Barry Ritholtz

It's finally here! Hardcover, kindle, and audio versions of: How NOT To Invest: The ideas, numbers, and behaviors that destroy wealth - and how to avoid them HowNottoInvestbook dot com

I spent this morning reading the entirety of @Pontifex's new encyclical. Your LLM summary is going to miss hundreds of subtle and brilliant framings. Read it in full before opining. There is no "fluff." It's masterful. vatican.va/content/leo-xi…

Transcript: Vimal Kapur, Chairman and CEO of Honeywell dlvr.it/TSjXpX

Odds of making money: 1 year in stock market: 74% Blackjack: 42% Slot machine: 5-10% Lottery ticket: 5%

10 Memorial Day Reads dlvr.it/TSjM9G

Steve Carell, Northwestern Class of 2025 Commencement dlvr.it/TShrJX

On this day in 1985: AOL founded. It was once worth more than Nvidia, Apple, Amazon, Starbucks, Adobe, Costco, Disney and McDonald’s combined.

10 Sunday Reads dlvr.it/TShhm1

MiB: Vimal Kapur, Chairman and CEO of Honeywell dlvr.it/TShCFb

10 Weekend Reads dlvr.it/TSh635

Never seen an IPO lock-up like this one, confirming our scoop semafor.com/article/04/09/…

At the Money: Blurring the Lines Between Public & Private Investments dlvr.it/TSgWF3

@dougboneparth x.com/RitholtzWealth…

Great financial advice in 8 words: Avoid debt, invest regularly, make coffee at home.

Dear Kevin Warsh Later today, you will be sworn in as the next Chairman of the Federal Reserve. Congratulations. You got the job by convincing the President you share his vision that the Fed needs to cut rates. The problem is that today, on your first day as Chairman, the market is pricing in a 64% probability that rates will HIKE before the end of the year. Good luck!

10 Friday AM Reads dlvr.it/TSgLN9

Kevin Warsh is facing the highest yields on 10-year Treasuries on his swearing-in date of any Fed chair going back to Alan Greenspan in August 1987.

S&P 500 forward sales growth is projected at ~18% over the next 24 months. Historically, this corresponds to ~12.4% NGDP growth (about 6% annualized). Something to consider as yields (and the Fed) look for a new equilibrium.

Estimated profit growth in next 5 years: Palantir: +454% Tesla: +442% AMD: +406% Palo Alto Networks: +118% CrowdStrike: +117% Microsoft: +114% Nvidia: +114% Alphabet: +102% Source: average analyst estimates

Creating The Perfect Portfolio "As long as you understand the trade-offs, there is no optimal portfolio. In fact, the sub-optimal portfolio you can hold onto is much better than the optimal portfolio you give up on." buff.ly/8jLWFoC by @awealthofcs

This was a good one with my "not as old as I am but old" pals @howardlindzon and @Ritholtz . Exceedingly engaging and entertaining.