Today should have been a ripper — but once again spiking oil and rates caused bulls to moderate. There was strength in AI related stock, chips — but most else fell by the wayside. Naturally, as markets retrenched the IGV lunatics were back at it, with both the IGV and SMH acting inverse to one...Read More

People aren’t paying enough attention to Jensen’s $500b SPV gambit to fund AI projects. We are on the cusp of Wall St securitizing AI debt, which is going to make everyone rich. The capital that Apollo would normally have to hold onto illiquid for 5 years will now be bundled and sold to pensions or...Read More

I will keep my seething at a minimum. Market were fancifully higher this afternoon, as Matt and I cavorted the Research Triangle in search of artisan tacos. Whilst I burned my stomach on some fucking Korean spicy pork tacos, Silverlake was rumored to buy WDAY — sending ALL OF THE FUCKING software stocks to the...Read More

CPI data was benign, but not great. As expected. Markets took that as license to rip higher, based off strong corporate profits. We gained 93bps and reduced cash to 7.7%, adding to SBUX, KLAC, starting 0.5% positions in ARM and BLZE. After wash sales expire, I might buy back some of my favs higher —...Read More

We have max fud ahead of tomorrow’s CPI numbers — betwixt by surging enthusiasm for higher oil prices and the much better than expected earnings reports. After the close, solid reports out by a handful of AI related names and for the session we had a mixed bag with the vendors surging ahead while the...Read More