FactSet says that S&P 500 profit margins in Q3 were the widest since at least 2009. Doesn't really look like companies are eating the tariffs...
advantage.factset.com/hubfs/Websit...
That's not market concentration. THAT's market concentration... [pulls out chart of 19th-century railroads and finance houses]
My love letter to metal, "the thinking person's music." (In the Quartzy newsletter, 2019.)
RIP Ozzy.
drive.google.com/file/d/1zt99...
The euro is ON A ROLL www.nytimes.com/2025/07/22/b...
"I think you used the word dynamic or fluid to describe tariffs and we see it very much the same way." — Rick Gomez, chief commercial officer of Target
"We are watching like all things like tariffs and what that's going to do, the impact that will have. Obviously, that situation is fluid, so it's uncertain how that ends up." — John Stern, CFO of U.S. Bancorp
"The tariffs are very fluid right now. So it's hard to really give any predictions on what we can do, but we are prepared." — Ron Vachris, CEO of Costco
The ebb and flow of Trump's tariffs, a thread...
Sign of the times, Skechers-CFO-on-an-investor-call edition:
"Yeah, I joked with Rick before between when I left my hotel room and I came down, I had to check and make sure there were no new tariffs before I answered any questions."
Achtung BuBa! (Sorry) www.nytimes.com/2025/02/25/w...
Bonfire of the market cap www.nytimes.com/2025/01/27/b...
Trump family memecoins update
It didn't quite hit $1 trillion, but China's trade surplus easily set a fresh annual record www.nytimes.com/2025/01/12/b...
Truly intuitive playing from three masters: Von Schlippenbach / Parker / Lytton at @cafeotodalston.bsky.social
Catching up...
www.nytimes.com/2025/01/02/b...
Together again...
“Most people know little about the Moog synthesizer except that it’s electronic, it makes weird sounds and actor James Coburn owns one.”
Teis Semey Quintet: “This one is called, ‘Hippity Hoppity, Abolish Private Property.’” (Other tunes were dedicated to mean Facebook comments and sushi.)
Rates down, stocks up
Coruscating riffs w/ Bill Orcutt + co.
Once upon a time, crypto accounted for more than half of Robinhood's trading volume. It was less than 5% last quarter.
$16 billion+ in losses later, WeWork files for bankruptcy www.nytimes.com/2023/11/06/b...
What a pumpkin patch in western Pennsylvania reveals about the U.S. economy www.nytimes.com/2023/10/29/b...
Oil shock www.nytimes.com/2023/10/22/b...
