Hosts Tom and Tony welcomed researcher Kai to discuss a week where the Fed's 25 basis point rate cut led to counter-intuitive market moves, with bond yields rising and dollar strengthening in the three sessions following the decision. All major indices posted gains of 1.2-2.2%, culminating in simultaneous record highs Friday - the first time all four hit new peaks together since November 2021, just two months before the major 2022 decline began. Tom noted he's currently short two of the four indices but remains positioned with bonds and yen trades that have worked in his favor. The discussion included Tom's nuanced stance on corporate ownership versus management, defending his continued TikTok usage while avoiding Tesla based on his distinction between operators and owners. Upcoming earnings include Micron Tuesday and Costco Thursday, with Tom holding positions in both but noting MU's unpredictable earnings history.