Quinn Thompson
@qthomp
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CIO @Lekker_Cap | Podcast @ForwardGuidance
Joined December 2018
A little Friday treat for ya with @fejau_inc & @qthomp on vacation. One of my favorite market iconoclasts @hkuppy comes on @ForwardGuidance to chop it about how messed up the asset management industry is. Welcome to Asset Driven Feudalism until Project Zimbabwe recommences!
🎙️NEW POD: Why Today’s Economy Serves Assets, Not Workers We Cover: 🔸 Asset-driven feudalism 🔸 Why Main St. only had 6 days 🔸 Broken market structure 🔸 Where real growth is hiding 🔸 AI capital misallocation & more! @kuppyskorner @Tyler_Neville_ Links Below ↓
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Volatility Controllers are gonna volatility control so they can keep squeezing yield from the middle class. Welcome to Feudalism @hkuppy !! BTW- I'm interviewing Kuppy on @ForwardGuidance tomorrow on his feudalism piece. Lob in some good Q's for me to ask him. @fejau_inc
From @fcastofthemonth "This is totally inexcusable. The BLS just assumed rent/OER were zero for October. I am sure they have a good technical explanation for this, but the only way you get a two-month average for rent of 0.06% and OER at 0.135% is assuming October was zero.
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BLS choosing the manual override option for inflation data 😂🤣
From @fcastofthemonth "This is totally inexcusable. The BLS just assumed rent/OER were zero for October. I am sure they have a good technical explanation for this, but the only way you get a two-month average for rent of 0.06% and OER at 0.135% is assuming October was zero.
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Excited to announce that I will sitting down with @SteveMiran for a fireside chat at the upcoming @blockworksDAS !
ANNOUNCING Federal Reserve Board Governor @SteveMiran will join @fejau_inc for a fireside chat on Day 2 of DAS NYC 2026 March 25th. Don't miss it.
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From Dec 8 to Dec 21, Save Up to 50% on Roborock Vacuums Built for Effortless Cleaning.
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NEW ROUNDUP: AI & Central Planning Are Propping Up the Economy We Cover: 🔸 Nominal data masking real demand 🔸 When the CapEx cycle finally busts 🔸 Are metals the next big trade? 🔸 Kevin Hassett & 2026 Fed politics @Tyler_Neville_ @qthomp @fejau_inc Links Below ↓
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Thought you’d like this @Tyler_Neville_ @fejau_inc. One of the top candidates for Fed chair recalling a story where a previous FOMC member called QE a ponzi 😂 @ForwardGuidance
@biancoresearch Very good interview with Warsh. Also note that Kevin Warsh and Stanley Druckenmiller are professional colleagues, with Warsh serving as a partner at Druckenmiller's Duquesne Family Office. - Fed's Role: Druckenmiller faults the Federal Reserve's easy money policies for
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The data says you are correct @hkuppy 1. Share of wealth owned by Americans > 70 years old is at record levels and rising 2. 83% of new jobs in 2025 are health services (keeping said asset owners alive). This has been steadily rising from just 3% of total new jobs in 2021. 3.
https://t.co/WBYpo2rsYu Feudalism
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Long end problems will continue indefinitely
Small businesses are contracting like it’s a recession while yields surge like it’s a boom. The Trump admin is now inheriting an impossible tradeoff: stimulate jobs and risk overheating, or tighten and risk losing midterms. @qthomp
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Nice @fejau_inc
The market may need to absorb ~$1.4T of duration over the coming years as the Fed shifts its SOMA portfolio toward short-dated bills. That’s a structural bull steepener, not a liquidity wave The logic is straightforward: • Lower the front end to help Main Street’s
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The Fed effectively admitted they had no new information yet delivered a 180° pivot from October @qthomp If the underlying data were the same in October and December, was there a genuine economic insight before this meeting we're missing? Or was it just a desire to let some air
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Hearing things about a @ForwardGuidance x @TgMacro collab at the inaugural TG Macro Conference in Nashville. Join us next February. Link and tickets👇
I'm feeling extremely blessed after Thanksgiving. Brent Johnson @SantiagoAuFund and Harris Kupperman @hkuppy will join @dailydirtnap, @Alyosha745, @DoombergT, @ttmygh, and me to complete the speaker roster at the first TG Macro Conference. Please join us
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Love to see this drop the day after we recorded. 2026 might actually be Main Street’s turn. @fejau_inc @Tyler_Neville_
I think this episode is worth a listen if you are trying to understand today’s market moves. We recorded right after FOMC yesterday and seem to have gotten a decent amount of it directionally correct.
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I think this episode is worth a listen if you are trying to understand today’s market moves. We recorded right after FOMC yesterday and seem to have gotten a decent amount of it directionally correct.
NEW ROUNDUP: Fed Embraces "Run It Hot" For Powell's Final Months We Cover: 🔶 FOMC presser, projections & new RMPs 🔶 Consequences of wealth disparity 🔶 Mag7 ceiling and small cap rotation 🔶 Crypto’s disappointment 🔶 Are we getting a Santa rally? @Tyler_Neville_ @qthomp
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NEW ROUNDUP: Fed Embraces "Run It Hot" For Powell's Final Months We Cover: 🔶 FOMC presser, projections & new RMPs 🔶 Consequences of wealth disparity 🔶 Mag7 ceiling and small cap rotation 🔶 Crypto’s disappointment 🔶 Are we getting a Santa rally? @Tyler_Neville_ @qthomp
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The data says you are correct @hkuppy 1. Share of wealth owned by Americans > 70 years old is at record levels and rising 2. 83% of new jobs in 2025 are health services (keeping said asset owners alive). This has been steadily rising from just 3% of total new jobs in 2021. 3.
https://t.co/WBYpo2rsYu Feudalism
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A few weeks ago on @ForwardGuidance I called $NVDA a national security threat. The US stock market has a Mag7 problem. Concentration risks are mounting as the top 10% of US stocks now represent ~80% of total US equity market cap. It begs the question - does the US have a
$PLTR at ~250x earnings, $NVDA at $5T, and the top 10 stocks now making up 40% of the S&P The problem with bubbles is that they’re reflexive in both directions, and when the entire market floats on Fed-driven liquidity, the distortions get extreme Meanwhile, the core of
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Small businesses are contracting like it’s a recession while yields surge like it’s a boom. The Trump admin is now inheriting an impossible tradeoff: stimulate jobs and risk overheating, or tighten and risk losing midterms. @qthomp
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NEW ROUNDUP: AI & Central Planning Are Propping Up the Economy We Cover: 🔸 Nominal data masking real demand 🔸 When the CapEx cycle finally busts 🔸 Are metals the next big trade? 🔸 Kevin Hassett & 2026 Fed politics @Tyler_Neville_ @qthomp @fejau_inc Links Below ↓
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