Grant Lyons

@yacineMTB Didn’t know such sounds existed

The Dyson vacuum is genuinely life changing. I didn't realize that vacuums could actually work and do what you expect them to: clean where they have been. I am surprised how much dust there was in my carpet and I have it cleaned and vacuumed every week

Alright. I have to admit it. Theo is right

@brian_armstrong True for private funds as well. 1) seems the more immediate path

I think it’s time to revisit the accredited investor laws in the US. Companies are staying private longer, where only accredited investors (aka rich people!) can invest. Retail investors can only come in after IPO, when much of the upside has already been captured. These rules were created with the best of intentions, to protect regular people from scams - a noble idea. Unfortunately, in practice they've often made it illegal to get richer, unless you're already rich. A regressive tax! We have to judge policies based on their outcomes, not on their intentions. These are two possible routes I see: 1) Replace the rule with something merit-based, like a financial literacy test. Pass it and you're accredited. Having a qualification based on competency rather than your bank balance or income seems far more fair. 2) Remove the rule entirely. Let consenting adults assess their own risk. Disclosure requirements stay and fraud enforcement stays to punish bad actors.

@SolSt1ne 7:30

Paul Tudor Jones told everyone the market was about to crash - they laughed at him then October 1987 hit and the Dow lost 22% in a day - he made 200% that month he sat down next to Stanley Druckenmiller and they explained how they each saw the move before it happened "losers average losers" "every day I assume every position I have is wrong" two traders. zero losing decades. one conversation. bookmark and watch it today

@Trader_Saan style gap

If you would buy $MU at a professional trading firm right now, there’s a good chance you would be fired soon after. Why? Because the second leg higher that started in late March is a classic climax move compared to the first leg. The acceleration became too extreme. One time, when I was still a junior trader at a trading firm, I found myself in a very similar situation. I was long on a lower timeframe while almost all my colleagues were short. Then the market collapsed and I reacted too slowly. While my colleagues were celebrating profits, I ended the day with a small loss. The next morning, before the market opened, I had a serious conversation behind closed doors. I was warned very clearly: “If you ever buy a climax again, you’re fired.” I never made that mistake again after that. I understand the market is in a mania phase. But that does not mean you should trade like a maniac. It’s true that the fundamentals are strong and may continue improving. But the stock already moved roughly 15x in about 12 months. Once markets truly reverse, fundamentals often stop mattering in the short term. Everyone suddenly wants a chair before they lose their massive open profits. $MU #Micron #Stocks #Trading #Semiconductors #NASDAQ

@jonathan_mg27 Beautiful, and great progress. Images below are from 2025, July 17 (left) and Oct 28 (right)

1,000+ workers. Beehive of activity. $GLXY

Dan on why semis, cap equipment, and hyperscalers are the most attractive sector in the market, and why Nvidia is still cheap: "The SOXX is up 40%. I don't think I've ever seen an event like that. You can still buy Nvidia –– maybe the multiple's slightly higher right now –– at 15 times '27, 12 times '28 for the most dominant, very fast-growing company at its size. I looked through our whole semis, cap equipment, and hyperscaler portfolio. My instinct was we've gotta take profits here. But I looked at the valuations and the growth rates. Unless you think the AI world is going to roll over in 2031 or 2032, it's the most attractive sector. It's where the bulk of our capital is invested."

@elonmusk Except gifts like @MichaelDell made to @InvestAmerica24

True

@blknoiz06 Why does that parabola curl backwards

bros...

@jukan05 Extremely unlikely x.com/kawzinvests/st…

@stocktalkweekly Plus options 😉 Beautiful stuff for real Only passion can produce this

Wow… I hit a major milestone today… Since I began sharing my full portfolio transparently at the start of 2024 (all weightings, entries & exits) total return on the WHOLE PORTFOLIO just crossed +3,000% +3,123.41% vs. +53.86% for S&P-500 29 positions, no OTC, no meme stocks

@alex_mirran @ZaphodB17 Franklin 🧬

What comes after Feynman? @DispersionCap @ZaphodB17

@MatthewBerman Keychron

best keyboard company?

Key

@brian_armstrong How much do you feel that these games helped shape your perspective as applied to real-world situations? I like many others spent ample time trading in-game economies (grand exchange, free market), and some intuition has undoubtedly transferred to real markets.

In my teens and 20's I would spend way too much time playing Starcraft and Civilization. Harvesting resources, building things, and expanding was super addictive to my brain - to an almost unhealthy degree. Later I realized that entrepreneurship and business is the ultimate game. It scratches the same itch for me (resources, building, expanding), but you're actually contributing to humanity at the end of the day, which can be much more fulfilling. Business is also much more positive sum than video games. In Starcraft, the other player has to lose for you to win. In business, there is competition, but in a growing market there can be multiple winners. And gains compound long term (it's a infinite game) instead of starting over each time. Now days I prefer to watch pros play video games to unwind, instead of playing video games myself. But a quick game can still be fun here and there to unwind. By contrast, the game of business is played over many decades.

Starship

@pmarca The $9 million will get chewed through extremely quickly.

New AGI pricing tier just dropped: negative $9 million if you're one of 11 specific companies; infinity otherwise.

@amitisinvesting @IncomeSharks Distribution play, take toll across iOS and MacOS, protect FCF

@IncomeSharks Which means that they had to spend $0 on capex and will leverage Google’s but with 2B devices that are glued to their Apple products

What if $AAPL is actually one of the best AI plays?

@Jason x.com/steipete/statu…

Here’s the explanation of anthropic ankling OoenClaw — discuss

@wesbos 1) Shimmying 2) Whisking

Claude Code leaked their source map, effectively giving you a look into the codebase. I immediately went for the one thing that mattered: spinner verbs There are 187

AI won't kill fundamental investing because more information doesn't kill alpha. We have decades of priors here (Excel, Bloomberg, alt data...all democratized analysis & information gathering, and didn't kill alpha). As measured by factor volatility, stocks are less efficient and more alpha-rich than ever (and empirically, the ability of multi-eight figure market neutral multi-managers to consistently grind out 10-15% returns in an idio-maximized way proves this point...15 years ago a $10bn hedge fund was considered to be impossibly large). Innovations in investment process have shifted alpha pools, for sure, and systematic investors have arbitraged many old, reliable fundamental alpha pools. But as the players at the poker table have shifted, the constraints of those new players have created new alpha pools. Long duration fundamental investing has been gutted, and definitionally competing against a group of non-fundamental (quants, factor/thematic investors, indexers) and duration-constrained (multi's) investors should be a huge competitive advantage, long term (however frustrating in the near term). To wit, a 9-month thesis where I "look through" the next two prints is now considered a long-term thesis. Rigorous investment process serves investment judgment, but the real alpha generation fits a power-law distribution and there is some ineffable "nose for money" that the great investors have, that cannot be trained necessarily. Investing is a very hard game, that cannot be distilled to a reinforcement learning sandbox (by the time it is, the regime will have shifted and new drivers move stocks). AI has no sense of materiality, no true discernment, and the lack of context of N of 1 situations (if you haven't noticed, we are living in an N of 1 world!). There is a irreducible element of humanness that is critical to success in fundamental investing, and that won't change. What does this all mean? In my opinion, there is no better time to be starting a careers as an investor. My first year on the desk, I spent a lot of time doing grunt work: updating Nielsen files, updating models for my PM, creating same store sales master files, building question lists for CEO meetings, etc. This is grunt work. I can automate this all now, and get more quickly to the deep, value added parts of learning the investment process. Will AI drive alpha? This is a debate people are having, which I find sort of silly. When used correctly, by the right investor, of course it will. Ask any great investor if they had another 4 hours of research time per day whether the quality of their research would improve? That's kind of a dumb question...of course it will. Compressing the mechanical part of your job to focus more on the artisanal part of the job is Step 1, and with agentic systems accelerating fast is now in the strike zone of possibility. This is before we start to layer in a broader monitoring net and use cases to go deeper and build more rigor, finding signals in unstructured data that were missed before, as well as turning your investment genius into a co-pilot pattern recognition system. The future is very bright for fundamental investing, in my opinion.