Apercus Tosh

Dead Parrots,
Mapping coast,
Surely You're Joking, Mr Feynman!,
If I did not kill the rat, he would have died,
Would you like to play questions?,
Bird by Bird

[Apercus Tosh @ApercusTosh]

$NVDA investing simplified, great leadership and phenomenal team executing strategy- dominant GPU & auto drive tech. https://t.co/pKRupy4ZXZ

[Ophir Gottlieb @OphirGottlieb]

WATCH: $NVDA This Crown Jewel Just Crushed Earnings
https://t.co/HAnAenvpJq

Video Trade Card is Happening. Period.

[Joseph Younis, MD @YounisJoseph]

The breakthrough isn’t the median survival rate doubling, it’s the fact that they’ve finally managed to create a drug that can target the RAS(on) state, rather than selective KRAS mutations. This makes it the first multi selective RAS inhibitor that’s clinically proven to work. The implications are huge. KRAS mutations are found in:
1. 90% of pancreatic cancers
2. 40-50% of colorectal
3. 20-40% lung
4. 19-23% of ALL cancers

[Samuel Hume @DrSamuelBHume]

A short thread on why this is so important

1. Many trials have been done in this setting, all of which failed to improve (or incrementally improved) the standard of care

Daraxonrasib inhibits the oncogenic driver, producing a step change in survival and laying the new foundation of therapy

[Apercus Tosh @ApercusTosh]

@chandnirao_here @DrSamuelBHume @claudeai Thank you for sharing your elegant visual.

[Apercus Tosh @ApercusTosh]

@SoumayaKeynes @greg_ip Congratulations to both of you. I look forward to reading your book.

[Apercus Tosh @ApercusTosh]

@profplum99 Congratulations to you and your entire family, especially your son, on this most impressive achievement.

[Apercus Tosh @ApercusTosh]

@stevehou @Silicon_Data @carmenli Congratulations!

[Apercus Tosh @ApercusTosh]

@stevehou @tracyalloway Congratulations. Thank you for sharing your insights, and all the best with your future endeavors.

[Apercus Tosh @ApercusTosh]

@BeeRyanOD @RealJasonKidd @NotoriousOHM Mr. O'Donnell I wish you all the best with your battle. Fight on, "Undaunted and Undefeated!"

[Michael Green @profplum99]

Now consider that products like $VOO at 3bps don't make money (much) from "revenues", but rather security lending fees generated from lending out their near unlimited shares are the source of profits. So small ETF providers take the hit disproportionately. Higher fee "hot sauce" pays more to the platform for each dollar of client access, despite occupying no more (typically less) shelf space. Incentive to promote these.

Will inevitably lead to a U-shaped distribution -- high fee, levered garbage hot sauces with near zero fee indexing. Little in the middle.

Twinkies with hot sauce. Yum. /s

[Robert Sterling @RobertMSterling]

If you’ve ever worked in finance, you know women like this are a force of nature, especially at top-tier banks. They might not be the “rainmaker” bringing a deal in, but they’re often the ones making sure the deal actually gets done, the client gets their win, and the bank gets its fees. They’re smart, hard-working, usually the most focused and disciplined person in the room, and utterly ruthless.

If you’re capable and you show them professional respect, they will move mountains for you. If you’re lazy, dumb, or a roadblock, though, they won’t hesitate to steamroll you and leave your body in an alley behind the building. The definition of no better friend, no worse enemy.

You’d have to to be insane to pick a fight with someone like this, especially if the facts of the case aren’t completely on your side. We’re not even 24 hours into this story and it’s already clear the guy who tried dragging this woman through the mud is likely the dumbest dude who’s ever had a job on Wall Street. He truly has no idea what he’s done or what he’s in for.

[Apercus Tosh @ApercusTosh]

@themylesfiles @marimo_io Dynamite. Thank you.

[Quantіan @quantian1]

You're telling me that for the past 50 years there's been a one-line closed form expression for Black-Scholes inverse volatility that nobody bothered to discover until some rando shadow dropped this on ArXiV? https://t.co/2rjhCEVxQG

[Apercus Tosh @ApercusTosh]

@Brad_Setser Sir, you are a benefactor of wisdom. Thank you for most generously sharing your acute analysis of trade. Your insights have provided the framework for understanding the complex interconnections of policy decisions and their consequences for so many of us across the globe.

[Apercus Tosh @ApercusTosh]

@RonConway Wishing you a speedy recovery. "Fight on, Undaunted and Undefeated!"

[Apercus Tosh @ApercusTosh]

@TheHeadyStuff @patrickc I wish you and your family, especially your son, all the best and a speedy recovery. Fight on, "Undaunted and Undefeated!"

[Block Club Chicago @BlockClubCHI]

From early Nirvana to Phish, a Chicago fan’s secret recordings of 10,000 shows are now online. https://t.co/yfhmXPTYWt

[Michael Pettis @michaelxpettis]

Brad Setser is pleased to see the IMF conceding that intervention by a country in its currency and external accounts “can systematically generate real exchange rate depreciation and raise current account balances”.

He is being quite polite. We have known for decades that a country’s external imbalances must always be perfectly consistent with its internal imbalances, one implication of which is that if a country’s industrial policies result in the creation of persistent domestic imbalances, it can only maintain those policies to the extent that it controls its external account in ways that allow it to externalize these domestic imbalances.

So, for example, if a country’s financial system is designed mainly to take household and business saving and direct this saving into approved investment at very low interest rates, it has to control its capital account to prevent domestic saving from flowing abroad.

Or, as another example, if a country’s industrial policies require transfers from the household sector to subsidize manufacturing, this is likely to lead to persistent trade surpluses, in which case the country must intervene in the currency to prevent its appreciation from reversing those transfers. An appreciating currency reverses these transfers by effectively subsidizing households (households are net importers) and taxing producers of tradable goods.

This is nothing new. Keynes showed many decades ago that with a few, fairly obvious exceptions (when trade partners – e.g. rapidly growing developing countries, Europe and Japan after WW2, etc. – need to import capital for domestic investment purposes), persistent manufacturing surpluses are prima facie evidence of domestic interventions whose domestic costs are being exported to trade partners.

Without some form of intervention in the currency or the trade and capital accounts, in other words, policies that lead to domestic imbalances are much harder to maintain.

[Matt Stoller @matthewstoller]

Today I released an investigative piece on something most people don't think about until they really need it - ambulances. The price of ambulances has skyrocketed since 2012. Why? It's likely... private equity.
https://t.co/q4WMOV5HUD

[Chris Anderson @chr1sa]

I love this story.

First, Boom's jet engine supplier, Rolls Royce, pulls out of the supersonic airliner deal. That should have been the end of the story. As GE often says, "if you want to compete with us in jet turbines, you needed to have started 30 years ago", because that's how long it takes. So it would be crazy to start now.

But Boom didn't fold up tents. They said they were going to make their own jet turbine. Good luck 🙄

But they started anyway, and then "a miracle occurs": the AI datacenter boom creates unbounded demand for gas turbines, creating at least a 4-5 year backlog with existing manufacturers.

And because the Boom terrestrial turbine power plants don't have to be certified by the FAA, that takes a decade off their path to market!

So now 90% of the company is working on the turbines, with a huge pipeline of orders, and they're going to be a huge energy company, regardless of whether they ever ship an airplane or not.

What a great testament to resilience. Just keep moving forward and eventually the path will become clear. Action creates information.

[Apercus Tosh @ApercusTosh]

@AJamesMcCarthy Congratulations. Thank you for sharing your inspirational story. Your passion and unrelenting determination have captured astounding images which deeply resonate. I am looking forward to following your evolving journey and brilliant eye.