RE: Odds and Ends — 20 September 2025

That SEC pivot to shrink disclosures and make it harder to sue will just push risk back onto invsetors. Cheaper in the short run maybe, but markets,, they price opacity with a premium, so cost of capital goes up. Feels like letting the smoke alarm run on low batteries < while saying the house is safer. Nice pull on that link mix, the thread really comes through.

!BBH