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Alan Dershowitz just filed a whale of a lawsuit against CNN, though it could end up beached in short order under controlling case law...

"The FOMC directed the Open Market Trading Desk at the Federal Reserve Bank of New York to continue to increase the System Open Market Account holdings of Treasury securities and agency mortgage-backed securities (MBS) at the current pace."

Today is the last FOMC meeting until after the election... begging the question of just how 'dovish' will Fed Chair Powell be - to keep the stock market dream alive (and potentially President Trump's re-election hopes).

The dollar is practically unchanged. Bond yields are practically unchanged. Gold is very modestly higher. But stocks are panic bid...

13 of 17 Officials forecast rates on hold through 2023...Fed is very, very inline.  Fed was v dovish, and stays v dovish. 

"Some subset of the market will be dissatisfied with any Fed action and implicitly caught offsides."

Goldman focuses on potential "future five" stocks that it believes will could become the next FAAMGs: ISRG, ADSK, NOW, PYPL, VRTX

“I have her phone and laptop...”

...does anyone else see the irony of the biggest IPO in a year of utter chaos being called 'Snowflake'?

"In fact, it's been so lit, some of our restaurants have temporarily sold out of some of the ingredients in the meal,"

And what changes has Dalio made to adjust? Apparently none. “We are operating in the same way we have always operated,” he told Bloomberg TV.

Just don’t call it free market capitalism...

"It is difficult to get a man to understand something when his salary depends upon his not understanding it..."

"This is the most negative rebalancing flow since the virus crisis.... this negative rebalancing flow becomes even more problematic  given this month’s sharp decline in equity market depth"

“It’s going to take years to get over the last months of emotional mistakes.”

Fox Business senior correspondent Charles Gasparino just reported that CFIUS "has approved or will approve" the revamped TikTok-Oracle deal.

The news also comes days after General Motors' partnership with Nikola Motors was called into question by short seller Hindenburg Research.

...we seek value when we spend our wealth, but few seek value in protecting and growing their wealth...

Acts one and three are pretty straightforward in terms of the Fed’s current narrative: March – May’s COVID Crisis was Act One and Act Three will be the eventual normalization of monetary policy. But Act Two is much harder to write.