Dimitry Nakhla | Babylon Capital®
Howard Marks on Gold $GLD 💵
“People who bought gold a year ago have made a ton of money… but if you bought gold at the end of 2010, you’ve earned about a 7.7% annual return. If you bought the S&P at the same time, you’ve earned about 12.7%.
It’s not that gold is a disaster — but you shouldn’t be 𝙙𝙞𝙨𝙩𝙧𝙖𝙘𝙩𝙚𝙙 by the gains of the last month. It’s been a 𝙡𝙖𝙘𝙠𝙡𝙪𝙨𝙩𝙚𝙧 𝙞𝙣𝙫𝙚𝙨𝙩𝙢𝙚𝙣𝙩.”
Source: The Investor’s Podcast Network (episode posted ~2 weeks ago)
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Howard Marks on Gold $GLD 💵
“People who bought gold a year ago have made a ton of money… but if you bought gold at the end of 2010, you’ve earned about a 7.7% annual return. If you bought the S&P at the same time, you’ve earned about 12.7%.
It’s not that gold is a disaster — but you shouldn’t be 𝙙𝙞𝙨𝙩𝙧𝙖𝙘𝙩𝙚𝙙 by the gains of the last month. It’s been a 𝙡𝙖𝙘𝙠𝙡𝙪𝙨𝙩𝙚𝙧 𝙞𝙣𝙫𝙚𝙨𝙩𝙢𝙚𝙣𝙩.”
Source: The Investor’s Podcast Network (episode posted ~2 weeks ago)
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Offshore
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Fiscal.ai
Who will be the largest company by market cap in 2027?
Current Market Caps:
Nvidia: $4.6T
Apple: $4.1T
Google: $3.8T
Microsoft: $3.6T
Amazon: $2.5T
Meta: $1.7T
Tesla: $1.5T
$NVDA $AAPL $GOOGL $MSFT $AMZN $META $TSLA https://t.co/tZLCZPE6j8
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Who will be the largest company by market cap in 2027?
Current Market Caps:
Nvidia: $4.6T
Apple: $4.1T
Google: $3.8T
Microsoft: $3.6T
Amazon: $2.5T
Meta: $1.7T
Tesla: $1.5T
$NVDA $AAPL $GOOGL $MSFT $AMZN $META $TSLA https://t.co/tZLCZPE6j8
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App Economy Insights
Meta just bought Manus.
An AI agent business doing ~$125M ARR.
• Subscription revenue
• 147T tokens processed to date
• Distribution via FB / IG / WhatsApp
$META buys distribution + monetization in one move. https://t.co/g6SBW4tQJo
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Meta just bought Manus.
An AI agent business doing ~$125M ARR.
• Subscription revenue
• 147T tokens processed to date
• Distribution via FB / IG / WhatsApp
$META buys distribution + monetization in one move. https://t.co/g6SBW4tQJo
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EndGame Macro
https://t.co/hLznBSlmvA
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https://t.co/hLznBSlmvA
BREAKING: 🇯🇵 Japan set to record less than 670,000 births in 2025, worse than government's most pessimistic forecasts and the lowest since records began in 1899. tweet
AkhenOsiris
RT @TMTLongShort: The world is going to split into four buckets:
A) developed economies who are well positioned to leverage AI to drive productivity.
Their share of global GDP is about to explode.
This includes the U.S., China, Japan, Germany and South Korea.
B) developed economies which over-earn and over-consume relative to their potential primarily by virtue of their adjacency and inclusion in networks of legacy trade systems.
They are fucked.
This includes Spain, Greece, the UK, and France.
C) emerging economies who are geographically blessed with commodities needed to fuel the ramp of robotics.
They will see incredible benefits.
This includes Argentina, Gulf States, Brazil, Chile, and even Mexico.
D) emerging economies which benefited from labor arbitrage but aren’t geographically blessed.
They are fucked.
This includes India and much of Africa and Asia.
Wide tails but it’s an interesting matrix to play around with in your head as you read substacks like Dwarkesh’s and ponder a world of AGI and robots building more robots.
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RT @TMTLongShort: The world is going to split into four buckets:
A) developed economies who are well positioned to leverage AI to drive productivity.
Their share of global GDP is about to explode.
This includes the U.S., China, Japan, Germany and South Korea.
B) developed economies which over-earn and over-consume relative to their potential primarily by virtue of their adjacency and inclusion in networks of legacy trade systems.
They are fucked.
This includes Spain, Greece, the UK, and France.
C) emerging economies who are geographically blessed with commodities needed to fuel the ramp of robotics.
They will see incredible benefits.
This includes Argentina, Gulf States, Brazil, Chile, and even Mexico.
D) emerging economies which benefited from labor arbitrage but aren’t geographically blessed.
They are fucked.
This includes India and much of Africa and Asia.
Wide tails but it’s an interesting matrix to play around with in your head as you read substacks like Dwarkesh’s and ponder a world of AGI and robots building more robots.
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Offshore
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