Jay

[Jay @Jay10080106]

Are leveraged ETFs wealth creators or traps? New Harvard research by Murray & Sammon finds broad index LETFs have generated $100B+ in gains, while single-stock LETFs — often issued near peak volatility — suffer from heavy volatility drag and high costs.

[Cassandra Unchained @michaeljburry]

What's happening.

[Thierry from arvy 🇨🇭 @ThierryBorgeat]

The most reliable indicator in markets isn't on a Bloomberg terminal.

It's on the magazine rack.

Late April 2026: The Economist runs a cover arguing oil prices are not yet high enough. Brent days later: $114. The exact top.

July 2, 2026: The Economist publishes "We woz wrong about oil." Brent: $71. Down 37%, and the apology prints near the low.

This isn't The Economist being stupid. Their journalists are excellent. That's exactly the point. To understand why this keeps happening, follow the incentive.

A newspaper's product is not the truth. It's your click. And nothing gets clicked like confirmation. When oil has already doubled, a cover saying "it goes higher" flatters every reader who's long, every trader who's bullish, every fund manager who needs to feel smart about the position he already has. The bearish cover at that moment sells nothing, because almost nobody wants to read that they're wrong.

So the boldest covers arrive precisely when a view has become universal. Not because editors are fools, but because that's when the view sells best.

Which means the cover is data. It certifies the moment when everyone who could buy the story already owns it. And when the last buyer is reading about his own genius at the newsstand, there is only one direction left.

Magazines sell you the feeling you already have. Markets charge you for it.

[The Kobeissi Letter @KobeissiLetter]

Shocking stat of the day:

Adjusted Stablecoin volume is projected to reach $719 TRILLION by 2035, according to a new report from Chainalysis.

This projection is assuming organic growth alone. When factoring in macro catalysts, Chainalysis says this figure could approach $1.5 quadrillion.

In fact, Stablecoin payment volumes are on pace to match Visa and Mastercard’s off-chain transaction volumes somewhere between 2031 and 2039.

This comes amid a massive shift toward Stablecoin infrastructure, with Western Union, $USDPT, Fidelity, $FIDD, Meta, and many other Fortune 500 companies preparing launches.

The ecosystem is also evolving, such as Jupiter's $JUPUSD, which returns yield back to the ecosystem and has been attracting large inflows.

Stablecoin adoption is skyrocketing.

[Jay @Jay10080106]

Correlation check: As Semis go, so goes the market. @sstrazza highlighting the SMH/SPX overlay as a key leading indicator in his latest newsletter. Thoughts?

[Jay @Jay10080106]

@aiwithjainam AI

[Mustafa @oprydai]

how to study and learn really difficult subjects:

1. don’t panic. hard just means dense. it’s not impossible, it’s just packed. unwrap it slowly.
2. get a map before diving in. watch an overview video, read the table of contents, or skim the wikipedia page. you need context first.
3. use multiple sources. one book will confuse you, two will clarify, three will enlighten.
4. build intuition, not memory. visualize it. simulate it. code it. teach it to a friend or a wall.
5. tolerate confusion. you’ll feel dumb 90% of the time; that’s the price of learning something that rewires your brain.
6. connect it to reality. every abstract thing has a real-world analog. find it. relate it. ground it.
7. revisit the same topic after a week. mastery is not about reading once; it’s about returning after your brain has “chewed” on it.
8. don’t romanticize genius. smart people aren’t born knowing it. they just survived longer in the confusion phase.

the truth is; learning hard stuff isn’t about intelligence.
it’s about endurance, humility, and curiosity.

you stay long enough in the fog until it clears.

[bubble boi @bubbleboi]

Yeah I guess you got a point. I mean if you’re trying to become a world class mathematician that can win a Field’s Medal you need to start early or else you might not have a chance…….

SIKE! Last person to win a field’s medal didn’t even major in math in college he majored in Journalism!!!! He didn’t start doing any real math until his *checks notes* 6th YEAR IN COLLEGE.

You can literally GRIND your way to ANYTHING !!!!

[Jay @Jay10080106]

Thanks @iancassel
It is a beautiful newsletter. Loved it.
https://t.co/ZUyIOlMty0

[Divyesh Vaghela @DivyeshVaghela_]

Hello @TeamYouTube
Awaiting for your response in DM

My Gmail account & Youtube Channel is hacked.

Channel link- https://t.co/9aceNrrTKJ

I have tried everything to recover my Gmail account but unable to do so.

Please help. I have Shared more info in dm.

[Peter Robbins @prrobbins]

As hard as it is for many to follow their rules it’s even harder to know when to change the rules to stay relevant.

[Peter Robbins @prrobbins]

For many the real choice is get rich slowly or get poor quickly.

[Peter Robbins @prrobbins]

Powerful thoughts have a powerful impact on our behaviour for better or for worse.

Change your thoughts for the better and change your life.

[Peter Robbins @prrobbins]

It is often beneficial to challenge your assumptions and possible biases before placing any trade.

This is a good way to eliminate a number of bad trades before they happen.

[Peter Robbins @prrobbins]

The foundation of any trade is an edge. (Strategy)

Without it you have no chance of success.

Building on that foundation is the ability to execute. (Mindset)

Only with the right mindset can you ensure success.

[Peter Robbins @prrobbins]

Surfers don’t ride every wave. They wait patiently for the right one that will give them the best experience.

[Peter Robbins @prrobbins]

The higher the percentage of capital you are willing to lose on any one trade the higher the probability you will blow up your account.

[Peter Robbins @prrobbins]

Trading success is harder to achieve when your livelihood depends on it.

Financial freedom may take many years to achieve but will come faster and easier if you have another source of income to support you on your journey.

[Peter Robbins @prrobbins]

Your greed may be a reason for allowing yourself to be scammed but it does not justify being scammed. Be careful out there.