dieciocho meses sin llamadas, un anuncio pequeño, un contrato de tres meses y la decisión de presentarse.

[Alessandro @alessandro_ffm]

What the wise man does in the beginning, the fool does in the end.

[George Noble @gnoble79]

We are witnessing the unwinding of the biggest bubble in financial history.

Every crash I lived through started the same way:

A genuinely good idea captures the imagination, then it gets carried to an absurd extreme.

As Buffett put it, what the wise man does in the beginning, the fool does in the end.

The names change but the pattern never does. Fear and greed, over and over.

So let me take you back to the last great top, because I had a front row seat:

I started shorting tech in the fourth quarter of 1999, and I was early enough that it hurt. Then in February 2000, the manager of the single best performing growth fund on the planet announced, "If it's not tech, it's drek."

You know how it ended.

The Nasdaq lost nearly 80%. Julian Robertson closed Tiger. Fidelity's second best manager had his fund pulled. Merrill's chief strategist was shown the door.

Did all of them suddenly get stupid? No. The market lost its mind, and then it came to its senses the hard way.

I'm watching that same arrogance right now. The difference is this time is WORSE, not better.

The malinvestment in this AI buildout is at 17 TIMES compared to what we saw in dot com.

This boom is far more asset intensive, and the dollars are far larger relative to the economy.

And whenever you see hubris stacked on top of debt, you RUN, you don't walk.

That's why I think Oracle can go bankrupt. That's why I think OpenAI WILL go bankrupt.

The combination of ego and leverage never ends any other way.

The market lost its mind, and it's now starting to come to its senses.

[Alessandro @alessandro_ffm]

@plan0815 Kein Gemini?

[Alessandro @alessandro_ffm]

Argentina Expected Goals after 90 minutes.

0.0

#ESPARG

[Alessandro @alessandro_ffm]

Highly deserved - the SPD has ruled in 24 of the last 28 years and managed the country to the ground.

[Crazy Ass Moments of German Politics @gerpol_moments]

Linke surpassed SPD in the polls for the first time today.

If these were the election results, SPD would be the smallest parliamentary group for the first time ever

[Alessandro @alessandro_ffm]

@gerpol_moments Highly deserved - the SPD has ruled in 24 of the last 28 years and managed the country to the ground.

[Eamonn Butler @eamonnbutler]

A reminder, Andy, of the Thatcher era:
•⁠ ⁠Income tax: 83% → 40%
•⁠ ⁠Basic rate: 33% → 25%
•⁠ ⁠Inflation: 21.9% peak (1980) → 2.4% (1986)
•⁠ ⁠Days lost to strikes: 29.5 million (1979) → 1.9 million (1990)
•⁠ ⁠Real pay for the average earner: up by a third

[Boring_Business @BoringBiz_]

Top regrets of people in the last twelve weeks of their life

Live your life accordingly

[Alessandro @alessandro_ffm]

Margin debt growth is back in rare territory.

Historically, these "euphoria" phases were followed by higher volatility and deeper drawdowns. By contrast, margin debt contractions below -25% often marked excellent buying opportunities.

Liquidity drives markets

[Alessandro @alessandro_ffm]

@CFlanders7 buy the $JPY when things start to turn negative...

[OptaJoe @OptaJoe]

12% - Average possession between Anthony Gordon's opener and Lautaro Martínez's winner (55th to 92nd minute):

12% - 🏴󠁧󠁢󠁥󠁮󠁧󠁿 England
88% - 🇦🇷 Argentina

Trapped.

[Alessandro @alessandro_ffm]

Wie gierig ist bitte Argentinien?

Mentalitätsmonster

#ENGARG

[Alessandro @alessandro_ffm]

Ein Armutszeugnis für sämtliche Parteien.

[Alessandro @alessandro_ffm]

@TobiasEscher Thomas Tuchels Handschrift