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2 days ago | 
therandomwalk.co | Moses Sternstein
Rotation to the National Nursing home, recapped and implications laid barethe most common job in america is (and will be)Uncle Sam’s Immigrant Nursing Brigade, sans immigrants, NYC editionabove-trend hiring exists, if you know where to lookforeign born labor force, going in reverse👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun. Random Walk has been highlighting the outsized role of “healthcare” in the economy for some time.
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4 days ago | 
therandomwalk.co | Moses Sternstein
Meta’s models really have fallen behindBonus: what do reward models value? 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun. Mark Zuckerberg and META 0.00%↑ have been making headlines lately for throwing big-money around on the AI talent front. The company paid $14B for Scale.ai, for reasons no one can fully explain. Zuck is also apparently trying to woo Silicon Valley/AI royalty, Daniel Gross and Nat Friedman, to join the team.
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5 days ago | 
propertychronicle.com | Moses Sternstein
Just two quick charts on the “Fade America, Long Europe” trade that’s become de jour. The basic premise is that big bad Trump is ruining America’s reputation as an exceptional place for risk assets, and that as a result, investors are going take their business elsewhere, like Europe, for example. Now, Random Walk hasn’t remotely thought all of this through, but I’m generally pretty skeptical.
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5 days ago | 
therandomwalk.co | Moses Sternstein
China needs the trade war to end (maybe)bond defaults have disappeared from a multi-trillion dollar marketchinese manufacturing margins compressing, rise of unprofitable companiesit’s because of the tariffs, but actually it’s got nothing to do with tariffswe’ve got more alike than we’d like to think👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun.
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1 week ago | 
therandomwalk.co | Moses Sternstein
Publishing note:Random Walk is going to experiment with a different publishing cadence over the next few weeks (more details forthcoming). I will endeavor to trade some frequency for depth, at least some of the time. home values continue to fall, the builders reportGSEs and Goodhart’s Lawgreat time for a condo on the Gulf Coast of Floridastarting to show in unemployment? 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun.
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1 week ago | 
therandomwalk.co | Moses Sternstein
Publishing note:Random Walk is going to experiment with a different publishing cadence over the next few weeks (more details forthcoming). I will endeavor to trade some frequency for depth, at least some of the time. if foreign investors have fallen out of love with US capital markets, then someone should tell themA change in the bank reserve leaderboardstill waiting the for the Euro bump👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun.
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1 week ago | 
therandomwalk.co | Moses Sternstein
Publishing note:Random Walk is going to experiment with a different publishing cadence over the next few weeks (more details forthcoming). I will endeavor to trade some frequency for depth, at least some of the time. public market multiples are historically highprivate market multiples are historically highthe secret to solving the ‘liquidity crisis’ (isn’t actually all that hard)👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun.
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2 weeks ago | 
therandomwalk.co | Moses Sternstein
Publishing note:Random Walk is going to experiment with a different publishing cadence over the next few weeks (more details forthcoming). I will endeavor to trade some frequency for depth, at least some of the time. netflix having a blockbuster momentstreaming reinvents cablestep-change in shopping habitsđđđReminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun. Keeping it short and light.
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2 weeks ago | 
therandomwalk.co | Moses Sternstein
Publishing note:Random Walk is going to experiment with a different publishing cadence over the next few weeks (more details forthcoming). I will endeavor to trade some frequency for depth, at least some of the time. waymo cooks;people leave farther from work now, and that’s good, especially for familiesthe other factor driving home valuesthe horrors of rent-control—why won’t the FTC intervene?
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2 weeks ago | 
therandomwalk.co | Moses Sternstein
Publishing note:Random Walk is going to experiment with a different publishing cadence over the next few weeks (more details forthcoming). I will endeavor to trade some frequency for depth, at least some of the time. gov’t borrowing crowding out private borrowersmaking your own tailwinds or why profits is the sole factor that mattersKKR on household and corporate leveragewhere did all the liquidity go? 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much.
