Control X

@meredithdicken1 @0hour1 They should hang.

@0hour1 Nobody who was in office during the Palisades fire should be running. They should hang their heads in shame

Spencer Pratt now leads the race for mayor of L.A 28% 5 points ahead

@aakashgupta He’s called 11 of the last 1 recessions and his fund returns reflect that. Flat for a decade.

This guy runs $224B and just said the S&P 500 will make zero through 2036. This is Howard Marks. The guy who called the dot-com top with a memo dated January 2, 2000. He's explaining the JP Morgan chart that plots historical returns against S&P 500 forward PE. Right now, forward PE sits at 20.9. The forward 10-year return at that multiple? Between minus 2% and plus 2%. Zero. But the chart already failed once. In December 2014 the S&P traded at 16x forward earnings. The chart predicted 5 to 7% annualized through 2024. Goldman ran the attribution last October. Earnings grew 7% per year. The multiple expanded from 16x to 22x. Dividends added another point. Total: 13% annualized, 233% cumulative. The chart undershot by 700 basis points per year for ten straight years. The reason sits inside the index. In 1988 the S&P 500 was anchored by IBM, Exxon, GE, AT&T, Merck, Coca-Cola, Philip Morris, Walmart, plus a stack of oil majors and consumer staples. Capital intensive. Net margins around 6%. Factory depreciation, oil price exposure, regulated pricing. Today the top is Nvidia, Apple, Microsoft, Amazon, Alphabet, Meta, Broadcom, Tesla, Berkshire. Those names alone are 36% of the index, up from 23% in 2000. Six of the nine run operating margins between 30% and 60%. Software and chip designs that scale at near-zero marginal cost. Network effects compounding. Buybacks running 2 to 3% of market cap on top of dividends. The 22x multiple is partially a re-rating of structural earnings power. A dollar of S&P 500 revenue today produces roughly twice the net income it did when the regression line was being calibrated. The scatter plot treats both observations as equivalent. Marks flagged this himself in his January 2025 On Bubble Watch memo. His counterargument section reads: "the Magnificent Seven are incredible companies, so their high p/e ratios could be warranted." That sentence rarely makes the clip. Goldman's current forecast through 2034 is 3% annualized. Sell-side consensus is 6%. The JP Morgan chart implies zero. Three teams reading the same starting multiple, three different answers. The chart works as a regression on a stable index. It breaks when the underlying entity changes. The regression is correct. The companies it was fit on are gone.

@SenWarren @JetBlue @SpiritAirlines @JusticeATR @USDOT Your overall contribution to society has been more damaging than most parasites. Quite the achievement, poca.

I've warned for months that a @JetBlue-@SpiritAirlines merger would have led to fewer flights and higher fares. @JusticeATR and @USDOT were right to stand up for consumers and fight against runaway airline consolidation. This is a Biden win for flyers! apnews.com/article/jetblu…

@SenWarren Funny because at the time, you howled about it like you’d just taken a scalp. So to speak

Spiking fuel prices from Trump’s war was the nail in the coffin for twice-bankrupted Spirit airline. FWIW, JetBlue merger failed because a judge, appointed by Ronald Reagan, said the deal was illegal. Republicans are desperate to shift blame from higher costs hitting families.

@SenWarren @JetBlue @SpiritAirlines @JusticeATR @USDOT Perhaps stick to Native American recipes in the future? Business is not your strong suit.

@wolfejosh Surely investors in the huge round they announced this year would have seen 2025 numbers? Any chance this is just misleading oppo being dropped in parallel with the start of the trial?

I have no idea how this ends and leadership swaps every few month But -the litigation w Elon (who doesn’t lose), -Anthropic’s runaway momentum for the moment -the quiet shutdown of Sora -the critic spotlight on financials/fundamentals instead of product makes this spicy

@ScottJenningsKY @kaitlancollins The usual level of CNN ‘confirmed’ facts

LIVE ON CNN NOW - @kaitlancollins confirms a shooter confirmed DEAD at White House correspondents dinner.

@Ed_Miliband Oh wow, you control the wind do you?

We’re facing the second fossil fuel shock in less than 5 years. Events far away are once again impacting families and businesses here at home. We can’t go on leaving our country so exposed. The solution lies in clean homegrown power we control. bbc.co.uk/news/articles/…

@grok @_sharehldr @financialjuice Is this positive news for $xlu

The White House issued a memo invoking the Defense Production Act (DPA) to boost U.S. domestic petroleum production. The DPA (1950 law) lets the President prioritize contracts, allocate resources, and direct industry for national defense/energy security needs—here, ramping up oil output to cut foreign reliance amid the declared energy emergency. This builds on prior uses (e.g., forcing CA pipeline restarts). Details still emerging, but it's about prioritizing American energy production.

The White House issues a DPA memo on domestic petroleum production.

@RoKhanna All you ever want to do is spend other people’s money, with no accountability for the waste or for the results.

AIPAC says I’m not Team America. Why? Because I want to spend the $400b to make college & trade schools free and childcare $10 day. Not on the Trump/Netanyahu alliance for an illegal, immoral war in Iran.

@curtis_yarvin Dario is *selling* to people who use his product. You are right on the economists though.

Dario is talking to people who use his product The economists are studying the geometry of spherical cows

Dario is wrong. He knows absolutely nothing about the effects of technological revolutions on the labor market. Don't listen to him, Sam, Yoshua, Geoff, or me on this topic. Listen to economists who have spent their career studying this, like @Ph_Aghion , @erikbryn , @DAcemogluMIT , @amcafee , @davidautor

@RahmEmanuel Well said. I hope you run for office.

We can either be a country of gamblers or a country of entrepreneurs and innovators. It’s time to bet on America, not against America. No more nepo babies in Palm Beach gambling on our national security interests. A 10% tax on prediction markets and online sports gambling enables America to focus on what’s important – investing in NIH and NHF. Let’s compete and win the future.

@grok @ionyad @grok What do the memos show

- Shadow docket: Supreme Court's secretive process for major rulings via short, unexplained one-paragraph orders, skipping briefs, arguments, and full deliberation. - Originated in 2016 with 5-4 order blocking Obama's Clean Power Plan (case 15A773). - Increasingly used for emergency actions, including over 20 victories for President Trump on immigration and agency power. - Breaks from 200 years of deliberate, transparent Court process. - Secret memos obtained by NYT reveal origins; now routine but criticized for lacking transparency and deliberation.

Wow. nytimes.com/2026/04/18/us/…

@KobeissiLetter Have you verified that account as real or nah?

BREAKING: Iran's Speaker of the Parliament Ghalibaf says President Trump made "seven claims in one hour, all of which were false." Speaker Ghalibaf says: 1. The US "did not win the war with these lies, and they will certainly not get anywhere in negotiations either" 2. "With the continuation of the US blockade, the Strait of Hormuz will not remain open" 3. Passage through the Strait of Hormuz will be conducted based on the "designated route" and with "Iranian authorization" 4. "Whether the Strait is open or closed and the regulations governing it will be determined by the field, not by social media" 5. "Media warfare and engineering public opinion are an important part of war, and the Iranian nation is not affected by these tricks" This statement came after markets closed for the weekend, following the S&P 500's fastest recovery since 1982. We expect to receive a US response soon.

@LeadingReport When you let the theater kids try business…

NYC’s Mamdani’s ‘affordable’ city-run grocery store is 10x more expensive per square foot than Whole Foods, per new study.

@MauroBianchi24 Likely they do another rights issue to raise $$ to finance this?

$AAOI this morning announced a major capacity expansion in Texas. The CEO said: “The demand for optical connectivity in data centers has exceeded our expectations.” They’re buying two new buildings, bringing their Houston footprint to 900,000 sq ft. Goal: scale up to 700,000 units per month of 800G + 1.6T transceivers + 350% more laser capacity by end of 2027. Why this matters: It puts them in a much stronger position to sign new deals in the coming months — while they prepare for the real CPO ramp in 2027–2028.

@Keir_Starmer You are so embarrassing

It’s good news that the Strait of Hormuz has now reopened. This must be a long lasting and workable solution, without tolls or restrictions on routes. Today we announced our joint plan with France and other international partners to protect freedom of navigation. We need to see a return to peace and stability, and a permanent ceasefire.

@PolitlcsUK Hilarious

🚨 BREAKING: Keir Starmer says the UK will lead a defensive military mission with France to protect shipping in the Strait of Hormuz