What's absolutely wild about this is the way they've manufactured a global financial crisis for no reason at all. This isn't 2007-08, where it was a bubble bursting. This is taking a relatively thriving economy and deliberately destroying it in the first three months of your presidency.

JPMorgan's David Kelly on tariffs: am.jpmorgan.com/us/en/asset-...

Musk loves the pro-Nazi Afd party in Germany, praises criminal and racist Tommy Robinson, and loves the Nazi salute. That's fine. But according to him USAID which literally saves lives around the world is "evil" and a "criminal organization." This is what you voted for, America.

1/ Musk seeking control over nerve systems of the federal government. As someone who spent a decade studying how centralized information systems are used for coercion this is a five alarm fire. We need to name it, identify risks, and seek to mitigate their impacts. www.nytimes.com/2025/02/01/u...

What's unfolding here is unbelievable.

This is heartbreaking and that is the point. Create as much chaos and misery as possible while creating a huge purse of $ to try and plunder.

BREAKING: Latest horror a distraction from many other horrors

Such a dark day.

No healthy republic operates this way.

Yup, @jamellebouie.net has this exactly right. What these guys are celebrating/pursuing/yearning for is not masculine energy, it's *adolescent* energy. Drinking Red Bull, crushing Call of Duty, refusing to clean your room. It is indescribably pathetic. www.nytimes.com/2025/01/18/o...

Make America Grift Again

it is *wild* how a primary effect of unspendable wealth can be making someone incomprehensibly thin-skinned

This.

Between Landman, Lioness, and The Agency, Paramount+ has quickly captured some of my mindshare.

Another disappointing, though sometimes fun, season ends. #Steelers

Brad Jacobs' How to Make Few Billion Dollars is not shy on imagination.

I don't understand the point of having fuck you money if you never say fuck you.

Lioness season 2. Wow.

Cry more. If you want client assets, be better at your job.

And away we go.... #2025

The circling back has begun and it's as rough as advertised.

The left keeps waiting for, is desperate for, the "Wait until they see" moment. It's not going to happen. There is no level of cognitive dissonance that will shock cultists out of the cult. That's just not how cults work. We're 10 years into this and few seem to have learned.

Honestly, what a pathetic man.

On this quietest of Friday afternoons, I'm going to avoid a rant but ... If your idea of “behavioral finance” is to list a bunch of “biases” and speculate how you might fix them in others, you're working from an old and mostly useless playbook. This is about the nicest I can be on this topic.

Off to some warmer sunshine.

Not surprising. It's identity, all the way down.

😁

"A wealth of information creates a poverty of attention." - Herbert Simon

Interesting nugget from today's really good @ycharts.bsky.social webinar with @downtownjoshbrown.bsky.social. Applied behavioral finance will be "table stakes" in the near future if it isn't already.

#Philly friends - I'm keynoting the CFA Society's annual wealth management event on Thursday. If you're around and can make it, come say hi!

Received a voice mail today selling subscriptions to print magazines. So retro it almost felt fresh and innovative.

Great list.

Has no one in San Francisco ever seen snow?

A well-earned victory.

Today I had both of my sons home in Chicago and we were able to watch the Steelers game together. This rarely happens, so I caught myself here at the end of Thanksgiving weekend feeling very grateful. A few undistracted hours with my boys, watching our team, is special.

#HereWeGo! #Steelers

Can't wait. Promises to be a banger.

A bold view on capital markets worth taking seriously.

Welp, the Raiders and Bears have put on masterclasses in how bad teams lose.

Thankful.