What happens to bank margins when their customers start using AI agents?

Outside my hotel in Miami

The knights in front of me put in a shift too!

What a team

There’ll be no rowing in New York

Fortress may have accumulated $5.5bn of debt to get it up and running, but the Brightline rail service is great! On my way to Miami 🏴󠁧󠁢󠁥󠁮󠁧󠁿

Good seeing @TheStalwart and @tracyalloway live in London

Another example of the Canadian Paradox cc/ @dsquareddigest

Founder of alternative asset firm Blue Owl reckons fears of ruptures in private credit are "like the Mandela effect of finance... just common population collective misimpression of what's going on." To explore the issue further, I'm hosting a webinar with Sayonton Roy of Citigroup.

Launch of ABX index in Jan 06 created a coordination point for subprime unwind. Will H100 rental index (launched in May 2025) fulfil same role for compute? “Goal is to turn GPUs into a benchmarked asset class that can be traded like any other financial instrument” says founder.

On an earnings call in 2023, CEO of Soul Patts in Australia commented on the likeness between his firm and one in Omaha. "Not to copy what Berkshire Hathaway has done, but I think we just kind of ended up in the same place." Anyway, they've just done a deal.

Wrapped up the FPL season by topping the FinTwit Premier League. Thanks to all the great managers for the battle. Already thinking about next season…