Steve Hou
@stevehou0
Quant Research @Bloomberg, opinions my own. Perpetually curious, but also "incredibly unsophisticated" (according to Chamath Palihapitiya).
🚨 The webinar is actually on Wed, July 23, at 2:45 pm - 3:15 pm EST [Sorry I got the time wrong before. Classic.] Register here: online.moneyshow.com/2025/july/accr…
Excited to speak at MoneyShow’s Virtual Expo next Thu, July 24 @ 1:30 pm ET! I’ll present “The Reformers: an earnings inflection strategy ” -- how beaten-down, money-losing companies can turn into big winners. 😄 Register free → bloom.bg/4lTLOWx
China is trying to implement “price control” going after not high but low prices and trying to prevent excessive competition leading to zero profits or losses for all. I’m not bullish on their odds of success. Chinese idiom: it’s treating the symptoms not curing the root causes.
China just launched the first major revision of its price law in 27 years, targeting irrational price competition and involution/内卷. The goal is to lay the legal groundwork for curbing destructive / involutionary price-cutting which is not just a trade concern, but a huge drag…
The Fed is a national treasure and the envy of the world. Apart from making monetary policy decisions and financial regulations, it’s a world premier economic and financial research institution. The Fed employs over 400 economists incl 300 at the Fed Board in DC and 100 at the…
Fed economists do better policy relevant research on the economy, better than just about any central bank around the world as good as any top university depts and certainly Wall Street economists, and have the ability and patience to research more in-depth and complex questions.
X makes you young and healthy!
1. Do you tend to get sick a lot? 2. Do you feel like you've aged worse than other people in your age cohort?
mission creep or the mission?
Anyone wants to let Comet trade stonks for them?
"By age 55, most are past their prime earning years, according to analysis of 110 million ADP payrolls or more than 13 million jobs. It found that median earnings peak at $97,600 for workers aged 45 to 54 years old and then taper from there." h/t: @atanzi
"150 AI researchers with enough funding behind them can create an OpenAI". This one-liner explains why SOTA foundational models won't be commoditized. The (human and financial) capital intensive nature of AI industry means it will be oligopolistic. Question is if it will be…
$NVDA's Jensen explaining why Zuck's strategy of poaching top AI talent and paying them +$100M makes sense. "150 AI researchers with enough funding behind them can create an OpenAI".
How much of the "slow hiring" and high continuing claims despite a seemingly tight labor market is attributable to AI? It seems most are either assuming zero or a tremendous amount, neither of which feels quite right to me.
ServiceNow CEO: slowing hiring in "soul crushing jobs" due to AI. $now
"Donald Trump will visit the Federal Reserve Thursday to tour the construction site he’s criticized for cost overruns." I think President Trump just misses his real estate roots. Can we contract the refurnishing project to the Trump Org?
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SCOOP: As part of its turnaround effort, Intel has partnered with Sydney Sweeney on a new custom AI chip (SS-100). More details to come.
“Feverish retail buying is leading to one of the largest quant drawdowns in years…”, and yet there was no such similar drawdown in 2021? Remember ARKK, GME, AMC and WallStreetBets?
Feverish retail buying is leading to one of the largest quant drawdowns in years…
Handshake deals are better than legally binding trade agreements imho. They are flexible and changeable in case either party changes their minds.
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