Special Situations 🌐 Newsletter (Jay Singh III)
Get several hundred DMs per week. If the answer to your question is on this timeline in a tweet, please excuse if we cannot get to it. If you are a subscriber, just send an e-mail instead.
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Special Situations 🌐 Newsletter (Jay Singh III)
Coinbase $COIN is falling out of the coveted list of the world’s top 10 digital-asset exchanges by volume as markets battle crypto winter.

Latest data shows the firm is now the 14th largest exchange, down from fourth-biggest in late 2021, according to Mizuho Securities USA LLC.
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Special Situations 🌐 Newsletter (Jay Singh III)
Euro/USD briefly breached parity. How low will it go? And who wants to support the EU by taking a trip to Italy with me? https://t.co/qErfXH5UHm
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Frederik Gieschen
RT @72types: How did Buffett compound at 50% in the 1950s?

Take a look at his largest investment in 1955: Philadelphia & Reading.

Buffett’s P&R Investment:
- Bought at 0.5x book value in early 1955.
- Book value doubles over 5 years.
- Sold at 2x book value in late 1959.

CAGR = ~50% https://t.co/9nXkObnsOj
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Paul Graham
Someone asked me how the startup world views founders who fail. It depends how. If you (a) make something good and (b) understand why you failed, you'll generally be admired. Whereas if you make something lame and blame others for its failure, you won't be.
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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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