⁠The Kobeissi Letter
BREAKING: President Trump says he “couldn’t care less” if automakers raise car prices in response to his 25% tariff, per Bloomberg. https://t.co/zCpPc51Vm3
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⁠The Kobeissi Letter
Institutional capital is pouring into gold:

In a recent Bank of America survey, 58% of fund managers said gold performs best in a trade war.

This compares to just 9% for 30-year Treasury Bonds and 3% for Bitcoin.

Throw in the US deficit spending crisis and gold quickly becomes the only global safe haven asset.

It's truly a historic time in the market.

The modern day gold rush:

Gold prices are now up +70% in 16 months with a new record market cap of $20.75 trillion.

In fact, gold is worth $1.25 trillion MORE than the COMBINED value of the remaining top 10 most valuable assets.

What is gold telling us?

(a thread) https://t.co/JcEgjnWpgL - The Kobeissi Letter
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AkhenOsiris
Tariff State of the Union

Negotiate First:

- India
- Australia
- Brazil

Retaliate First:

- Canada
- EU
- China
- Mexico

Need to Think:

- South Korea
- Japan

All roads lead to negotiation eventually, even Canadians are talking with US, but just noting the kneejerk reactions.
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⁠Investing visuals
If you're interested in robotics, you should know Intuitive Surgical $ISRG.

Five visuals about this high quality business👇🧵 https://t.co/YbP40fgm6m
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⁠The Kobeissi Letter
KEY EVENTS THIS WEEK:

1. ISM Manufacturing PMI data - Tuesday

2. JOLTS Job Openings Data - Tuesday

3. President Trump's "Liberation Day" - Wednesday

4. ADP Nonfarm Employment data - Thursday

5. March Jobs Report - Friday

6. Fed Chair Powell Speaks - Friday

We are expecting the most volatile week of 2025 so far.
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⁠Finding Compounders
One should take note of customers bargaining power when analyzing a business

Source : Good Stocks Cheap( https://t.co/mp55X8xaWx) https://t.co/uO2c2Qiei6
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⁠The Kobeissi Letter
BREAKING: President Trump’s trade advisor says auto tariffs will raise $100 billion per year, per Fox News.

The Trump Administration believes tariffs will raise a total of $600 billion per year.
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⁠Investing visuals
A little piece of advice. https://t.co/cbDDzgXFXi
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⁠The Kobeissi Letter
BREAKING: President Trump threatens “bombing” Iran and imposing secondary tariffs if they do not make a nuclear program deal with the U.S.

He also threatens 25%-50% tariffs on Russian oil if a deal is not made to end the Ukraine war.
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⁠The All-In Podcast
The AI Cold War: USA🇺🇸 vs China🇨🇳

On E221, the besties discussed how US efforts to impede China’s AI progress by restricting GPU exports are producing unintended consequences.

@chamath:

"The US government is really trying to make sure that these next-gen GPUs don't go directly to China, but also don't go to countries that could then redirect them into China."

@GavinSBaker:

" We're putting enough friction into the system that it does theoretically give America an advantage at the cost of creating tremendous incentives  for China to develop their own semiconductor ecosystem and ... you know, necessity is the mother of innovation."

" These export controls are creating an immense incentive for China to be really algorithmically innovative."

"And you saw that with DeepSeek where there were some real algorithmic innovations."

@Jason:

" Said another way, if we squeeze too tightly on letting them buy the Nvidia chips, they might make a better Nvidia."

Chamath:

"They're trying now."

Jason:

"What are the chances they succeed in your mind, Gavin?"

Gavin:

" In the next five years, I think zero. I think it's really, really hard."

"But over ten years, who knows?"
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