The Luck Fallacy and Luck Egalitarianism

Futures Fall As AI Selloff Resumes US equity futures woke up after President's Day and chose to resume their selloff (after a modest bounce on Monday's holiday failed to hold) dragged by Tech, as the risk-off moves on AI disruption fears continue. As of 8:15am ET, S&P 500 futures were down 0.5% with Nasdaq 100 contracts falling 1.0%. In premarket trading, all Mag 7 stocks are lower and Semis are being pressured with AVGO / NVDA lower by more than 1%. Pockets of outperformance (and higher absolute returns) can be found...

" Mr Rubio said President Donald Trump was forced into a preemptive response after learning of an imminent Israeli attack."

"No More Mr. Nice Guy": Trump Sends Witkoff To Pakistan For U.S.-Iran Talks As Hormuz Traffic Freezes By Sunday morning, the latest Bloomberg ship tracking data showed that tanker traffic through the Strait of Hormuz had largely ground to a halt. There were multiple incidents of tankers U-turning over the last 24 hours. At the same time, a senior Iranian official renewed threats to close the Bab al-Mandeb Strait. The Hormuz chokepoint (closed once again after briefly opening on Friday morning) comes as the US blockade of Iranian ports remains in...