Framework for a Single-Minded Market

Tokenmaxxing Is As Ridiculous As It Sounds

Strategy Memo

Dispersions Don’t Last

Research Memo

Investors Overestimate Their Ability To Time Cyclical Trades

SpaceXAI IPO Supply Overhang

Research Memo

AI Amplifies Good and Bad Engineering

Strategy Memo

OpenClaw, NemoClaw, and the Path to Institutional AI

Strategy Memo

The Software Obituary Is Wrong

Research Memo

The Gloves Have Come Off

The legendary F1 driver Ayrton Senna once said “You cannot overtake fifteen cars when it’s sunny weather, but you can when it is raining.”