Jim OShaughnessy
Two thoughts from David McRaney

“The More Pessimistic Your Explanatory Style, The Easier It Is To Slip Into Learned Helplessness.”

"You might be a great judge of character, but you need to be a great judge of evidence to avoid delusion."
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Ramneek
“BuFfeTt UsEd LeVeRaGe.”

Well! I was very happy with an immediate realisation I’m not Buffett. If you find it incredibly hard to beat the S&P, you will find it exponentially harder to manage leverage. Forget drawdowns; you’ll find it hard to manage leverage even during rips.
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Rolf Degen
People were extremely less likely to interfere with a theft in progress than they had hypothetically predicted. https://t.co/rfSif3ibRl https://t.co/mr6MKlDxz9
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Special Situations 🌐 Research Newsletter (Jay)
190mn drained after latest crypto hack... thx @Ryancerfus https://t.co/ejkbDKPNUV
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Special Situations 🌐 Research Newsletter (Jay)
German retail sales fell 9.8% as of June, the largest annual rate since records began in 1994, highlighting the scale of the economic collapse facing the eurozone’s largest economy. https://t.co/8fJX96rSC4
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Cundill Capital
$MANU is cheap. Chelsea just sold for $3.2B after quick sale process, broadcast rights will continue to grind higher, results on pitch can’t get worse than last year, Glazers hist. savvy sellers of stock in $18-$20 range. They might be bad owners but I’m happy to trade with them
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Special Situations 🌐 Research Newsletter (Jay)
Free economic calendar below. Importance Rank, Estimates, Fed Speakers, Macro commentary included with subscription:
https://t.co/r7f3PlxC5V https://t.co/TN7w8j43Tt
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Rolf Degen
"Research indicates that people will behave in ways that are consistent with the genes they believe they possess." https://t.co/k38kZElZ9J https://t.co/R41cgezaXa
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Mostly Borrowed Ideas
The most recent $META 10-Q had this line which never appeared before:

"We continuously evaluate our liquidity and capital resources, including our access to external capital, to ensure we can finance our future capital requirements."

What does this hint at?
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Special Situations 🌐 Research Newsletter (Jay)
$KKR Earnings Slide 9% on Lower Deal Fees in Second Quarter
- Distributable earnings were $839.8 million, or 95 cents a share met estimates
- KKR & Co. 2Q REV. $330.1M, -89% Y/Y
- KKR & Co. 2Q Asset-Mgmt Rev -$308.2M
Mgmt fees continue to grow, but not excited about markdowns https://t.co/Itz1znbltc
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Special Situations 🌐 Research Newsletter (Jay)
Cutting tariffs to China likely off the table, along with the Biden administration's estimated 1.3% CPI decline:
https://t.co/UJC2tgnc8d
Not worried about war/escalation with respect to Pelosi. More worried about decline in US/China relations at a time of peak inflation - Special Situations 🌐 Research Newsletter (Jay)
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