Drew Wells

@DsrPrivate Could you please explain the relative performance at equal risk chart; specifically, why it shows DS Global outperforming ALLW.

@DsrPrivate Sorry - badly phrased question. Do you think the odds of that happening are sufficient to warrant putting some of what would otherwise go to cash into value stocks?

@DsrPrivate As I recall heading into 2000 value stocks had sucked for a long time, like now (Grantham lost tons of assets); and they performed reasonably well after 2000. If my recollection is correct, do you think that could repeat if you're right about the overall market?

@PasqualeSasso Furthermore, the reciprocal tariffs were imposed by Trudeau. While you can say the Liberal party and the government of Canada has pivoted, in no meaningful sense can you say that of Carney.

@PasqualeSasso But while the reciprocal tariffs and the withdrawal of some of them are observable facts, characterizing the strategy as inferior is not; it's a judgement about the best course of action. That requires an evaluation of the alternatives, in this case, available counterfactuals.

I’ll give Carney credit for pivoting when his approach was failing, but it should now be glaringly obvious—even to his diehard supporters—that his vaunted ability to handle Trump in Canada’s best interest was grossly oversold.

@ronmortgageguy Thanks for the respectful ad hominen response. Very impressive!

@Blue9a Drew has been on X since 2008, 17 years he has 32 followers Nobody gives 2 shits what Drew thinks

Why Recent The First Nations Land Ownership Court Decision In BC Is Totally NUTS After a 5 Year Trial (longest in Canadian history) 800 acres in the City Of Richmond Hill BC was awarded to the Cowichan Tribes ending 200 years of accepted property law in Canada 2/

@DsrPrivate @MarkSMcDaniel "Historic" in the sense of this likely being a watershed year?

@JohnPasalis @danielfoch You're banging your head against the wall with Daniel. Anyone who poses the following rhetorical question is very clearly blinded by his book and not listening: "What’s wrong with those investors going crash flow negative though?"

@danielfoch 3BR homes were never cashflow positive That never stopped people from buying them The decline in investor interest today is a short-term trend. We both know that

As more 3-bedroom homes are bought by investors and converted into rentals, young families are disappearing from our cities. This isn’t just about affordability—it’s about ownership. 🧵

@DsrPrivate You do something extraordinarily difficult: hold and act upon directly opposing thoughts simultaneously. You can simultaneously hate bonds and own them; doubt whether you possess alpha and pursue it. It's like believing light is both a wave and a particle.

@DsrPrivate Sounds like you've expanded Pascal's Wager to TA. The world is a better place with a little more intellectual humility like yours.

@BobEUnlimited @EconstratPB @fejau_inc You've got 187K followers. 10% of the population are assholes. Put it behind a paywall. I'd be happy to pay.

@EconstratPB @fejau_inc You are, which I respect. But at least you put some behind the pay wall which means you can choose it when you are getting too cocky! Ha!

Sure the bots are annoying and the tech kinda sucks, but for me it’s the extreme politicization of even the most benign macro posts and the constant trolling about past wrong positions that is making this place increasingly intolerable.

@danielfoch @JohnPasalis From a policy perspective, I think it makes sense to incent amateur landlords to invest by way of a limited partnership (or some such structure) that builds and owns a purpose built rental - a sort of modern MURB program with safeguards to prevent the problems last time around.

@danielfoch @JohnPasalis Respectfully, ease of eviction is a red herring. If I pay all of my costs of housing as a home owner, I cannot be forced to move against my will. Not so if I pay all of my costs of housing as a renter from an amateur landlord.

This is good, but a reminder: Toronto’s new condo market isn’t frozen because of development charges It’s frozen because the investor-driven bubble burst. Now that nobody wants to pay bubble prices, housing advocates are scrambling to blame the city. 1/

@danielfoch @JohnPasalis Agree - home ownership should not be important. But secure of tenure is important, and while you get it in a purpose built rental, you don't with the amateur landlord class. Thus, renting from the investor class is not as good as ownership, in that important respect.

John I apologize if I come off that way but I admire your work and respect your views a lot - there not many people whose work I admire more. My point here is that state intervention leads to bad outcomes. That being said I just disagree with you (obviously lol) on this one and would love to discuss it together sometime. The big question I want to know the answer to is "why is homeownership so important?" Today, someone can rent a condo for far less than the cost of ownership because those investors exist. They can then invest that cost differential and downpayment into something more productive, like starting a business, or even just $SPX, in most cases they'd actually get out ahead. If they suck at investing or saving money, then the home is a good savings vehicle/asset to pay into - and that is its primary value because most Canadians have bad financial literacy.

@ronmortgageguy Every one of the features you say is uniquely attached to home ownership is available to renting a purpose-built home; and I speak from personal experience with both forms of housing. It's as if you never heard of German or Austrian rental culture.

My position is Fuck both of those arguments Owning a home is about kids going to the same school, same friends, it's community & it's control over your life & painting whatever the hell color you want It's NOT investing, it's NOT density & land use: it's about a better life

You Will Own Nothing & Be Happy: I Always Thought It Was A Dumb Slogan I still don't think there's a conspiracy by Illuminati in a secret Headquarters in Davos Switzerland But I am starting to wonder why a country like Canada is clearly pulling away from Home Ownership 2/

@DsrPrivate Would you put the short NDX and SPX put spread on now if you didn't have them - same strikes?

@AaronHectorCFP It's an astute point, but as I was going through my estate planning I realized that an executor dealing with financial assets on death is far easier than an Attorney dealing with them under a POA. In the former case, just sell; in the latter, ongoing management is required.

One of the reasons financially astute people hire a financial planner is to have someone other than themself who understands their family history/finances. The fees are like insurance premiums to ensure that when they pass, or when their cognitive abilities decline, a familiar face can continue to help guide the family.