Acquiring Knowledge, Enjoying Life

Why am I here? youtu.be/9b2R8HmTHLo

@GovMikeHuckabee Who are these people donating millions trying to primary Massie for releasing the Epstein files? I'm praying for justice. Best of luck

Jews are 0.2% of world population. 16 million of 8 billion ppl on earth. Critics say they "control" everything. If so, they're really good to run so much w/ so little. Jew hate really is irrational.

@jeremykauffman Absolute GOAT HERO!!!! His current pursuits are even more important

During the greatest tyranny of my lifetime, Thomas Massie was the only Congressman to stand up and fight it. The only one. Even if you think Massie is being counterproductive today, he's a hero.

@hkuppy Trump or "his friends" are clearly compromised. Needs to be addressed immediately

@Cernovich Epstein files exposed Trump is clearly compromised. Says "his friends" will be hurt. Either way he's incredibly compromised. Needs to be addressed... 25th amendment? impeachment? Can't go on.

Trump is the final decision maker. He wanted this war, and he got it. dailymail.co.uk/news/article-1…

@AsymEdge @FrontRowBrian @TradexWhisperer Agreed. That option distribution seemed bearish and concerning. Also now wondering if some leap options might be worth considering.

@RZ_3_ @FrontRowBrian @TradexWhisperer The 1% isn’t about P/E. It’s just the options-implied probability of trading above $700 — based on volatility, not earnings.

$MU $SNDK Morgan Stanley Research Response on Google's "TurboQuant" Memory Optimization "There’s just no indication that demand for memory or storage is going down, universally across our contacts." "Our take, after talking to industry folks on this today, is that this is an evolutionary development, with basically no surprises for memory" "It is being widely reported that Google has reduced memory usage by 6x, which leaves out that they are just talking about KV Cache memory, not memory overall. Memory stocks sold off again, at least partly due to this hyperbole." "Memory usage is one of the key determinants of AI performance, which makes memory a key aspect of evolutionary improvements. Of course Google is one of the most innovative companies in this space, so an incremental improvement is not particularly surprising, and compression algorithms for KV cache have been a focus for years, per our contacts - "and the biggest improvements are not advertised" since they can be an edge in the business. It's also worth noting that Google's Gemini 3 and 2.5 Pro models feature a 1M token context window, but the company has disclosed that they tested up to 10M tokens with great results with Gemini 1.5 pro but choose not to release the model in part due to inference costs. So we would expect that as costs come down due to innovations like these and others, it will be used to serve higher intelligence more compute intensive products." "Further, more efficient use of KV Cache doesn't have much direct impact. Most frequently the KV cache is held in high bandwidth memory, the content of which is fixed and cannot change; if there is additional caching offload required, it is typically moved to the "unified address space" - ie the 18 TB of LPDDR5 memory in the rack, which is also fixed. If there is need for tertiary offload, It can be in an SSD or HDD, and NVIDIA has talked about a tier of SSD KV cache storage which we think starts next year. More efficiency could have impact on that 3rd tier, but generally commentary is that the improvements are mostly designed to allow for extended context windows - higher capability - rather than trying to reduce tertiary storage. costs. There’s just no indication that demand for memory or storage is going down, universally across our contacts." "NVIDIA has described that they can deliver 1 million x performance improvement per decade, and that is not unrealistic - and is partly improvement from the ecosystem, which in this market drives a constant stream of innovations. Occasionally those disruptions create some angst that chips are becoming too efficient, but it's central to the growth of the ecosystem." "Even at face value a 6x reduction in KV cache memory usage becomes much less meaningful in the context of 30x annual growth in context windows" See the attached graph 👇

@WiggerNightmare @GadSaad @ComicDaveSmith @joerogan Gad was instrumental in bringing sanity to the woke mind virus, will forever be grateful. Didn't realize Gad is a literal mossad agent (admitted in his book and the epoch times interview)

@RZ_3_ @GadSaad @ComicDaveSmith @joerogan its not an argument from authority, its an argument from intellect. Dave freely admits he is horribly on the subject. its a nice cope though pal, you can stop pretending like you were ever a fan of Gad with that pfp

Dear @ComicDaveSmith, I'll engage with you here because you were apparently very upset on your most recent appearance on @joerogan's podcast. I don't engage with your positions because in a world of fixed resources, one does not have the time to engage with everyone in possession of an opinion. You've managed to catapult yourself onto the conversation; more power to you. Quantum physicists should not bother with my opinion on the topic since I readily admit that I'm hardly an expert in that field; I dare venture that my knowledge of quantum physics (very little) is orders of magnitude higher than your "knowledge" of Israel and the Middle East. I have epistemological humility; you possess none. Cheers.

@RWMaloneMD You're a pro Epstein guy now too 🤦??? Seriously??? Have you zero dignity and integrity? Do you all not have kids? I don't get it... -Random dude in TX

Excellent analysis.

@saxena_puru NTM PE of 4.4 and 245% EPS fwd 2 yr growth. What am I missing? Seems insanely cheap. Giant upward revisions but earnings are really going to collapse in 2028/2029 as memory requirements double and triple?

After the big rally, memory stocks are looking super vulnerable. Still very over-extended relative to the 40-week moving averages. $MU $SNDK

@FrontRowBrian @TradexWhisperer $700 = 1% probability? PE = 8 in one yr?

@TradexWhisperer MS on $MU

@KosherGammon @GadSaad @ComicDaveSmith @joerogan Ah the Ad Hominem argument is so much better. This is just getting pathetic honestly.

@RZ_3_ @GadSaad @ComicDaveSmith @joerogan He hasn’t taken the argument of authority position. He’s taken the, lift is too short to waste on a hack idiot position

@EZBetting1 @jeremykauffman @GadSaad @ComicDaveSmith @joerogan Jeremy is a Massie libertarian I respect and follow. Didn't think he'd take the Lindsay Graham position. I align in the Massie, Ron Paul and Nick Szabo camp... Just like Jeremy.. or at least I thought.

@RZ_3_ @jeremykauffman @GadSaad @ComicDaveSmith @joerogan What about you, pal? Have you explained why?

@JTLonsdale These people are on the other side of the planet. Sorry don't care what they chant. Would you really send your son to the front lines for this? Seriously?

Love this. UAE is a great ally, and one of my favorite countries, with such impressive leaders. Let's eliminate evil, and build prosperity together.

@FutureJurvetson What experiments have we run to rule out detector interference? How is this not the entire issue?

The most mind-bending variant of the 2-slit experiment: fire a single photon at the slits. Then fire another tomorrow. They deflect differently, but after many days, the cumulative distribution will be the typical interference pattern 🤯 Is a single photon interfering with itself? Interfering with other photons over time and space? The simplest explanation, according to Oxford's David Deutsch, is interference across parallel universes, the same mechanism that gives quantum computers capabilities that are just not possible in one universe. Richard Feynman called it the “one experiment which has been designed to contain all of the mystery of quantum mechanics.” My longer post on this: x.com/FutureJurvetso…

@JamesOKeefeIII Go investigate the three letter agencies.

We are fighting for the core of this country, justice and free speech. While others stay SILENT, we are putting everything on the line up and defending the rights of the American people. We DEMAND real accountability, not silence. When our team risks their lives and nothing happens, that’s UNACCEPTABLE. @ctznjusticelg @realmuckraker @anthonyjrubin @camhigby @Savsays @choeshow

@unusual_whales Regulators can find the accounts that placed these orders in seconds. There is no mystery.

I want you to understand how unusual this is. 6:49 AM on Monday: A sudden surge in oil futures trading, approximately $580 million in volume, no news, no announcement, nothing public. 7:05 AM: Trump announces a pause on Iran strikes. Markets move immediately. Roughly $580 million in contracts were placed about 16 minutes ahead of the news. Unusual.

@JTLonsdale @DrCaseyBabb The ADL and AIPAC are reaping havoc inside our country in regards to freedom of speech etc. Will you establish a coalition to fight them and the Epstein regime they created?

@DrCaseyBabb Maybe in Europe. Not in the USA. Here we are part of the fabric of the nation, and will fight alongside Christians and other patriots to protect our free country and to stop the commies and the Islamists.

Eventually, most Jews in the West will flee to Israel. Sad but true.

@JTLonsdale @TheMagaHulk So let's spend $200 Billion, spill American blood and send the world into a gigantic recession for America's thought police??? This is your position?

@TheMagaHulk Well said.

Benedict Arnold was a Revolutionary War hero. He captured Fort Ticonderoga. He led the assault on Quebec City. He fought bravely in the Battles of Valcour Island and Ridgefield. And he played a pivotal role in the Battle of Saratoga, often considered the turning point of the war. He was even promoted to major general and led Washington's Army in Philadelphia. AND YET... He's only remembered for being a traitor.

@BillAckman Was he wrong? These are our "Allies"?

A number of press reports have characterized our and other shareholders’ efforts on behalf of Fannie and Freddie (F2) as seeking a ‘gift’ or ‘handout’ from the government. We, the shareholders of F2, seek no such thing. Hundreds of financial institutions were bailed out during the GFC by the U.S. Treasury. Nearly all of the financial institution bailouts during the GFC involved an injection of capital in the form of senior preferred stock by Treasury at an interest rate of 5%, plus warrants to acquire common stock in an amount equal to 15% of the face amount of the preferred with an exercise price at the then-current stock price of the rescued institution. For example, Treasury’s preferred stock investment in Goldman Sachs was in an amount of $10 billion and, in addition, Treasury received warrants on $1.5 billion of GS' common stock at its then market price. The bailout terms for F2 were materially more burdensome and expensive, with a higher interest rate and substantially more warrant coverage, than that of every other financial institution (other than those of AIG whose terms were similar). Despite the F2 bailouts’ massively more burdensome terms, shareholders are not complaining about the original terms. Treasury invested $193 billion in F2 in the form of senior preferred stock (SPS), including funding for $2 billion of commitment fees, with a 10% coupon (twice that of the banks). Treasury also received warrants on 79.9% of both companies’ outstanding shares. Fannie and Freddie have since repaid Treasury $301 billion, which includes interest on the SPS at a blended rate of 11.6%, an interest rate which is 160 basis points more per annum, and have returned the entire $193 billion of outstanding principal, $25 billion in excess of what was contractually owed. In summary, the F2 SPS has been fully repaid according to its original contractual terms plus an extra $25 billion. Despite the fact that the SPS has been more than repaid in full, Fannie and Freddie have not accounted for these payments on their respective balance sheets, and the $193 billion of SPS remains an outstanding liability as if no principal payments had ever been made. How can it be, you might ask, if indeed F2 have repaid $301 billion to Treasury when only $276 billion was due could there be any remaining balance of the SPS on the F2 balance sheets? The answer relates to something called the ‘Net Worth Sweep (NWS).’ During the second term of the Obama administration, on August 12, 2012, two quarters after F2 returned to profitability, Treasury announced that it was unilaterally amending the terms of the SPS stock to provide that Treasury would take 100% of the profits of F2 each quarter in lieu of the 10% annual dividend rate. This was not a negotiated resolution with F2. It was a unilateral amendment of the original terms of the SPS that was done in bad faith. The supposed rationale for the amended terms of the SPS was akin to the IRS garnishing the wages of someone who will never be able to pay the taxes that they owe. That is, the Treasury said F2 will never be able to pay the 10% coupon, let alone the SPS’ $193 billion principal balance, so it decided instead to ‘settle’ for 100% of F2’s profits forever. In discovery, shareholders learned that the stated justification for the amendment was false. In mid 2012, the Obama administration had come to learn that both companies would soon be reversing tens of billions of reserves on their balance sheets as housing values had increased and the reserves taken during the GFC had been excessive. The NWS was instituted by Obama to forestall F2 from forever being able to recapitalize and be released from conservatorship. The NWS was not a ‘settlement’ for a lesser amount of future payments. It was the outright theft of the forever profits of both companies. Never before or since has the government ‘swept’ 100% of the profits of any company, let alone a financial institution in conservatorship, a form of government intervention where the goal is rehabilitation of the institution, and where the hierarchy of corporate claims has always been respected. The accounting for the NWS payments while it was in effect (until Secretary Mnuchin terminated the NWS in Trump’s first term) was also unusual. The NWS was treated by F2 as a quarterly adjustment to the dividend rate on the SPS such that the dividend amount owed was made equal to the after-tax profits of F2 for that quarter with no limitation. In other words, regardless of the amount of profit F2 generated for the quarter – whether or not it was in excess of the original 10% annual dividend – the dividend payable under the NWS was made equal to the quarterly profit. The absurd terms of the NWS sweep therefore made it impossible for any partial or full repayment of the SPS to take place as every dollar paid to the Treasury on the amended terms of the SPS was considered a dividend payment, even if the amount was massively in excess of the original contractual SPS terms. The absurdity of the NWS was made clear just two quarters after the NWS went into effect. Fannie Mae generated a profit of $59 billion in the first quarter of 2013, and the SPS dividend rate for that quarter was set at $59 billion so the entire amount was swept to the government, more than 10 times the contractual dividend rate. I had the opportunity to discuss F2 and the NWS with Warren Buffett about a decade ago and he said that he “couldn’t believe what the government had done.” In short, the shareholders of F2 are simply asking the government to respect the original and highly burdensome terms of the SPS. There is no dispute that Treasury has received more than the original 10% coupon and full repayment of principal of the SPS, that is, an extra $25 billion. We and the millions of other shareholders of F2 are simply asking the administration to honor the original SPS terms and properly account for the $301 billion of payments, thereby eliminating the SPS liability from both companies’ balance sheets. Shareholders have not asked for the extra $25 billion to be returned to the two companies. Treasury can decide whether to keep those funds or return them to the companies. Accounting for the repayment of the SPS has other important implications. Namely, it is critically important that conservatorships respect the rule of law, in particular, the contractual terms of corporate instruments and the hierarchy of claims. Otherwise, no financial institution that gets into trouble will be able to raise rescue capital in the private markets. Notably, the treatment of F2 in conservatorship explains why Silicon Valley Bank and other recent large bank failures since the GFC were unable to raise private capital and avoid government intervention or a forced sale to J.P. Morgan. If the government with the stroke of a pen during conservatorship can at a whim wipe out common and preferred shareholders, no one is going to step in to try to save a financial institution that gets into trouble, and only the top few banks will be possible rescuers of big banks that fail. Furthermore, because of F2’s history, their reputation in the capital markets has been greatly damaged. F2 raised $22 billion of preferred stock in the year or so prior to conservatorship as the government pressed both companies to raise capital. Institutions were willing to invest billions of dollars of capital into both institutions before they failed because, based on all precedent conservatorships, the contractual terms of all financial instruments and the hierarchy of claims had been preserved. Unfortunately, in light of the precedent of the net worth sweep, no investor can be confident that they won’t be wiped out in a future conservatorship so none has been willing to take the risk. Some have proposed that Treasury simply convert the SPS into junior preferred and common stock and massively dilute shareholders. Putting aside the potential legal challenges to this approach, the result will be that Treasury will at best own something approaching 95% of both companies rather than 79.9%. While the government’s percentage ownership stake would be larger in the SPS conversion approach, the value of the government’s larger stake would be considerably lower as the companies would become un-investable. Who would invest in F2 alongside the government when they just wiped out the previous owners? In the SPS conversion scenario, the government’s stake, at best, if it could be sold, would trade at a massively discounted valuation, well below the value of the government's stake if Treasury retained only its contracted for 79.9% stake and respected the original terms of the SPS. In other words, a slightly smaller ownership stake of much more highly valued companies would equate to considerably more value for Treasury and taxpayers. In a public letter to Rand Paul after his first term in November of 2021, President Trump recognized that the net worth sweep was theft from the shareholders of Fannie and Freddie. He wrote: “Another Obama/Biden scam in legal trouble was when they allowed the Federal Housing Finance Agency (FHFA) to steal the retirement savings of hardworking Americans who had invested in Fannie Mae and Freddie Mac…The idea that the government can steal money from its citizens is socialism and is a travesty brought to you by the Obama/Biden administration. My Administration was denied the time it needed to fix this problem because of the unconstitutional restriction on firing Mel Watt. It has to come to an end and courts must protect our citizens.” I couldn’t have said it better than President Trump. Now that you have the time, Mr. President, let’s Stop the Steal!

@JackPosobiec And nothing's changed if you haven't noticed...

In 2005, Jeffrey Epstein was under an 11-month FBI investigation 40 underage girls alleged Epstein assaulted them After Epstein gave information to the FBI, federal charges were dropped Who was head of the FBI then? Robert Mueller