Chris Arbuthnot, CFA

@ryssee @6beerdinner The wings were awesome at Whiskey’s!

@CH_Arbuthnot @6beerdinner POUR House I think! and I loved Whiskey's from 4-9pm in my 20s

For anyone Boston/MA based what was one bar/venue in Boston you went to that you were actually like “this place is actually quite nice and i want to come back”

Here’s a solution. The crypto industry agrees to no yield on stablecoins, HOWEVER, if any bank in the future requires a bailout IN EXCESS of FDIC insurance, this triggers an amendment that automatically allows for stablecoins to pay yields. Seems like a fair compromise. The banks can’t have it both ways.

This finalized, bipartisan text is the culmination of months of hard work to deliver a compromise on yield we can all live with. We are closer than ever to getting the Clarity Act across the finish line.

@TheAlexSylvian They can expand it to also include the Red Sox!

they should make a reverse moneyball movie about whoever's responsible for the mets situation right now

@EricBalchunas I like the concept of Friday and Sunday but it can’t be tied to Good Friday because that fluctuates based on the moon relative to solstice. Good Friday can be the second round weekend or two weeks after the normal championship game Monday.

Take: the Final Four games should be played on Good Friday every year at 615pm and 830pm EST. Then play the Natty game on Sunday at 6pm EST. Everyone wins in this scenario vs doing a 9pm tipoff Monday night after long wknd and long day when everyone feeling bleh and tired and in desp need of beauty sleep to the point where even hard core bball fans won't even watch the second half which is a total shame. Who's with me?

@matthewcrory @Aramark I’m gonna go out on a limb and predict the actual serving has a lot less lobster meat than what is featured in this pic!

“The Red Sox will be serving "Lobstah Poutine" at Fenway Park this year! This ballpark food features crispy fries, lobster meat, clam chowder and crispy bacon all served in a custom lobster boat 🤤🦞” (Via: @Aramark )

@MattMcCarthy985 @MLB @MLBPA That’s exactly why we’re heading towards a lockout. Divergent expectations. Look at the WNBA.

Overall, a tremendous tournament. The absolute best you could've ever expected in March. Baseball is in such a great spot moving forward. The best in two decades for sure. There is so much momentum behind the sport. Please don't screw it up, @MLB, @MLBPA

@JonesWEEI Also, great move by DeRosa to put Whitlock out there when you had Mason Miller: 0 hits given up 0 runs given up 10 strikeouts 35 pitches over 100 mph Hitters are 0-12 against him He’s averaging 22.5 strikeouts per 9

Gotta hand it to DeRosa. Any time you can bench a guy who hit 60 HR you gotta do it. Especially when your team can't score.

@iJordanMoore He was saving him for game 2:)

Mason Miller in the WBC: 0 hits given up 0 runs given up 10 strikeouts 35 pitches over 100 mph Hitters are 0-12 against him He’s averaging 22.5 strikeouts per 9 But Garrett Whitlock was chosen to pitch the 9th inning instead of him…

@ChrisVaccaro Considering their Olympic success, Italy is on a heater right now!

Just got off a call with Dario Bazzarini, who played pro ball in Italy and for the Italian National Team in the 1980s. “Adding Italian Americans to this is like being on a rocket ship. This is so good for our movement.” Even the Italian baseball purists are elated about this. Global pandemonium. Forza. 🇮🇹 #WBC

@ledgerstatus And STRC is proving this. Investors are rotating out of private capital funds into STRC. Higher yield, less risky and more liquidity. No brainer!!

Crypto looks like the most obvious commodity / SOV trade left. I say crypto bc while Bitcoin makes the most logical sense for that trade, degenerates are waiting for beta and will pump the other stuff too. Long way of saying UpOnly.

@paulslee84 I wonder how much of this is investors rotating out of private credit funds into STRC. Makes total sense. Better yield, less risk and no liquidity concerns.

This is just incredible—we are past the event horizon of the MSTR black hole. I’m surprised no serious financial media are talking about this.

Perfectly said!

@EricTrump Perfectly said!

Let me make this very clear: Big Banks (think JPMorgan Chase, Bank of America, Wells Fargo, etc.) are lobbying overtime to block Americans from getting higher yields on their savings—while trying to block any rewards or perks from being given to customers. These banks, and others, pay rock-bottom rates on standard savings (often 0.01%–0.05% APY), even as the Fed pays them 4% or more. This massive spread fuels record profits, with almost none passed back to their customers / everyday depositors. Today, the banks are desperately targeting crypto/stablecoins, where platforms plan to offer 4–5%+ yields or rewards. The ABA and other lobbyists are spending millions trying to ban or restrict those yields via bills like the Clarity Act, crying “fairness” and using words like "stability"—when it's really about protecting their low-rate monopoly and preventing deposit flight. This is anti-retail, anti-consumer, and straight-up anti-American. Next time you see a big bank dropping billions on a shiny new Midtown Manhattan HQ, you know exactly where that money comes from: the non-existent interest rate they “pay” you! Fortunately, the big banks are losing this fight as customers wake up to the games… @worldlibertyfi

@NBAonNBC Keep this crew. Sign them all now. Way better than any other NBA broadcasting crew. Now I remember why I loved watching 90s NBA!

ROUNDBALL ROCK INTO BOB COSTAS CALLING PLAY-BY-PLAY! Feels like the old days. 👏 📺 NBC and Peacock

@NBAonNBC I’ve seen enough. This broadcasting crew needs to call at least one game a week and the playoffs. Well done @NBCSports

Wemby makes the block on one end and buries the 3 on the other! 📺 NBC and Peacock

@EricTrump And you’re forgetting the repeated bailouts, whereas crypto has never been bailed out. Tell the banks that if they don’t play ball, no bank will ever be bailed out again. That’ll change their tune.

The “Big Banks”—the very institutions that have held a monopoly and screwed their customers for years, offering near-zero yields on retail Money Market Accounts while crushing low-balance accounts with exorbitant fees—are now doing everything they can to block the Crypto industry from offering real benefits, perks, and rewards on their platforms. They are the greatest hypocrites and are in mass panic given they know they are losing the digital finance race! @worldlibertyfi

Interesting how after Musk bought Twitter, a company Dorsey ran previously, Musk was able to lay off like 70% of the workforce without Twitter users noticing any changes. Perhaps, to your point, Dorsey just over staffs his companies and is now just waking up to this fact. And it has become so obvious to him given the benefits of AI.

On Block. I'm mentally exhausted from seeing almost everyone have the wrong take from the $XYZ news. AI layoffs ARE coming. Across sectors (not just fintech). This is guaranteed over the next 1-3 years. However... The Block layoffs are NOT those. Block has operated with 2-3x the required staff to run their business for a long time (probably 4-5 years at this point). This is WELL KNOWN in the industry. Without their headcount, they most likely would have shipped FASTER. They would be a bigger, more profitable company with a larger product suite on the merchant and consumer side. The promises made by them in their 2021 Investor Day are fresh in my head. I was in awe. Completely visionary stuff and I was in awe, but it was bungled by a lack of ability to execute. It didn't seem like Square or Cash App was moving at all for about 2 years after that. My job is to monitor them (among other things, of course) and I literally removed them from my map of competitors to stay updated on. They came back in 2025 after Dorsey actually came back to run the business. 2022-2024 were completely lost in what I assume to be bureaucracy and nonsense. I, along with others, called Block a retirement home -- lovingly after Microsoft, which I also called a retirement home. These are not AI layoffs. This is the right call to steer a ship that should be a fintech powerhouse back where it probably belonged for the last 4 years. When I saw the news, I was happy as a shareholder that knew all of the above, and a little concerned as a competitor. That is a GOOD THING. Inevitably, they will reach a stage where true "AI layoffs" are possible. Dorsey will again NOT lay his people off. This is who he is -- for all his flaws as an operator, he legitimately cares for his people and company morale and that's why this has built up for so long for such a large headline. I know I only have like 500 followers or something, but I wish everyone could understand this before deciding to post their wrong opinion on everything.

@stoolpresidente @FDSportsbook is offering twice the odds on this same bet before even including the Darnold interception. @DKSportsbook

Here is my Pats parlay for tomorrow. I have t won 1 of these all season. Tomorrow may be the day. I also have 50k to win 1.8 million on Pats. Tomorrow we bring home #7. #nepats #DKPartner

@JulianKlymochko How much of that equity is intangible assets?

While there is an estimated $300 billion of private credit loans to software companies, there is more than $500 billion of private equity capital invested in those same companies subordinated in the capital stack. The typical private credit loan to sponsor-backed software companies is 30-40% LTV. So, in order to see material impairment in software private credit loans, the below private equity firms would need to see $500 billion+ of equity capital vapourized. I doubt that these firms will sit idly and wait for their investments to be disrupted by AI. But even if they do, it's doubtful that the private credit lenders will also do so once they get the keys handed to them. This scenario also ignores the fact that AI may be additive and accretive to software companies. In any event, an 80% impairment to all software companies due to AI, which is being priced in currently, seems like an improbable scenario but is currently assumed as baseline. This would be an extinction-level event for the private equity industry and decimate institutional portfolios.