Christopher Cain

The Fed bought corporate bonds though in 2020 didn’t they? Honest question did the rules need to change them to do that at the time? I feel like there’s bigger difference between buying treasury bonds and corporate bonds (which share more risk factor with stocks) versus corporate bonds and stocks.

@sonalibasak @EricBalchunas This would be highly unlikely. I do believe the Fed is precluded from buying stock. That said, crazier things have happened in the past.

This is a must read. via @EricBalchunas

@kgreifeld Im guilty of this, wore it this weekend

i love seeing "New York or Nowhere" shirts/hats along the Hoboken/JC waterfront. baby we're in New Jersey

@EricBalchunas Also low vol factor is having a historically terrible year performance wise.

Revenge of the Nerds: Factor ETFs are having their second best year in a decade as over half of them are besting the S&P 500 (much better than active). And every category is seeing inflows ($87 total) except Low Vol (which we think has largely been replaced by buffer ETFs). Good stuff on a wildly underreported part of mkt from @psarofagis

@EricBalchunas I think they have to show that they’re willing to sell something so the credit rating agencies give them a better rating. Also, this headline is insane.

On one hand, they only sold 0.004% (literally) of their btc so it's pretty histrionic framing to say "U-Turn" and "remain solvent" but on other hand why bother selling such an insignificant amt knowing full well the media/haters will go wild with histrionics and TD dances?

Value Factor valuation ratio, aka the ratio between the cheapest and the more expensive stocks, remains below averages. Cheap quintile in SPX trades around 13% the valuations of expensive.

Same deal with margins. Forward profit margins highest since 2000. 67 months in our 316-month sample traded at higher valuations. However, those periods carried a median forward margin of just 12%, 340 bps below today.

Some S&P 500 valuation charts... TLDR; SPX valuations aren't as crazy as they look at first glance Big diff between market cap weighted and equal weight valuations (forward P/E). Ratio close to highest in this data. EW valuations are right around medians (compared to itself)

Thanks for the highlight @alexandraandnyc !

@stevehou @tracyalloway Nooo sad to see this brotha. Can’t wait to see what is next (geopolitical strategist? Lol)

Today was my last day at Bloomberg. I joined on Jun 8, 2020 in the middle of the COVID pandemic on @tracyalloway’s referral. These 6 years were a tremendously rewarding experience! I’m deeply grateful to my Bloomberg colleagues and friends. Now onto something new! Stay tuned! 🙏

@BruniCharting @CMTAssociation Love this news. Congrats

Personal Update: I’m returning to my roots, officially joining @CMTAssociation as Director, Community & Content (Americas) to build, engage, and amplify our community across the Americas. For those who don’t know, I discovered Technical Analysis in my senior year of high school, and it just clicked. As I carved out my place in the finance world, CMT Association’s events and members were invaluable resources; they taught me first-hand the power of community and the organizations that support it. After 15 years as a member, I’m "flipping the script" and joining the team to help create more success stories like my own and advance the discipline even further. Member value is maximized when content and community work in sync. I’m here to ensure we are a living, breathing ecosystem by focusing on two core principles: - Amplifying the Community: We have thousands of members and candidates globally. My focus is on scaling our city-level communities and ensuring our volunteers have the systems and support they need to thrive. - Elevating the Content: Our members are already doing world-class work. My job is to leverage and package the incredible insights already being produced to drive visibility for our members and the discipline at large. CMT Association’s future is bright, and I want to thank @_TBone_Pickens and the team for welcoming me on this journey in advancing the discipline of Technical Analysis. If you are a member, volunteer, or partner in the finance space—I’m excited to hear your ideas on how we can continue to move the industry forward together. You can reach me at tom@cmtassociation.org. Or join me this month at these two community events: - Boston Spring Summit (May 14-15) - Canada Quarterly Summit in Toronto (May 26)

April 2026 ended up being the 5th strongest month for the S&P 500 in the last 35 years ... with most other instances happening after crises (April 2020, April 2009) And the momentum typically continues, forward 3-6 month returns after the top 10 months outperform the baseline (average of all overlapping x-month returns since 1990)

In our latest episode of Inside Active, @PythonTrader and I spoke with @BlackRock's Jeff Shen about the evolution of systematic active equity and how advances in data, AI and machine learning are reshaping alpha generation. @BBGIntelligence podcasts.apple.com/us/podcast/bla…

My latest strategy for capitalizing on the gold rally (my kid's leprechaun trap) Also proof Im a quant nerd

@choffstein @DeepDishEnjoyer Loved this game

@DeepDishEnjoyer it was innovative game play though

enough - this is like one of the most obvious tells that someone doesn't know what the fuck they're talking about

@kgreifeld Yes congrats!

jfyi twitter!!

@RyanPKirlin I know bc I hate at least one position everyday

Stay diversified to keep your wealth. Get concentrated to make your wealth. That’s what all decisions in managing your money boils down to. As you age, the pull to simply keeping (at least some) of what you have diversified increases. How do you know if you’re diversified?

@macrocephalopod @longironcondor Genuine question what’s wrong with Seykota and Eckhart?

@longironcondor The first one has PTJ, Bruce Kovner and Jim Rogers who are the real deal. And Richard Dennis who pretty much is. But also a lot of people who were basically grifters, like Seykota. The second one has Druck and Jeff Yass, but also William Eckhardt 🤷‍♂️

What a joke. A great book series ends up being a publicity stunt for grifters