I know nothing about Lula, but Ursula is absolutely awful
Congratulations to my friend @LulaOficial on his electoral victory.
Democracy and multilateralism have won in Brazil.
Europe’s partnership with Brazil is thriving.
We will remain by your side for the years to come.
Together we will keep working closely for free and open trade.
A rules-based global order.
And strong ambitions for our climate.
david retweeted
My daughter introduced me to her new boyfriend Karim yesterday
He recently immigrated to Germany from Algeria and is an engineer
His specialty? Rapid disassembly of electric scooters, e-bikes and small electric vehicles
He can remove the battery, motor, wheels and electronics in minutes, quietly and without leaving much trace
I asked where he studied engineering
“Mostly on the street” he said
Exactly the kind of practical experience universities can’t teach
Europe needs more skilled immigrants like him
actually been saying passive is no issue, it does work precisely because there are good managers analyzing businesses out there. just need to get smarter Mike! Yes the number of “active managers” has been in free fall but those had probably no reason to exist in the first place!
david retweeted
Everyone who keeps sharing these short interest charts is missing the flows behind them. Most shops are not taking outright short bets. This is another effort to ease margin requirements across the street: banks providing balance sheet for more speculative bets are asking clients to post more short exposure.
The sequence on the street looks like this:
HF manager: “I want more margin.”
Bank: “Things look risky in public AI bets, and we’re already lending a lot against private AI bets. For some clients, we’ll extend more financing, but only if they add more short exposure to improve their collateral scores.”
HF manager: “Okay, I’ll short more stock against my main bet.”
That is how you end up with short exposures that look astronomically high while many end users remain heavily long tech. The additional shorts are supporting the financing of their main bets.
Which also tells the bigger story on why raw equity financing rates haven’t blown out the way they did ahead of the big SpaceX IPO in June, despite the fact that lending is slowing.
