I have a lot of opinions about today and will try to word them briefly and broadly. First off, we closed the session about flat, a nice end of day rally got us back to par. Markets were volatile all session, with money spilling out of risk into very specific areas of the tape. You...Read More

High beta sleeves are magical on the way up, ruinous in reverse. We shed 185bps today, partly saved by the face ripper session in BLZE. Here is that news.Backblaze (BLZE) announced an agreement with CoreWeave (CRWV). Under the multi-exabyte, $335M agreement, Backblaze will provide cost-efficient storage capacity that supports portions of CoreWeave’s managed storage infrastructure, helping optimize...Read More

Good Day — As to be expected, we continued to outperform today, gaining +83bps crossed against a miserable SPY and QQQ — +116bps over SPY. Year to date, we are now +21.5%, or 12.3% better than SPY.We only nibbled on XOM today, which I feel is an excellent entry price — now below pre-Iran war...Read More

Today I will subjugate my family to watching Hamnet together. I first saw it on our trip to Japan and was stunned by it. Fair warning, you will cry during it and if you do not cry — it might mean you’re an android or some other form of post humanoid.I typically like to grill...Read More

Good Day — I am happy to report gains of +151bps for the session, +47 over SPY. It had been a lot more over SPY but some oddball shenanigans took place 5 mins before the close — looked like index rebalancing boggings in several holdings. YTD we are now approaching gains of +21%, of course...Read More