POT LOTS:
Everyone knows there's marijuana being sold everywhere across NYC, despite there being very few actual licensed dispensaries
So went out and talked to sellers, regulators, lawyers, entrepreneurs, VCs etc. to understand how this market is evolving 1/
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Sid Verma
@_SidVerma
Global markets editor . Formerly . Opinions are my own. I'm not David Baddiel. sverma100@bloomberg.net
Sid Verma’s Tweets
if you like the Mexican dish "mole": a rather incredible history.
(from a short essay by Eliot Weinberger)
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#ChinaPoblana Do you know that the Mughal emperor Akbar’s niece, named Mirra, is a revered Mexican saint? Catarina de San Juan: The Mughal Princess Venerated As A Mexican Saint | Madras Courier madrascourier.com/biography/cata
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a man whose distinctive beliefs, unique twitter style, and fondness for fitness and diets fads derived from ancient wisdom makes him one of the most distinctive voices in finance...with tracy alloway and nassim nicholas taleb!
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NEW ODD LOTS:
It's the legend @nntaleb.
@tracyalloway and I talked to the famed author, trader, and self-described flaneur about what Bitcoiners, VCs, anti-va**ers, deadlift maximalists and others all get wrong about what it means to be antifragile bloomberg.com/news/articles/
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If you want a new anxiety, how's this: We are running out of internet?
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More evidence Google is out of disk space #320957: There is now a limit on the *number* of files you can have in Google Drive, regardless of whether you are under the storage quota you bought.
Are they having trouble storing all that metadata??
arstechnica.com/gadgets/2023/0
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I thought all American couples do this?
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thinking about the couple from my high school who did couples therapy after 4 months of dating when they were 16
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Does it make sense to talk about buying bonds as a “crowded trade” - in the same jarring way as talking about Treasuries as a “bubble” like other markets
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In March 2020, the tail-risk hedge fund Universa famously said it returned 3,612% and early this year, it said an allocation to it equals an annuity paying 114% a year
I dig into what these numbers really mean. TL;DR: they're not fund returns
bloomberg.com/news/articles/
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Many thanks to not- and un- for having me on Oddest Lots!
Great discussion around my bold, life-or-death bet that humanity will achieve immortality in 90 days.
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This is incredible
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We investigate how banks have hit upon an ingenious way of shifting vast quantities of derivatives off balance sheet hubs.li/Q01JTBJD0
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With AI booming, what terms will the Very Interesting People use about the negative externalities? Copyrighting here: 'The Human Recession'
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Well it’s really happening guys. Bloomberg has launched its own generative AI called BloombergGPT that’s trained on Bloomberg’s financial text data and specifically tailored to finance.
Exciting times!
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Pakistani man heading Scotland. Indian man leading England. You know what that means?
Daily dance program by soldiers in Berwick Upon Tweed with flags and gate opening closing.
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Tweets that make sense in 2023
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SCOOP: I spoke to the guy behind Balenciaga Pope for @BuzzFeedNews, who was (a) tripping on shrooms when he made the image and (b) thinks it means we should regulate AI buzzfeednews.com/article/chriss
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The delicious story arc, as a friend puts it, of having in sight an FM of Pakistani origin negotiate Partition (of the UK) with a PM of Indian origin.
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Pakistan origin Humza Yousaf becomes Scotland's first minister (head of the Scottish govt). UK already has an Indian origin PM Rishi Sunak.
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people still worry about how developing countries are going to develop a value-added, mass employment-producing manufacturing sector given the automation and robotics in the developed world. Now there’s AI making cheap service sector jobs for humans even harder…
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Severance season 2, except the innies are cataloguing their emotional reactions to European banks' Level 3 assets
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Who actually has the appetite to sell CDS contracts on Deutsche Bank to the buyers these days? Stock shorts wanting to hedge, or something?
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NEW FROM US:
Block—How Inflated User Metrics and "Frictionless" Fraud Facilitation Enabled Insiders To Cash Out Over $1 Billion
hindenburgresearch.com/block $SQ
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This and more on the latest issue of our newsletter The Brink w/
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What's the reason why UBS stock isn't up that much despite buying the biggest competitor for an aggressively cheap price? All the liabilities, contingent or otherwise, that come with it?
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S&P futures down: Fed needs to cut immediately to avert a full-scale banking crisis, inflation is receding and fresh liquidity injections are needed
S&P futures up: Fed needs to hike by 50 basis points, and prioritise inflation over short-term financial contagion
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Old enough to remember when tier 1 banks were considered to be at a disadvantage with their cost of funding
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Crypto bros demanding that the centralized, government-backed lender of last resort has full control over domestic credit conditions is just too good
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Man, Creed from the US version of The Office has changed
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Hugh Grant doesn’t mean to be rude here, but this is how it feels like to be British and confronted by absurdly enthusiastic American extroverts
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Seems like deposits can be risky. Perhaps banks should rely on * checks notes* interbank funding instead?
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Succinct explanation for this morning's epic Treasury rally
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