Per Goldman, 70% of S&P 500 companies are mentioning AI on Q4 earnings calls.

But just 1% are quantifying the technology’s impact on earnings.

That gap underscores why people have gotten a bit jittery about the ROI on the hundreds of billions hyperscalers are spending on data centers.

Somebody should write a novel about a despondent accountant entitled “Useful Life” ...

Report: OpenAI shuttering 4o model due to sycophancy that was hard to control Dedicated users found the 4o model offered affirmation and support, while the company found the model’s sycophancy hard to mitigate....

Out of control sycophancy seems to be a defining feature of our culture. Even for AI.

sherwood.news/tech/report-...

The press has been yapping about risks of CLOs and BDCs, for years. (And I include myself in that, see below.)

But this chart is pretty interesting in light of the software crunch in the market lately.

www.nytimes.com/2018/10/19/b...

a parabolic move for memory (line chart)

In the near future we will hoard SD cards and use them as currency. From @matthewsphillips.bsky.social

sherwood.news/markets/for-...

Thanks man!

Also, World War II was pretty decent for the job market if one remembers correctly. (I know, a stupid point, but still.)

‘ELITE’: The Palantir App ICE Uses to Find Neighborhoods to Raid Internal ICE material and testimony from an official obtained by 404 Media provides the clearest link yet between the technological infrastructure Palantir is building for ICE and the agency’s activit...

New: meet ELITE, the Palantir app ICE is using to find neighborhoods to raid. Map interface; officers search for immigrants; click person to bring up individual dossier. This is clearest link between what Palantir is building and ICE's activities on the ground yet www.404media.co/elite-the-pa...

Do people check and/or respond to work email any more? If you don’t have a cell number to text, how do you reach out to speak to somebody new? Would love to hear reporter suggestions and or tips.

Great Ben Snider chart from Goldman equity note this week.

Stocks are already hitting more extreme levels on concentration, valuation and rally magnitude than during 1929.

Is ‘26 to be a blow-off top year?

Dynamic Competition for Sleepy Deposits Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

Money sometimes sleeps:
www.nber.org/papers/w34267

The deference to public officials is infuriating.

So sad. Loved this guy’s work. Sheeeee-it.

Read @jonkeegan.com on Hyperion:

Tax “breaks afforded to Meta on just the sales tax of GPUs would come out to more than $3.3B”

Equal to:
-33 new high schools
-public teacher salaries for > 1Y
-more than 7 years of the Louisiana State Police budget

sherwood.news/tech/hyperion/

Just wondering if there’s ever been a software analyst on Wall Street that used “Saasquatch” as a titular pun on a note.

lineup for the 2026 jazz fest in new orleans! https://www.nojazzfest.com/music/

Jazz Fest lineup just announced and it looks great!!

www.nojazzfest.com/music/

South Carolina measles outbreak is 'accelerating,' driving hundreds into quarantine Some students who remain unvaccinated are now in a second 21-day quarantine since the beginning of the school year.

Fantastic work, everyone

www.nbcnews.com/health/healt...

A pioneer of share repurchases tho!

After a quarter century, Cisco surpasses dot-com bubble closing high Cisco (CSCO) hit a new closing high on Wednesday, and in doing so finally surpassed the dot-com era peak that briefly made the tech hardware...

Cisco (CSCO) hit a new closing high on Wednesday, and in doing so finally surpassed the dot-com era peak that briefly made the tech hardware company the world’s most valuable corporation a quarter cen
https://sherwood.news/markets/after-a-quarter-century-cisco-surpasses-dot-com-bubble-closing-high/

Proto "The story of how one language left the steppes of Ukraine and became the earth's dominant language family has become clearer and more exciting than ever b…

Check out this book if you’re interested in prehistory...so amazing ... www.bloomsbury.com/us/proto-978...

But you’re not disputing the point of the chart are you @bencarlson007.bsky.social ... which is that phones have had a massive negative impact on reading. Seems inarguable.

Interesting market price I’ve been watching lately, from Morgan Stanley’s big note on tech hardware, which clobbered Dell shares today ...

Palantir’s valuation: Just how insane is it? There are few precedents for a such stratospheric market value — $350 billion — being as precariously balanced on such a narrow base of earnings...

Yeah the valuation is pretty remarkable...here’s a little something I wrote about it from a while back...

sherwood.news/markets/pala...

Great tune. And timely!

Can’t stand this, “People on the right shouldn’t support the Trump administration’s effort to suppress free speech because eventually it’ll be used by leftists against them!”

What about: It’s wrong. This is a free country. Americans have a right to criticize the government and the president.

Buried two scrolls down on the Journal’s website:

Seems like it would warrant a bit more attention. But what do I know.

Are with in the midst of an asset bubble?

Here’s one piece of evidence brought to my attention in a recent chat with David Kelly, chief global strategist for JPMorgan Asset Management.

Amazing pic. Which one is your grandfather?

John H. Luckadoo, Last Pilot from a Storied Bomber Group, Dies at 103

www.nytimes.com/2025/09/17/u...

We’re peacefully protesting for our neighbors. What does ICE do?

Pick us up and throw us on the ground. No arrest, no identification, no process.