markets https://xitter.cf/t.co/6UaH3wYQsQ
Joined August 2020
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C retweeted
Everyone who keeps sharing these short interest charts is missing the flows behind them. Most shops are not taking outright short bets. This is another effort to ease margin requirements across the street: banks providing balance sheet for more speculative bets are asking clients to post more short exposure.
The sequence on the street looks like this:
HF manager: “I want more margin.”
Bank: “Things look risky in public AI bets, and we’re already lending a lot against private AI bets. For some clients, we’ll extend more financing, but only if they add more short exposure to improve their collateral scores.”
HF manager: “Okay, I’ll short more stock against my main bet.”
That is how you end up with short exposures that look astronomically high while many end users remain heavily long tech. The additional shorts are supporting the financing of their main bets.
Which also tells the bigger story on why raw equity financing rates haven’t blown out the way they did ahead of the big SpaceX IPO in June, despite the fact that lending is slowing.
C retweeted
A lot of similarities to early/mid 2021 these last couple of months. Back in 2021 all the shitcos got smoked LONG before the big indices ever rolled over.
Setups which would normally produce a major low were providing a small relief pop only. That happened early and then it was just a bloodbath. While indices marched higher, many accounts were blown as their favorite growth names got slaughtered. The frustration was extreme. Many people quit trading.
I’ve heard a ton of similar stories the last few months. Swing accounts and long term portfolios decimated. For many it is too late. There are times to aggressively put your capital to work and times when it makes sense to protect it.
Even my top setups on individual names have only been yielding a quick relief pop the last month or so. It isn’t a healthy environment.
If you still have capital left then I would consider yourself lucky as many cannot say the same. Wait for a meaningful liquidation break in the market and then evaluate putting capital to work
C retweeted
Sometimes I wish things were like…20% less weird
NEW: According to a bombshell report in the New York Times, Anthropic co-founder Chris Olah threatened to walk out of Pope Leo XIV’s AI encyclical launch in May because the pope rejected the idea that machines can be conscious.
Olah’s team then privately lobbied the pope’s advisers “to take the possibility of model consciousness seriously.” Pope Leo XIV held firm.
For months, Anthropic has wined and dined theologians and religious scholars under nondisclosure agreements, hoping they would bless the idea that Claude has moral standing. thelettersfromleo.com/p/nyt-…
C retweeted
NEW: The CEO of an AI giant said again and again: "There is no China supply chain for us."
Trade records, satellites, Chinese filings and even its own suppliers in China say otherwise.
The truth raises an existential threat to Bloom Energy’s story.
Our $BE investigation:
C retweeted
We’re sharing the next major milestone in our non-invasive brain-to-text decoder research: Brain2Qwerty v2.
Building on v1, which was published today in @Nature, Brain2Qwerty v2 is the highest-performing end-to-end pipeline capable of real-time sentence decoding from raw brain signals. It advances beyond character-level performance to decoding words and semantics, enabling accuracy for overall communication.
We believe this research has the potential to make a real difference for the millions of people who suffer from brain lesions or disorders that prevent them from communicating.
🧵👇
C retweeted
10 day realized vol on spus dropped to 4.25%, the lowest in roughly 5 years. If wednesday closes roughly flat this will realize even lower at ~3.5%. The drop down to sub-5 is eye catching
While these never mark secular tops, they're periods where traders get a little squirrely.
C retweeted
Here’s the honest read. Here’s the real consideration. This is the genuine tradeoff. Here’s the honest answer. Here’s the key insight. This is the crux of the question. It’s worth flagging this. It’s not one or the other. Here’s what’s actually happening.
Shut the fuck up.
C retweeted
New Anthropic research: Natural Language Autoencoders.
Models like Claude talk in words but think in numbers. The numbers—called activations—encode Claude’s thoughts, but not in a language we can read.
Here, we train Claude to translate its activations into human-readable text.
C retweeted
REPORTER: You mentioned that, staying on as Fed governor, you intend to keep a low profile. Could you give us a little more detail on what that looks like?
JEROME POWELL: *ducks down*
C retweeted
JUST IN: Apple names John Ternus as its new CEO, effective September 1st, adding that Tim Cook would take on the role of executive chairman. nbcnews.com/business/busines…
