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On today’s show, we discuss:
- Trump wants to ban institutional investors in housing, but would it lower costs? Experts are skeptical
- Slowest Labor Market in Years Leaves Job Seekers Stuck
- US Housing Outlook: Affordability weighing on demand. Supply low.
- The crummy labor market is yielding a ‘tenure dividend’ for corporations
- Every Wall Street Analyst Now Predicts a Stock Rally in 2026
- Wall Street’s Risk-On Fever Shows No Signs of Abating in New Year
- Eric Adams’ NYC Token Crashes Amid Liquidity Extraction Allegations
- Trump Blindsides Wall Street Allies With Crackdown on Housing Investors
- Is Home Equity Fake Wealth?
- Be the GP: How to Invest in the 2 & 20
- Investors Warn of ‘Rot in Private Equity’ as Funds Strike Circular Deals
- How Did TVs Get So Cheap?
Listen here:
Charts:
Recommendations:
- Bugonia
- Powerhouse: The Untold Story of Hollywood’s Creative Artists Agency
- Sentimental Value
- Ladman
Tweets/Bluesky
First @BillAckman said capping credit card interest rates was a “mistake” (in a since deleted post).
Now he says it’s a “worthy” goal. https://t.co/2MTvgcYXOh pic.twitter.com/WjtMxstt4a
— Annmarie Hordern (@annmarie) January 10, 2026
RFK Jr: "Your kids are never going to buy a home."
"There's three big companies: BlackRock, State Street, Vanguard. They basically just own everything."
"And now what they've decided is they want to own every single family home in our country." pic.twitter.com/yTyiCZGBBj
— conspiracybot (@conspiracyb0t) January 12, 2026
NEW: Trump says he's instructing unnamed representatives to buy $200 billion in MBS in a bid to narrow mortgage spreads and bring down rates. pic.twitter.com/gTX89jVCfi
— Nick Timiraos (@NickTimiraos) January 8, 2026
Mortgage spreads reached up to 3.10% in 2023. We started the year at 2%, and recent historical normal levels are between 1.60% and 1.80%. We were close to normal before the news broke out pic.twitter.com/WVB5mPnHkc
— Logan Mohtashami (@LoganMohtashami) January 9, 2026
Institutional investors = 1% of US home purchases. pic.twitter.com/lkpiZbYupW
— Rick Palacios Jr. (@RickPalaciosJr) January 7, 2026
The second fastest growing sector in America in terms of GDP growth from 2019-2024 was gambling. https://t.co/oryjNAruuz
— Matt Stoller (@matthewstoller) January 9, 2026
Eric Adams, former NYC major, has just removed liquidity of his new memecoin, $NYC, scamming investors for over $2,536,301
He launched a $NYC memecoin just 30 minutes ago, and has removed its liquidity after promoting it on his personal social media, claiming to be the NYC token https://t.co/4s20jOTKEN pic.twitter.com/pFAG7l0XMq
— Rune (@RuneCrypto_) January 12, 2026
200bps excess spread vs. syndicated loans
Here’s what that 200bps is paying you for:
> Can't sell it
> Can't price it
> Borrower can stop paying cash and switch to PIK
> You mark it yourself pic.twitter.com/SbwWbUtYvh— junkbondinvestor (@junkbondinvest) December 30, 2025
$JPM CEO Jamie Dimon: "The U.S. economy has remained resilient. While labor markets have softened, conditions do not appear to be worsening. Meanwhile, consumers continue to spend, and businesses generally remain healthy. These conditions could persist for some time…" pic.twitter.com/Cxr8d06y6b
— The Transcript (@TheTranscript_) January 13, 2026
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