Notes today

•  B of A’s latest survey of portfolio managers has their cash allocation at 3.5% of portfolios. 
• Versus: The mystery over Warren Buffett’s surprisingly defensive stance deepened over the weekend.
• Letter -  must read!

• Musk Says All Federal Workers Must Justify Job or Risk Dismissal.

• When DOGE employees showed upat CFPB, they left staffers with the impression that they weren’t sure what the agency did... 

• The Trump administration backtracked on eliminating thousands of seasonal workers at Yosemite and other national parks after public outcry over how the job cuts would affect visitors. 

 

Problem with these notes: some tend to run up against a deeply rooted feature of human cognition - the desire not to think about anything unpleasant…Sorry about that.

"Everything will be all right. And, even if it won't be, we'll have the consolation of having lived honest lives." Alexei Navalny