💬New Philochat
Sent out Central Bank of Nvidia, Part #3 this week to share updated thoughts on the AI Cycle and how it has already started to unravel. Markets still very complacent. Read the piece.
Anthropic is expected to file its S-1 asap, and we will be on standby to read it and send something out.
We published a Flash Philo on what we know about Anthropic thus far, and how we see the setup, and opined on where AI Labs go from here... 🆘
We also gave the three most important layers for compute demand going forward and called what the AI narrative is shifting to next. Read it here.
Second round of the elections in Brazil this Sunday, I expect Lula to win Bolsonaro by basis points!
Everything we had to say about the setup in Brazil in this Flash Philo.
USD/JPY still in the tight range we called out in Flash Philo on Yentervention.
No-End Dividend
The NED Index is on an absolute tear the past few weeks, just as AI names are feeling a lot of pain.. And we're here for it.
Universal Music Group
Up a modest 10% since posting already. I expect to see way more upside on this name with enough patience.
Cornerstone Pieces
To prepare for 2027, must reads are:
Your money is no longer Triple A
In other news
The internet seems to collapsing with back-to-back security vulnerabilities, governments pulling down websites and warning citizens to stockpile food and water.
This while revolutions are taking place across Europe and Saudi is fighting an existential battle with the Yemenis.
News flow seems to suggest US/Israel about to attack Iran again, with the Iranians announcing the security measures they are taking. 2027 is going to be wild.
Read our 3 Worries for 2026 in preparation for the next issue!
