Daily Alpha · YouTube
· Post-Market Alpha · by Buzzberg Research
Who was talking 64 videos · 14 channels
Financing quality
2 videos · 9mAsset-backed capacity can expand AI spending, but collateral depreciation, backstop exposure and customer returns remain untested.
AI finance is becoming an asset-backed product
CNBC's Leslie Picker framed the Nvidia initiative as a new asset-backed finance class; chip depreciation, residual values and future compute cash flows are not yet established.
CoreWeave's return step still trails its cost of capital
Gil Luria said CoreWeave is borrowing near 10% while earning roughly a 1% return on assets; a 5% operating margin is improvement, not proof of durable economics.
Physical oil test
1 video · 8mHormuz relief depends on freely moving ship traffic rather than negotiating language.
Physical Hormuz traffic remains the crude scorecard
Former US Energy Secretary Dan Brouillette said ships are not moving as before and that actual vessel traffic—not negotiating language—will determine crude pricing.
Long-end discipline
1 video · 25mCPI persistence and the long end determine whether easier short rates can coexist with stable bond yields.
Fed easing risks a long-end revolt
Ed Yardeni warned that lowering short rates can still provoke higher long yields if bond investors doubt fiscal and inflation discipline.
China is setting the marginal gold price
Michael Howell argued that Chinese liquidity and retail demand have made the Shanghai Gold Exchange the marginal price setter, overtaking the usual Western explanation.