J/J

Typically I’d view the externalization of an internally managed BDC as a negative. But this is the same Magnetar that minted on $CRWV and has become deeply embedded in the AI infrastructure ecosystem… Hard to ignore the potential sourcing/network effects here for $SSSS, especially with legacy portfolio gains excluded from incentive fees…

Pam Bondi led this Department with strength and conviction and I’m grateful for her leadership and friendship. Thank you to President Trump for the trust and the opportunity to serve as Acting Attorney General. We will continue backing the blue, enforcing the law, and doing everything in our power to keep America safe.

I said earlier I didn't know the outcome of the war and I still don't. However, the narrative that the U.S. doesn't have a plan because Trump keeps changing his mind I think is a bit silly. Trump is an opportunist. i.e. someone who won't reduce his optionality...

U.S. MAY SIMPLY DECLARE VICTORY AND MOVE ON Former U.S. Secretary of State Blinken: one off ramp is declaring victory, saying the ayatollah is gone and Iran’s nuclear and missile programs have been degraded — and leaving the future of the regime to the Iranian people.

I think now it’s worth focusing on the incentive of the US: to get this done quickly. And the incentive of Iran is to survive, which means to drag this out. However guess what? The US can define “this” as done whenever it likes. So it has the “dominant” position. The resolution of uncertainty over this war, an aligned ME vs. Iran coalition, US’s “flexible” victory conditions, and the overhedging going into it provide the next catalyst up.

Remember when we learned that our wealthiest and most powerful people were connected to a guy who ran a literal child sex trafficking ring? And then that guy died mysteriously in a jail? And now we just don't talk about it.