Morning Brew ☕️
"your honor, it seems unfair to label my clients actions as 'insider trading', they were simply doing a bit they found on reddit" https://t.co/vAi9BJPaR9
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Frederik Gieschen
Renaissance's edge: “We’re right 50.75% of the time ... but we’re 100% right 50.75% of the time,” Mercer told a friend. “You can make billions that way.”

But even the casino has to be careful if high leverage meets a bad streak.
https://t.co/hj3uDoGlEg
Jim Simons on overriding the model during the 2007 quant quake (Man Who Solved Market): "Medallion needed to sell, not buy, he told his colleagues.

“Our job is to survive,” Simons said. “If we’re wrong we can always add [positions] later.” - Frederik Gieschen
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Special Situations 🌐 Newsletter (Jay Singh III)
Gasoline demand dropping sharply in the middle of the summer. Consumer slowdown? Demand Destruction?https://t.co/ReXDIOu07m $USO $UCO $XOP $XLE $XOM $VLO https://t.co/8WOKlzDP3r
The decline in US gasoline demand this time is large relative to recent history. Why?
#Gasoline #Oil #OOTT #COM https://t.co/QihXGls7Pk - Anas Alhajji
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Special Situations 🌐 Newsletter (Jay Singh III)
CHINESE AUTHORITIES HELD EMERGENCY MEETINGS WITH BANKS AFTER GROWING ALARMED THAT AN INCREASING NUMBER OF HOMEBUYERS ACROSS THE COUNTRY ARE REFUSING TO PAY MORTGAGES
https://t.co/9Fw7Z6SMfI
Chinese buyers in 35 mega projects in 22 cities refuse to pay mortgages on delayed construction projects (1.4% of all mortgages) --> very concerning!

Home loan pmt halts may cause 561B yuan / $83B of bad debt; China Construction Bank, Postal Bank, ICBC exposed

Thx @ColossusBIO https://t.co/7woHix1p93 - Special Situations 🌐 Newsletter (Jay Singh III)
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Read Rust
RT @rust_foundation: Kani is an open-source verification tool that uses automated reasoning to analyze Rust programs.

This new blog provides a walk through building a proof harness for #Firecracker that the #Kani #Rust verifier can analyze in seconds.

Check it out 👇
https://t.co/AF31dKaBeA https://t.co/RuDNgynZUb
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FXHedge
GOLDMAN: MARKET REVERSED HIGHER ON THESE HEADLINES THIS AFTERNOON

1) BULLARD: 75-BPS HIKE WOULD GET TO NEUTRAL AT NEXT MEETING
2) WALLER: 'MARKETS MAY HAVE GOT LITTLE AHEAD OF ITSELF ON 100 BPS.'
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Morning Brew ☕️
made sure we read the latest edition of Morning Brew https://t.co/5al0hoTenh
Did u add to your legacy today? If so, what did u do? - Kevin Durant
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Morning Brew ☕️
"hey, have you ever heard about NFTs?" https://t.co/Twsx4ncCji
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James (is looking for a prod role)
So many Xi'an Famous Food clones in NYC. None half as good.
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Morning Brew ☕️
crypto bros as soon as they see the slightest of gains https://t.co/rrMAAOpjEN
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Special Situations 🌐 Newsletter (Jay Singh III)
Celsius Bankruptcy Docket Update: How does one achieve a -$1.2 billion deficit overnight? Is there any risk management in the crypto industry? Thx @ryancerfus #CryptocurrencyNews #Bitcoin #Ethereum $coin $mstr $mara $riot https://t.co/Hy4PQ5MKzH
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Special Situations 🌐 Newsletter (Jay Singh III)
Mexican lender "Credito Real" announces court orders liquidation following lawsuit! Thx @ExcaliburTrade
https://t.co/5YjdYZvREo
Non-bank lender Credito Real said a Mexican court has ordered it to liquidate following legal action brought by a shareholder https://t.co/hIe2IdOCRU - Bloomberg
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Special Situations 🌐 Newsletter (Jay Singh III)
2H22 is going to be absolutely insane for capital markets globally...forget "helicopter money" or "soft landing"...going to need parachutes until leading indicators start to inflect.

Cash/NAV SPACs, hard catalyst arb, CEF arb, Prefs & SPAC alpha shorts are where we are hiding.
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Special Situations 🌐 Newsletter (Jay Singh III)
Don't fight the Fed; don't fight the mighty US dollar
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