There are no innings. And even if there were, there's no reliable way to know which one you are in.

We all know politics and hypocrisy go hand in hand. But certain business/investment people (including some I know) making excuses for a top-down command economy, where the state leverages its power over private industry, taking equity, demanding tribute, etc, is ATOMIC-level hypocrisy. It's cringe.

Fintwit archive, 2017.

Don't say untrue things.

"Portraits" by Google is interesting. In the future, one might be able to consult with any expert, or otherwise interact with the intellect/accumulated knowledge (based on a lifetime of spoken and written work) of anyone living or dead.

Fintwit archive, 2014.

History of government shutdowns. Wikipedia has posted 2025 to the board.

Fintwit archive, 2022. COST is consolidating inside its largest drawdown from a high since 2022. Yet, still ahead of the valuation window where past drawdowns have bottomed.

Fintwit archive, 2020.

"Halligan competed in the Miss Colorado USA pageant, making the semifinals in 2009 and earning third runner-up in 2010..." I thought they ended DEI? On the other hand, I always thought it was fishy that beauty pageant contestants were underrepresented at the DOJ, so maybe this is progress.

Fintwit archive, 2018.

The over wins.

Marcus Aurelius: You always have the power to have no opinion. Things are not asking to be judged by you.

FinThreads archive, 2023.

Fintwit archive, 2019.

Fintwit archive, 2013. Vintage snark.

There's probably a thoughtful way to police lottery abuse that doesn't involve adding more leg-weights on growth. www.bloomberg.com/news/article...

Fintwit archive, 2021.

One's commitment to free speech can only be measured by the protection they would afford to the ideas, comments, jokes, and opinions that they dislike. That's it. That is the foundational principle. If you think you're entitled not to be offended or annoyed, then you have the mind of a child.

My simple proposal... everyone has to retake 8th-grade civics when they renew their driver's license.

"Free speech for me but not for thee," appears to be the order of the day. The state suppression of jokes is no joke.

Re-upping this one, for no particular reason.

Fintwit archive, 2015.

Fintwit archive, 2016.

A public company's minimum quarterly reporting requirement is to file a Form 10-Q. Everything else is optional. The filing provides direct transparency to shareholders and is not, by itself, evidence of management's short-term thinking. The "everything else" offers a better clue to that question.

Fintwit archive, 2014.

WSJ: "This isn’t socialism, in which the state owns the means of production. It is more like state capitalism, a hybrid between socialism and capitalism in which the state guides the decisions of nominally private enterprises." www.wsj.com/economy/the-...

Fintwit archive, 2021. Short-selling at HOOD, SPACs, memes, NFTs, and coins... there's always a game, and willing players. It's just the nature of things. Stick to yours. One thing about markets I love: everyone will get the result they deserve.

Fintwit archive, 2019.

Roger Federer only won 54% of the points he played in his career. This post is about investing, not tennis.

There's been impressive growth in garbage ETFs.

Fintwit archive, 2017.

John Malone interview: podcasts.apple.com/us/podcast/l...

The point of a pointless name change of a government department or geographic landmark is to serve as an occasional loyalty check. It's a low-stakes marker of who you own.

Good episode summarizing top-down state run capitalism… if you’re in to that sort of thing. podcasts.apple.com/us/podcast/t...

Seth Klarman via @koyfin.bsky.social The peril of false precision.

Fintwit archive, 2022. See you in September.

Fintwit archive, 2020.

💯

Threads archive, 2023.

Good governance goes largely unnoticed. Poor governance is noisy.

Turns out a lot of people who opposed this sort of thing were just pretending.

Fintwit archive, 2015. This was posted ATH 10 years ago. Then and now, a reminder not to "outsmart" yourself from making money.

Disagreeing with or criticizing an American president should require no courage. This ideal was once universally held. People need to give a shit about the John Bolton thing.

Fintwit archive, 2018.

Fintwit archive, 2019.

Fintwit archive, 2015.

Fintwit archive, 2017.