Special Situations 🌐 Research Newsletter (Jay)
1/ SWISS NATIONAL BANK REPORTED A FIRST-HALF LOSS OF $100 BILLION (97.4BN CHF). COMPARES TO +44.5BN IN 2021
BIGGEST HALF YEAR AND QUARTERLY LOSS SINCE 1907
Central banks will see more losses, especially the SNB, as it sells assets and takes losses on foreign currency positions.
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1/ SWISS NATIONAL BANK REPORTED A FIRST-HALF LOSS OF $100 BILLION (97.4BN CHF). COMPARES TO +44.5BN IN 2021
BIGGEST HALF YEAR AND QUARTERLY LOSS SINCE 1907
Central banks will see more losses, especially the SNB, as it sells assets and takes losses on foreign currency positions.
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Jerry Neumann
RT @fchollet: I've been asked about this a lot, so let me provide a quick FAQ.
Q: What's the nature of the issue?
A: Anyone who has bought my book from Amazon in the past few month hasn't bought a genuine copy, but a lower-quality counterfeit copy printed by various fraudulent sellers. https://t.co/VQ06AF0igs
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RT @fchollet: I've been asked about this a lot, so let me provide a quick FAQ.
Q: What's the nature of the issue?
A: Anyone who has bought my book from Amazon in the past few month hasn't bought a genuine copy, but a lower-quality counterfeit copy printed by various fraudulent sellers. https://t.co/VQ06AF0igs
For instance, if you go to the page of DLwP2 on Amazon, you see that it's being sold by a 3rd party seller named "Sacred Gamez".
If you click "buy", you won't get the actual book from Manning. You get a low-quality counterfeit printed by the fraudulent seller (from the book PDF) https://t.co/qAD2rg5a00 - François Chollettweet
Twitter
For instance, if you go to the page of DLwP2 on Amazon, you see that it's being sold by a 3rd party seller named "Sacred Gamez".
If you click "buy", you won't get the actual book from Manning. You get a low-quality counterfeit printed by the fraudulent seller…
If you click "buy", you won't get the actual book from Manning. You get a low-quality counterfeit printed by the fraudulent seller…
Offshore
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Paul Graham
I was surprised to learn that the Pope didn't move to the Vatican till 1377. I would have thought it happened earlier. From 313 to 1377 the Pope's Roman residence was the Lateran Palace.
https://t.co/JAM5y84lLf
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I was surprised to learn that the Pope didn't move to the Vatican till 1377. I would have thought it happened earlier. From 313 to 1377 the Pope's Roman residence was the Lateran Palace.
https://t.co/JAM5y84lLf
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Alex Brogan
RT @SystemSunday: Highest ROI Transferrable Skills
• Critical Thinking: mental models
• Analytics: statistics, probability
• Strategy: game theory, systems
• Social Intelligence: psychology
• Comms: copywriting, storytelling, improv
• Sales: persuasion, negotiation
What else?
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RT @SystemSunday: Highest ROI Transferrable Skills
• Critical Thinking: mental models
• Analytics: statistics, probability
• Strategy: game theory, systems
• Social Intelligence: psychology
• Comms: copywriting, storytelling, improv
• Sales: persuasion, negotiation
What else?
tweet
Offshore
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Jitendra Chawla, CFA
Amazing answers and clarity of thought. No wonder he is one of the best (probably the best) business leaders in India today!
'Tension nahi lene ka, gyan nahi dene ka': Tata boss Chandra's life lesson to Ranveer Singh https://t.co/3kbfP0suET
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Amazing answers and clarity of thought. No wonder he is one of the best (probably the best) business leaders in India today!
'Tension nahi lene ka, gyan nahi dene ka': Tata boss Chandra's life lesson to Ranveer Singh https://t.co/3kbfP0suET
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Offshore
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Special Situations 🌐 Research Newsletter (Jay)
Top 28 US independent oil producers generated $25.5 billion in free cash flow in the last quarter. Many have made back losses incurred over the past decade. The 28 companies lost $115B in 10 years leading up to the Covid-19 pandemic! $APA $SPE $XEC $DVN $FANG $EOG $OXY $PE $PXD https://t.co/7Fyducryep
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Top 28 US independent oil producers generated $25.5 billion in free cash flow in the last quarter. Many have made back losses incurred over the past decade. The 28 companies lost $115B in 10 years leading up to the Covid-19 pandemic! $APA $SPE $XEC $DVN $FANG $EOG $OXY $PE $PXD https://t.co/7Fyducryep
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Jim OShaughnessy
Early markets are often the least efficient, and those that engage our imaginations can be wildly speculative, as everything is judged by the "Price-to-Magic" ratio.
A promoter in '99 told me the WORST thing that could happen to Yahoo was to have REAL earnings, because... https://t.co/H4QMYuHm5m
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Early markets are often the least efficient, and those that engage our imaginations can be wildly speculative, as everything is judged by the "Price-to-Magic" ratio.
A promoter in '99 told me the WORST thing that could happen to Yahoo was to have REAL earnings, because... https://t.co/H4QMYuHm5m
What kind of assets are more susceptible to market frenzies?
@JohnathanBi posits that the more an asset lacks a fundamental underlying, the more likely it is to be a subject of mimesis. https://t.co/71FJHyA2mn - Infinite Loops 🎙tweet
Twitter
What kind of assets are more susceptible to market frenzies?
@JohnathanBi posits that the more an asset lacks a fundamental underlying, the more likely it is to be a subject of mimesis.
@JohnathanBi posits that the more an asset lacks a fundamental underlying, the more likely it is to be a subject of mimesis.
Offshore
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Johnathan Bi
RT @InfiniteL88ps: What kind of assets are more susceptible to market frenzies?
@JohnathanBi posits that the more an asset lacks a fundamental underlying, the more likely it is to be a subject of mimesis. https://t.co/71FJHyA2mn
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RT @InfiniteL88ps: What kind of assets are more susceptible to market frenzies?
@JohnathanBi posits that the more an asset lacks a fundamental underlying, the more likely it is to be a subject of mimesis. https://t.co/71FJHyA2mn
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Sidecar Partners
“Berkshire lengthens the reinvestment runway of its entire business by shifting capital from subsidiaries with short runways and/or low returns on capital to subsidiaries with long runways and healthy returns on capital”
@bill_esbenshade nails it re: Berkshire’s endurance. $BRK
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“Berkshire lengthens the reinvestment runway of its entire business by shifting capital from subsidiaries with short runways and/or low returns on capital to subsidiaries with long runways and healthy returns on capital”
@bill_esbenshade nails it re: Berkshire’s endurance. $BRK
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Offshore
Video
Ethan Mollick
This card trick has been analyzed in a peer-reviewed paper, and it tells us something interesting about how human attention can be manipulated.
To not ruin it, first watch the video to try the trick yourself… 1/2 https://t.co/DHsdYg8sRS
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This card trick has been analyzed in a peer-reviewed paper, and it tells us something interesting about how human attention can be manipulated.
To not ruin it, first watch the video to try the trick yourself… 1/2 https://t.co/DHsdYg8sRS
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Paras Chopra
RT @paraschopra: The reason startups with two co-founders have a higher success rate than a single founder is because two brains conversing keep each other's cognitive biases in check.
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RT @paraschopra: The reason startups with two co-founders have a higher success rate than a single founder is because two brains conversing keep each other's cognitive biases in check.
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