Chairman Powell leans dovish in his annual remarks causing risk assets including Bitcoin, gold, equities, and energy to trade up sharply. DKI disagrees with the (potential) decision to cut rates, but still profits from it. The White House will be pleased, but don’t expect the President to start praising Powell in public. Copper tariffs are … Read more
MannKind is acquiring DKI portfolio position scPharmaceuticals ($SCPH) for $5.35/share in cash plus a contingent value right (CVR) worth up to $1.00/share. The full value represents a 31% premium to Friday’s closing price. MannKind has the necessary financing from Blackstone. This is the second DKI healthcare device portfolio company acquired in the past two … Read more
MannKind is acquiring DKI portfolio position scPharmaceuticals ($SCPH) for $5.35/share in cash plus a contingent value right (CVR) worth up to $1.00/share. The full value represents a 31% premium to Friday’s closing price. MannKind has the necessary financing from Blackstone. I’m listening to the conference call right now and will update you later today when … Read more
This week, we got a lower-than-expected CPI. Hooray, the Fed will cut! Then, we got a higher-than-expected PPI. Oh no, the Fed can’t cut! There’s some evidence that tariffs are raising prices for now, but not nearly as bad as the fiat economist threatened. The US puts a 15% tariff on $NVDA and $AMD chip … Read more
Seeking Alpha had a recap of last night’s authID ($AUID) conference call. It’s worth a quick read and contains a link to the transcript for those of you who want more detail. It was written by AI, but in my opinion, does a nice job capturing the important information. https://seekingalpha.com/news/4485845-authid-targets-18m-in-2025-bookings-as-idx-platform-launch-expands-total-addressable-market Information contained in … Read more
Bitcoin is an asset with no cash flows, no interest payments, and no fundamentals. That means explanations for short-term volatility are often little more than guesses. However, this time, there is an easy explanation for the volatility of the recent few weeks. In general, Bitcoin and gold tend to experience higher dollar prices when the … Read more
President Trump fires the head of the BLS. We immediately get performative complaining that the integrity of the BLS and the government data collection process is being threatened and politicized. Somehow, the “integrity” crowd ignores the fact that last year, there were two 800k plus revisions and we just had a 258k revision. Firing the … Read more
