List of Previously Pinned Tweets
In January 2020, I started the practice of pinning my Tweets. Pinned Tweets are somewhat more special, fundamental, or deeper than my other Tweets. They may be worth referring back to. So, it made sense to compile the list which appears here.
In April 2021, I added a sentence or two starting with "Why did I pin this?" in order to convey my motivation for pinning each Tweet.
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15. The Great Taking; Dec. 19, 2023
Why did I pin this? It explains a lot of things that I've been thinking about for more than a decade such as, why is global debt-to-GDP so high? Why does it keep rising? How come no one in leadership positions seems to express concern publicly?
14. Insights into Federal Reserve policy; May 26, 2023
Why did I pin this? I'm fascinated by the Fed and its intentions. Michael Burry and John Hussman have both called it "willfully ignorant".
13. Pacer's family of Cash Cow ETFs; Feb. 5, 2023
Why did I pin this? These ETFs are based on maximizing FCF/EV or the ratio of Free Cash Flow to Enterprise Value (which is Market Cap plus Debt minus Cash). This is a screen that makes good fundamental sense and provides conviction when allocating capital. The ETFs also involve periodic rebalancing which is also good.
12. [Allen Farrington] Bitcoin as Base Money ("Only the Strong Survive"), Farrington's writings, The people Farrington reads; Oct. 29-31, 2021
Why did I pin this? I was moved as much by Farrington's Only the Strong Survive as I was by John Pfeffer's 2017 article on Bitcoin. Up until reading Farrington's article, I thought that Ethereum was a "more evolved" cryptocurrency than Bitcoin. This article made me aware that there is a strong case in favor of Bitcoin in so far as base money is concerned. Also, all of Ethereum's features (e.g. smart contracts, transaction speed) can also be built as higher layers on top of Bitcoin (e.g. Lightning). I need to delve into these topics further.
11. Volatility Cycle; Oct. 14, 2021
Why did I pin this? The article makes it possible to better appreciate volatility.
10. [Steven Van Metre, Hoisington] QE: is it inflationary or deflationary? Tweet1, Tweet 2; April 4-6, 2021
Why did I pin this? Understanding inflation requires not only understanding the change in both demand and supply for the good in question, but also the change in both demand and supply for the currency in which that good is priced. When QE isn't accompanied by lending, it causes money demand growth to exceed money supply growth which is deflationary assuming no change in the demand or supply for the good in question.
9. [Harley Bassman] The Convexity Maven; March 10, 2021
Why did I pin this? A practical discussion of how to construct an investment position so that it has a convex payoff instead of a linear one.
8. [Doug Casey] Parallels between Ancient Rome and modern day US; Dec. 31, 2020
Why did I pin this? The problems of modern US are anything but simple and ordinary.
7. [Economist Magazine covers] Complete list of The Economist magazine covers; Dec. 31, 2020
Why did I pin this? An exercise in trying to detect any correlation between these magazine covers and aggregate stock market level.
Why did I pin this? Interesting use of quantitative analysis in order to obtain an edge in securities markets.
5. CAPE Ratio by Country, Aug. 20, 2020
Why did I pin this? A low CAPE ratio country is not necessarily a good buy unless one expects it to rise during the holding period that one might have in mind; a rule of thumb would be to compare the low CAPE ratio to its historical average. The opposite kind of statement can be made about a high CAPE ratio country.
4. [Ray Dalio] Excerpts from his online Book entitled "The Changing World Order, Chapter 1", aka Cycles of Rising and Declining Empires, May 22, 2020
4. [Ray Dalio] Excerpts from his online Book entitled "The Changing World Order, Chapter 1", aka Cycles of Rising and Declining Empires, May 22, 2020
Why did I pin this? A multi-century study of the rise and fall of empires and major global powers is likely to contain useful insights for our future.
3. [Jim Rickards] How does it make sense for people to be making both a bearish forecast on gold as well as a bullish one?, aka "Deflation then Inflation", April 26, 2020
3. [Jim Rickards] How does it make sense for people to be making both a bearish forecast on gold as well as a bullish one?, aka "Deflation then Inflation", April 26, 2020
Why did I pin this? It's rational to simultaneously be expecting both inflation and deflation because the time horizons for each might be different.
2. [Jeffrey Gundlach] Selected Slides from his Webinar entitled "A Tale of Two Sinks", March 31, 2020
Why did I pin this? Can't recall what was going through my mind at the time ... The timing was a week after the trough in US stock prices in the era of Covid-19.
1. [Lyn Alden] Her Expectations for the Next Decade, Jan. 10, 2020
Why did I pin this? I thought it was important to point out Alden's bearish stance on US stocks and bullish stance on precious metals.
Note about "Likes": Likes are nothing more than bookmarks for me. They are a private matter and I'm not too pleased with Twitter's practice of broadcasting them.
