⁠The Kobeissi Letter
Global trade outlook is deteriorating:

The World Trade Organization expects world merchandise trade to fall -0.2% in 2025, down from +2.7% growth expected at the beginning of the year.

This would follow the +2.9% growth recorded in 2024.

North American trade is set to be hit the hardest, while Asia and Europe will continue to see modest growth.

The WTO also highlights that if the US imposes higher reciprocal tariffs after a 90-day pause, global merchandise trade could drop by -1.5% this year.

For 2026, the WTO forecasts +2.5% growth, down from the previously expected +2.9%.

Global trade is experiencing a historic slowdown.
tweet

⁠The All-In Podcast
celebrity jeopardy finals tonight! 🚨

9 et/8 ct

watch our guy @friedberg try and win $1M for @humaneworldorg
tweet

⁠Quiver Quantitative
Pete Buttigieg: I think congressional stock trading is a real problem, and I think they should get rid of it https://t.co/i8DTU0gpOm
tweet

⁠Finding Compounders
Taxonomy of Moats

Source : Jerry Neumann https://t.co/XKRnftJ09v
tweet

⁠Investing visuals
The AI data center market is expected to reach $1 trillion by 2030.

Here’s a great overview of key players like $NVDA, $AMD, $TSM and $AVGO.

H/T @IvanaSpear https://t.co/XrvREWqRT3
tweet