Simon Belanger

Co-host of the Canadian Investor Podcast🎙

[Simon Belanger @Fiat_iceberg]

https://t.co/RcCMQvmc7S

[Simon Belanger @Fiat_iceberg]

Bond Yields, Oil, Real Estate https://t.co/o8Omu4u0aH via @YouTube

[Simon Belanger @Fiat_iceberg]

💯

On a few other occasions on that call

[Ernest Wong @ErnestWongBWM]

Part of the issue for market perception of hyperscaler capex is that executives continue to dodge ROIC questions from analysts.

For e.g. this was a non-answer from Sundar regarding a very direct question about ROIC from an analyst

[Simon Belanger @Fiat_iceberg]

Good visual of how oil shipments are impacted by both straits in the middle east

[Simon Belanger @Fiat_iceberg]

Alphabet CapEX Guidance for Full Year 2026

Q4 2025: $175B ~ $185B
Q1 2026: $180B ~ $190B
Q2 2026: $195B ~ $205B

$GOOG

[Simon Belanger @Fiat_iceberg]

$GOOG is down on strong top line results and massive cloud revenue increase

It's pretty simple why to me
- AI is becoming commoditized
- CapEX spend is now exceeding cash flow
- Dodge several questions on expected AI ROIC during the call

[Simon Belanger @Fiat_iceberg]

SpaceX now down 50% from it's ATH

It's also down 16% from its IPO price

To make things worse, shares will start unlocking in a few weeks, when they release Q2 earnings.

Be careful out there.

$SPCX

[Simon Belanger @Fiat_iceberg]

$GOOG is down on strong top line results and massive cloud revenue increase

It's pretty simple why to me
- AI is becoming commoditized
- CapEX spend is now exceeding cash flow
- Dodge several questions on expected AI ROIC during the call

[Simon Belanger @Fiat_iceberg]

Who has untapped energy sources is another question I'd ask

[Daniel Foch @danielfoch]

Data centers are projected to consume 20% of U.S. electricity by 2035.

Start asking:
Who owns the land?
Who has the grid connection?
Who has the transmission capacity?
Who can actually get power permits?

Forget asking who will build the best AI model. AI is becoming one of the biggest real estate stories of the decade:

[Simon Belanger @Fiat_iceberg]

@FXLearner99 The article is not as bearish as the title would imply and to be fair he does make some valid points.

Bubble is a strong word, I'd personally use overvalued.

[Simon Belanger @Fiat_iceberg]

Is David Rosenberg Right?

https://t.co/cSKr1rNKtl

$TD $RY $CM $NA.TO $BMO $BNS

[Simon Belanger @Fiat_iceberg]

https://t.co/h9XWKindca

@StockTrades_CA @cdn_investing

[Simon Belanger @Fiat_iceberg]

Love it 🤣

Moose MAG 7 also has a nice ring to it

[Demosthenes 🇨🇦 @DemosthenesCAD]

@Fiat_iceberg Hard to argue against that graph. Though, these banks do hold a nation by the balls. Maple MAG 7.

[Simon Belanger @Fiat_iceberg]

This is the single most alarming item in the June CPI release.

It's not a streak you want see ...

[Daniel Foch @danielfoch]

Canada CPI inflation drops to 2.8% from 3.2%

https://t.co/PLu5tjbL7r

[Simon Belanger @Fiat_iceberg]

This chart is amazing to show how much of a tailwind long term bond yields were for bond investors for decades.

And the trend reversing in the past 6 years.

July 2002 - July 2020 : 285%
July 2020 - July 2026 : -39%
July 2020 - July 2026 : 19% (T-Bills)

@danielfoch
$TLT

[Simon Belanger @Fiat_iceberg]

Anyone surprised by the dividend cut should just look at this chart

$BRE.NE

[Daniel Foch @danielfoch]

This Royal LePage stock is a sight to behold ($BRE.NE /Bridgemarq Real Estate Services)

[Simon Belanger @Fiat_iceberg]

From our live yesterday

@danielfoch @cdn_investing #AI

[Daniel Foch @danielfoch]

https://t.co/P5yB0Vn82N

[Daniel Foch @danielfoch]

Royal Lepage stock down 52% today