eqx

[Arnaud Bertrand @RnaudBertrand]

You can say what you want about Iran but they're definitely pretty unique in their communication: never seen a country threaten another with a math equation before 😅

For those who didn't get it: there is a famous monetary policy formula used by the Fed called the "Taylor rule" that says a central bank's policy rate (i) should equal the neutral real rate (r*) plus target inflation (π*), plus 1.5 times the inflation gap and 0.5 times the output gap (the "i = r* + π* + 1.5(π−π*) + 0.5(y−y*)" part of Ghalibaf's formula).

Ghalibaf adds α(SOH−SOH*) and β(BEM−BEM*): SOH referring to the Strait Of Hormuz and BEM to Bab El-Mandeb. Both have positive coefficient, meaning the more those chokepoints are choked, the higher the rate the Fed would have to set to fight the resulting inflation.

In a nutshell this is Ghalibaf trolling the Fed, telling them that Iran is - in a very real way - setting American monetary policy.

[soothsayer @iamasoothsayer]

2023: Corona ended
2026: Hantavirus

[Patrick OShaughnessy @patrick_oshag]

My guest today is Paul Tudor Jones (@ptj_official), one of the greatest macro traders of all time.

He correctly predicted the 1987 stock market crash and shorted the Japanese bubble in 1990. For over 40 years, his flagship fund has had a negative correlation to the S&P 500. 100% of his returns are alpha.

He says today's market has so many similarities to 2000, "the easiest bear market I've ever seen in my whole life."

He makes the case for going long dollar-yen, why Bitcoin beats gold as an inflation hedge, and why he was wrong about Warren Buffett.

But what I'll remember most from this conversation is Paul's zest for life. He's 71 and still wakes at 2:30 every morning to trade the London open. He works out for two hours a day. He walks with his wife every evening. He travels the country chasing peak spring and peak fall. He's so excited about the songs picked for his funeral that he wishes he could be there to hear them.

Paul has lived five lifetimes in one. He's one of the most entertaining and interesting people I've met, and the conversation will leave you searching to be as passionate about what you do as he is about what he does.

Enjoy!

Timestamps:
0:00 Intro
1:00 The Kindest Thing
13:19 Trading vs. Investing
17:33 Lessons from Warren Buffet
22:24 The Existential Risks of AI
29:54 The Nature of Trading
31:46 Bitcoin
35:55 Bubbles
42:08 A Day in the Life of PTJ
46:00 Information Overload
47:07 Passion for Markets
50:49 The Robin Hood Foundation
54:18 The Workless World
56:03 Journalism
1:00:00 Principal Components of a Great Life
1:05:06 Kill Them With Kindness

[Robert @LacertaXG1]

if you have found yourself numbly looking at bbg in the last two weeks without being able to focus... understand that this is a physiological response to sustained stress. Under temporary stress, your locus ceruleus fires in short bursts and helps you lock in..

[Avi @AviFelman]

Hong Kong is one the greatest cities the planet, would be #1 if 1997 never happened

[Alexandra Semenova @alexandraandnyc]

wealth managers putting your money in an index fund

[CBB @Cbb0fe]

The correlation between screen time and financial success is insanely high.

Literally all the dudes in crypto I know who were spending a shit ton of time on the screen trying to do stuff and answering fast are millionaires now.

No coincidence.

[Bryan Johnson @bryan_johnson]

My magic mushroom longevity experiment found a metabolic reset button in the brain. We expected brain changes, but not a potential metabolic breakthrough.

The discovery: my blood glucose control dramatically improved.

+ before: top 2% of population
+ after: top 0.2% of population
+ better than 99.75% of 18-25 yr olds
+ mean glucose dropped 8%
+ time above 125 mg/dL: zero min
+ variability dropped 11%

This single session reduced my estimated HbA1c by 6.8% from 4.7% to 4.4%.

Why does this matter? We treat diabetes and metabolic dysfunction with chronic daily medication (Metformin, Insulin, GLP-1s). This data suggests that a neuroplastic event might have downstream effects on the liver and pancreas that mimic or exceed these drugs.

For context, taking Metformin daily takes 6 months to drop it 10-15%.

This is a first in-human observation, with comparable pre-clinical evidence existing only in rodents.

[Eric Balchunas @EricBalchunas]

Bitwise just filed amendment for its Hyperliquid ETF which added the 8a thing, the fee (67bps) and the ticker $BHYP. Usually that means launch imminent. Stay tuned.

[jeff.hl @chameleon_jeff]

Those who can, do
Those who can't, fud

Before writing a paper maybe learn the definition of what you are studying? ADL does not "transfer pnl to HLP." It treats HLP entirely symmetrically with users. **ADL has nothing to do with HLP or backstop liquidations**

ADL did not "destroy $653 million of pnl" either. If you don't understand what you're talking about, you are not qualified to spread lies masked by fancy ML terms to sound smart. It's a shame that these are the "academics" that the industry looks up to.

[smolting (@wassie) @inversebrah]

q4 2025

[Legendary @Legendaryy]

Someone asked @cobie why he even cares to help Coinbase and play customer support. Here’s what Cobie had to say. Absolutely beautiful answer.

[SMB Attorney @SMB_Attorney]

Wow... Warren Buffet says goodbye in his final annual letter today (full copy in the comments below).

As he signed off, the following were final words of advice:

"One perhaps self-serving observation. I’m happy to say I feel better about the second half of my life than the first. My advice: Don’t beat yourself up over past mistakes – learn at least a little from them and move on. It is never too late to improve. Get the right heroes and copy them. You can start with Tom Murphy; he was the best.

Remember Alfred Nobel, later of Nobel Prize fame, who – reportedly – read his own obituary that was mistakenly printed when his brother died and a newspaper got mixed up. He was horrified at what he read and realized he should change his behavior.

Don’t count on a newsroom mix-up: Decide what you would like your obituary to say and live the life to deserve it.

Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government. When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior.

I write this as one who has been thoughtless countless times and made many mistakes but also became very lucky in learning from some wonderful friends how to behave better (still a long way from perfect, however). Keep in mind that the cleaning lady is as much a human being as the Chairman."

[CBB @Cbb0fe]

If I had $50k in crypto now, I would:

1. Get a remote job. Automate everything during first few weeks. Free up time to lock in.

2. Move to a cheap but comfy country in SEA.

3. Skip $BTC / $ETH / $SOL. Too late for you.

4. No memecoins. No leverage. Ever.

5. Allocate $30k to farm perp DEXs. Focus on low-volume pairs only (<$20m). Delta neutral strategy.

Example: long on Extended + short on Lighter.

6. Deploy $15k on prediction markets. Find a crypto dude in the US you trust (or vice-versa). Delta neutral together between Polymarket & Kalshi.

7. Allocate $5k to farm $MEGA & $MON at mainnet. Use dApps. Trade on it. Experiment things. Be EARLY. Dump as soon as you receive your bag and move on.

8. Document everything on CT. Don't share referral, don't shill things for InfoFi points.

9. Monitor @echodotxyz sales. Don't buy anything. Lock-ups are too long for you. Learn about new projects. See how you can provide value to them at early stage.

Show up daily. Avoid the degen gambling. You can make it. Good luck.

[CBB @Cbb0fe]

If I had $500k in crypto now, I would:

1. Be full-time crypto.

2. Move somewhere cheap and comfy: Thailand or Bali.

3. No memecoins, no leverage. Ever.

4. $50k on Aave used to cover life expenses for +1 year.

5. $200K into megaETH farming at mainnet launch. No sybil, team isn’t dumb.

Expect farm to reward actions, not just TVL. Asymmetric upside here.

6. $50K into Pendle. Study YTs, track daily, set limit orders, wait for whales to ape PTs to get a good entry.

7. $100K into Extended. Delta-neutral with GTE when live. Strong team, still low volume.

8. $100K on Aave ready for bloody days.

Goal: Survive. Don't lose everything. Scale over time.

[CBB @Cbb0fe]

https://t.co/MxV9ruhGAa

[eqx @eqx66]

@monad 0x170a2730da50507d8db0149e9b54dd6f0ca515e6

[Jordi Visser @jvisserlabs]

https://t.co/gCWSQ3bk8M

[Hsaka @HsakaTrades]

slurped a little

[Clemente @clementetv_]

The average Hyperliquid holder be like