drive in bike lane

Can we region mute yet bro I can’t take India regurgitating the 2010 internet anymore

you don’t even need to know game theory for this bro if you choose blue you should be banished to the mines

time to go rip stimulants and chat with the ai robot all day

I have built a spreadsheet. It has 847 rows. Each row is a community bank in the United States with a market cap below $200 million, a price-to-tangible-book ratio under 0.85, a non-performing loan ratio below 0.4%, and a CEO who has been in the role for at least twelve years. I update it every Sunday from 6 AM to 11 AM while my family attends church without me. I have visited the headquarters of nineteen of these banks in person. I have eaten a complimentary lobby cookie at each one. The cookies are how you can tell. A bank with a good cookie is a bank that respects its depositors. A bank with a stale cookie is a bank that will be acquired within 36 months at a 40% premium. I am never wrong about the cookies. The cookies have never lied to me. The cookies are the only thing left that tells the truth.

One of the worst communication gaps is between people who care about precision in language and those who don’t

@_zayfromny_ @mvpletea Why do you look at your phone more than once an hour?

@mvpletea I hate the” sorry I didn’t check my phone I was so busy “ it takes legit 30 seconds to send a quick message to someone. If someone can go hours without talking to you they don’t care about you and I will die on that hill

why did the algo swap to nothing but gupta gpt pastes

@yieldsearcher bro’s never read a single word from an offering doc

Just fyi, the mgmt fees on private equity and private credit funds are calculated off the NAV, not their mark to market value. Why they are not going to mark those down until realized.

You lost like half your AUM because you put up a 2.8% CAGR…

the private credit dialogue has provided ample support for never changing accredited investor restrictions

@yenoms @kieranwgoodwin It’s not. Drawdown PC AUM is way much larger than what’s in listed BDC’s. Nigh everyone on twitter though does not work in the industry (or adjacent) and repeat headlines

@kieranwgoodwin Wow, I didn’t realize it was that skewed towards evergreen. And just to make sure I understand.. the private placement are drawdown, and the interval funds are most similar to evergreen since there is not set life for their fund?

The non-traded BDC is flawed since it violates the original purpose of Private Credit which was to solve the asset/liability mismatch of a bank lending to a corporate and being subject to getting its deposits pulled. So PC solved that with a drawdown vehicle that matched the duration of the loan and the fund. Then PC decided to ignore the A/L mismatch in order to gather more AUM and fees given that retail demands liquidity. But given that NT BDC do exist, if I were as investor, I would want the manager faced with redemptions exceeding the 5% limit to: a) Stop making new loans and use all repayments of principal for redemptions (maintaining proper leverage ratios). b) Sell any loan that that could be sold above $95. c) Cut their fees substanstially while they are not able to meet redemptions. d) Assert their rights as creditor and stop the extend and pretend charade. e) Mark the portfolio accurately when a loan is clearly stressed to give the investors visibility. f) Basically make every decision to put the investor first as opposed to the managers fees. PC created this inevitable situation so now they should solve it.

@iamthdarklord @LeylaKuni I too frequently see pensions and insurers getting blown out after putting their entire portfolio into a shitco they saw one WSB post about and blaming Citadel for manipulation

@LeylaKuni People like to pretend retail is the dumb money when the real dumb money is pensions and insurers. If private credit falls, the blast radius will be impressive.

the next question: - if semiliquid retail vehicles are 20-30% of the market (and good luck to them raising $$), - insurers are 50% (and they are stuffed with CLOs already), - and the rest are endowments/pensions WHO'S THE BUYER?

Hello Mr. ChatGPT is there poo in the butt?

@TheStalwart you just found this out?

The fact that one can get an LLM to put together a cogent-sounding argument in favor of virtually any position has left me feeling cynical about human debate and discourse. That it’s (almost) all a game wholly sealed inside language itself without tether to the world.

@DiffFGC @Frankentank9 It’s 7 games minimum. Completely fresh account landed in mid Phantom after 7 games in Dec 25.

Okay so peeps who are playing Deadlock I'm not even 10 hours in to the game, how the fuck am I Oracle 2 I am way out of my league here

guy who’s been tracing Bart Simpson for the past decade with face tattoos sippin lean double cup all iced out wearing Nikes and a box logo suddenly wants to educate everyone on the dangers of ai art and why artistic integrity is very important

@OlderFrogs @TheSalonDon @michaeljburry When technical analysis uncovers a security’s price moves with certain indicators/events, and has historically, what word would you use to describe this?

$BTC Patterns

personally i think "john [name of thing]" is the funniest bit of all time

as a society why’d we accept locking ourselves inside for 3mo w/o any sunlight and driving ourselves to the point of insanity before ever contemplating a better solution