Author of Broken Money & The Stolguard Incident. Investor with a blended engineering/finance background. GP @egodeathcapital. Director at Bakkt & @Swan.
My June public newsletter is now available:
lynalden.com/june-2026-news…
The issue focuses on defining and planning for the more multipolar and volatile world we have moved into.
Someone dug this old gem up, so I checked the resulting outcome, 6+ years later.
The moral of the story is don't buy Clorox for 30x earnings and don't lend money to the government for a 0.6% yield.
If you do, you're gonna have a bad time.
Clorox $CLX trades at nearly 30 times earnings and grows at a low single-digit growth rate per year. Dividend yield is 2.2%.
Question: Would you rather buy and hold that for the next ten years, or a 10-year Treasury note yielding 0.6%?
It’s near a sentiment bottom, imo.
I think they have the tools to get it back up. Of course the timing partially depends on bitcoin price.
Would’ve liked to see bigger reserves for moments like this, but alas.
SCOOP: Treasury Secretary @SecScottBessent will do whatever it takes to "put the fear of God" into the bond vigilantes, shorting the long end of the curve in an attempt to drive the 10 year yield to 5%, Wall Street executives with direct knowledge of his thinking say. That would