Chris Cannon

this is the nasdaq 13 day return. the other dates here are hilarious.

@tomkeene tweet gamma

@CFAinstitute🧏‍♂️

LIVE: They are coming home. Watch as the Artemis II crew returns to Earth, splashing down at around 8:07pm ET (0007 UTC April 11). twitter.com/i/broadcasts/1…

@stockgutter @irbezek @ERAUBusinessDB 🙄

Enough with these garbage ETFs. 90% of ETFs are trash, yet a few gaps remain. I'd like an ETF of global equity & futures marketplaces (ICE, Nasdaq, CME, CBOE, OTCM, TASE, HKEX, etc...) and one of global airports (hint @irbezek)

Lol, someone pointed out that cattle ranching in US actually began in Florida, and then found a paper about that written by my father! x.com/spartinasouth/…

@madaboutmarkets @RobinJPowell

Doing nothing , is doing something .

@kgreifeld @tangentstyle

Satoshi's identity is easily the most compelling modern mystery

Delta to cut routes and raise charges to counter $2bn jet fuel hit ⁦@ERAUBusinessBD⁩ giftarticle.ft.com/giftarticle/ac…

tweet of the day

@BrianRoemmele Reminds me of the Hygiene Hypothesis (or "hyper-clean theory")

NEW PODCAST: What happens to ordinary people when the necessity of toil is removed? If you don't have to fight for your survival, what do you fight for? If survival is no longer the plot of your life, what is? Abundance forces you to generate internal purpose. The true crisis of the abundance interregnum isn't a robot uprising at all. It's an identity crisis.

@CC_Rock Great find, Chris. And it is another behavioral difference between the arm and leg of the K. For those at the bottom, accountability is all but immediate. The reframing of bad decisions is a privilege available only to those above.

Tiger Woods And America’s Addiction To Excuses ⁦@Peter_Atwater⁩ see this? outkick.com/analysis/tiger…

@MarketIntegrity @CFAinstitute @CAIAAssociation

@MarketIntegrity @CFAinstitute @CAIAAssociation

$OWL There was a random HF interview in early 2008 where the PM explained his short on ML. All the banks were black boxes (still are) with minimal disclosure. The HF said bluntly that $GS was the best, $MS was solid and ML always was late and stupid vs. the other two. His thesis was that if there were problems, you knew $GS $MS would make it through but ML would probably be the line that seperated survivors from casulties. It is in this context that we look at PC. The reflexivity plays out slower (none of these guys are wholesale funded and 30x levered), but it still plays. Advisors redeeming from $OWL are doing so because they look in the mirror and don't have any assurance that the marks are real or the risk is priced right. The CNBC interview and fake mark validation transaction were a disaster that could only be concocted by a banker (ie not an investor). No sane person in markets would think to do that, because it obviously would make things worse - and did. They tried to make the market comfortable and instead confirmed everyone's worst fears about their process and risk management. You can't unring that bell. LPs in credit want Tuld in Margin Call. They love when they see guys like $APO say "All the marks are wrong and we are going to MTM every month. We sold SaaS last year because that was the one big risk and we wanted to be first if anything happened." They love Tuld in Margin Call because they know that everything is a black box and you have to have full trust in the guys managing illiquid risk. They demand Tuld because he wouldn't think to come up with the stupid "sell to 4 insurance companies and lie about the price you got" maneuever...he would see trouble and move heaven and earth to get Sam and his "guys on the floor" to stuff the street and get out while you still can. RIAs and HNW guys are made out to be rubes at the table by a lot of people in Alts. In reality, they are "simple" killers who often make binary decisions. They have all been screwed over by a "Johny Slick" Wall Street guy at least once in their career. My dad, an RIA for 40+ years, still has pain in his eyes about getting screwed by Icahn in TWA where "he was behind me but got his money out first." His lesson was never be in situations like that. The 40% redemption level in the $OWL techfund (20% in flagship) is RIAs saying they have seen this before and just put you in the box of "get this off my desk." It's a way worse box than a 10% redemption level during peak volatility. It means they not only want their money back, they don't ever want to talk to you again...they want Tuld and nothing less than that will do.

Whenever you hear “democratize access” to “privates”, especially in ERISA plans, think, “socialize the losses” @MarketIntegrity @CFAinstitute @CAIAAssociation @USDOL

@AldrinFamilyFdn @ERAUBusinessDB @eraucie @Peter_Atwater

@ERAUBusinessDB @eraucie @ERAU_Daytona