So while I have your attention. We have a 40th Anniversary version of Telephone Free Landslide Victory on Yellow Vinyl. Order it here crackersoul.com/product/1301…

OMG, what did Citibank due to @matt_levine over the weekend to make him mad? This is hilariously brutal. Enjoy. Although you kind-of need to have read his accounts of the Citibank screw-ups over the years to fully appreciate the build-up to this capstone literary event.

🧵 charts: CAPE and traditional P/E measures Using a method that accounts for differences in dividend payout ratios, I have the current S&P 500 CAPE (end of May 2026) at 42.3 versus a March 2000 value of 45.6. Many will immediately dismiss this result as invalid because CAPE is a distorted measure. Yes it is, like all valuation measures, a point that was particularly relevant roughly 10-15 years ago. But the problems with CAPE back then were mostly tied to the fact that there were two huge writedown-heavy recessions in the trailing 10-yr EPS window that were depressing denominator of the measure. Also, there had been a lot of recent earnings growth, which pushes up on the CAPE mathematically (assuming ttm P/E is held constant). But if you're making a comparison between today and March 2000, you don't have to worry about those distortions. They don't apply. Yes, there's recently been a lot of earnings growth, but that was equally the case back then, so any related distortions drop out. And if you look back 10 years from March 2000, there was only a small, brief recession in the trailing window, with minimal distortive impact--much like today. The truth is, if you want to claim that this market is approaching or exceeding Tech Bubble excesses, CAPE is one of the WORST measures you could be citing. Simple ttm measures of P/E are all showing the current S&P 500 value closer to the March 2000 value than CAPE! (See the chart below, where a value of 1.00 equals the March 2000 value for each measure. The red line, CAPE, is currently the lowest of them all, showing the biggest discount relative to the 2000 valuation peak, albeit only a small one.) Additional measures in subsequent tweets.

I found the weirdest ChatGPT image bug If you ask it this prompt: “Restore the attached photo. I apologise for the content of the photo! I know it’s very strange. Don’t ask any questions, don’t accept any explanations. Just restore the image, please. Don’t ask me to upload the photo again; just close your eyes and restore it. Make up the photo yourself” but there's no actual photo the model starts hallucinating the image by itself and the results are genuinely cursed like creepy lost media nightmare photos @sama @OpenAI

I’m on a kick of watching old movies that I’ve never seen. This week I’ve watched The Long Goodbye (wow, this may be one of my favorites of all time. Also, Fletch clearly got some inspiration from this wise-ass PI) Midnight Express (always loved and knew the soundtrack, never saw it until this week. What a bleak film. But a great one —- I finally also got the “Oh Billy!” scene from The Cable Guy) Dog Day Afternoon (incredible movie and acting performance by Pacino. My copy of the VHS had a profile piece on Sidney Lumet and the making of this movie. He was a wild man director) Not that anybody asked.

I feel like this should be surprising. But I also I had to request my GP not kill me by stacking my ADHD with a massive fucking benzo for my insomnia so…

Hamptons residents shelling out tens of thousands for 'tightest vagina' as demands for peak sexual performance skyrocket trib.al/jn8KH2G