bros and cons

market vibes

January 23…

Musk yesterday: “They don’t actually have the money.” True dat, bro.

Well Elon, I’ve heard the same about you, sir. In fact, nobody has the money. If we have a good old-fashioned stock crapper, the only people with “the money” are going to be Mom and Dad and Buffett.

The crossfire in markets and politics is getting to be like four boys pissing in the same urinal; Peter Venkman’s dry admonition, “Don’t cross the streams,” but the boys are doing it… If anything is going to make Mom and Dad think twice about those lumpy capital gains in the Mags, it’s a public gunfight between Musk and Ellison over AI.

Could it be Trump saw trouble, pulled the pin on a couple of “flash-bangs,” and took a seat with some popcorn? One would think, considering Musk’s looming portfolio and an office in the West Wing, things can’t be that random. Or can they? You decide.

At any rate, a lot of people know a lot of things they didn’t know before Trump’s presser. Elison’s "big-bro is watching” ideas went under a bare bulb on X with rubber hoses in milliseconds.

Moving along, XRP had a big move recently. Gensler’s exit was a game changer. The blockchain peleton is accelerating. $TRUMP went for Solana.

JPM is moving its NY ops to an old building on Madison. I don’t know what that portends for Dimon’s Khufu Cheops on Park Avenue. It was intended to house 15,000 employees when it’s finally finished this year. Apparently, layoffs, high rates, CRE and stickier WFH are not going away. Maybe they can use it for a cemetery when AI turns humanity into lab animals… oh wait…

Jobs data at 8:30 EST and the ever-popular nail-biter, Kansas City Fed at 11:00.

On tap this morning we have general commentary on Oil, a tutorial on wiggles and Bitcoin, stocks and a brief my vibe. Enjoy!