Felix

CFA, part time investor, focused on Romania market; not investment advice; full time strategy manager for a Fortune500 company

[Felix @FelixDocuz]

@MebFaber @GoldmanSachs The link does not work, can we have the source link? Thanks!

[Felix @FelixDocuz]

@blondesnmoney Congratulations!!

[Felix @FelixDocuz]

@nicotinecap It can also impact existing nicotine users. Currently there is no awareness on this. The market is right to worry. The extent of this worry remains to be seen.

[Felix @FelixDocuz]

@nicotinecap Why?

[Felix @FelixDocuz]

@RealSimpleAriel https://t.co/zp62xIXpHf

[Michael Dell 🇺🇸 @MichaelDell]

Focus on what you can control. Build something, anything. A product, yourself, a family, your community, a team, a company or organization, relationships. Or help someone else do it. Don't complain or be a victim, ever. #PlayNiceButWin

[Felix @FelixDocuz]

@blondesnmoney Holding the Romanian BET Index, almost doubling in the last year. + 20% ytd.

[Netflix @netflix]

“I hope I've demonstrated that you can face anything, you can face the end of your days, you can face hell with dignity. Fight, girls, and hold your heads high. Billie and Georgia, you are my heart, you are my everything. Goodnight. I love you.

Eric Dane leaves his daughters — and the world — with one final message in Famous Last Words.

[Felix @FelixDocuz]

@blondesnmoney Congrats!

[Felix @FelixDocuz]

@elonmusk She is seen turning the wheel with a clear intention to leave. Also look at car”s direction, totally different versus where the agent was. Glad not to live in America.

[Felix @FelixDocuz]

@buccocapital But then again, the price you pay today influences the return you get. And the world is bigger than S&P500

[Felix @FelixDocuz]

@blondesnmoney Congrats, man!

[Investment Wisdom @InvestingCanons]

“You don’t need 20 right decisions to get very rich. 4 or 5 will probably do it…” “It’s a terrible mistake to think you have to have an opinion on everything.”

— Warren Buffett

[Felix @FelixDocuz]

@blondesnmoney A bonus day for living 😎

[Bryan Lawrence @brl11]

Nvidia is the world’s most valuable company, generating $120 billion of annualized net income selling highly engineered chips and software that have required decades to perfect.

So why have they felt it necessary to issue a rebuttal to short sellers like Michael Burry?

Three reasons:

1. It is difficult to sustain 75% gross margins when some of your biggest customers are unprofitable, and your chips are 80% of their costs.

2. Those unprofitable customers are dependent on investors to fund their losses. Investors can move in herds, and their confidence about AI has been made fragile by OpenAI’s "manifestly ridiculous" $1.4 trillion of compute commitments.

3. More broadly, Nvidia is unsure where value will land in the AI business. Anyone using the latest models knows how they can lower the cost of legal advice or reading an MRI. Our own work finds that reading an MRI costs $150 for a human doctor compared to $0.15 for an AI model. This 99.9% spread is the biggest we have ever seen in business. But who gets it? The chip maker? The model maker? An application maker? The doctor? The patient?

Nvidia’s real competitor is Google, which generates $140 billion of annualized net income and owns important assets across the full stack of AI: TPU chips; Gemini models; data from 3.5 billion humans using its services; and distribution across multiple surfaces like Search, YouTube and Cloud.

Nvidia’s strategy is to support its customers’ efforts to raise investor capital until their businesses capture enough of that 99.9% spread to be self-sustaining, and to hope that its own 75% gross margins are sustainable. A loss of investor confidence impairs this strategy, which why the rebuttal was issued.

Google’s strategy is to drive costs down across the full stack, to protect Search's advertising business and to generate profits wherever they end up landing. Its founders have said they are willing to bankrupt the company rather than lose in AI.

Investors chasing winner-take-all outcomes across the AI stack may be disappointed. Based on how unit economics look today, much of AI looks like a commodity business in which low cost wins.

Nvidia’s and Google’s strategies are in obvious conflict. Some investors will make a lot of money and others will lose a lot. More will be revealed as this unfolds. Pass the popcorn.

[Felix @FelixDocuz]

@Greenbackd What are the allocations in your portfolio? 100% cash, bonds? Thanks

[Felix @FelixDocuz]

@nicotinecap Why there are none?

[Felix @FelixDocuz]

@aakashgupta Minus the wealth of other businesses destroyed by amazon. Difficult math

[Felix @FelixDocuz]

@NicusorDanRO De asta avem nevoie! De consecventa si credibilitate! Stirea asta a trecut rapid prin mass media. Este o mare reusita, chiar daca pentru multi e abstract. Intoarcerea la perspectiva stabila e urmatoarea borna!