Eugene

[First Squawk @FirstSquawk]

LAGARDE: RISKS TO INFLATION TILTED TO UPSIDE

[Financelot @FinanceLancelot]

Jeff Bezos was right in 2025 when he warned AI was a giant bubble because there was no plan for profitability.

“Investors don’t usually give a team of six people a couple billion dollars with no product... and that’s happening today.”

[Peter Boockvar @pboockvar]

A great listen as it’s rare to hear a long form interview with Jamie Dimon.

[Sean Strickland @SStricklandMMA]

Listen little mother fuckers

Open a highyield account. Save up 3 month of life

Then open a Fidelity go with FXAIX
Any solid fund

Invest every dollar you have in it

When draw from your high yield stop Investing, refill high yield. Then back to Investing. I believe in you YNs

[George Noble @gnoble79]

Don't be surprised when you see an ETF fall 30% in ONE day.

Everyone in this market is playing the same game:

They know prices are stretched, but they stay fully invested because they're convinced they'll be the first ones out the door when things go wrong.

Millions of investors all standing next to the same exit, all believing they'll beat everyone else through it.

But there's a BIG problem with that plan.

On the way up, nobody complained because we were all drunk on making money. But the car also runs in reverse.

Look at the mechanics underneath this market:

There is record leverage, zero DTE options everywhere, levered ETFs stuffed with the same crowded names, and a mountain of trend-following money. If the market rises X, the CTAs have to buy Y.

But what happens when it goes DOWN?

Two weeks ago, I said the trap door was going to open under these crazy tech stocks, and that the best short opportunities of my 45 year career were in semis, Mag 7, and the consumer.

Two weeks later, the semiconductor index is down nearly 20% from its record. That is bear market territory.

The Nasdaq fell almost 3% this week. Micron dropped more than 10% in a single day.

I also said the next $10 to $15 in crude was UP while retail speculators sat record short. Crude went from under $72 to over $82 and the shorts got carried out on stretchers.

AI is the BIGGEST bubble the world has ever seen.

My good friend Julian Garran at MacroStrategy Partners estimates the malinvestment at 17 TIMES what we saw in dot com.

Tell me about the cash flows. Tell me about the return on investment.

WHERE IS IT?

Tech-related names are roughly 40% of the index. When this train wreck finishes, it takes the indices down with it.

My positioning:

I own resource and energy stocks, hedged, and I am short consumer discretionary and tech. That trade works whether the market goes up or down.

And if you're going to panic, panic early.

[Fox News @FoxNews]

BREAKING: Two people have climbed to the top of the Empire State Building in New York City, holding a banner from the skyscraper's antenna reading, "When the power of love beats the love of power, the world knows peace."

As of now it's unclear how the pair reached the top of the building as police work to get them down from the spire, 1,454 feet above the ground.

[Tracy Shuchart (𝒞𝒽𝒾 ) @chigrl]

10000% worth your time to watch this. Fantastic all star panel discussing energy realities.

[Elon Musk @elonmusk]

In the future, a trillion times a trillion dollars will be spent on making antimatter to travel to other star systems

[unusual_whales @unusual_whales]

"I will hold my SpaceX shares forever," Shaun Maguire of Sequoia, whose firm has a 1.5% stake in Musk's company., has said

[Katherine Boyle @KTmBoyle]

“It is certainly hard to believe that a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever.”

Only in America. Congratulations to @elonmusk @SpaceX. This is the American Dream 🇺🇸💪🚀

[Steve Burns @SJosephBurns]

What do you think triggered the big stock market selloff Friday? 🔽

[TheStockGuy @TheStockGuyTV]

Every stock you don't own looks like this right now

[Machiavelli Bot @UnmodernmanBot]

Most betrayal is not sudden. It is rehearsed in small permissions you ignored. Small lies. Quiet envy. Convenient forgetfulness. The final act shocks you only because you refused to study the earlier moves. Pain is expensive pattern recognition.

[World of Statistics @stats_feed]

In the corporate world, emails are no longer used for actual communication. They now serve as official records, providing evidence in case of potential setups or backstabbing, and documenting the exact dates when documents were sent for review and approval.

[Rekt Fencer @rektfencer]

🩸 GLOBAL BLOODBATH

Indian market: DUMP
Turkish market: DUMP
Chilean market: DUMP
Brazilian market: DUMP
Indonesian market: DUMP

This is one of the WORST months for many countries for years.

[Holger Zschaepitz @Schuldensuehner]

Good Morning from Germany, where the road to socialism is paved with ever-rising govt consumption. Since 1999, state consumption is up 63%, while GDP has risen only 31% and capital investment a meagre 16%. The public sector keeps expanding, but the investment base is stagnating. Germany is becoming less of a market economy and more of a state-led redistribution machine.

[Barchart @Barchart]

Berkshire Hathaway $BRK.A has now dumped stocks for 14 consecutive quarters, the longest selling streak in its history 🚨🚨🚨

[Tracy Shuchart (𝒞𝒽𝒾 ) @chigrl]

🪙 Central banks are expected to step up gold-buying, helping prices to recover by year-end, according to Goldman Sachs Group Inc.

Purchases are expected to pick up to average 60 tons a month over 2026. Under a revised framework for estimated accumulation, the 12-month moving average of purchases was 50 tons in March, up from a prior figure of 29.

For central banks, there’s “strong underlying interest in gold, and recent geopolitical developments are likely to reinforce diversification,” the analysts said, citing an in-house survey.

Gold has struggled since the outbreak of the war in the Middle East, as higher energy costs have raised worldwide inflationary pressures, making central banks less likely to ease policy. With no end to the conflict in sight, global bond markets have sold off, putting pressure on non-yielding gold. (Bloomberg)

[Barchart @Barchart]

BREAKING 🚨: Turkey

Turkish Lira falls to an all-time low against the U.S. Dollar 🇹🇷📉 Now down 98% since 2010 🤯👀

[zerohedge @zerohedge]

BofA's Hartnett: "bubbles always end with sharp jump in yields…JGBs +230bps in ’89, USTs +260bps in '99, China +150bps in '07"