Venture: Update
The curious thing about the latest rally is how the market has been so strong despite having such weak breadth. This week, we are reducing some risk.
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Animal Spirits
Our next company dominates a market segment that has been with us for millennia and will remain a major feature of human life forever.
Venture Portfolio Update
Today, I offer a short update on a portfolio holding.
Bitcoin’s Quantum Threat, Anti-Bubble, or Energy Costs?
The past week has been tough, with BTC down 18% since the May peak. In this update, I will explore some of the reasons.
Where There’s a Bubble, There’s an Anti-Bubble
For one group of stocks to surge exponentially, capital must come from elsewhere. This we call the anti-bubble.
BOLD
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The AI Boom Leads Bitcoin and Gold
Equities have broken away from Bitcoin and Gold over the past fortnight, driven by technology hardware linked to the AI boom, which is sucking capital away from the rest of the market.