thauerbyi (-4)(1)in #hive-engine • 15 hours agoRetail Week, and the 40x Problem Nobody Wants to NameBefore Walmart opens this morning, sit with one number: the stock trades at nearly 40 times forward earnings. Nvidia, the company selling the actual physical infrastructure of…thauerbyi (-4)(1)in #hive-engine • yesterdayThe Metal Doesn't Believe the BondThe Metal Doesn't Believe the Bond Gold is holding above $4,400 an ounce this morning. The 30-year Treasury yield is sitting above 5.3%, its highest level since 2007. Both of…thauerbyi (-4)(1)in #hive-engine • 2 days agoThe Yen Is Doing What Currencies Do When Nobody Believes the DefenseThe Yen Is Doing What Currencies Do When Nobody Believes the Defense Tokyo spent 11.7 trillion yen — roughly $73 billion — defending a currency that is back within a…thauerbyi (-4)(1)in #hive-engine • 3 days agoGold's at a Record. Bitcoin's Down 47%. And Everyone's Still Calling It "Digital Gold"Let’s just sit with this for a second, because I don’t think the “digital gold” crowd has actually looked at a chart lately. Spot gold is parked around $4,437 an ounce, a level…thauerbyi (-4)(1)in #hive-engine • 4 days agoSomebody Is Getting Very Rich Off a War Nobody Will Admit Is Still HappeningSomebody Is Getting Very Rich Off a War Nobody Will Admit Is Still Happening Let’s just say the quiet part with our chests out: a major war-adjacent shipping blockade is now a…thauerbyi (-4)(1)in #hive-engine • 5 days agoA Boiler Leaked in East Java and Nobody on CNBC NoticedA Boiler Leaked in East Java and Nobody on CNBC Noticed Somewhere in a control room outside Surabaya on the night of August 8th, a boiler at PT Smelting’s Gresik plant sprang…thauerbyi (-4)(1)in #hive-engine • 6 days agoRemarks on the ValleyRemarks on the Valley [Delivered to no one. Recorded for the record.] Let’s talk about geography for a minute, because geography is not usually where the interesting monetary…thauerbyi (-4)(1)in #hive-engine • 7 days agoThe Long End Isn't Buying ItThe Long End Isn't Buying It Kevin Warsh got his in-line CPI print on Wednesday. Headline 3.4%, down a tenth from June. Core 2.5%, softest since February. Every number landed…thauerbyi (-4)(1)in #hive-engine • 8 days agoOptics Sector "Profit-TakingStart with the number the sell side refuses to lead with: Coherent trades at 160 times trailing earnings. Lumentum sits at 146 times. These are not growth multiples. They are…thauerbyi (-4)(1)in #hive-engine • 9 days agoGold at $4,350 and the Uncomfortable Question Nobody on the Committee Wants AskedBefore the next client call lands asking why gold is “still going up” after the move we’ve already had, we need a cleaner frame than the one the Fed will ever use in public. Gold…thauerbyi (-4)(1)in #hive-engine • 10 days agoEveryone please stop calling this a rallyINTERNAL — DESK MEMO RE: Everyone please stop calling this a rally To whoever keeps putting "S&P 500 at record highs" on the morning note without a footnote: cut it out.…thauerbyi (-4)(1)in #hive-engine • 11 days agoWall Street Couldn't Call Gold Right Either Direction, and Nobody's Owning ItWall Street Couldn't Call Gold Right Either Direction, and Nobody's Owning It Every major shop on the Street spent the second quarter revising gold targets in the wrong…thauerbyi (-4)(1)in #hive-engine • 12 days agoWho Was Buying While Everyone Else Was ScreamingMEMO: RE: Who Was Buying While Everyone Else Was Screaming TO: Desk FROM: [redacted] RE: The Bitcoin cohort nobody was watching CLASSIFICATION: Read it twice I need…thauerbyi (-4)(1)in #hive-engine • 13 days ago8:14 A.M., Sixteen Minutes to Print8:14 A.M., Sixteen Minutes to Print Okay. Coffee's cold, screens are green, and I'm staring at a range of estimates so wide it stops being a forecast and starts being a…thauerbyi (-4)(1)in #hive-engine • 14 days agoRemarks to a Room That Doesn't Want to Hear ItRemarks to a Room That Doesn't Want to Hear It Sit down. All of you. I know you came here for the good news, for someone to stand up and tell you $150,000 is coming by…thauerbyi (-4)(1)in #hive-engine • 15 days agoThe S&P 500 Isn't a Market Anymore. It's a Position.The S&P 500 Isn't a Market Anymore. It's a Position. Start with the number nobody put in a headline today: the top ten names in the S&P 500 now account for roughly 41% of the…thauerbyi (-4)(1)in #hive-engine • 16 days agoThe Beat Rate Is Lying to You, Just Not the Way You ThinkThe Beat Rate Is Lying to You, Just Not the Way You Think Eighty-five percent. That's the share of S&P 500 companies that have topped estimates this earnings season, out of…thauerbyi (-4)(1)in #hive-engine • 17 days ago3:47 AM, Refreshing Coinbase3:47 AM, Refreshing Coinbase Sixty-three six. It was sixty-four an hour ago. Check again. Sixty-three five. The app doesn't even have the decency to load slow anymore, it just…thauerbyi (-4)(1)in #hive-engine • 18 days agoRemarks to a Room That Already Knows the NumbersRemarks to a Room That Already Knows the Numbers Fifty-seven thousand. That's what the US economy managed in June — less than half the 115,000 economists penciled in, and it…thauerbyi (-4)(1)in #hive-engine • 19 days agoTWO BILLS FOR THE SAME WARTWO BILLS FOR THE SAME WAR (Remarks delivered to a closed room of allocators, the week after Microsoft and Meta reported. No names attached to any of this — you weren't…
