Bancroft Sutherland
@bancsutherland.bsky.social
Portfolio manager
Incredible thread that starts with “someone is wrong on the internet”, and essentially ends with “I award you no points, and may God have mercy on your soul.”
November 23, 2025 at 12:18 PM
Incredible thread that starts with “someone is wrong on the internet”, and essentially ends with “I award you no points, and may God have mercy on your soul.”
🎶 No woman, no cry
No woman, no cry
Good friends we have
Good friends we've lost
Along the way
In this great future
You can't forget your past
So dry your tears, I say
No woman, no cry 🎶
No woman, no cry
Good friends we have
Good friends we've lost
Along the way
In this great future
You can't forget your past
So dry your tears, I say
No woman, no cry 🎶
November 23, 2025 at 2:07 AM
🎶 No woman, no cry
No woman, no cry
Good friends we have
Good friends we've lost
Along the way
In this great future
You can't forget your past
So dry your tears, I say
No woman, no cry 🎶
No woman, no cry
Good friends we have
Good friends we've lost
Along the way
In this great future
You can't forget your past
So dry your tears, I say
No woman, no cry 🎶
That’s a move.
November 21, 2025 at 1:10 PM
That’s a move.
At least there is no risk of a dividend cut.
November 21, 2025 at 12:02 PM
At least there is no risk of a dividend cut.
Now under 1/3, but still seems high given the lack of new data before the meeting, tbh.
November 20, 2025 at 12:04 PM
Now under 1/3, but still seems high given the lack of new data before the meeting, tbh.
4.2%. We are living in strange times.
November 19, 2025 at 4:08 PM
4.2%. We are living in strange times.
This part of the podcast reminded me of a NYT piece on the radiology department at Mayo Clinic, which has integrated AI tools and grown the staff by 55% in tandem over the last several years.
November 13, 2025 at 1:33 AM
This part of the podcast reminded me of a NYT piece on the radiology department at Mayo Clinic, which has integrated AI tools and grown the staff by 55% in tandem over the last several years.
Good visual today for illustrating trading vs investing
November 6, 2025 at 6:35 PM
Good visual today for illustrating trading vs investing
Today in “that’s not how this works”
November 4, 2025 at 3:42 PM
Today in “that’s not how this works”
The $5.8 trillion controlled by those 1,135 billionaires is about 38% more than the combined wealth of the bottom half of households in the entire country, per the Federal Reserve.
November 2, 2025 at 10:18 PM
The $5.8 trillion controlled by those 1,135 billionaires is about 38% more than the combined wealth of the bottom half of households in the entire country, per the Federal Reserve.
the Good Lord would never disrupt the best game of my life
October 25, 2025 at 11:47 AM
the Good Lord would never disrupt the best game of my life
The bunker will now be accessible by having the ballroom floor open up like the gym in It’s a Wonderful Life.
October 23, 2025 at 8:08 PM
The bunker will now be accessible by having the ballroom floor open up like the gym in It’s a Wonderful Life.
From yesterday’s The Daily, on the resilience of this market. Not mentioned in this example are the facts that 1) AMZN fell 95% from that peak over the next 2 years & took 10 years to recover, or that 2) AWS did not exist in ‘99 and no one was imagining that cash flow machine w/in the company.
October 21, 2025 at 12:22 PM
From yesterday’s The Daily, on the resilience of this market. Not mentioned in this example are the facts that 1) AMZN fell 95% from that peak over the next 2 years & took 10 years to recover, or that 2) AWS did not exist in ‘99 and no one was imagining that cash flow machine w/in the company.
Eloquent life wisdom from Cormac McCarthy, narrowly applied to investing/trading: survivorship bias matters more than you can imagine, and there is only so much you can glean from past events/patterns/correlations.
October 19, 2025 at 2:43 PM
Eloquent life wisdom from Cormac McCarthy, narrowly applied to investing/trading: survivorship bias matters more than you can imagine, and there is only so much you can glean from past events/patterns/correlations.
This messaging works surprisingly well in the voice of Gordon Gekko.
October 18, 2025 at 2:40 PM
This messaging works surprisingly well in the voice of Gordon Gekko.
just need to redefine the legs of the K
October 15, 2025 at 1:29 PM
just need to redefine the legs of the K
Absolute golden age for the market impact of relatively vague strategic announcements.
October 13, 2025 at 4:56 PM
Absolute golden age for the market impact of relatively vague strategic announcements.
Have been trying to weigh the impact of these points (exposure/concentration/margin) on those households against the fact that cash/equivalent reserves are also dramatically higher than pre-pandemic. Paper losses vs. actual forced selling, etc.
October 11, 2025 at 1:21 PM
Have been trying to weigh the impact of these points (exposure/concentration/margin) on those households against the fact that cash/equivalent reserves are also dramatically higher than pre-pandemic. Paper losses vs. actual forced selling, etc.
16.4 F’ING YEARS: time until the Nasdaq Comp finally eclipsed the dot-com high water mark for good.
Regardless of the drivers or specifics, things can get insane but then remain insane for a long time. And recoveries from concentrated inanity can take a lot longer than you’d imagine.
4/4
Regardless of the drivers or specifics, things can get insane but then remain insane for a long time. And recoveries from concentrated inanity can take a lot longer than you’d imagine.
4/4
October 3, 2025 at 7:38 PM
16.4 F’ING YEARS: time until the Nasdaq Comp finally eclipsed the dot-com high water mark for good.
Regardless of the drivers or specifics, things can get insane but then remain insane for a long time. And recoveries from concentrated inanity can take a lot longer than you’d imagine.
4/4
Regardless of the drivers or specifics, things can get insane but then remain insane for a long time. And recoveries from concentrated inanity can take a lot longer than you’d imagine.
4/4
12.3 years: length of time between Greenspan’s speech and the (unrelated) GFC low, at which point both the Nasdaq and SPX were below water relative to the “irrational exuberance” close.
3/
3/
October 3, 2025 at 7:37 PM
12.3 years: length of time between Greenspan’s speech and the (unrelated) GFC low, at which point both the Nasdaq and SPX were below water relative to the “irrational exuberance” close.
3/
3/
5.67 years: time between Greenspan’s speech and the point at which the post-crash Nasdaq finally gave up all of those additional gains and returned to breakeven.
2/
2/
October 3, 2025 at 7:35 PM
5.67 years: time between Greenspan’s speech and the point at which the post-crash Nasdaq finally gave up all of those additional gains and returned to breakeven.
2/
2/
Some bubble history, since the tone regarding the current environment seems to have shifted a bit. File under “How long can things stay irrational?”
1,191 days: time between Greenspan’s “irrational exuberance” speech and the Nasdaq peak.
290%: return of the Nasdaq Comp over those 1,191 days.
1/
1,191 days: time between Greenspan’s “irrational exuberance” speech and the Nasdaq peak.
290%: return of the Nasdaq Comp over those 1,191 days.
1/
October 3, 2025 at 7:33 PM
Some bubble history, since the tone regarding the current environment seems to have shifted a bit. File under “How long can things stay irrational?”
1,191 days: time between Greenspan’s “irrational exuberance” speech and the Nasdaq peak.
290%: return of the Nasdaq Comp over those 1,191 days.
1/
1,191 days: time between Greenspan’s “irrational exuberance” speech and the Nasdaq peak.
290%: return of the Nasdaq Comp over those 1,191 days.
1/