BofA: All together this raises our PO to $151/sh from $135/sh for XOM and to $206/sh from $188/sh for CVX

Just logged into LinkedIn, where -- apparently -- war doesn't exist.

The war on Iran likely brings a new oil price shock and windfall profits. So, who stands to win? Our research shows: Last time around (2022), the US reaped the largest fossil fuel profits of any country ($377bn). 50% went to the top 1%, only 1% to the bottom 50%. A🧵

Statement from SEIU on the Trump Administration’s Unconstitutional Attack Against Iran, Reckless Disregard for Working People’s Lives:

"Please god just let us nuke Iran, nothing else matters, I'll do anything please I just want to see burning flesh one last time before I die." --Sen. Bloodfeast (D) NY

"To the extent our funds perform well, we can support a better retirement for tens of millions of pensioners, including teachers, nurses and firefighters." -Blackstone 10-K, p.7, filed Feb 28, 2025

From Blue Owl's portfolio holdings list 🫠 www.blueowlcapitalcorporation.com/portfolio/po...

still wondering, what is private credit, again?! join me for a webinar organized by @ourfinancialsecurity.org on wed march 4th at 3pm et us06web.zoom.us/webinar/regi...

Interesting development. Stirrings of dissent among the rank and file tech sector workers. www.ft.com/content/7bbc...

Story with @michellema.bsky.social www.bloomberg.com/news/feature...

👀 www.reuters.com/legal/govern...

This was literally a Simpsons joke THIRTY YEARS AGO Marge: Can we get rid of this Ayatollah t-shirt? Khomeini died years ago. Homer: But, Marge, it works on any Ayatollah! Ayatollah Nakhbadeh, Ayatollah Zahedi...

If there’s an audiobook, I hope this soundtrack plays on loop in the background.

This is the last of the old posts that we're republishing here before moving on to new material. Up next (hopefully soon) will be part 2 in this case study.

Narrator: they will not understand it. "'With retail exposure to alternative investments becoming more common, we want to help everyday investors understand the different valuation approaches used in these products,' said Brian Daly, Director of the SEC’s Division of Investment Management."

the thing that's so funny re Jensen & Meckling is that they're just mad about managers getting non-pecuniary perquisites like "an attractive office staff" and thick carpets & in their model outside equity is *non-voting* this is the bible of shareholder primacy! 🤷‍♀️

Reform coming for local government worker pensions www.pensions-expert.com/lgps/unions-...

I have a new review paper out in @environmentalpol.bsky.social! ✨ What would it actually take for states to pursue green transformations? I identify 5 capacities — planning, disciplinary, strategic, legitimation and adaptive — and their respective policy elements, capabilities and institutions

And it begins… www.pionline.com/institutiona...

New Rhodes Center Pod just up. Great conversation with Alex Cooley and Alex Dukalskis about their new book Dictating the Agenda. AKA - How authoritarians go from playing defense other than offense. Great book. Read it. But listen here first: player.captivate.fm/episode/5e16...

Important stuff from @leeharris.ft.com on how the US life insurance industry loaded up on private credit www.ft.com/content/b6be...

"@grok, put the cobalt price in a bikini"

Lol, no

I didn't realize that Oaktree was still involved in residential housing in Ireland. About 10 years ago, my jaw dropped when I started looking how they structured the acquisition of distressed mortgages (in the aftermath of the GFC) to avoid taxes in the country.

@markgmaurer.bsky.social on how FASB accounting rules lump together data center build outs with more rapidly depreciating chips, making the disclosures difficult to understand. www.wsj.com/articles/ai-...

"“Limitations” in the rules mean AI companies may not have to account either for the cost of renewing a data centre lease or for the cost of not renewing it, even though either number could be huge" Accounting gaps for real estate-related liabilities? Those never cause any trouble, right?

Workers' capital -pension funds - pushing for AI to replace workers is one of the exquisite ironies of the financialised welfare bargain

"large language models such as ChatGPT were consistently advising women to ask for lower salaries than men in recruitment processes,... AI tools already in use by more than half of England’s councils were downplaying women’s medical conditions, potentially resulting in unequal care"

Stonepeak Infrastructure Partners' K-shaped portfolio holdings: superyachts and deportation flights. giftarticle.ft.com/giftarticle/... www.motherjones.com/politics/202...

Woodrow Wilson in the 1912 campaign: "The high cost of living is arranged by private understanding."

"The coastline alone $50 billion of value on a conservative basis” Apollo's Marc Rowan.

I wrote about how unregulated finance is now just, well, finance for @phenomenalworld.bsky.social the center of gravity in finance has completely shifted & our mental models & policymaking approaches need to catch up www.phenomenalworld.org/analysis/fin...

Hard to overstate how certain we can be that this is, in fact, going to end badly. @robinwigglesworth.ft.com on the gutting of the SEC. www.ft.com/content/b5d9...

Remarkable piece by @melindacooper.bsky.social for @equatormag.bsky.social www.equator.org/articles/eps...

🙃 www.ai-cio.com/news/la-cais...

private credit funds: why sell to outsiders when you can just sell to yourself (*cough cough* & private equity too *secondary funds*) it's almost as if the whole goal is to make money by moving money around

I guess we're getting the fire-sale-to-institutional-investors stage before the unload-institutional-investors-holdings-to-retail stage.

Must be nice to own a data provider that can make the case for your higher fee products www.pionline.com/asset-manage...

fresh audio product: • Naomi Hossain @naomihossain.bsky.social on politics in Bangladesh • Stuart Schrader @stschrader1.bsky.social on “authoritarianism from below”—the role of local cops in the Trump crackdowns www.leftbusinessobserver.com/Radio.html#S...

TIL there are 18 PE-backed car wash operators and Leonard Green is doing an LBO of one of them for the second time.

“This is the ‘killer app’ and its precise method of killing you will be social scientists boring you to death talking about it.” So far I’m enjoying the talk, including this post. But can see how lethality may soon increase.

It’s ok, Karp carries the spirit of the American worker with him on the world’s first completely anti-woke private jet.

This is fine 😐 www.bloomberg.com/news/article...

If you appreciated my @nybooks.com article, you'll love my new book Blue Power: How Police Organized to Protect and Serve Themselves, out from @basicbooksgroup.bsky.social in April. Order with discount code BLUE20 at www.hachettebookgroup.com/titles/stuar...

Teachers unions think Apollo may have misled folks back in 2021 about its Epstein ties. Published this 2+ hours ago. Still no comment from Dechert, which did the investigation. www.axios.com/2026/02/17/e...

Want to explore the EPI State of Working America Data Library in #RStats? The 🐣 swadlr 🐣 package lets you search available datasets and pull time series directly economic.github.io/swadlr/