UK

All this is crazy, reminds me the era of 'Amazon doing this or that' all over again...

https://uk.finance.yahoo.com/news/goldman-issues-a-blunt-warning-to-beat-up-software-stock-investors-141358103.html

The black one: 600 f***ing M beauty in Tarragona:) "The 135.61 m (444.9 ft) superyacht Crescent was launched by Lürssen at their yard near Rendsburg. The yacht's exterior design is from Espen Øino (Oeino) and Zuretti Design was responsible for the interior design.[1][2] She is owned by Caymanese company Black Dragon Minerals LLS. In March 2022, she was detained by Spain as property of Rosneft CEO Igor Sechin, who is sanctioned in connection with 2022 Russian invasion of Ukraine"

Well, for what it is worth:), I still agree with Luke on fiat system vs some hard money system (not going there anytime soon), but I have bought some IB1T just recently and will see how it goes from there:)

Lots on software:

Dont worry this one is going UN way under current administration:)) https://www.reuters.com/legal/litigation/us-environmental-enforcement-by-trumps-epa-drops-record-low-2026-02-05/

Good manager would not solve MSFT risks with its software and Open AI exposure. I am not saying these ar sure thing risks, but I personally would be disappointed, if they bought MSFT, instead of adding to GOOGL.

https://nypost.com/2026/02/02/lifestyle/hospital-evacuated-after-8-inch-wwi-artillery-shell-discovered-in-patients-butt/

https://archive.is/h38rR India may be about to become one of the world’s most open economies New trade deals could make it a manufacturing powerhouse, reckons Arvind Subramanian

https://www.reuters.com/business/media-telecom/anthropic-buys-super-bowl-ads-slap-openai-selling-ads-chatgpt-2026-02-07/ https://www.bbc.com/news/articles/ce3edyx74jko

+1. Only, as much as I am terrified (and if the possible demise of the greatest business model of the last 20+ years does not scare you, then idk), I am also quite excited, especially as a 'dumb generalist':). I think all this and things we do not even think of, will create lots of opportunities for an active investor, we just need stay with our eyes open and to be as open minded as possible.

I also think, that longer term this should be competed out, so the winner longer term should be general economy via increased productivity and maybe some of AI providers, maybe some new, like Antrophic or Open AI, but also very likely usual suspects/current hyperscallers, like Google, depending on how market structure will develop, how much winner takes all it willl be and how capex intensive it eventually stays. I am also not sure about trying to pick winners for the long term in some of the current bottlenecks, like energy etc, which are commoditized, though this could work for a mid term. I think the main goal should be just not to get under this whole AI steamroller disruption with your investments, simillarly like it was with the internet.

5+ years ago I used not to do this and it was a big mistake. Averaged up FFH from 600+ CAD in 2022 to 1200+ CAD in 2024 into ~40 position (peak add was thanks to MW), trading ~10 per cent around ~30 core position since. Recently, after Gemini 3 come out, I averaged up some GOOGL, despite missing most of 2025 gains (still not that big of a position). Focusing not on price, but on valuation/fundamentals helps (PE or PBV charts is much better). Reading or listening what Druckenmiller/Soros has to say on the subject helps (basically, if price is going up, after you did your work and bought, it is likely only confirms you are right as market agrees, so risk you thesis is wrong decreases and you can add more:)). For Soros, adding to a position after a price increase isn't just momentum trading; it's a strategic move designed to capitalize on a positive feedback loop where the market’s perception of a company, expressed through its share price, becomes its reality.

+1 'Who crawled through a river of shit and came out smelling like a rose?'

'Education of value investor'

This is interesting, perhaps mistakenly, I thought the thinking always was that more expensive electricity would be good for BTC price?

Who would have thought that crypto would need a fiat bailout:)))

Nice to read! Rioja no, I mean not yet:), but definetely will visit in the future. North South, I really like Spain everywhere, maybe except for Barcelona downtown during peak season (not now), as it gets really crowdy, perhaps suits beter for younger people:). The climate is wonferful, sun is plenty (but if you like cold or snow, just go to mountains), people are very nice and I do not even want to start talking what I think of its healthcare or other public services, which in my opinion is on par with private, but at the price of public (gratis). Great country!

https://archive.is/37Hwn Why software stocks are getting pummelled Are investors overestimating the risk from AI?

This one is my favourite, from Peniche, some nice catch (some kind of an eel, two of them actualy, spearfished), probably for a new year evening:)

Not sure, but I think these are some kind of earnings (adjusted) multiples.