Spekulatius

Yep everything above. I have 3 outlets in my house that are reversed, the rest has normal orientation. I don’t think it’s a code thing.

American Homebuilding craftsmanship in one picture:

My guess is that many stop taking them, because they reach their weight loss goal. They may start taking them again if their weight bounced back.

Morningstars wide moat are pretty debatable. Try assign a wide moat to many Pharmaceutical stocks despite the fact that the moat there have greatly diminished since the focus switched to biological and they outsourced R&D to biotechs and upstarts.

Orwell definitely is having a Renaissance lately and not in a good way. I think 1984 is probably the most important book of the 20th century. Everyone in my generation read this book in school. We also discussed it in history class pertaining to then current events. Trump is a master in applying the doublethink concept imo.

Selling a bit of HKHHY (Heineken Holding )

Why nobody challenged Trump false statements? The "Big Lie" Technique: The "big lie" propaganda technique, often associated with Goebbels, involves repeatedly stating a falsehood, even a blatant lie, with such intensity and persistence that people eventually come to believe it Thats why fact checking itself is evil also. Why do people believe lies? Because they want to and they re- inforce their existing beliefs. Critical thinking is hard work for the brain and people tend to take shortcuts to avoid it. Or like @dealraker pointed out, some people know that Trump lies but think it doesn’t matter because he will do the “right things” presumably. Here is the thing about pathological liers, they are almost never just liers, they do worse things than lying. We have a saying in Germany that “Wer Lügt, der stiehlt”, which means that “Liers will steal” (from you). Of course you can say that all politicians will do this and it’s true, but there is line between propaganda and blatantly lying over and over. IMO, we are living in a post truth world now, where you can crate your own truth island in social media and probably get millions or even hundred millions to believe almost anything (5G chip implants anyone .) What a world to be alive.

Fascinating background story on how the vapes as an industry came to be: https://www.bloomberg.com/news/features/2025-03-04/top-vapes-trace-back-to-a-chinese-e-cigarette-billionaire?utm_campaign=bw&utm_medium=distro&utm_source=yahooUS https://archive.ph/nXxXD

Ukraine won’t exist in 3 month if Trump & Putin peace plans succeeds . From what we know, Trump has not pushed back on any Putin’s maximalist demands and those two are now close to each other. Putin’s maximalist demands means no Ukraine.

Ukraine won’t exist in 3 month if Trump & Putin peace plans succeeds . From what we know, Trump has not pushed back on any Putin’s maximalist demands and those two are now close to each other. Putin’s maximalist demands means no Ukraine.

Any recession will dramatically decrease tax income and increase the deficit. I think it’s likely that the deficit this year will be higher than last year.

It’s more than Elon just insulting the Polish foreign minister. Starlink is an obvious security risk for any country that runs critical infrastructure on it, much more for military purpose,. I hope that Meloni cancels the deal - she is no dummy. i guess any country that intends to use Starlink for critical communications will have similar thoughts and consider alternatives.

Elon is pretty full of himself. He is also wrong about no alternatives to Starlink. Eutelsat is one and it is being used in Ukraine.The 50M in cost matches my estimate for the 40k terminals that Ukraine is operating. Those are fully paid for, so he is lying too in addition to being arrogant.

This is why buying very small business is hard: Some of the answers are cringeworthy.

Also a mistake, but let’s not forget - this is a symbolical red button. This is not even in the same Galaxy compared to what Trump is doing with Russia now.

I do not think the Ukraine for Trump is about economics, it’s about his strategic vision for the world (Ukraine has no place in his view). Also Trump politics is always personal. He clearly has soft spot for Putin and that was obvious in his first presidency( remember when he said he trusted Putin’s word more than the CIA- his own intelligence agency). And hi saying that “we have been through hard times together etc” more recently. Zelenskyy is on the hate list because he failed to give him dirt on Biden and other reasons. Trump seeks revenge amongst one as well as not catering to his narcist personality enough. You can see this personal aspect also on other instances where he clearly seem to deal much better with Sheinbaum than with Trudeau. Back to Starlink, the issue isn’t that Starlink is not paid for - the RU or Poland can easily do this. The lady from Eutel said that Ukraine runs around 40k Starlink terminals for the military , so if you run the numbers on 100/Euro month then it’s less than 50M Euro / year (Ukraine has about 4K Eutelsat terminals ). Even if you double the subscription cost, it’s an immaterial expense. The issue is that Trump/Elon can easily turn these terminal off, paid or not. This has happened before when Elon turn off access over the Black Sea for Ukraine when he heard they were used for see based drones to hit Russian ships (WW3 is coming ). So for military infrastructure in Europe, Starlink is now questionable and that’s why the Europeans now try to replace this with Eutelsat as quick as possible. This is just one of the many things where the dependency on US is now in question. For example the Russian defense minister recently stained that they bought Himars but didn’t get launch codes. they also now openly debate if F35 fighter planes are of any use because they run on an cloud connected to the US, so what if Poland decides to use them in some form or fashion related to Ukraine and the US turns them off. Europe need to get on its own feet in defense as quick as possible and they know this but there are still some holdouts clinging on pre Trump thinking.

Yes, the slightest whiff or recession and the spreads are going up significantly. High grade bonds are not a great value right not. I would just stick with treasuries.

Eutelsat working to replace Starlink In Ukraine. IMO Starlink is done in Europe since they can’t rely on it when it really counts.

Pay for protection sound to me like….

Added a bit of ITM.MI (Italmobiliare). I also added to ACVA (wholesale car auction).

There is literally zero trade with Russia at this point so what are tariffs going to do? 10% or 100% or 1000% of zero are still zero. Its not the first time Trump bring up tariffs with Russia - what a joke. Putin won’t give a damn, that’s for sure.

The stock made a nice move due to the German stimulus , so I wanted to lock in some gains.

Well when China gets the moral high ground, it’s not because they have risen, It’s because somebody else has sunk.

Bessent can’t do much. He is just the glorified clerk balancing the check book for his boss.

Trump is not all bark. He has grander plans this time.