Husband, Dad of 5, Founder @EchoMindAi
Joined August 2020
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Max Harker retweeted
Texas has 2.1M undocumented immigrants and Florida has 1.2M.
Minnesota has 130,000.
Don't let anyone tell you this is about immigration.
It never was.
Max Harker retweeted
"Since year-end, we have welcomed senior talent, invested in attractive new opportunities, monetized several others, retired $115 million of our outstanding bonds and reduced additional indebtedness by approximately $55 million.”
$RILY
Max Harker retweeted
"We are pleased to note our overall business has continued to perform well since year-end."
$RILY
Max Harker retweeted
This guy is younger than both of the men running for president right now.
He left office nearly 24 years ago.
Our political parties don’t even care anymore, do they?
Max Harker retweeted
They say that one person can change the world, but is that really true? If we really want to change the world for the better, we need to make use of a superpower that only humans possess.
Full @MSNBC interview on bit.ly/YNHTheBeat (filmed November 2023).
#humanity
Max Harker retweeted
If democracies can be (sort of) moral in their own land, but ferociously homicidal w/other's (Vietnam, Palestine, Iraq), it is because foreigners don't vote & don't count on the nation-state's balance sheet.
That's the central flaw with the Nation-State.
1/n
Max Harker retweeted
Donald Trump's former AG Bill Barr rips his former boss:
“He's a very petty individual who will always put his interests ahead of the country's… Our country can't be a therapy session for a troubled man like this."
Never Trump.
Max Harker retweeted
Some of the worst crimes in history were committed in the name of fictional stories that people believed. Very few wars are about objective material things: it’s when people can’t agree on the story that conflict arises. How can we create good common stories that benefit people and prevent bad stories that cause huge misery? First, we need to understand that humans like us created the stories – so we can also change them.
See the full interview on @MSNBC here: bit.ly/TheBeatYNH
Filmed in November 2023.
#stories #history #wars #humanity
Max Harker retweeted
It's sad that most people spend all their savings in the last 5% of their lives fighting disease with extreme measures, rather than using the capital earlier to keep them healthier longer.
Max Harker retweeted
Surprising. Astounding. Staggering. Unnerving. Bewildering. Flabbergasting. Disquieting. Gobsmacking. Shocking. Mind boggling.
Max Harker retweeted
🇺🇸 US Senator Elizabeth Warren calls to investigate Elon Musk.
While serving 10 years in Congress with an annual salary of $193,000, she managed to increase her net worth to $73,000,000.
Max Harker retweeted
The science of global warming beautifully and simply explained by Dr. Carl Sagan, ca. 1985.
Max Harker retweeted
China is exporting deflation in a more profound way than I believe many economists and strategists appreciate. All else equal, the 15% depreciation in the yuan relative to the dollar in the last year should have increased its PPI inflation rate by 15%. Instead it has dropped 4%.
Max Harker retweeted
I have been surprised how low US long-term rates have remained in light of structural changes that are likely to lead to higher levels of long-term inflation including de-globalization, higher defense costs, the energy transition, growing entitlements, and the greater bargaining power of workers. As a result, I would be very surprised if we don’t find ourselves in a world with persistent ~3% inflation.
From a supply/demand perspective, long-term Treasurys (T) also look overbought. With $32 trillion of debt and large deficits as far as the eye can see and higher refi rates, an increasing supply of T is assured. When you couple new issuance with QT, it is hard to imagine how the market absorbs such a large increase in supply without materially higher rates.
I have also been puzzled as to why the @USTreasury hasn’t been financing our government in the longer part of the curve in light of materially lower long-term rates. This does not look like prudent term management in my opinion.
Then consider China’s (and other countries’) desire to decouple financially from the US, YCC ending in Japan increasing the relative appeal of Yen bonds vs. T for the largest foreign owner of T, and growing concerns about US governance, fiscal responsibility, and political divisiveness recently referenced in Fitch’s downgrade.
So if long-term inflation is 3% instead of 2% and history holds, then we could see the 30-year T yield = 3% + 0.5% (the real rate) + 2% (term premium) or 5.5%, and it can happen soon. There are many times in history where the bond market reprices the long end of the curve in a matter of weeks, and this seems like one of those times.
That’s why we are short in size the 30-year T — first as a hedge on the impact of higher LT rates on stocks, and second because we believe it is a high probability standalone bet. There are few macro investments that still offer reasonably probable asymmetric payoffs and this is one of them.
The best hedges are the ones you would invest in anyway even if you didn’t need the hedge. This fits that bill, and also I think we need the hedge.
Max Harker retweeted
Real environmental activists
Vs
Fake environment activists
Guess which one gets mainstream media attention? 🤔
Max Harker retweeted
Global Sea Surface Temperatures are at record levels, and not just by a little. The North Atlantic is a whole 1 degree F above record territory. From a meteorologist perspective there are few words to describe how out of bounds that is. So what is going on?? Thread...
