Special Situationship

When the stars align with distribution and scale.

Saudi is opening up

Vision 2023 meets Cost of Capital

Venezuela is Taiwan

Trump's gambit feels like great risk/reward but a risky *all in*.

Currency Debasement for Dummies

The Silver Trade. Don't be so linear.

3 Worries for 2026 (and historical analogies)

The Bill is Coming Due.

Wake Up Call (packed with memes)

The ROI is no longer "in the valuations..."

Making sense of TPUs, Debasement and Takaichi

End of Year Mega Breakout by Philo - #Issue 18

What the TPU is going on?

How Custom Silicon is turning things sideways, and then sideways again.

Stock 8/25

Another high-quality dividend-paying business franchise for the NED.

Crypto Winter, just in time.

This is an existential crisis for the space.

Bom Dia, Philo! 🇧🇷

The case for a post-Lula Brazil. What's the trade?

The Current state of AI

Short thoughts on the AI Cycle - and a pivot towards the Power Cycle ☢️