Matt Levine, Columnist

Buy the Truth, Sell the News

Also bond dealing, gardening leave and lottery arbitrage lawsuits.

April 10, 2025 at 3:59 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Programming note: Money Stuff will be off next week for spring break. We’ll be back April 21. In recent years, my vacations have often been occasions for Elon Musk to do weird stuff, and that is certainly a live possibility for next week. Also, though, I once took a vacation during which Lehman Brothers filed for bankruptcy. Probably nothing to worry about though.

One informal rule that I set for myself in writing this newsletter is that I try not to pay too much attention to politicians’ tax and regulatory proposals, because often they come to nothing and it’s silly to take them too seriously. I spent the last week breaking this rule for President Donald Trump’s tariffs, and look where that got me: