Arsonist & Fireman

Market beatings will continue until the war ends. I discuss why I think markets can no longer avoid the war or the inflation it is causing. Pinecone Macro Research aims to provide unique, well researched analysis of the global markets using a macro framework. Find us here: www.pineconemacro.com Follow us and the show on Twitter: @PineconeMacro & @TaylorMadeMacro Subscribe on Substack: https://substack.com/@pineconemacroresearch -- Bulwark Capital Management: https://bulwarkcapitalmgmt.com/ Disclaimer: -- The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor

Catching you up on the war in Iran as it goes kinetic again and what that means for energy prices and macro. Pinecone Macro Research aims to provide unique, well researched analysis of the global markets using a macro framework. Find us here: www.pineconemacro.com Follow us and the show on Twitter: @PineconeMacro & @TaylorMadeMacro Subscribe on Substack: https://substack.com/@pineconemacroresearch -- Bulwark Capital Management: https://bulwarkcapitalmgmt.com/ Disclaimer: -- The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor

Yesterday I said Treasury would need a bigger boat and compared buybacks to the Cheeto as a door lock - today (faster than expected!) that became clear. So I cover the buyback fail and the need for QE, the economic war against Iran, the China/Switzerland trade deal, Walmart earnings, and more supply coming thanks to the giant Anthropic IPO. Pinecone Macro Research aims to provide unique, well researched analysis of the global markets using a macro framework. Find us here: www.pineconemacro.com Follow us and the show on Twitter: @PineconeMacro & @TaylorMadeMacro Subscribe on Substack: https://substack.com/@pineconemacroresearch -- Bulwark Capital Management: https://bulwarkcapitalmgmt.com/ Disclaimer: -- The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor

First Daily Discernment discussing the Treasury's intervention today and everything it may mean moving forward. Pinecone Macro Research aims to provide unique, well researched analysis of the global markets using a macro framework. Find us here: www.pineconemacro.com Follow us and the show on Twitter: @PineconeMacro & @TaylorMadeMacro Subscribe on Substack: https://substack.com/@pineconemacroresearch -- Bulwark Capital Management: https://bulwarkcapitalmgmt.com/ Disclaimer: -- The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor

No one enjoys being wrong. But I do enjoy having been wrong. This means I am now less wrong, now than I was before. This means I have learned something. -- Chase sits down with book in hand to discuss some of the great insights in Soul in the Game: The Art of a Meaningful Life by Vitaliy Katsenelson. Consider this your audio CliffsNotes with anecdotes from the author and from Chase’s experiences with stoicism, challenging your own market theses, and why we should treat everything in our life as if it’s on borrowed time. Timestamps: (00:01) – Intro (01:44) – Put curiosity above conviction and humility above pride (03:47) – No one enjoys being wrong, but…do enjoy having been wrong (05:58) – The rules of an intellectually honest debate (07:56) – Acknowledge our assumptions, acknowledge our own biases. Address the argument, don’t attack the person (10:56) – Pain is a perfect tuner (14:16) – Time discovers truth (15:55) – Accept that our control only lies within (21:45) – Negative visualization helps you realize all the great things in your life are borrowed, not owned (24:00) – Outro Referenced in the Show: Soul in the Game by Vitaliy Katsenelson Think Again by Adam Grant Chase’s favorite Daniel Kahneman book: Thinking, Fast and Slow Brothers Karamazov: by Fyodor Dostoevsky The Intelligent Investor: Ben Graham Stoic Books: The Wisdom of the Stoics Boxed Set & Discipline Is Destiny: The Power of Self-Control