R. Patrick Kent (RPK)

I've worked on the Sell Side, Buy Side and Hedge Funds in my career and I can say one thing for certain: everyone thinks everyone else is an idiot. 😂

@nickgillespie And/or offer tax breaks for private grocery stores?

Mamdani's taxpayer-funded grocery stores won't open til late 2027, will be run by private companies, and will require some sort of NYC ID for shoppers & will surveil them so they don't resell. Seriously, why not amp up food stamps for lo-income ppl now?

Morning! Game 146 in the 2026 season. Measure and map.

@scottlincicome @JonahDispatch He’s not wrong

@JonahDispatch 2.5??? Jeez.

4.5, 4, 2.5

@Hedgeye_ADDS lol. Per ounce it might be cheaper to mine it on Mars.

@RPKent Alchemy risk ? sciencedaily.com/releases/2025/…

Perhaps someone smarter can explain to me why stable coins that own gold and other assets don’t completely undermine the case for Bitcoin.

New episode up! Great conversation with @NickNemo17 a fellow traveler in the New Wall versus Old Wall rebellion. hedgeyeam.com/protect-the-pi…

Apple market cap down $600B and AMZN / GOOGL +$600B.

people will rabbit hole every detail of the Situational Awareness blowup and still not internalize that being right on the long run and not blowing up (risk mgmt) are two very different but inextricably codependent things. the former = wholly conditional on the latter. the connection will be recognized as obvious ... but still not internalized

1-2% of global oil supply. Nothing to see here.

Premarket: Apple -$377B. Amazon +$290B. One night, two reports. Not a market move, just a transfer... with $87B left over to go shopping elsewhere in tech.

And the last shall be first... LOL

Game 144 was wild.

"If the same strategy has worked for gold... and its the same strategy that has worked across all the commodities... it's worked for a bunch of currencies... equities... also in fixed income... then you start to get a conviction that this strategy is not randomness." - Lasse Heje Pedersen Fractals are a first principle design element of all creation. In nature and in prices. @Hedgeye @KeithMcCullough

@HedgeyeTech nailed this point weeks ago. @Hedgeye

What HAM Portfolio Managers Are Watching This Week app.hedgeye.com/insights/18530… via hedgeyeam.com

UST 10yr Alpha Code = 458451

Morning! Game 145 in the 2026 season. Get into it.

@DougKass @TheStreetPro I was raising the question on the Macro Show this morning: if whether, post the momo selloff, Apple wasn’t the most crowded trade. +67% Yty with sales up 15% and @HedgeyeTech suggesting the possibility of sales growth decelerating.

@TheStreetPro "Just one more thing." Part Duex - Lt. Columbo Shorted Apple * As I suggested I would yesterday… From Comments Section: Dougie Kass Shorted $APPL $329 coincident with the EPS release BY DOUG KASS · Jul 29, 2026, 7:30 AM EDT Time to Short Apple? The shares of Apple (AAPL) keep going higher because they are NOT spending on AI. All the money has to go somewhere, so instead of taking it out of the market, they put it into Apple — in the great rotation that has highlighted trading in the last few weeks. Apple recently had a poor quarter and its shares sold off on the basis of its fundamentals — but it’s now going straight up just due to flows. Apple’s top and bottom-line growth since 2000 is uninspiring as it is basically a giant company that has not innovated anything for about the last 10-15 years since Steve Jobs died and has conspicuously slowing growth. Apple is a large cash-generating machine that has lived off of taking price up for its products, buybacks and passive money flows into their stock (because it is such a big index component). Now it is trading at 40x and at its all-time high — as it has a love fest with momentum-based investors. This speaks volumes about what the equity markets have become and how things are valued. I don’t typically short value but I am considering an AAPL short. (I hope Warren Buffett reads this!) BY Doug Kass · Jul 30, 2026 @squawkbox @andrewrsorkin @beckyquick @joesquawk @carlquintanilla @TheJudgeCNBC @cnbcfastmoney @cnbchalftime @KeithMcCullough @SamofAmerica @RPKent @HedgeyeDJ @sARAEISEN @SullyCNBC @tomkeene @lisaabramowicz1 @ferrotv @annmarie @gnoble79 @convertbond @WhitneyTilson @peterboockvar @guyadami