Daily Alpha · YouTube
· Post-Market Alpha · by Buzzberg Research
Who was talking 64 videos · 22 channels
and 14 more channels show fewer channels
Fed credibility and the long end
1 video · 1h 07mBassman calls the long end a trust repricing with the 10-year breakeven near 2.34% and says hyperscaler borrowing is price-insensitive.
Bassman: hyperscaler borrowing is price-insensitive and crowds out credit
Bassman says hyperscaler projected borrowing is 'out of control' and price-insensitive — they will borrow at 6, 8, 10 or 12% because they are in an existential race — creating roughly 30-35% competition for money that the Fed cannot stop.
AI capex versus returns
1 video · 45mEinhorn says providers lack network-effect moats so users capture the surplus, and prefers gold over the Nasdaq over three to five years.
Einhorn: AI providers lack network-effect moats; users capture the surplus as providers price near marginal cost
Einhorn argues AI lacks the network effects that made Mag 7 platforms monopolistic (his Facebook example) and is capital-intensive rather than an IP/software business with high incremental margins, so with many interchangeable providers and low switching costs, providers will price at marginal cost plus a little and users will keep most of the benefit; he expresses this via AI-user beneficiaries like Centene rather than direct AI plays.
Meta paid for its own generation, grid resilience, upgrades and storm costs from day one in Louisiana
Louisiana commerce secretary Susan said Meta, in its relationship with utility Entergy, paid for its own generation, grid resilience, grid upgrades, and storm costs before any executive order required it, which she framed as taking burdens off Louisiana consumers.
DiMartino Booth: long-term unemployed now exceed job switchers, a recession signature
DiMartino Booth argues the August jobs report showed the share of unemployed Americans out of work 27 weeks or more surpassed 'job leavers' (those out of work five weeks or less, typically job switchers), which she says means the labor market is already in recessionary territory from scarring, contradicting Warsh's claim that labor force growth is keeping pace with job creation.
Generac lands up to $8 billion Amazon data center generator deal with equity warrant
Generac shares rose about 18% after agreeing to supply up to $8 billion worth of backup generators for Amazon's data centers, with a warrant issued for a stake in the company, and analysts saying the stock could double over the next 12 to 18 months.