Chuckle Fox
@jimdelisle
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“When men choose not to believe in God, they do not thereafter believe in nothing, they then become capable of believing in anything." C.K.Chesterton
EvergrandeChangedEverthinge
Joined November 2012
Donald Trump is Andrew Jackson. The old paradigm is broken and cannot, nor should it, return. We have a 1830-1860 period of remaking politics and parties on front of us. The only thing I know for sure is that the first Bitcoin-backed currency will picture “our” Jackson.
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Irony isn’t dead! I just talked with a semiconductor designer who works for Analog Devices. That’s like a butcher working for Beyond Meat. Seriously, I am just so happy that Analog Devices bought up a bunch of companies in the digital realm. It gives me hope that we (analog creatures) can compete against our AI overlords.
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Spending much of your career in the Jewish institutional world, you probably witnessed the slow steady advance wokeism under cover of tikkun olam. In the intersectional world of victimhood, how surprised can you really be that tikkun olam > wokeism > anti-semitism? You were part of the problem.
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@FnFGateFan @MarkCalabria If that is true, and I agree with you, then other than to give away profits and satisfy Trump backers, why release them?
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@kimestep @MarkCalabria They are going to try to thread that needle. I agree with you that there is next to no chance that there can be a recap and release without several widening events in MBS; but since no one uses leverage in that market, that’s not an issue.
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@MarkCalabria If you are arguing that an exit would not get rid of the implicit guarantee, then why give up the profits that are going to be needed when the implicit guarantee is invoked? You’re the one who’s making the BS argument.
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@SixFinance We tend to massively underweight China because it is a friggin roach motel for Capital. It lets in, but it never lets it out.
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@rcwhalen That understates how tight mortgages are getting. Swap spreads to USTs, have widened quite a bit (gotten less negative) from “negative crazily unprecedented” to only “just plain nuts” in the last couple of weeks.
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RT @BillAckman: The work that @DOGE is doing reminds me of the work we used to do as short sellers, and the excitement we had when we made…
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@MarkCalabria I would love to see that happen. However, I cannot imagine it happening without tremendous concerns evidencing themselves in the $10 trillion agency mortgage pass-through market. Is anyone truly willing to risk that?
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10:56 into the Bruins Rangers game before the Bruins win a face off OR get a shot on net. They win FO 11. Still no SOG. This may be the most impotent beginning of a game in NHL history. Good thing the Rangers suck almost as badly.
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We knew that BXMT was “taking” losses and would show a 2024 GAAP loss when they report next We. However, we’d hoped that this would be reserving and might be reversed later if the extend and pretend game plan worked. Seeing their 1099-DIV for ‘24 kills that hope. Functionally all of its dvds in ‘24 are a return OF capital; meaning that these losses are real and the reserving going forward is going to have to step up to replenish the reserves. Hey, but on the bright side, it means that the dvd isn’t taxable since you are paying yourself! But beware, it is lowering your cost basis.
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The lag is shorter than it once was because primary dealers no longer are the bulwark they once were. The story of the Oct 87 crash almost was/ would have been very different if PDs were operating under todays’s rules of engagement. There USED to be a “plunge protection unit”, and it helped forestall disaster at least once.
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@altcap Calcium scan is NOT covered by Medicare. But it’s the best $132 I ever spent. EVERYONE needs to take it, and then take its results where they lead.
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