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What exactly I'm missing? I just wrote a lot of text about that. I checked this: https://www.theguardian.com/world/2026/mar/26/finnish-mp-paivi-rasanen-convicted-homosexuality-developmental-disorder That's what I'm talking about. There is a long standing law in question, and "the US-based conservative legal advocacy group Alliance Defending Freedom, which has tried to use her case as an example of censorship in Europe" is upset about something happening in another country with different rules.

Yes, I believe you. You are no Thomas Gresham.

You are missing my point, in Europe free speech is limited, in the US, not really. Check out Paivi Rasanen case in Finland. Oh, and it's bullshit that you cannot say kniga in the US. It is a not a crime. I say it all the time in public to my kids. You were told not to say it because blacks might not hear the first letter and get offended. That's different from the government punishing you for it.

Nothing? In Germany, some people who say this are literally in the parliament. Btw, who promised free speech in the first place? In Germany it is clearly limited by federal laws. For example, insulting somebody is a crime, as it in the law for long time already. Quoting the Nazis is also a crime. Just don't do crime and get familiar with local laws before you enter a country. But the courts are quite relaxed, and they usually allow of some insults to politicians, because it's part of politicians' job to have a thick skin. When I visited the US, I had to prepare and learn many things: what to say to the border control, that if I'm stopped by road police I better keep my hands on the wheel and visible, that I must keep alcohol bottles in trunk when driving, and cover a bottle with a paper bag if drinking in public. That I must not say the Russian word "книга"("book") in public. Those feel ridiculous, but I accepted and prepared as a guest. Same with Germany. The American populists, including the current ruling class, love to compare rules like that with other countries and imply that it is something bad.

Lol @ interest in the bank How much has that paid over the last 15-years compounded? I'd love for you to do the math. Meanwhile, good money vs bad money in pictures 2018 drop felt large. It barely registers on the graph. 2022 felt large - now looks rather small. 2026 feels large - and in 10-years will look like 2018. The lack of any sort of intellectual rigor or honesty here to simply set up straw men arguments is absurd Fiat is "bad" money by most any monetary definition of the things that define what makes money. 1) Acceptability/Fungibility? Take a look at global reserve. Becoming less and less acceptable by the year for the last 20-30 years. 2) Divisibility? Had to convert to digital to be competitive. 3) Durability? Paper money wastes away. Digital money transactions can be reversed/deleted/cancelled. 4) portability? You ever tried to carry 50-100k of cash? Again, have to convert to digital and still get bank limits, fees, permission/censorship, and delays in processing as a result. 5) scarcity? Don't hold your breathe. They print billions daily out of thin air. I'll take the non-inflationary, permissionless,fast, cheap, self-custodied real deal all day.

Thanks for sharing. As with the Taylor Morrison acquisition I like this because these cyclical businesses that generate solid free cash flow on average through cycles make a lot of sense under the Berkshire umbrella. At the same time they’re building scale and can exploit cost synergies at the parent level.

https://www.housingwire.com/articles/mcguinn-homes-sale-scale/

Plus I'd add that "wipeout" here would be a 100% loss. Far better than the unlimited upside(downside) known to be brought up as a detriment to shorting. Either way, hoping for some shorter term mean reversion and sensibility. Too many apes just chasing the same few names. Not dissimilar from the past half decade or so, but at least the FANG and MAG7 stuff were quality companies.

Mostly a lurker so far, but this seems to be where the action is — so, recent adds, small slugs each: EQT — flat YTD while everything AI-adjacent went vertical. The buildout's binding constraint is electrons, not chips, and the demand behind EQT is now contracted, not narrative. Breaks on Henry Hub: the volume is de-risked, the price isn't. VICI — gaming triple-net at ~9x, high-6s yield. The rate de-rated, not the business: AFFO still growing, full occupancy, CPI-linked escalators. I'm paid ~7% to wait out a rate cycle. Breaks on tenant rent coverage, not on the 10-year. ISRG — the installed base is the razor blade; instruments and procedures recur, the robot is almost incidental. Cheaper this year for a legitimate reason — credible competition — and I paid up knowing it. Breaks if procedure growth decelerates while instrument pricing compresses: two lines, same filing. Common thread: things this tape left behind. Not advice — small discretionary book, sell-discipline keyed to business KPIs, and a ledger that will report back when one of these makes me look foolish.

Yeah you sell chips at a low PE and buy at a high one. The lower the PE the closer to the peak probably. Oh yeah they aren’t cyclical anymore I forgot.

That seems to be close to what I am thinking for bond losses.

It’s a bit under a 3% position so if it’s a wipeout it’s nbd. An 8x a generational EPS run is stupid expensive, not cheap. Didn’t we see that with Zoom not long ago? And yes, video meetings were gonna be big and still are big.

Good afternoon. I'm from Argentina, so perhaps my analysis is a bit biased. I think France and Argentina are the teams playing the best right now. Since it’s a short tournament, I believe there are several young teams (USA, MOR) that could emerge as surprise contenders and there's also the Brazil factor. For me, the most important thing is that the level of play has been very high so far; it’s truly enjoyable to watch.

Congrats !!!

I’ve been through 2000. But I don’t think this is a bubble that will burst soon. Might just be the beginning

Ya, I've been burned a few times trying to short the market via puts or buy vix calls/futures. I have an inclination that the best way to bet against this stuff is to buy far OTM puts, either long dated or continuous rolling of short dated. You'd lose on anything but massive drops, but if we do think this is a bubble, then we should bet on massive drops only.

If I had visited New York 10 years ago in my early twenties before I was married with a mortgage it would have forever changed the trajectory of my life. My tiny midwest eyes were so closed. I thought I was well traveled because I had been across the entire American West and a few foreign countries. But New York is a different beast.

Everything you said rings true now that I made a cursory visit there. Thank you!

wish i made 2.2bln....hot damn

The founding fathers of BTC, saw that "bad money" as the product of central banks .... Like any tool, it does some things better than others (store of value, vs medium of exchange), and it is to the owner to use appropriately. SD

Great game!

Fuck YEEEEEEEEEEES

BTC leg of a mid Feb pair trade sold at around USD 89K (via a BTC-ETF), the o/g leg put on shortly before the Iran war. While analytics helped with the decision, the reality is that much of it was luck ... and exposing ourselves to it (tail risk). Long straddles ..... Good luck. SD

Wait, it's not as simple as good money vs. bad money? Was left with the impression that "bad money" is stored in the evil bank while earning interest +/- the rate of inflation and can be used to buy or sell anything while "good money" can't be used to buy much of anything, isn't even used by some of its most ardent supporters and is priced all over the place as measured in "bad money"? You learn something new here every day.