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On today’s show, we discuss:
- The U.S. Economy Depends More Than Ever on Rich People
- Velvet Ropes Everywhere
- Berkshire Hathaway shareholder letter
- Why I think AI take-off is relatively slow
- U.S. Housing Market Gained $2.5 Trillion in Value in 2024
Listen here
Recommendations:
Charts:
Tweets/Bluesky:
Industrials flagging weakness for months. Global growth sluggish for months. Hiring and quits rates near the lows for months. Housing impaired for months. Blame tariffs all you want but that’s a tempest in a teapot. Real issues have been brewing for a while. pic.twitter.com/nAcm6AxA5C
— RenMac: Renaissance Macro Research (@RenMacLLC) February 21, 2025
Steve Cohen bearish for one of the first times in years.
— THE SHORT BEAR (@TheShortBear) February 24, 2025
While growth and momentum stocks were in the doghouse this week, Consumer Staples stocks had a party (ex $WMT and $COST). 4%+ gains for more than half of the sector: pic.twitter.com/YHzw6tQYcE
— Bespoke (@bespokeinvest) February 21, 2025
It’s amazing how much money people can make by idly allocating into stuff
It’s even more amazing how much money people lose by trying to actively trade stuff
It’s even even more amazing how heavily people shit on the first while they fail at the second
— loomdart – Holy War Arc (@loomdart) February 23, 2025
1) I have a lot of sympathy for gov’t employees: I, too, have not checked my email for the past few (hundred) days
And I can confirm that being unemployed is a lot less relaxing than it looks
— SBF (@SBF_FTX) February 25, 2025
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