Opinion: SpaceX IPO makes Elon Musk the first trillionaire. Here’s how to properly hate him theglobeandmail.com/business…

“And beyond”. If your bull case is about Mars, you don’t get it. This is all about beyond Mars.

You might be having a bad day but at least you’re not the banking analyst that uploaded the unblinded IOI value ranges to the buyside VDR.

BESSENT: "Sen. Wyden has slandered the Treasury building to cover up his son having an investment with Jeffrey Epstein." WYDEN: "Nobody is interested in the rambling of a capo in the most corrupt regime in American history." BESSENT: "Your son's largest investment position was Rick's Cabaret. Did your son and Epstein talk about poll dancing?

Our seniors should not pay property taxes.

@BillAckman if a company employed these financial shenanigans we’d short it. No reputable accounting firm would ever sign off. An SEC investigation would likely ensue. Let’s hope that NYC Comptroller @MarkLevineNYC a very good person, does his job and explains that unless you are a 3 star chef (at cooking the books) these financials don’t fly and the budget has to be fixed so that future NYC residents don’t pay for @NYCMayor ‘s financial illiteracy.

David Tepper's Appaloosa just filed its latest 13F. Here are the updated holdings.

my position is 1. most billionaires earn their money legally 2. even if billionaires mostly "earn" their billions, i think that the concentration of wealth is a political, societal, and even economic problem. (for example: billionaire contributions to national elections could easily get to 25-50% of total political spend, and the power that implies over political and agenda capture makes me nervous; plus, at some point, concentration could move money from spenders to savers in a way that could be troublesome for growth) 3. recent tax cuts for s corps and c corps really don't help with (2) 4. to begin to address (2) i think we should undo the trump tax cuts, increase avg effective estate taxes, and probably raise the national minimum effective tax rate for the wealthiest ppl. it's too easy for billionaires to pay lower effective tax rates than the middle class with the c/s corp rules we have now

Something that I have been thinking about a lot lately is how large cap private equity has slowly become a game of fundraising more than it is about generating good returns The playbook has become too well known. Every firm is running the same analysis and know all of the same low hanging fruit around operational efficiencies There is very little alpha left in buying things for cheap through proprietary channels. Companies at that large scale all hire the same bankers who are running competitive processes to drive prices up As a result, most firms have shifted towards fundraising as their way to grow the firm and AUM This includes scaling larger funds for the same strategies and also diving into new strategies, whether that’s private credit, infrastructure or real estate In the not too distant future, my prediction is that investor relations and sourcing will become the most valuable seat at many of these firms, even more than being on the investment team itself These firms will become capital raising and deployment machines, rather than return generation machines. Very different than how the industry originally started off

Because then you have to add card fees. Why drag Visa along with us into the future like a software virus?

Mayor Mamdani's plan to open a city-run grocery store is facing pushback from East Harlem grocers, who say the area is already saturated. About 45 grocery stores are within a 35-minute walk of the proposed site.

Jamie Dimon says he used Claude this weekend, saying “I’m the ceo of a bank” then asking about asset swaps and treasury bid/ask spreads, adding that AI use cases in finance are “just starting”