The Reformed Millennials Podcast covers a wide ranging topic arc focusing on Sports and Investing. RM Pod is dedicated to identifying the latest trends in technology, sport and investing. We discuss the ways Millennials can leverage these trends to better invest their time, fandom and money. reformedmillennials.substack.com
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Welcome back everyone. Market Update📈📉 Start with one number that has nothing to do with AI. The 30-year Treasury hit 5.31% this week. That’s the most expensive long-term money since 2007. I was in high school the last time capital cost this much. Canada’s long bond is at levels last seen in 2010, and it’s the same story in Germany, France, and Italy. Everywhere you look in the developed world,…
Welcome back everyone. Two weeks ago I wrote that Thursday was a warning, not the flush. The flush coincidentally came with a face and a situationally ironic name. Leopold Aschenbrenner and his Situational Awareness fund. Market Update📈📉 The AI trade compressed for five straight weeks, names down 40, 50, 60 percent from their highs in a straight line. Meta was down 10 percent on the year at the…
Welcome back everyone. Market Update📈📉 For most of the past year the index has carried an almost built-in AI hedge. When hyperscalers raised capex, the companies receiving the money rallied, because the spending became their revenue. When hyperscalers hinted at spending less, their own stocks rallied on better free cash flow and more room for buybacks. One side could get hurt, but the other side…
Alberta is so back. Stampede wrapped, and while the rest of us were nursing a ten-day social hangover, Alberta quietly had the best economic week it’s had in a long time. Four announcements, potentially more than a hundred billion dollars of investment if they all land. For the first time in my adult life, this province is about to build the entire stack: pull energy out of the ground, use it to…
Two weeks ago I sat in this chair and told you to stop arguing about whether AI is a bubble and watch two things instead: the bond market, and the war in the Middle East. We got our answer for both. So let’s grade the tape - starting with the one that should humble every expert who opened their mouth this spring, including me. The humble pie nobody’s eating For four months we had a shooting war…
For three years the only question anyone asked me was whether AI is a bubble. Is it real, who wins, what inning are we in. I’ve been saying inning three or four the whole time, and I’ll say it again. But it’s the wrong question, and last Friday’s tape is the reason why. Here’s the better one. Where is the money actually flowing inside all of this, and what happens to every high-flying name if the…
Welcome Back. Three meetings shaped the last two weeks. Each one looks like a different story. Each one is actually the same story. The first was Donald Trump inside the Zhongnanhai - the inner compound of the Chinese leadership. Only three other sitting U.S. presidents have ever been invited in. The second was Mark Carney and Danielle Smith shaking hands on the West Coast pipeline framework, with…
Every twenty or thirty years a new general-purpose technology shows up and quietly rewrites the entire economic order. Steam. Electricity. The PC. The internet. Mobile. Every single time, the same pattern plays out. One group adopts early and compounds. Another group waits, calls it a fad, tells themselves their experience makes them immune. By the time the second group looks up from their chosen…
By 2027, Bernie Sanders and his cabal of pessimists are going to be in the streets protesting AI. Blaming it for everything… That's the political tape we're walking into. The reason isn't ideology. It's economics. We are watching the most consequential technology transition since the industrial revolution play out in real time, and the early returns look exactly like the early returns of the last…
Machiavelli, often considered the father of modern political philosophy, focused heavily on what he called the “effectual truth”—the reality of what actually works, rather than what we wish would happen in an ideal world. He believed that maintaining prosperity requires a clear-eyed understanding of power and a ruthless grasp of human nature. Right now, global markets, international security, and…
Welcome back to the pod, everyone. Todays episode covers the following 4 topics: * Canadian Jobs, Liberal majority and the Mark Carney performance review. * Market structure and positioning * War in Iran * Open Ai Shifts focus to the enterprise as LLMs prove they aren’t just a commodity. Market Update📈📉 Asset prices don’t make their biggest moves because of fundamentals. They move because of…
