1% Insights

Why are people so nervous about spending these days? This year’s Nobel economics winners, Robert Hall and Michael Woodford, offer a surprisingly relatable explanation👇👇

Hall’s point: spending depends on more than today’s paycheck. It also depends on what you expect to earn down the road.

A one-off 10,000-yuan bonus might go straight into savings. An extra 1,000 yuan every month that you can count on? You might feel safer spending more.

That bonus comes once. Your mortgage bill comes every month 😅

Woodford’s work shows why expectations matter for prices, too. If a restaurant owner expects costs to keep rising, the next menu update may come with a bigger price hike. When lots of businesses do that, inflation gets harder to bring down.

So central banks can’t just set rates. They need to explain what’s coming—and give people reason to believe they’ll follow through. Credible commitments can change spending and pricing decisions today.

People aren’t necessarily getting stingier. They may just be worried about next year’s paycheck #Nobel #USstock

“It takes 20 years to build a reputation and five minutes to ruin it”🥀

— Warren Buffett

#Buffett #JensenHuang

🚨Update!!!Trump reveals details of a private call with Jensen Huang: He spoke with Huang yesterday — he feels he'd be better off dead, and kept saying "sorry to my wife, sorry to my family"

Bloomberg reports: At Wednesday's board meeting, Huang was in a state of utter remorse and breakdown, describing himself as a piece of 💩. When pressured, he was completely dispirited — "whatever," "anything's fine," "I don't care"... #TRUMP #NVIDIA

🚨BREAKING:President Trump calls on NVIDIA to hire Apple’s Tim Cook as its next CEO, replacing outgoing CEO Jensen Huang

“NOW THAT Nvidia CEO JENSEN HUANG, who has done a fantastic job, has resigned, there is only one man to take his place — TIM COOK of Apple. A Legend replaces a Legend!” #HuangExitNvidiaStrategyInFocus

🚨Ray Dalio stepped away from Bridgewater. Now one of the leading figures in its next generation of investment leadership is leaving too

On November 9, Canadian Prime Minister Mark Carney named Bridgewater co-CIO Karen Karniol-Tambour the first CEO of the Canada Strong Fund, which has an initial capital commitment of C$25 billion.

Her entire career had been at Bridgewater. She joined in 2006 straight out of Princeton, starting as an investment associate. Just two years later, the financial crisis hit. At 23, Dalio picked her for the team studying the crisis—figuring out how money, credit and debt interacted while markets were falling apart.

By 2023, at 37, she had become Bridgewater’s first female CIO. Seventeen years at one firm, from an entry-level role to sharing responsibility for its investment decisions.

She was also the youngest of its three co-CIOs, with plenty of room to help shape Bridgewater’s future. That’s already about as high as you can climb in the hedge fund world.

Now she’s taking on something very different: building a national investment fund from the ground up.

And according to Bloomberg, Bridgewater has no plans to hire or promote anyone to replace her #Dalio #Bridgewater

🚨🚨“The Big Short” investor Michael Burry is raising red flags over Broadcom’s $161 billion hardware deal with Anthropic—and says he WON’T BUY Anthropic shares when it goes public next week

According to Burry, the arrangement shifts some of the financial risk onto insurers. Here’s how he describes it:

Anthropic doesn’t buy Broadcom’s chips directly. Banks and Blackstone provide $63 billion to a separate company, which buys the chips and rents them to Anthropic.

Anthropic is set to pay roughly $161 billion over the full lease term. Meanwhile, Broadcom has agreed to lend it up to $42 billion specifically to cover those lease payments.

In plain English: the chip seller is lending its customer money to rent its own chips. If Anthropic can’t pay, the damage could spread to banks, investors, and even insurers.

Burry’s concern goes beyond Anthropic. It’s an AI industry where the same companies are suppliers, lenders, and shareholders—all financially tied to one another #AnthropicIPO

🎙️Cathie Wood: The AI Bull Market Is Not in Its Final Stages🫧

In an interview with CNBC, Cathie Wood said she remains optimistic about the market outlook. “When the market is worried, I always feel more at ease, because that usually means the bull market has more staying power. I don’t think this bull market has gone off track.”

Wood expects the U.S. stock market rally to continue into 2027, with advances in technologies such as AI agents and robotaxis providing further momentum. However, she also acknowledged that rising financing costs are becoming a significant risk for technology stocks #AI #CathieWood #USstock

$3 Trillion Wiped Off the Stock Market in One Day—but “We Will Be Back!”💪🔥🔥

U.S. President Donald Trump’s latest post:

“America took a giant step backward in history with the results of the last election—even the stock market, which had soared like a ‘ROCKETSHIP’ under ‘TRUMP,’ lost $3 trillion in a single day. But have no fear: we will be back, BIGGER AND STRONGER THAN EVER BEFORE!”#TRUMP #USstock

🎙️Musk sets another massive target: $500 billion in annualized recurring revenue for SpaceX next year, with Starlink computers heading into orbit.

Joining Friday’s Baron Investment Conference remotely, Musk laid out a series of ambitious predictions:

1️⃣SpaceX’s annualized revenue could exceed $100 billion by December 2026, with annualized recurring revenue potentially topping $500 billion by December 2027

2️⃣Terafab aims to produce chips supporting one terawatt of computing capacity each year—30 times next year’s global AI chip output, according to Musk

3️⃣Starlink computers co-designed with Nvidia are expected to start reaching orbit in Q3 2027

4️⃣AI agents already generate more internet traffic than humans, he said. Within five years, that traffic could reach 1,000 times human levels #Musk #AI #SpaceX

One day after the election, stocks get wrecked, and Trump already knows who to blame😇😇

His post on Truth Social:

"The Stock Market suffered one of the Worst Days in History based on the results of the Election... Your 401(k)s have, therefore, dropped. Remember, it wasn't Republicans, it was Dumocrats."

Then the usual ending: don't worry, we'll be BIGGER AND STRONGER THAN EVER BEFORE. MAGA #Nasdaq100Tumbles6% #TRUMP

🚨The midterms just made Trump's last two years a lot harder.

Democrats took the House AND the Senate, and flipped a bunch of red-state Senate seats along the way. So every bill and every nominee he wants now has to get through a Congress run by the other side.

Two people hold most of that power: Chuck Schumer, who leads Senate Democrats, and Hakeem Jeffries, who's about to become Speaker of the House.

Trump told ABC News he hasn't talked to either of them since the election. He still thinks they can work together, though:

"I think we can get along. If we can do that, it's good for the country. The country's had enough."

Then he made a point of adding this:

"I've spoken to other Democrats since the midterms, not those two. Others. They've been calling me. I have friends in the Democratic Party."

So he's offering to work with Democrats while making it clear he doesn't need their leaders to do it.

Real olive branch, or is he trying to split them? 🤔🤔 #USMidterms-WhatAreMarketsExpecting? #TRUMP

🎙️Charlie Munger at 99, on the worst bet of his career:

"I got charmed with the idea of their position on the Chinese internet. I didn't stop to realize that it was still a goddamn retailer."

This is from February 2023. He sat down with CNBC at the Daily Journal meeting and called Alibaba "one of the worst mistakes I ever made" 🤯

The lesson he took from it is simple. He fell for the internet-giant story and never asked how the business actually makes money. And retail is a knife fight. The moat isn't nearly as deep as the hype makes it look #CharlieMunger #invest

Your stock's down 30% over 11 years. What do you do?🤔🤔

Dan Bin, a well-known Chinese investor, put this exact question to Buffett face to face: Coca-Cola dropped 30% in 11 years, so what's your take?

Buffett's answer: when stocks fall, other people get scared. Me? I love it 😂I get to buy great companies cheaper #stock #Buffett

🚨Ken Fisher keeps hammering one point: bear markets almost never come from the thing everyone's already scared of.

US debt just crossed $40 trillion and the timeline's full of "death spiral" takes. But he points out global debt-to-GDP has actually come down, from about 285% at the end of 2020 to around 246%. And the risks everybody talks about every day? Mostly priced in already.

What actually blows things up is usually some well-meaning government move nobody's paying attention to. Look at 2008. Accounting rules forced banks to mark their assets to market, they had to take massive write-downs, credit froze, and the whole economy got dragged down with it.

So forget the $40T for a sec. What's the thing nobody's talking about right now? #KenFisher #GDP #SEC #Tbills

🔥🎙️Trump on the $6.3B Binance hack: "We don't know. We're looking at that"

Reporters asked him point-blank if North Korea was behind it. He wouldn't say yes.

The on-chain sleuths already have their answer, though. TRM Labs and Elliptic both point to TraderTraitor, the crypto-stealing unit of North Korea's Lazarus Group. The FBI and Secret Service are on it too #BinanceHacks #Binance #TRUMP

#FOMC‬⁩ Fed Chair Kevin Warsh just dropped a line every AI bull should hear:

"Interest rates get in the cracks."

Someone asked him if the AI boom is immune to higher rates. His answer: nope. Rates hit almost everything, directly or indirectly. He even pointed out investors have gotten a lot pickier since early September. That's rates doing their thing.

The Fed held at 3.75%–4% this week, but two members voted for a hike. And Warsh didn't sound like a guy in a hurry to help:
· Inflation is "still too high" and it's on the Fed to bring it down
· No promise on a December hike, but what matters is where rates end up, not when
· Politics played zero role in the call

#FOMCWatch When rates stay high, the rich aren't the ones who get hurt first. The bottom 60% are.

Ray Dalio just broke it down, and it's pretty simple:

The government keeps borrowing, and everyone else gets pushed out of line for credit.

If you've got plenty of money, you're the last to feel it. Families without much cushion and companies that can't easily borrow feel it first.

Then credit gets tight, business slows down, profits drop, and stocks eventually catch up.

Basically, high rates make the strong stronger and squeeze everyone else. The market just takes a while to notice.

Elon just handed 200+ neoclouds a death sentence.

His post on X was unusually blunt: over the past few weeks, debt markets have "almost entirely shut off access to money" for any company that doesn't have substantial revenue outside of AI data centers. In plain terms — if your only story is selling GPU hours, the debt window is basically closed.

Three things worth pulling out of this:

1. The money tap is off. Bond market isn't funding pure-play compute stories anymore.
2. 200+ neoclouds are heading for "guppy-level death and consolidation." Most won't make it.
3. SpaceX just closed $40B in debt for GPUs — but only because it's investment grade with Starlink and launch revenue backing it.

The real signal: in this cycle, revenue and credit rating decide who survives. Pure infrastructure plays without independent cash flow are about to find out what a leverage cliff looks like.