As markets dump AI stocks, they are buying HALO stocks – Heavy Assets Low Obsolescence, because as both JPM and Goldman notes, we are seeing see a rotation from the Digital world back into the Physical one.

What could go wrong?

...and prohibits the sale of bitcoins seized by Brazilian judicial authorities, ensuring that these assets remain within public control. 

Welcome to the new bull market... in uncertainty...

"I'm going to make a visit to Venezuela... We haven't decided..." 

Scumbags persist in erasing tributes to Iryna Zarutska..

The shift in prospective relative returns has resulted in a de-rating of capital-light versus capital-heavy businesses...

Minnesota’s nonprofit scandal isn’t an outlier but a warning: unaccountable institutions drift from those they claim to serve while taxpayers and members pay the price...

"Authorities say they used artificial intelligence to forge records and falsely bill for services..."

Financial nihilism is a myth. What’s real is volatility, income pressure, and distrust. The response shouldn’t be disengagement, but rather financial discipline...

More big bluster from Kaja Kallas...

The ruling pauses a clawback of funds allocated to California, Colorado, Illinois, and Minnesota. The states filed a lawsuit alleging political retaliation...

Why would Russia be so eager to return to dollar settlements, after the US has demonstrated willingness to cut them off?

Marine declared dead after falling overboard from USS Iwo Jima in Caribbean...

Stubborn skew refuses to fade.

...resolving "the unresolvable existential threat" from AI disruption.

Software was the most expensive sector in the market at 51x. Now at 27x, media, autos, semis and capital goods trade richer.

“A tragedy was going to happen and YOU ENCOURAGED IT! You ought to feel DAMN GUILTY about it!”