Hoth

Day 2 after second Moderna shot: a little site soreness, but that's about it so far.

They don't have any freezers for inventory in the back. Just put stuff out as it gets delivered. Helps keep costs down. That and focusing on a narrower range of things and buying in ridiculous volume.

Yeah I'm with you there. Significant rise in my average grocery bill in the last year.

Nah, the chip is how he located eligible singles in his area.

Getting my second in a few hours. Hopefully I won't spend my weekend sprawled on the couch.

Cathy W continued to sell her higher quality liquid companies to double down on the highly illiquid crap she's been accumulating. Could get interesting if real selling pressure comes in in the coming weeks.

Gonna end with a bang at some point.

Who knew we had so many numismatists on the board?

For those who are interested, Jeff Gundlach was spitting fire in this address. Really lays out all the distortions of our economy today and the impending challenges.

Where's my EML?

A sad day for Yale. RIP David Swensen, one of the legends of investment management and a thoroughly decent human being. He literally wrote the book on institutional portfolio management. Vicious squash and tennis opponent, avid soft baller as well in his healthier days.

ARK taking on water. My puts are starting to perk up.

Saw one yesterday! Oriole too.

That approach worked like a charm in Charlestown, MA. A lot of multi-millionaire townies cashing out over there in the last decade.

So lush and green out there. We really do droughts differently here in SNE.

Can anyone explain to me why Bill Hwang is still a free man? You would think defrauding a half dozen banks to the tune of billions would be enough to warrant a warrant, but apparently not.

Tornado ravaged Hamden, CT is still relatively cheap, mainly because our town finances and property taxes are a disaster.

I did work for a PE shop that involved delisted companies a long time ago. I had lunch with our counsel one day in my first week and I still remember something he said about the Pink Sheets we targeted, but which could just as easily be ascribed to Wall Street generally. He said, "We operate in a pretty dark corner of the market. You need to think about these target companies the way Obi Wan thought about Mos Eisley: You will never find a more wretched hive of scum and villainy."

Interest rates pegged close to zero for over a decade breaks a lot of things.

Every house in my neighborhood that goes on the market gets snapped up quickly, renovated and flipped. It's like we're back in the 2005-6 days when this is considered a sure fire way to get rich.

Lots of people may sadly end up leveraged and underwater at some point in the coming years. ...Or maybe we go full Wiemar and their two bedroom makes them paper trillionaires...

Fixed it for you.

It is crazy. And the Fed/Treasury know this, but have clearly backed themselves into a corner. Note how quickly Yellen reversed her comments about raising rates to combat inflation when the market dropped a measly 2% yesterday. The stock/credit/real estate markets have become so bubbly, and so much individual savings/wealth has been thrown into them and other nonsense like shitcoins, that they are now a significant risk to the economy if they falter. The Fed has no choice but to promise zero rates and more emergency QE even though the economy is growing at an almost unheard of rate and showing signs of overheating.

Pretty much. I wonder how many little guys get overexcited and dump their savings into one of these coins, only to get wrecked. I'd bet it's a surprising number.

He's just pumping like Gene Simmons and Marc Cuban so someone else can hold their bags.