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The Dark Side Of Liquidity: The Genealogy Of The AI Arms Race

November 9, 2026
  • Buy The Dip? (Honeypot Training)

    November 9, 2026November 9, 2026
  • What Are Treasurys Telling Us?

    November 9, 2026November 9, 2026
  • Megaspeed Indeed. (Two Huangs Don’t Make A Right)

    November 9, 2026November 9, 2026

Markets

Jensen Got Honey-Trapped

November 8, 2026November 9, 2026
  • Weekly: Melodrama

    November 7, 2026November 9, 2026
  • ‘Dem Fatale’ Crashes The AI Party

    November 6, 2026November 8, 2026
  • On Wall Street: Crash And F’in’ Burn

    November 5, 2026November 7, 2026
  • Did Democrats Just Kill ‘New 60/40’?

    November 5, 2026November 6, 2026

economy

Inflation Week!

November 8, 2026November 9, 2026
  • Inflation Fatalism Has Set In

    November 6, 2026November 8, 2026
  • Drunken Monkey Darts

    November 6, 2026November 8, 2026
  • ‘Tis The Season! For Temporary Fulfillment Jobs

    November 5, 2026November 6, 2026
  • Senseless Iran War Triggers BoE Hike, 5% Inflation Warning

    November 5, 2026November 5, 2026

Geopolitics

Rasputin Presiding

November 8, 2026November 9, 2026

Tsunami

November 4, 2026November 5, 2026

Let’s Talk Blue Waves

November 1, 2026November 2, 2026

Duly Noted

US Jobless Claims Chase History

November 5, 2026November 7, 2026

Tech Got No Love This Earnings Season

November 3, 2026November 8, 2026

“Unidentified” Dong: China Will Not Take Fed Hike “Lightly”

June 15, 2017

“And the pace is getting faster and faster. “

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2 Comments on “Unidentified” Dong: China Will Not Take Fed Hike “Lightly”

And Credit Investors’ Biggest Worry Is…

June 15, 2017

Spoiler alert.

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Darth Trader: “This Is Why I Am Shorting US Stocks”

June 15, 2017June 15, 2017

“After many months of fighting all the naysayers predicting the next big stock market crash, I am finally succumbing to the seductive story of the dark side, and getting negative on equities.”

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3 Comments on Darth Trader: “This Is Why I Am Shorting US Stocks”

Chart Of The Day: Commodities Versus China

June 15, 2017June 15, 2017

No further comment.

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“It Belongs To The Robots”: Gap Between Humans’ And Bots’ Stock Exposure Soars To Record

June 15, 2017

“That money you see sloshing around in the U.S. stock market, it belongs to the robots.”

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“Carry” On, Or Not So Much? Emerging Markets After The Fed

June 15, 2017

So one of the interesting things to note about the price action we’ve seen over

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Sessions Satire: Neurologists Baffled By AG With Alzheimer’s

June 15, 2017June 15, 2017

““In all the medical literature, we have never seen an example of someone capable of holding down such a high-powered job while having no memory whatsoever of people he met, things he said, places he has been, or thoughts he has had.”

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A 12-Chart Visual Tour Of The June Fed Statement

June 15, 2017

Here we are, one day after the Fed and people are still trying to decide

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Having Conquered FAAMG, Goldman Takes On BAT (Baidu, Alibaba, Tencent)

June 15, 2017June 15, 2017

Last Thursday, Goldman’s prop desk decided they needed a lower entry point for the tech

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Nassim Taleb Drinks “Genghis Khan’s Champagne,” Eats A Horse, Becomes Grassland Warrior

June 15, 2017June 15, 2017

But gettin’ all tanked up on Genghis’ horse juice doesn’t, in and of itself, make you a certified “Steppe fighter”…

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1 Comment on Nassim Taleb Drinks “Genghis Khan’s Champagne,” Eats A Horse, Becomes Grassland Warrior

Trader: We’re Playing Tug-Of-War With A Starfish And There’s A “Reptilian Aura” To It

June 15, 2017

“Anyone who claims to know how this populism, saber-rattling and scandals will play out is fooling you as well as themselves.”

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oilLeave a Comment on Trader: We’re Playing Tug-Of-War With A Starfish And There’s A “Reptilian Aura” To It

China Didn’t Pull The Trigger: Here’s Why

June 15, 2017June 15, 2017

Yesterday, we suggested that the most important question wasn’t whether the Fed would put a

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1 Comment on China Didn’t Pull The Trigger: Here’s Why

A Frustrated Trump Addresses Obstruction Investigation: “Nice”

June 15, 2017

So Donald Trump is being investigated for obstruction of justice. If you somehow missed that

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1 Comment on A Frustrated Trump Addresses Obstruction Investigation: “Nice”

The Day After: Yellen’s Big Mistake

June 15, 2017

So here we are, the day after a Fed hike that was supposed to (and

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oil, OPEC1 Comment on The Day After: Yellen’s Big Mistake

Key Calls (Thursday): Upgrades, Downgrades & Initiations

June 15, 2017June 15, 2017

Are your stocks on the list?

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Beware “The Shanghai Death Cross”

June 14, 2017

Is it about to get worse?

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1 Comment on Beware “The Shanghai Death Cross”

“Euphoria”: I’m Lovin’ It

June 14, 2017

Although “posthumous equine abuse” isn’t something we’d list under “interests” if we were say, signing up for a dating site, we don’t mind engaging in it if we think doing so might drive home a particularly important point.

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2 Comments on “Euphoria”: I’m Lovin’ It

WaPo: Trump Now Under Investigation For Obstruction Of Justice

June 14, 2017

Well, if Donald Trump didn’t want to fire special counsel Robert Mueller, he goddamn sure

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3 Comments on WaPo: Trump Now Under Investigation For Obstruction Of Justice

Forget The Fed: These Are Wednesday’s Most Important Numbers

June 14, 2017

First thing Wednesday morning, before the abysmal data deluge hit in the US and before

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“Alt-Right Makeover”: Making Hate Cool Again

June 14, 2017

“Among those who demonize others, I just don’t seem to fit in”…

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1 Comment on “Alt-Right Makeover”: Making Hate Cool Again

Traders, Analysts “A Bit Surprised” Yellen Wasn’t More Dovish

June 14, 2017

“This has apparently come as a bit of a surprise to a market that had greeted this morning’s CPI report as potentially a ‘game changer.”

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In Jeff Sessions’ Office, “A Black” Is Never, Ever Called “Boy”

June 14, 2017

“‘Boy’ is a reprehensible term to use to describe a black man in the South. Because of the history of that term, I have never used the word ‘boy’ to describe a black, nor would I tolerate it in my office.”

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8 Comments on In Jeff Sessions’ Office, “A Black” Is Never, Ever Called “Boy”

Fed Hikes Rates: Redline And Full Highlights

June 14, 2017June 14, 2017

FED MAINTAINS BALANCE SHEET REINVESTMENT, LAYS OUT UNWIND PLAN
FED RAISES TARGET RANGE FOR FEDERAL FUNDS RATE TO 1%-1.25%
FED SAYS IT EXPECTS TO START SHRINKING BALANCE SHEET THIS YEAR
FED SAYS IT’S `MONITORING INFLATION DEVELOPMENTS CLOSELY’
FED RAISES RATES, MAINTAINS FORECAST FOR ONE MORE HIKE IN 2017

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Call Janet Yellen A Dove One More Time…

June 14, 2017

“The bond market is speaking, but most aren’t listening. It is telling us that Yellen is tightening too quickly. Or at least, she is by no means anywhere near as easy as the popular narrative.”

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3 Comments on Call Janet Yellen A Dove One More Time…

A Furious Jeff Gundlach Asks: Is Jim Cramer A Spreader Of “Fake News” Or Just An Idiot?

June 14, 2017June 14, 2017

Jim Cramer has been “truth”-ed.

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4 Comments on A Furious Jeff Gundlach Asks: Is Jim Cramer A Spreader Of “Fake News” Or Just An Idiot?

The Big Question: Will China Hike Tonight Following The Fed?

June 14, 2017June 14, 2017

“This time may be different”…

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Now They’ll Be More Dovish: Goldman Tweaks Fed Outlook After CPI Miss

June 14, 2017

“We now expect the FOMC statement to include a stronger acknowledgement of the recent soft inflation data, and our expectations for the Summary of Economic Projections have become incrementally more dovish.”

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Monthly Letters

The Arbitrageur

October 29, 2026October 29, 2026

To Be Happy

September 4, 2026September 4, 2026

Hell Or High Fashion

July 3, 2026July 3, 2026

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