Sam Ro
@tker.co
Editor of TKer.co | Chief evangelist of the stock market usually going up 📈
Pinned
How an explosive salesman's old equation helps explain why stock market valuations are high 💥
A crash course on return on capital and the DuPont decomposition of ROE 🧐
www.tker.co
How an explosive salesman's old equation helps explain why stock market valuations are high 🧮 www.tker.co/p/dupont-dec...
🍕🍔"According to Bank of America card data, casual dining and pizza restaurants have seen multi-year share declines within overall restaurant spending as consumers gravitate toward eateries that offer better value, convenience, or novelty." institute.bankofamerica.com/economic-ins...
February 12, 2026 at 3:16 PM
🍕🍔"According to Bank of America card data, casual dining and pizza restaurants have seen multi-year share declines within overall restaurant spending as consumers gravitate toward eateries that offer better value, convenience, or novelty." institute.bankofamerica.com/economic-ins...
Good discussion on depreciation. Worth noting that you can often find depreciation broken out on cash flow statements. All this will become a much bigger deal when the new data centers and stuff go live. Wrote about this for TKer.co subscribers on Tuesday...
Heard on the Street: A major concern for investors during the AI boom is that they can’t find depreciation expenses listed on the income statements for Alphabet, Amazon, Meta, Microsoft or Oracle.
Big Tech Accounting Creates a Blind Spot in the AI Boom
Depreciation expenses are about to soar, making a lack of transparency a growing problem.
on.wsj.com
February 12, 2026 at 12:39 PM
Good discussion on depreciation. Worth noting that you can often find depreciation broken out on cash flow statements. All this will become a much bigger deal when the new data centers and stuff go live. Wrote about this for TKer.co subscribers on Tuesday...
Rieder: “Monetary policy has an important role to play in supporting employment, so we foresee at least two policy rate cuts this year, and perhaps more if the labor market does move in a more negative direction.”
February 11, 2026 at 4:17 PM
Rieder: “Monetary policy has an important role to play in supporting employment, so we foresee at least two policy rate cuts this year, and perhaps more if the labor market does move in a more negative direction.”
Reposted by Sam Ro
Bondi crashes out over Epstein: "The Dow is over 50,000 dollars! I don't know why you're laughing. You're a great stock trader as I hear, Raskin. The Dow is over 50,000 right now. The S&P at almost 7,000, and the Nasdaq smashing records. That's what we should be talking about."
February 11, 2026 at 4:13 PM
“‘Ehh auditing can basically be done by AI so why should we pay for it’ is not a crazy thing for most companies to think, or to say to their auditors, but it is a crazy thing for an auditing firm to say to its auditor.”
Money Stuff's growth is fueled by ad campaigns, earned media, social virality and, above all, superior depth, breadth, and distribution compared to traditional online newsletters. www.bloomberg.com/opinion/news...
Predicting the Big Game
Also Messiah manipulation, AI ads, crypto winter, Tether KYC and AI audits.
www.bloomberg.com
February 11, 2026 at 2:10 PM
“‘Ehh auditing can basically be done by AI so why should we pay for it’ is not a crazy thing for most companies to think, or to say to their auditors, but it is a crazy thing for an auditing firm to say to its auditor.”
Reposted by Sam Ro
Struggling to make sense of Big Tech's $600 billion bet on AI? Here's a metric to watch 📋 www.tker.co/p/ai-capex-w...
Struggling to make sense of Big Tech's $600 billion bet on AI? Here's a metric to watch 📋
A crash course in depreciation and accrual accounting 🧾
www.tker.co
February 10, 2026 at 7:16 PM
Struggling to make sense of Big Tech's $600 billion bet on AI? Here's a metric to watch 📋 www.tker.co/p/ai-capex-w...
Reposted by Sam Ro
How an explosive salesman's old equation helps explain why stock market valuations are high 🧮 www.tker.co/p/dupont-dec...
How an explosive salesman's old equation helps explain why stock market valuations are high 💥
A crash course on return on capital and the DuPont decomposition of ROE 🧐
www.tker.co
February 5, 2026 at 6:55 PM
How an explosive salesman's old equation helps explain why stock market valuations are high 🧮 www.tker.co/p/dupont-dec...
💳📈"Consumer spending showed solid resilience in January, with total card spending rising 2.6% year-over-year (YoY) — the strongest pace in nearly two years..." - BofA card data institute.bankofamerica.com/economic-ins...
February 11, 2026 at 1:19 PM
💳📈"Consumer spending showed solid resilience in January, with total card spending rising 2.6% year-over-year (YoY) — the strongest pace in nearly two years..." - BofA card data institute.bankofamerica.com/economic-ins...
Struggling to make sense of Big Tech's $600 billion bet on AI? Here's a metric to watch 📋 www.tker.co/p/ai-capex-w...
Struggling to make sense of Big Tech's $600 billion bet on AI? Here's a metric to watch 📋
A crash course in depreciation and accrual accounting 🧾
www.tker.co
February 10, 2026 at 7:16 PM
Struggling to make sense of Big Tech's $600 billion bet on AI? Here's a metric to watch 📋 www.tker.co/p/ai-capex-w...
Retail sales up 0.0% in Dec.
-0.9% furniture
-0.7% clothes
-0.7% dept stores
-0.4% electronics
-0.2% cars, parts
-0.2% health, personal care
-0.1% restaurants, bars
+0.1% online
+0.1% grocery
+0.3% gas stations
+0.4% sporting, hobby, music, books
+1.2% building mats, garden
-0.9% furniture
-0.7% clothes
-0.7% dept stores
-0.4% electronics
-0.2% cars, parts
-0.2% health, personal care
-0.1% restaurants, bars
+0.1% online
+0.1% grocery
+0.3% gas stations
+0.4% sporting, hobby, music, books
+1.2% building mats, garden
February 10, 2026 at 1:34 PM
Retail sales up 0.0% in Dec.
-0.9% furniture
-0.7% clothes
-0.7% dept stores
-0.4% electronics
-0.2% cars, parts
-0.2% health, personal care
-0.1% restaurants, bars
+0.1% online
+0.1% grocery
+0.3% gas stations
+0.4% sporting, hobby, music, books
+1.2% building mats, garden
-0.9% furniture
-0.7% clothes
-0.7% dept stores
-0.4% electronics
-0.2% cars, parts
-0.2% health, personal care
-0.1% restaurants, bars
+0.1% online
+0.1% grocery
+0.3% gas stations
+0.4% sporting, hobby, music, books
+1.2% building mats, garden
Remarkable. Higher income wage growth is stronger than lower income. Before about a year ago, that was flipped. Lower income wage growth used to be very strong pre 2025. BofA data
February 10, 2026 at 12:15 PM
Remarkable. Higher income wage growth is stronger than lower income. Before about a year ago, that was flipped. Lower income wage growth used to be very strong pre 2025. BofA data
Dow constituents’ average tenure has been trending lower. @spdjindices.bsky.social
February 9, 2026 at 12:39 PM
Dow constituents’ average tenure has been trending lower. @spdjindices.bsky.social
Reposted by Sam Ro
"Sentiment surged for consumers with the largest stock portfolios, while it stagnated and remained at dismal levels for consumers without stock holdings." - UMich consumer sentiment survey www.sca.isr.umich.edu
February 6, 2026 at 5:35 PM
"Sentiment surged for consumers with the largest stock portfolios, while it stagnated and remained at dismal levels for consumers without stock holdings." - UMich consumer sentiment survey www.sca.isr.umich.edu
We're learning more about who's winning and losing in the AI revolution 🤖 www.tker.co/p/ai-tech-wi...
We're learning more about who's winning and losing in the AI revolution 🤖
Plus a charted review of the macro crosscurrents 🔀
www.tker.co
February 8, 2026 at 2:46 PM
We're learning more about who's winning and losing in the AI revolution 🤖 www.tker.co/p/ai-tech-wi...
Reposted by Sam Ro
The stock market is the economy for the top of the K.
The stock market is NOT the economy for the bottom.
The stock market is NOT the economy for the bottom.
February 7, 2026 at 4:45 PM
The stock market is the economy for the top of the K.
The stock market is NOT the economy for the bottom.
The stock market is NOT the economy for the bottom.
"Sentiment surged for consumers with the largest stock portfolios, while it stagnated and remained at dismal levels for consumers without stock holdings." - UMich consumer sentiment survey www.sca.isr.umich.edu
February 6, 2026 at 5:35 PM
"Sentiment surged for consumers with the largest stock portfolios, while it stagnated and remained at dismal levels for consumers without stock holdings." - UMich consumer sentiment survey www.sca.isr.umich.edu
"Bro Billionaires" are underperforming small caps.
BofA: "We are long Main St, short Wall St until Trump approval rating up on policy pivot to address affordability."
BofA: "We are long Main St, short Wall St until Trump approval rating up on policy pivot to address affordability."
February 6, 2026 at 2:11 PM
"Bro Billionaires" are underperforming small caps.
BofA: "We are long Main St, short Wall St until Trump approval rating up on policy pivot to address affordability."
BofA: "We are long Main St, short Wall St until Trump approval rating up on policy pivot to address affordability."
How an explosive salesman's old equation helps explain why stock market valuations are high 🧮 www.tker.co/p/dupont-dec...
How an explosive salesman's old equation helps explain why stock market valuations are high 💥
A crash course on return on capital and the DuPont decomposition of ROE 🧐
www.tker.co
February 5, 2026 at 6:55 PM
How an explosive salesman's old equation helps explain why stock market valuations are high 🧮 www.tker.co/p/dupont-dec...
🚨The new @ckaiwu.bsky.social note on AI adopters is a banger. Great nuance, not just sweeping generalizations. etfarchitect.com/wp-content/u...
February 4, 2026 at 2:42 PM
🚨The new @ckaiwu.bsky.social note on AI adopters is a banger. Great nuance, not just sweeping generalizations. etfarchitect.com/wp-content/u...
“The most striking feature in January was the breadth of the rally. Despite an array of risks around Venezuela, Iran, Greenland and Fed independence, nearly every major asset was still in positive territory. - DB
February 2, 2026 at 12:34 PM
“The most striking feature in January was the breadth of the rally. Despite an array of risks around Venezuela, Iran, Greenland and Fed independence, nearly every major asset was still in positive territory. - DB
"While many of Meeker’s boldest projections seemed wildly optimistic at the time, the vast majority proved not only directionally correct but often modest in hindsight." www.bloomberg.com/news/newslet...
February 1, 2026 at 8:13 PM
"While many of Meeker’s boldest projections seemed wildly optimistic at the time, the vast majority proved not only directionally correct but often modest in hindsight." www.bloomberg.com/news/newslet...
What comes after the bubble could be electrifying ⚡️ www.tker.co/p/ai-compare...
What comes after the bubble could be electrifying ⚡️
Plus a charted review of the macro crosscurrents 🔀
www.tker.co
February 1, 2026 at 2:15 PM
What comes after the bubble could be electrifying ⚡️ www.tker.co/p/ai-compare...