ARichless

Here to learn

[Lyn Alden @LynAldenContact]

Wait, you're telling me that running $2 trillion deficits, introducing new taxes on goods, and starting a fresh war in the Middle East, has not been effective at getting the cost of living down?

[Lance Breitstein 🇺🇸🌎 @TheOneLanceB]

HOW TO GET HIRED AT A TRADING FIRM

I’m always getting emails by young eager traders asking what is the best way to get hired by @TRLM or @SMBCapital. Having spent years recruiting, interviewing, and hiring traders for Trillium’s Chicago office, here are my thoughts:

Hiring decisions at trading firms are a lot like placing a trade. The hiring manager’s goal isn’t to eliminate risk, it is to find the candidates with the highest expected value. The firm doesn’t know whether a candidate will become profitable, fit the culture, handle adversity, or justify the time and capital invested into them. Just like in trading, there are no guarantees.

When a trading firm hires someone, they’re effectively asking themselves:

“Given the probability this person succeeds and the magnitude of that success if they do, is this a better bet than the thousands of other applicants?”

So your job as a candidate is to differentiate yourself by answering the question for them of what makes you a better risk than the other candidates?

If you don’t have a clear answer to that question, that’s the first problem you need to solve.

Some examples of things that can increase your expected value in the eyes of a trading firm:

> A legitimate trading track record that demonstrates actual skill or sustained passion.
> High-level achievement in other performance-based pursuits such as chess, video games, poker, or other environments where decision-making under uncertainty matters.
> Being a D1 athlete or elite competitor who has already proven they can take coaching, handle pressure, make sacrifices, and pursue excellence over many years.
> Evidence of unusual persistence and initiative. Attending meetups. Networking with traders. Building relationships. Following up professionally. Showing that you’re willing to do more than submit an application and hope.

But differentiation alone isn’t enough. The second challenge is communicating that differentiation.

Who can convey and best prove to me that they won’t quit early and that they are a great risk?

It is on YOU to find ways to make the firm understand why you are the best risk they can take. That can happen through a great application. Through networking. Through getting to know traders at the firm. Through attending events. Through sharing thoughtful market research. Through demonstrating your work ethic and curiosity over time.

The reality is that many qualified candidates never get hired because they fail to communicate their strengths. Meanwhile, other candidates create opportunities because they make their value obvious.

The next question is one of fit. Trading firms all have different cultures. It’s your job to consume their webpage, any of their content, and network with their traders so that you understand what makes their culture unique to them and whether you actually align with that. Faking it seems smart in the short-term, but just leads to a poor fit for both parties over the long-run.

IMO, the biggest fear I had when hiring candidates was whether they would stick out the learning curve. Most people just can’t persevere while failing for 2 years.

Think like you are in their shoes.

If a firm is allocating capital, time, mentorship, desk space, technology, and management resources into a new hire, what evidence would make you want to place that bet?

Build those traits. Then make sure the right people know they exist.

If not selected, life goes on! Hiring decisions are imperfect. It doesn’t mean you’re a failure or that you won’t be a great trader. It doesn’t mean you can’t apply again next year.

The best thing you can do is keep on refining your craft, exhibiting passion, and improving yourself over time.

[The Rabbit Hole @TheRabbitHole]

One person is known for creation.

The other person is known for weaponizing jealousy by telling people who to envy.

[The Kobeissi Letter @KobeissiLetter]

This is absolutely insane.

President Trump is currently flying to China with all of the following people to request "deals" with China's President Xi:

1. Elon Musk, Tesla and SpaceX CEO
2. Jensen Huang, Nvidia CEO
3. Tim Cook, Apple CEO
4. Larry Fink, BlackRock CEO
5. Stephen Schwarzman, Blackstone CEO
6. Kelly Ortberg, Boeing CEO
7. Brian Sikes, Cargill CEO
8. Jane Fraser, Citigroup CEO
9. Larry Culp, General Electric CEO
10. David Solomon, Goldman Sachs CEO
11. Sanjay Mehrotra, Micron CEO
12. Cristiano Amon, Qualcomm CEO

President Trump also says there are "many other" CEOs joining him on the trip who have not yet been disclosed.

Never in history has such a trip even remotely near this scale and caliber occurred.

This Trump-Xi meeting is far bigger than most realize.

[The Kobeissi Letter @KobeissiLetter]

While April CPI inflation rose to 3.8%, inflation is much higher in many basic necessities:

1. Energy Commodity Inflation: +29.2%
2. Gasoline Inflation: +28.4%
3. Airfare Inflation: +20.7%
4. Energy Inflation: +17.9%
5. Electricity Inflation: +6.1%
6. Fruits and Vegetables Inflation: +6.1%
7. Hospital Services Inflation: +5.5%
8. Motor Vehicle Repair Inflation: +5.1%
9. Apparel Inflation: +4.2%

This has driven cumulative inflation since 2020 to +29%, meaning goods that cost $100 in 2020 now cost $129 today.

Inflation remains a major issue for Americans.

[ARichless @ARichless]

@SenWarren @JetBlue @SpiritAirlines @JusticeATR @USDOT Spirit going under isnt an isolated mrkt failure.. its the downstream effect of policy choices. Blocking consolidation in a cap-intensive, low-margin industry w/out a viable path forward doesnt protect consumers - it weakens the ecosystem @SenWarren @JusticeATR @USDOT
@USDOT

[Chamath Palihapitiya @chamath]

On page twenty-six of “The Billionaire Tax” proposal in California, it explains how the state legislature can convert from a Billionaire Tax to an Everyone Tax without voter approval.

They can also adjust the tax to be a yearly tax, not just one time…again, without your approval.

Intelligence test for you: if this was meant to just target Billionaires, why did they write this in?

[kevin smith @kevin_smith45]

Zohran Mamdani: “Billionaires won’t leave New York if I raise their taxes”

Ken Griffin: “I’m leaving New York”

[Neo @Realneo101]

🚨PRINCE REZA PAHLAVI JUST WENT FULL NUCLEAR ON THE ENTIRE EU PRESS & PARLIAMENT! 🔥🧨

I want to speak DIRECTLY to the people of Europe. In the past two weeks I held TWO MAJOR press conferences — one in Stockholm, one in Berlin. Over 150 JOURNALISTS showed up. We spent MORE THAN TWO HOURS with them…
And guess what?
NOT ONE SINGLE of those 150 journalists asked about the 40,000 IRANIANS SLAUGHTERED on the streets of my country on January 8th and 9th!

NOT ONE asked about the 19 political prisoners EXECUTED in the last two weeks.

When I told them 20 more are currently sentenced to death — CRICKETS. Not a damn question.
I stood right next to a grieving mother and father who lost their sons in that massacre and begged them to listen to their stories…
NOT A SINGLE ONE of those 150 journalists asked them a thing.

Let that sink in.

My 40,000 BRAVE INNOCENT COMPATRIOTS who were butchered fighting for liberty? They don’t give a damn.

They are too busy criticizing America and Israel for taking out the dictator who’s been slaughtering our people for 47 YEARS — instead of going after the regime that’s actually doing the killing!
They’d rather dig up Iran’s history than talk about what’s happening RIGHT NOW or the free democratic Iran we’re fighting for.

One EU parliament member even had the nerve to say Iranians aren’t ready for democracy. To that coward and to every fake journalist in the room I say this:

Iranians aren’t just “ready” for democracy… 40,000 of them just DIED for it! And I will NOT let their blood be in vain.

SO HEAR ME LOUD AND CLEAR:

Whether Europe stands with us or not…
Whether your journalists do their damn jobs or not…
Whether your politicians grow a spine or not…
I WILL FIGHT FOR MY PEOPLE AND MY COUNTRY.

Even if we have to do this ALONE — we are fighting until IRAN IS FREE! 🇮🇷💪

#RezaPahlavi‌ForIran
@PahlaviReza

[RYAN SΞAN ADAMS @RyanSAdams]

This is an absolute indictment of American Capital Markets.

Our best companies are closed to the public.

Only wealthy have access.

You can blame the billionaires all you want, but the truth is regulation made this so.

[Dave Portnoy @stoolpresidente]

I’m not the biggest Ken Griffin fan from the GameStop saga days. But I’d love for him to give Zohran a big fuck you and pull his construction plans and pull the hundreds of millions he pays in taxes and charity. NYC officials are hilarious. All they do is say they hate rich peole and then beg them to stay and pay for all their useless shit. There was zero reason for Zohran to antagonize Griffin except to appease his yellow and purple haired communist base. He could have still initiated the tax without trying to be Mr Cool Guy Communist and rubbing people’s faces in it. Why would any rich person stay there? NYC wanted a communist mayor. They got a communist mayor.

[Sam Callahan @samcallah]

I wrote this over four years ago, and it still holds true today:

“Altcoins almost always attempt to create the illusion that their token is decentralized, but this is just that: an illusion.

In the vast majority of cases, team members and insiders hold a significant share of the coin’s supply, and there’s usually a founding team that can unilaterally control the protocol.

This kind of false advertising is so prevalent within the altcoin space that it led SEC Commissioner Hester Peirce to invent a term for it: “DINO,” short for “Decentralized in Name Only.”

And without fail, this deception is exposed when these altcoins inevitably run into problems that require the team to interfere with the protocol to “fix”
it, proving that it was never decentralized in the first place.”

[Luke Gromen @LukeGromen]

American strategists: “We are going to cut off China’s oil, thereby wrecking China.”

China’s response? Geopolitical/oil politics version of Good Will Hunting: “Give us the wrench…because f*ck them. That’s why.”

[Luke Gromen @LukeGromen]

If I was a US oil exec witnessing how Hormuz’s closure for 7 weeks (& counting) has left US oil prices far below global prices while E&P stocks (XOP) have underperformed SPX since March 2, I’d cut 2026 capex, lay down rigs, & just cash flow existing production & buy back stock.

[WestHarlm @WestHarlm]

I'm devastated by this news. I can't sleep. I'm so tired of the corruption in NYC.

You can buy a fully operational grocery store in NYC right now for $3M — you'd be open and running in a month.

Instead, Mamdani is blowing $30M of taxpayer money and taking 3 yrs to build a new one from scratch.

There is no logical reason to build a $30M taxpayer funded grocery store, when you can buy 10 that are already built out, for the same $30M.

There is a Costco and an Aldi less than a mile away. Easily accessible by the crosstown bus on 116th or via non-profits that deliver groceries for free.

This grocery store isn't about helping NYers.

This is corruption: payoffs to contractors, unions, local politicians, and insiders. Why waste $30M when the solution already exists?

NYC is headed to a very dark place.

If you think corruption in MN and CA is bad... you ain't seen nothing yet.

Get out of NYC asap.
@BillAckman @RubinReport @NassauExec @elonmusk @apolloglobal

[Ram Ahluwalia CFA, Lumida @ramahluwalia]

UTILITIES

Not sure why anyone would want to own utilities here.

(1) Higher inflation would hurt bond proxies. Higher rates mean lower bond prices. Utilities would need to sell off to offer higher rates to investors.

(2) New semi chips mean less energy demands for datacenter going forward.

Notice the nuclear IPPs are all acting quite poorly.

(3) Utilities were a safe haven during the Iran conflict.

When the conflict wraps up, that safe haven will unwind.

(4) Utilities are technically overbought AND the worst sector in the S&P 500 today.

[My Global Feed @MyGlobalFeed1]

@KobeissiLetter A stalemate over Hormuz was almost inevitablethis is the core issue. The U.S. wants free passage, Iran wants control and leverage, and neither side can really back down.