Peregrine

Close to 60% of the KOSPI are now Samsung and SK Hynix. Also this from the WSJ: https://www.wsj.com/world/asia/stock-market-ai-chips-taiwan-korea-01b7d385?mod=hp_lead_pos5

Using AI to write a white paper about AI adoption...what could go wrong https://www.ft.com/content/b3828e92-4961-4b39-84f0-c42f33be3c3f?syn-25a6b1a6=1

You'd be surprised how much of an echo chamber tech CEOs are in. Just take a look at what people on AWS or Amazon Reddit say about their managers - just blind top-down edict to deploy AI wherever possible even if it made no sense. The actual coders have been saying that force-feeding of AI into everything has been counterproductive but the message apparently doesn't get into the CEOs' heads until they see the bills and the mountain of slop created.

Jensen's pumping has become comical at this point. I wonder if it's possible for people to NOT get drunk on their own ego and hype when they're in the limelight this much?

Thanks for this. A succint description of AI's coding issues and aligned with all the data showing the proliferation of AI slop apps with 0 adoption.

I'm sure it is but I wonder if it's a glorified auto-complete and whether it'll ever be reliabily used on its own.

So what's the point of using AI to write all this code if it can't be used, needs to be reviewed and understood line by line and then debugged all over again? On top of that, you're paying ever escalating prices for tokens using the frontier models.

You should all take a look at the bulletin boards of Naver finance to take stock of the level of degeneracy in the Korean market.

All the AI labs (including probably SpaceX) now in talks with the Trump admin to use US taxpayer dollars to invest in them, presumably because private liquidity could be drying up to provide exit liquidity to insiders. Just incredible how much a bunch of these tech elites are seeking to fleece the public. Is there no shame? This might be on par with what Putin and the Russian oligarchs did following the fall of the Soviet Union.

I wonder if what ultimately deflates this bubble is all the bubbles crashing together to compete for liquidity. Two datapoints already: - Bitcoin now down 50% from the peak. Ethereum down 80% from 2024 levels. All other crypto: virtually no bid - Korea experiencing the largest single month of foreign selling ($30 billion out in May) and the largest single year of foreign net selling (~$100 billion YTD) likely because foreigners are selling out of memory for upcoming IPOs On top of this, Google is doing an $85 billion raise in advance of the 3 mega IPOs and S&P just shut off the spigots for passive flows into all of 3 IPOs, choking off the last source of exit liquidity. This may well get pretty ugly.

Head-scratching move from Berkshire.

Didn't see this topic on the front page so figured I'd create one. We've heard a lot about AI and its potential for efficiency - has anyone had any experience in using it to source investment ideas? If so, what were some of the learnings? Did it help at all in streamlining things or uncovering opportunities?

Korea and Japan are pretty similar demographically, economically and culturally. Yet, the Koreans react to stasis by margining heavily and going for broke while the Japanese keep stuffing more money under the mattress. Wonder why that is?

How are they centralizing? It's only Combs that has gotten the axe.

The numbers you posted are end of year so it's hard to get at what was the peak and trough in employee count. But yeah, I took that statement from Ajit at its face.