Every market has a fellow who is certain the prices are wrong and that he alone knows the right ones. Usually the market charges him tuition for this belief. Occasionally, it hands him the Treasury.
Consider the record. In 2000, Scott Bessent left Soros to run $1 billion of his own. Five years later, the fund no longer existed. In 2015 he tried again with Key Square, co-founded with Soros alum Michael Germino and seeded with $2 billion of Soros money — which is a bit like failing your driving test and being handed a Ferrari. Assets peaked at $5.1 billion in 2017 and finished 2023 at $577 million. Institutional investors reportedly went from 180 to 20, a retention rate that would embarrass a gym in February. And in 2018, Soros — the man who staked him — took his chips off the table. When your own anchor investor would rather not watch, that is not typically a buy signal.
Which brings us to the question: is the man now confidently dictating where oil, the dollar, Treasury yields, and stocks ought to trade a macro mastermind the market tragically failed to appreciate? Or did the market spend two decades doing its due diligence on him — and sell? He believes he’s smarter than the market. The market already graded that exam. Twice.
Imagine being thrown out of a political rally for speaking out against pedophilia.
I miss living in a country in which we all agreed that rªping children was bad.
Many of you are asking how you can help me.
My only ask is this: Spread the word about the threats to democracy and how we can fight back. Tell everyone to subscribe to Democracy Docket and share its content. https://t.co/7W0yoPHmq2
Editor in Chief of Stars and Stripes Erik Slavin speaks out after he was fired by the Pentagon today: "They said that I was insubordinate for responding to a hypothetical about censorship and saying it was a red line... I reaffirmed what the law says, what the DOD regs say, which is that Stars and Stripes is meant to be free of news management and censorship."
Overview of Upton Sinclair's Novel THE JUNGLE
•The Core Plot: The book follows Jurgis Rudkus, a Lithuanian immigrant, and his family as they attempt to achieve the American Dream in Chicago's "Packingtown" meatpacking district. Instead, they face extreme poverty, wage slavery, horrific workplace injuries, and structural exploitation.
•The Intended Message: Sinclair, a passionate socialist, wrote the book to expose the brutal oppression of the working class and the cruelty of unchecked capitalism.
•The Public Reaction: Rather than sympathizing with the workers, the public was deeply outraged by the graphic descriptions of rotten meat, rat infestations, and chemical adulteration in their food supply. Sinclair famously noted: “I aimed at the public's heart, and by accident hit it in the stomach.”
•Historical Impact: The public uproar directly prompted President Theodore Roosevelt to launch federal investigations. This led to the immediate passage of the Pure Food and Drug Act and the Meat Inspection Act of 1906, laying the foundation for modern food safety regulations.
In Indiana, what started as a simple maternity photo shoot quickly turned into an unforgettable moment, thanks to Buckshot, arguably the most photogenic horse in the county.
Amanda and Phil, the expecting couple, wanted their horses to be part of the shoot since they consider them family. But Buckshot wasn’t content with just being in the background. Instead, he posed front and center, flashed a grin, and completely stole the show.
Photographer Kristen Zaffiro shared that when she jokingly asked Buckshot to smile, he actually did. And the more she laughed, the more he played along, hamming it up like a natural in front of the lens. The result? A photo session no one could have planned, but everyone will remember.
Congress spent months opening the Boundary Waters to copper mining.
It passed. Trump signed it. Twin Metals celebrated.
Nobody thought to check whether Minnesota had to go along with it.
Tim Walz checked.
https://t.co/Pftgm5cTil