CEO | 1.2 Capital | 1.2 Labs I'm an academic turned hedge fund manager. I still do research too.
Binghamton, NY
Joined December 2010
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L. Sebastian Purcell, PhD retweeted
WE ARE TESTING AI FINANCIAL ADVISORS.
Our CEO @ramahluwalia recently described what Lumida is seeing in testing, and it concerns a part of the advisory relationship most people assume requires a person.
According to Ram, the firm is testing agents that act like financial advisors. They run discovery on tax and on estate planning. They come with a video experience, so a client logs into a Zoom call and talks to the agent directly.
His assessment of how they perform on discovery is direct. The agents are better than humans at that specific task, because their context base is better. They pull data off the web before the conversation starts. They have done the Google search, the LinkedIn review, the profiling. According to Ram, they know who you are before you show up.
That is the advantage. A human advisor walks into a first meeting with whatever preparation time allowed. An agent arrives having read everything publicly available.
According to Ram, this is one of those tipping points where the capability is good enough and accelerating, and in a number of elements it is already better.
@RealVision @lspurcell
L. Sebastian Purcell, PhD retweeted
Is AI still the trade of the decade or has the cycle topped?
@lspurcell, Max Gokhman (of @FranklnTempletn) and @ramahluwalia will discuss it inside Real Vision in 30 minutes.
Last session of Day 1, don’t miss it: app.realvision.com/video/the…
How much of your portfolio is in AI?
On Oct 16, let the experts guide you on positioning for the buildout.
@lspurcell of 1.2 Capital is hosting a workshop with Max Gokhman of Franklin Templeton and @ramahluwalia of Lumida on “The AI Trade”.
Sign up to Real Vision for free to get access to this workshop.
You’ll also get lessons from finance legends in your inbox, your own AI Trade Agent, and entry to the Real Vision Trading League, with up to $100K in prizes.
L. Sebastian Purcell, PhD retweeted
Last one, 2:30pm ET: is the AI trade a bubble?
@lspurcell of 1.2 Capital hosts, with Max Gokhman of Franklin Templeton and @ramahluwalia of Lumida.
Bubble or not, they get to how you trade AI stocks either way.
L. Sebastian Purcell, PhD retweeted
An American president is talking about Los Angeles and San Diego being “taken out.”
Where the hell is Congress?
This is dangerous. The time to stand up is NOW.
L. Sebastian Purcell, PhD retweeted
Wow big
BlackRock is taking model portfolios onchain.
The $13T asset manager has built three portfolios — high-income, diversified growth and high-growth — that Ondo Finance will tokenize, giving non-U.S. investors 24/7 access via crypto wallets.
The portfolios hold mixes of stock, bond and bitcoin ETFs, with Ondo tokens tracking each strategy.
It’s the first time BlackRock has designed portfolios specifically to be tokenized by another firm.
L. Sebastian Purcell, PhD retweeted
🚨NEWS: Senate Republicans have released new Clarity Act text featuring a revised ethics proposal agreed to by President Trump.
The text also contains changes to the sections on the Blockchain Regulatory Certainty Act (BRCA), stablecoin yield, and the so-called “Ag title.”
Republicans are calling it their “last, best and final” offer to Democrats ahead of Tuesday’s cloture vote.
Some high-level details.👇🏼
On BRCA: The provision has been narrowed to the Bank Secrecy Act and civil enforcement. Specific language extending its protections to criminal cases, including prosecutions under Section 1960, has been removed.
On ethics: Trump has agreed to what a GOP aide describes as “80%” of the Tillis-Gallego ethics proposal including to either divest “substantial” crypto-related financial interests or place them in a blind trust. It would also allow a role for state attorneys general to enforce ethics provisions, something which the White House had previously balked at.
On yield: Added “circuit breaker” language (floated by Tillis in July) that would effectively act as a backstop by allowing federal regulators to intervene if there was evidence of widespread deposit flight from community banks to stablecoins. The federal regulator that will be the arbiter of this: Treasury Secretary Scott Bessent.
On Ag: The updated text adds tighter guardrails around vertical integration, including affiliate trading and conflicts of interest involving digital commodity exchanges, brokers and dealers. It also clarifies that state consumer protection laws still apply and that developer protections do not create exemptions from derivatives laws or impact prediction markets.
More to come in the @CryptoAmerica_ newsletter tomorrow AM.
L. Sebastian Purcell, PhD retweeted
When I heard about Senator Graham’s death last night, the first thing I thought about was not all the things he said and did in service of Donald Trump. I thought of the time before Donald Trump when he was a brother to Senator John McCain.
A time when senators from different parties could fight about politics and still be friends. A time when a conservative Republican from South Carolina could say of my father: “If you can’t admire Joe Biden as a person, you’ve got a problem. He’s the nicest person I’ve ever met in politics. As good a man as God ever created.”
That is the Senator Graham I will remember today. Not because I have forgotten what came after. Because in that memory there is hope. Hope for a country where brothers can fight like hell over policy and still share a meal, and a laugh, and the loss of the people they love.
I will choose to remember the time before Trump. Because I believe in an America after Trump.
L. Sebastian Purcell, PhD retweeted
Dennis Ritchie created C in the early 1970s without Google, Stack Overflow, GitHub, or any AI ( Claude, Cursor, Codex) assistant.
- No VC funding.
- No viral launch.
- No TED talk.
- Just two engineers at Bell Labs. A terminal. And a problem to solve.
He built a language that fit in kilobytes.
50 years later, it runs everything.
Linux kernel. Windows. macOS.
Every iPhone. Every Android.
NASA’s deep space probes.
The International Space Station.
> Python borrowed from it.
> Java borrowed from it.
> JavaScript borrowed from it.
If you have ever written a single line of code in any language, you did it in Dennis Ritchie’s shadow.
He died in 2011.
The same week as Steve Jobs.
Jobs got the front pages.
Ritchie got silence.
This Legend deserves to be celebrated.
L. Sebastian Purcell, PhD retweeted
The EU is going ahead with a digital euro CBDC - targeting 2029.
The ECB signed the technical standards contracts this week & if parliament approves it this summer, the path to legal tender is clear.
European banks oppose it. Citizens oppose it.
But the bureaucrats love it.
L. Sebastian Purcell, PhD retweeted
In the cathedral of the chain, the prophecy was always clear. Through every cycle, only one signal remained untouched by time. $WOLF, the OG on ETH. The frog looked up and finally understood, the light never left, only the believers stayed. The pack was always meant to return. 🐺✨
L. Sebastian Purcell, PhD retweeted
📈 US economy is booming—GDP growth, AI investment, and strong consumers are driving record highs! But what does it mean? @lspurcell and @ramahluwalia and @_ChrisRhine and @jdorman81.
L. Sebastian Purcell, PhD retweeted
🔒 Can we trust what we see online anymore...and make money?
@lspurcell and @ramahluwalia and @_ChrisRhine and @jdorman81 on Real Vision.
L. Sebastian Purcell, PhD retweeted
BREAKING: Bitcoin falls -$2,000 in minutes as markets react to the US-EU trade war returning.
L. Sebastian Purcell, PhD retweeted
DHS deleted this one because:
-The family was driving home and got blocked.
-ICE deployed flashbangs and tear gas INSIDE the car.
-The 6-month old child stopped breathing and had to be rushed to hospital.
DHS did NO investigation & rushed to lie to defend the officers.
L. Sebastian Purcell, PhD retweeted
Damn you won't see this in media
Philadelphia Sheriff:
“No law enforcement officer may wear a mask. We will arrest those who wear masks to hide their identity.
If you come to this city and commit a crime, the criminal in the White House cannot keep you from going to prison.”
L. Sebastian Purcell, PhD retweeted
Holy shit.
Police just arrested a woman for protesting and saying, “This isn’t just a foreign issue, it’s our tax dollars being used to commit war crimes,” in reference to Venezuela.
If that speech is enough to put you in handcuffs, then the problem isn’t public safety.
It’s dissent.
The First Amendment doesn’t die all at once.
It gets strangled in moments like this.