MAD Macro - Business Trip
Listen Eric, Just Copy Hunter’s Deals
Deja vu All Over Again
So far, the Trump-Xi summit is looking more like a business trip. Dumb Eric Trump and his smart wife, Lara, were on Air Force One for the trip to China. They deplaned just in front of Elon and Marco. Dumb Eric and Dumber Don Jr are having some problems with their media and crypto businesses. So, Daddy Trump is trying to help out with some introductions to Chinese investors. If Hunter could attract Chinese investments, Dumb Eric should have no problem shaking down a few investors on this trip. I included the charts of the Trump family’s three publicly traded companies: one media company and two crypto companies. They don’t look so good on the charts. Trump is speaking in China as I am writing this morning. He is riffing on the historic U.S. China relationship. Somehow Ben Franklin, George Washington, Teddy Roosevelt, and Franklin Roosevelt made it into the speech. Then it went right to business-basketball, blue jeans, and fast food. Then he invited Xi to the White House in September. Maybe Dumb Eric can pivot the Trump media and crypto businesses into basketball, blue jeans, and fast food.
Rain Man Michael Burry is warning about a tech bubble. He wants a sequel to The Big Short. Christian Bale is probably available to pay the part again. “Cassandra Unchained” wrote on Substack yesterday that the melt up in AI stocks is a “scene of the bloody car crash, minutes before it happens”. The WSJ has an article today on Rain Man Burry, linked here. It’s titled, “When Market Pundits Cry Wolf”.
Markets are making new highs again this morning. I guess if it’s a bubble it’s going to get a little bigger this morning before the car crashes. Most other markets are close to unchanged. The newest hot IPO Cerebras starts trading today after pricing last night, raising $5.55 biiillion.
I added the three charts of the Trump family’s publicly traded business and updated the U.S. Dollar Index, U.S. 10yr yield, U.S. 10yr-2yr yield spread, WTI crude oil, NY copper, spot gold, spot silver, NYSE Arca Gold Miners Index, bitcoin, Strategy, S&P futures, NASDAQ 99 futures, and DOW futures charts below.
The dollar is unchanged and interest rates are close to unchanged.
Crude oil is unchanged at $101. Copper is slightly lower and spot gold and silver are unchanged. The NYSE Arca Gold Miners Index should also open unchanged. Bitcoin is unchanged and Strategy is due to open unchanged.
The S&P, NASDAQ 99 and DOW futures are all higher.
