Lumida Wealth Management
Hyperscaler's Capex as % of OCF is projected to reach 92% in 2026. 

Capex is tricky for stock performance. 

You are essentially spending today to have a probable ROI in future. 

If market fears weaker returns, you see stocks struggle. 

That's exactly what we have seen with $MAGS in last few weeks. 

Let's discuss in today's newsletter: https://t.co/aIPxSPfj4h
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Michael Fritzell (Asian Century Stocks)
RT @MikeZaccardi: Going back to 1995, the US has never performed worse compared to international stocks YTD @augurinfinity https://t.co/CmW6UxKOnq
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Bourbon Capital
Soros Fund’s largest holding is $AMZN, and they keep adding more shares.....

They bought 1.8M shares in Q3 2025
and 133,385 shares in Q4 2025

Long $AMZN https://t.co/7g9tv6HK33

George Soros’s largest holding is $AMZN, which is unusual as the fund rarely allocates more than 8% of its total portfolio to a single position

They bought 1.8 million shares last quarter.... https://t.co/wfYyZu14fq - Bourbon Capital
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Michael Fritzell (Asian Century Stocks)
RT @RolandBakerIII: Fuyan Cave (Chinese: 福岩洞) a complex of limestone caves in Tangbei village, Lefutang town, Daoxian, Hunan province, south central China famous for the discovery of the oldest evidence for unambiguously fully modern humans now dated to 230 - 130,000 years old outside Africa. https://t.co/oTUhgPsk2P

Modern human presence in eastern Asia before 130 ka: evidence from U-series re-dating of Daoxian site https://t.co/mkmscg7LoU - PaleoAnthropology+
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The Transcript
$GM CFO humorously reflects on scrutiny of GM commentary versus prior airline role:

“I learned that the world cares a whole lot more what the CFO of General Motors says than the CFO of Delta" https://t.co/SsaV3mtypr
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The Few Bets That Matter
Saying Buffett’s success only relies on now illegal access to information is probably a big stretch.

Saying his success has nothing to do with privileged access is ridiculous.

The irrational Buffett cult continues. https://t.co/Y7kXTAO9Lr

$BRK https://t.co/QB2SFPjX0P

JUST IN: Chamath Palihapitiya makes a big claim that Warren Buffett’s insane pre 2000 returns may have benefited from access to information asymmetry not available to the public

Here's what he had to say:

"In 2000, we introduced the law called Reg FD. And what was the point of Reg FD?

It was basically that if you're a CFO, you cannot talk to an individual stock manager and tell him something that you then don't tell everybody else. Essentially inside information.

That used to be not illegal. I won't say that it was legal. I would just say that used to be not illegal.

You call your CFO buddy, he says, "hey, how you doing?"

He goes, man, "Quarter was a blockbuster."

You would go and buy the stock.

And starting in the 2000s, it became illegal. And there used to be these networks of information arbitrage that took advantage of this.

Now, this is an example of Warren Buffett's returns, pre and post Reg FD. Now, what do you see?

His returns were double the market returns when this kind of information sharing was legal. And the minute that it became illegal and you had to basically act on the same edge as everybody else, his returns went to the market return. He generated zero alpha. In fact, he probably on the margins lost a little bit.

So this is the single best investor in the world. This is what happens when you have information symmetry. So it's just meant to explain that markets when there's asymmetry. Billions and billions of dollars will be made in asymmetry.

The prediction markets today, unless they are regulated out of existence or shut down, will look like the stock market pre-Reg FD." - Triple Net Investor
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Michael Fritzell (Asian Century Stocks)
RT @tierrapartners: No idea what is what but the AI stuff is fairly main stream now. https://t.co/dgDTJ268b4
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Moon Dev
local ai model maxis are the equivalent to coupon karen

time > money
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Fiscal.ai
Amazon is now the largest company in the world by revenue, after surpassing Walmart.

1. Amazon: $717B
2. Walmart: $681B
3. Saudi Aramco: $449B
4. UnitedHealth: $448B
5. Apple: $416B

$AMZN $WMT $UNH $AAPL https://t.co/wvcZC8svwt
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Brady Long
RT @thisguyknowsai: We’re all just 1 thought away from being miserable. And 1 thought away from being happy.

That’s all it is. 1 thought.
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