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Finding Compounders
In the earliest available Berkshire Hathaway shareholder letter, Buffett states that he believes that return on equity capital is the best suited measure of managerial economic performance . https://t.co/VKyym0UkaP
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In the earliest available Berkshire Hathaway shareholder letter, Buffett states that he believes that return on equity capital is the best suited measure of managerial economic performance . https://t.co/VKyym0UkaP
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The All-In Podcast
Chamath: "Nvidia is not doing what's in the best interest of the United States." 🇺🇸🇨🇳
"I think we can all do the math. About 47% of all of NVIDIA's revenue goes to China and Chinese-related countries."
"And I think when you peel back this onion, what you will find is a whole raft of companies that were stood up to buy these Nvidia GPUs to essentially act as a waystation for China."
"And I think that is the big problem."
"Let's have a thought starter: if 47% of all of the AI capability and horsepower is being shipped to three Asian countries, where do you think the apps that require that amount of horsepower live?"
"Is there a Cursor of Bhutan that we did not know? Is there a great shopping app in Cambodia that's come out of nowhere, that's AI powered?"
"I think the answer is no."
"Every single time we have an advance in the United States, how is it that Alibaba shows up with something incredible? DeepSeek shows up with something better?"
"At every turn and at every step of AI, they are at the same rate or one step ahead."
"To be honest with you, I think the real problem that we have is that Nvidia is not doing what is in the best interest of the United States."
"You have a American company that has been working around the guidelines at every turn to try to land silicon into the hands of China."
"Late last year, they introduced this thing called the H20 that was explicitly designed for China and to be compliant with US rules at the time."
"Which again, gives these guys substantial performance."
"This is a case where (Nvidia) has plausible deniability. I sell something to a Singaporean registered company? Plausible deniability."
"What am I supposed to do? You can't expect me to audit it. I think that's what NVIDIA's answer will be to this question."
"But what is the real expectation? At a minimum, the United States should have a mechanism to understand it."
"It is implausible that if you did one or two layers of work, you would not find that most of this traffic is being used by Chinese organizations."
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Chamath: "Nvidia is not doing what's in the best interest of the United States." 🇺🇸🇨🇳
"I think we can all do the math. About 47% of all of NVIDIA's revenue goes to China and Chinese-related countries."
"And I think when you peel back this onion, what you will find is a whole raft of companies that were stood up to buy these Nvidia GPUs to essentially act as a waystation for China."
"And I think that is the big problem."
"Let's have a thought starter: if 47% of all of the AI capability and horsepower is being shipped to three Asian countries, where do you think the apps that require that amount of horsepower live?"
"Is there a Cursor of Bhutan that we did not know? Is there a great shopping app in Cambodia that's come out of nowhere, that's AI powered?"
"I think the answer is no."
"Every single time we have an advance in the United States, how is it that Alibaba shows up with something incredible? DeepSeek shows up with something better?"
"At every turn and at every step of AI, they are at the same rate or one step ahead."
"To be honest with you, I think the real problem that we have is that Nvidia is not doing what is in the best interest of the United States."
"You have a American company that has been working around the guidelines at every turn to try to land silicon into the hands of China."
"Late last year, they introduced this thing called the H20 that was explicitly designed for China and to be compliant with US rules at the time."
"Which again, gives these guys substantial performance."
"This is a case where (Nvidia) has plausible deniability. I sell something to a Singaporean registered company? Plausible deniability."
"What am I supposed to do? You can't expect me to audit it. I think that's what NVIDIA's answer will be to this question."
"But what is the real expectation? At a minimum, the United States should have a mechanism to understand it."
"It is implausible that if you did one or two layers of work, you would not find that most of this traffic is being used by Chinese organizations."
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The Kobeissi Letter
BREAKING: China’s central bank increased its gold holdings by 5 tonnes in March, posting their 5th consecutive monthly purchase.
This brings total China’s gold reserves to a record 2,292 tonnes.
Chinese gold holdings now reflect 6.5% of its total official reserve assets.
According to Goldman Sachs, China actually purchased a whopping 50 tonnes of gold in February, or 10 times more than officially reported.
Over the last 3 years, China's purchases of gold on the London OTC market have significantly surpassed officially reported numbers.
China is accumulating gold at a rapid pace.
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BREAKING: China’s central bank increased its gold holdings by 5 tonnes in March, posting their 5th consecutive monthly purchase.
This brings total China’s gold reserves to a record 2,292 tonnes.
Chinese gold holdings now reflect 6.5% of its total official reserve assets.
According to Goldman Sachs, China actually purchased a whopping 50 tonnes of gold in February, or 10 times more than officially reported.
Over the last 3 years, China's purchases of gold on the London OTC market have significantly surpassed officially reported numbers.
China is accumulating gold at a rapid pace.
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Finding Compounders
RT @gainify_io: Are Regional & Diversified Banks the most overlooked dividend plays out there?
✅ 10Y dividend growth of 10%+
✅ Forward dividend yields >3%
✅ Payout ratios <50%
$rf $usb $cfg $hban $fitb $pnc $c $bac $jpm https://t.co/xh81m7jivn
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RT @gainify_io: Are Regional & Diversified Banks the most overlooked dividend plays out there?
✅ 10Y dividend growth of 10%+
✅ Forward dividend yields >3%
✅ Payout ratios <50%
$rf $usb $cfg $hban $fitb $pnc $c $bac $jpm https://t.co/xh81m7jivn
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The Kobeissi Letter
It’s been a quiet 3-day weekend on the tariff front:
Heading into the weekend, markets were expecting more “deals” or deal progress to be announced.
With the S&P 500 nearly 10% above its recent low, markets have already priced-in a sizable portion of tariffs dropping off.
This has resulted in a “no news is bad news” backdrop for equities.
Meanwhile, we’ve yet to hear of any material trade developments since Thursday with futures opening in less than 4 hours.
All while we are now 11 days into the 90-day reciprocal tariff pause with earnings season in full swing.
All signs point to more volatility this week.
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It’s been a quiet 3-day weekend on the tariff front:
Heading into the weekend, markets were expecting more “deals” or deal progress to be announced.
With the S&P 500 nearly 10% above its recent low, markets have already priced-in a sizable portion of tariffs dropping off.
This has resulted in a “no news is bad news” backdrop for equities.
Meanwhile, we’ve yet to hear of any material trade developments since Thursday with futures opening in less than 4 hours.
All while we are now 11 days into the 90-day reciprocal tariff pause with earnings season in full swing.
All signs point to more volatility this week.
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Finding Compounders
RT @gainify_io: With a record $330B+ cash pile, what’s your boldest prediction for Berkshire’s next big move in Q1 2025?
We’re ~30 days from Buffett opening the books.
As of Q4 2024, top 10 holdings:
$AAPL, $AXP, $BAC, $KO, $CVX, $OXY, $MCO, $KHC, $CB, $DVA https://t.co/ClL7wKeWsk
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RT @gainify_io: With a record $330B+ cash pile, what’s your boldest prediction for Berkshire’s next big move in Q1 2025?
We’re ~30 days from Buffett opening the books.
As of Q4 2024, top 10 holdings:
$AAPL, $AXP, $BAC, $KO, $CVX, $OXY, $MCO, $KHC, $CB, $DVA https://t.co/ClL7wKeWsk
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Finding Compounders
How Warren and Charlie would invest a small sum of money https://t.co/WDQTa6iUGq
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How Warren and Charlie would invest a small sum of money https://t.co/WDQTa6iUGq
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The Kobeissi Letter
BREAKING : President Trump publishes a “non-tariff cheating” list: https://t.co/SawSakTlXD
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BREAKING : President Trump publishes a “non-tariff cheating” list: https://t.co/SawSakTlXD
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The Kobeissi Letter
The Kobeissi Letter for the week of April 21st has been published and may be viewed through the link below:
https://t.co/6TDuawjZAN
The Chart of the Week for the week of April 21st has been published. View or sign up for FREE through the link below:
https://t.co/jCCx3iSLbJ
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The Kobeissi Letter for the week of April 21st has been published and may be viewed through the link below:
https://t.co/6TDuawjZAN
The Chart of the Week for the week of April 21st has been published. View or sign up for FREE through the link below:
https://t.co/jCCx3iSLbJ
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The Kobeissi Letter
The 3-day Easter weekend concludes with:
1. No trade deals have been announced
2. Trump publishes "non-tariff cheating" list
3. Trump says those who criticize tariffs are "bad at business"
4. 79 days remaining in the "reciprocal tariff" pause
Where are the trade deals the market priced-in last week?
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The 3-day Easter weekend concludes with:
1. No trade deals have been announced
2. Trump publishes "non-tariff cheating" list
3. Trump says those who criticize tariffs are "bad at business"
4. 79 days remaining in the "reciprocal tariff" pause
Where are the trade deals the market priced-in last week?
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