TR would have liked that aerial perspective

Meb - MIT pranksters once put a car on top of that dome. Another time they did this youtube.com/watch?v=iq4rzxw_…. Disclosure: My late father-in-law taught there.

Brilliant, Terence. Deserves a trophy

If Greg Abel, Howie Buffett, and Susan Decker want to make $BRK.A $BRK.B great again (like the kinds of co's Warren and Charlie sought), they should pay @porterstansb @Porter_and_Co some A shares to explain at the next directors' meeting when and how the sprawling Omaha conglomerate diworsified. If you own Berkshire, reading "Warren's Mistakes" is a must. @herbgreenberg @DougKass

The smart money sold their 10-year paper because the semi-annual interest rate (coupon) lags inflation. "Reward-free risk," as Grant's Interest Rate Observe's James Grant has described.

Only a little more than six years ago the fixed income market was willing to pay 200 times earnings (annualized interest) for the 10-year UST. Now, the P/E is 20 times the coupon (1 / 0.05), which works out to a rerating of minus 90 percent. Brutal.

I first learned about Ted when he told the WSJ that Crazy Eddie's inventory was growing more than 3x revenue whitecollarfraud.com/crazy-e… Soon after, the co went BK, the stock plunged to $0 from as high as $75, and a co-founder was sent to prison. youtube.com/watch?v=Rer9W58-…

U.S. Treasury secretary Scott Bessent has a tough job: selling our debt. reuters.com/business/norways…. Adjusted for inflation, our purported risk-free paper since2020 is down 40 percent.

@faderp Terrific column in today's WSJ (8/25, A16). Time for another parade