An equal-weight basket of the six big publicly traded PE firms is now down 45% from highs. That's worse than its 2022 bear market drop and similar to its COVID crash.
$APO $ARES $BX $CG $KKR $OWL Source: Bespoke
China’s exports grew by 36.3% in September from a year ago, their fastest pace since February, according to official data released Wednesday.
Imports climbed by 31%, the fastest increase since June, the data showed, picking up from 28.2% in August. Both exports and imports exceeded estimates from a Reuters poll, of 25.5% and 24.5%, respectively. Earlier this year, China’s exports and imports each grew at their fastest pace in five years. A surge in demand for China-made parts for data centers to power artificial intelligence has helped fuel exports, along with stabilization in tensions with the U.S., China’s largest trading partner on a single-country basis. Source: CNBC
Anthropic is offering a 145k salary for a personal assistant in London.
Responsibilities include: "Scheduling and managing calendars for leader(s) and their organization" "Building and maintaining organizational systems for tracking and managing inbound requests" "Managing the leader's inbox and communications with precise attention to detail" "Handling travel logistics" Somebody should have build some sort of tech tool that can handle this stuff autonomously... Source: Seb Johnson
Stocks historically do much better when Congress is split versus unified.
Source: Ryan Detrick, CMT
The world's richest man, who spent almost $300mn helping Donald Trump get re-elected in 2024, made these donations during the past few months
Source. FT
SpaceX wants to become your mobile carrier.
The company has agreed to buy nationwide 800 MHz spectrum from Grain Management—a move that could bring Starlink closer to competing directly with America’s telecom giants. The market reaction? AT&T, Verizon and T-Mobile fell in extended trading. SpaceX rose around 2.5%. The strategic shift is clear: Starlink wants to serve customers directly, with less reliance on traditional operators. And it has a powerful engine behind it: its connectivity business generated $4.29 billion in revenue and $1.66 billion in operating income in Q2. But spectrum alone won’t solve everything. FCC approval is still required. Reliable indoor coverage in cities would likely require ground-based towers. No launch date has been announced. The next telecom battle could combine satellites above us with towers around us. How much of your next phone bill could eventually go to SpaceX? Source. Gurgavin, CNBC
This is what crowd out looks like
Source: Jason Furman
Michael Burry has spent nearly 18 years trying to make The Big Short 2 happen.
Source: Shay Boloor
