treasurehunt

I have cut and pasted the chart below. It was posted on X by Ernie Tedeschi, former head of the White House Council of Economic Advisors. Anyway, this chart maps inflation-adjusted median net wealth (assets - liabilities) versus age for Gen Z, Millennials, Boomers etc. And by this metric, Gen Z and Millennials are doing better than Boomers. Your data uses different metrics - percentage of total wealth owned by people under a certain age, wealth as a percentage of disposable income etc. Arguably these metrics are better at gauging how a generation is doing financially. I think it is accurate to say that Gen Z own less of the total pie than Boomers did at the same age, but today's pie is much bigger in real terms.

Is it?

I don't think BAC is particularly cheap now and for me over time it had become too small a position to bother with. So I sold. There was no company-specific reason for my sale.

Sold the last of my BAC. It was a very nice run from 2011 till now. Thank you, Brian Moynihan!

Added to my Prosus and Tencent positions. Only a nibble though.

Amazon's Kuiper might be a viable competitor although they are way behind schedule at the moment. Apparently, half the Kuiper constellation has to be in place by July 2026. https://spacenews.com/beta-project-kuiper-broadband-services-pushed-to-early-2025/

Well, big banks such as BAC and JPM are quite constrained when it comes to growth, I think. EWBC has a chance at growing faster than these behemoths. But the main reason I kept EWBC while lightening up on BAC and JPM is that it is not as overvalued as these two in my estimation. Defining IV as the price where I can expect a 10% annual return going forward, I have BAC valued at $36, JPM at $200 and EWBC at $105. Of course it is entirely possible that my estimate of IV is off by quite a bit. Also, take a look at past growth in book value per share for these banks (I use growth in BV per share as a proxy for growth in IV per share). Annual Book Value Per Share Growth BAC JPM EWBC Since 2013 5.11% 7.44% 11.48% Since 2018 6.12% 8.95% 10.89%

Interesting. I too bought EWBC last year after SIVB went belly up, but haven't sold any yet. I have lightened up considerably on other US banks - C, JPM, BAC, GS etc - since I have about 20% of my portfolio in this sector.

Milton now up to Category 5! I hope it weakens before landfall and spares the more populated areas in Florida.

My biggest buy in the last three months is PROSY (2% of portfolio). Second biggest is HQI (1% of portfolio).

The Economist has jumped on the solar bandwagon with both feet. They are predicting a future (some decades out) of very cheap electricity, quite the opposite of an electricity crisis. I think the articles are behind a paywall, unfortunately. https://www.economist.com/leaders/2024/06/20/the-exponential-growth-of-solar-power-will-change-the-world https://www.economist.com/interactive/essay/2024/06/20/solar-power-is-going-to-be-huge The Economist doesn't really address seasonal fluctuations or problems with long duration storage. On the other hand, solar electricity production is only 6% of total global electricity production, so there is some time to solve these issues.

Aren't you ignoring the role of batteries here? CAISO has over 10GW/40GWh of battery storage. That should help a lot with handling the deeper duck curve, right? I don't see why load shedding will be necessary. https://pv-magazine-usa.com/2024/04/30/california-batteries-dominate-evening-grid-with-10-gw-40-gwh-of-capacity/

Thanks. Lots of great information in the prospectus on the non-life insurance market in India and on Digit itself.

I don't see how it's just arithmetic, since there is no free flow of goods and labor across national boundaries and the prices of goods and services at market exchange rates vary widely across countries. Can you explain your thinking? Also, how about Canada for another counterexample, albeit not as dramatic as Japan? In the 15 years from May 8, 2009 to May 8, 2024 the Loonie has depreciated from 0.87 USD to 0.73 USD. But inflation in Canada was slightly less than in the US (39% vs 46% according to ChatGPT).

Is there good statistical evidence for this? For instance, 15 years ago one US dollar was worth about 95 Japanese yen. Today it is worth over 150. During that period, inflation in Japan was much lower than in the US. Obviously even over long periods, factors other than inflation can be very significant.