Danny Russell, CFA

Here’s Alito on section 2 “Compliance with Section 2, as properly construed, can provide such a reason. Correctly understood, Section 2 does not impose liability at odds with the Constitution, and it should not have imposed liability on Louisiana for its 2022 map. Compliance with Section 2 thus could not justify the State's use of race-based redistricting here."

Discussion at the WH today hinged on precisely this issue. Some argue that Iran will cut a deal to prevent costly damage to its oil fields. Others are more skeptical--Iran has not changed its position after a month of war, why would more economic pressure force it to change now?

🚨I hate to keep harping on those low IQ’s but every time I try to ignore them a genius like this comes along.🤣 A Democrat congressional candidate, Ala Stanford, who proudly supports abolishing ICE gets asked a basic question about her position… and completely freezes. She literally asks to pause the interview because she has zero clue why she believes it. This is who they’re running for Congress.

WARMTH OF COLLECTIVISM UPDATE: Mayor Zohran Mamdani declares a "budget crisis," asks for a bailout from the state government, and pushes back his deadline for completing the city budget at least 10 days: "We cannot close this deficit with savings alone. We need new revenue, and we need a structural reset in our relationship with the state. That is the only way to meet our legal obligation to pass a balanced budget."

Hedge funds are not businesses. They produce nothing.

I don’t think enough affluent New Yorkers have bothered looking at the NY Comptroller report. There are very material holes in the state budget that were filled by federal funding to offset heavy spend on migrants as part of NYCs sanctuary city initiative as well as general fiscal neglect. Trumps incentive is to allow Mamdani to take over and then ensure his tenure is a flaming dumpster fire by normalizing Federal funds back to pre-COVID baselines. This is a material step down vs the assumptions currently being made by the State. In other words the tactic will be to squeeze state finances and blame the stubborn state funding of illegal migrant services. By 2028 things will get so bad Republicans will have a sincere shot at both NY and NJ. But if you are an affluent New Yorker you are the obvious first victim of trying to close this shortfall. If Mamdani wins you should be giving serious thought to exiting because the delta in tax rates vs NJ or CT may end up being substantially more than the 4pts you think it is.

Ken Griffin will now be meeting with NY governor Kathy Hochul on Thursday following his threats to pull NYC plans for Citadel after Zohran used Ken’s penthouse for his eat the rich promotional video. The two will be reportedly discussing the future direction of NYC. Ken said overnight that Mamdani’s decision to single him out demonstrated a “profound lack of judgement”. He also noted “what upset me was the personal attack”. Guess it’s now on Kathy to try and do some damage control

We were being subsidised this much? Wow. Cursor claiming the $200 plan is actually $5000 was actually true it seems.

Oh no