Latest: The Iran Deal
The surveillance state is advancing alongside digital identity, increasingly traceable financial systems, and governments’ growing ability to monitor, restrict, or control the movement of money...
"absolutely concocted & false"...
America’s claim to singularity rested on plentiful resources, cheap labour, govt largesse and military edge. With all of the factors fraying, it needs a hard look at the mirror...
The challengers - the California-led coalition of 23 states and DC - must respond by 4 pm Monday, August 3...
Here’s the irony. The ongoing college collapse is driven by knowledge, not ignorance...
Fearmongering headline wherein the same article admitted "US officials don't believe Cuba is an imminent threat"...
...aaaaand, it's gone!
It begins.
Central banks were the only major buyer to increase bullion holdings in the second quarter from the prior period...
Premium
"When he has been pardoned, he may not stand upon his privilege..."
This is the second biggest cocaine seizure this year in the Southern District of California.
NS
Reeeee!
U.S. District Judge David Hittner cited a 2023 Supreme Court affirmative action precedent in his municipal program ruling.
Apple was priced to perfection. Earnings were anything but.
And yet...
The Democratic campaign committee added five more seats to its program, with midterm elections less than 100 days away.
Having collapsed to its weakest relative to the dollar in 40 years...
The market is focusing on the positives for now.
NS
Markets don't care how right you are. They only care how long you stay in the game. Leopold Aschenbrenner's blow-up is a timely reminder that great investing isn't just about finding an edge—it's about managing risk well enough to survive until you're proven right.
Pretty sure Leopold's mother wishes her 24-year-old son had spent a little more time looks-maxxing ahead of this weekend's wedding instead of leverage-maxxing a $20bn AI hedge fund. Unfortunately for Leopold, the latter ended with a 67% drawdown, a margin call, King Ken buying most of the portfolio—and what may go down in market history as "The Leopold Low."
The market is finally questioning the cost of AI. But while credit investors are growing increasingly concerned about hyperscaler balance sheets, semiconductor positioning has already undergone a brutal reset, raising the question of whether the pendulum has begun to swing too far.
After weeks of relentless selling, the first green shoots are beginning to emerge. Semiconductors, Korean equities and memory stocks are attempting to stabilise at deeply oversold levels, while positioning and dealer flows suggest any upside surprise could be amplified.
South Korea didn't just participate in the AI boom—it led it. Now the KOSPI, SK Hynix and Samsung are all breaking key technical levels, raising the question of whether Korea is becoming the canary in the coal mine for the global AI trade.
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