Wealth Rituals

Decoding finance 💰 | 📈 Investing insights | Helping you make sense of money | FAANG Software Engineer 🖥️

Not financial advice, do your own research

[Wealth Rituals @WealthRituals]

Warren Buffett is sitting on $347B in cash & T-Bills—a record pile.

Why he’s obsessed with T-Bills...

Here is why he is sitting on one of the largest cash piles in history on purpose.

[Wealth Rituals @WealthRituals]

@sbmbankindia @sbmbankindia , It's been over two months since the request was raised, and I haven't received any updates since last week,

Request: SR117631

[Wealth Rituals @WealthRituals]

Hey @sbmbankindia, escalating to @RBI,

Despite multiple account closure requests since 21 Jan (SR2200364) and a fresh one on 16 Feb (SR117631) after your penalty warning email, the account remains open.

False assurances, zero action and penalty email threats. This is harassment.

[Wealth Rituals @WealthRituals]

@sbmbankindia , Request : SR117631

responded to your team's email almost a week ago, clearly restating my original request again and still haven’t received any reply.

Please review the request properly and respond immediately, this level of service is extremely disappointing and poor.

[Wealth Rituals @WealthRituals]

@sbmbankindia @sbmbankindia, your team responded stating that the account has been closed, which I did not request. Additionally, this account was already closed almost two years ago.

Please ask your team to review the request carefully before responding.

[Naval @naval]

Is Traditional Software Engineering Dead?

“Does this mean that traditional software engineering is dead? Absolutely not. Software engineers—even the ones who are not necessarily tuning or training AI models—these are now among the most leveraged people on earth. Sure, the guys who are training and tuning models are even more leveraged because they’re building the tool set that software engineers are using.

But software engineers still have two massive advantages on you. First, they think in code, so they actually know what’s going on underneath. And all abstractions are leaky. So when you have a computer programming for you—when you have Claude Code or equivalent programming for you—it’s going to make mistakes.

It’s going to have bugs. It’s going to have suboptimal architecture. So it’s not going to be quite right. And someone who understands what’s going on underneath will be able to plug the leaks as they occur.

So if you want to build a well-architected application, if you want to be able to even specify a well-architected application, if you want to be able to make it run at high performance, if you want it to do its best, if you want to catch the bugs early, then you’re going to want to have a software engineering background.

The traditional software engineer is going to be able to use these tools much better. And there are still many kinds of problems in software engineering that are out of scope for these AI programs today. The easiest way to think about those is problems that are outside of their data distribution.

For example, if they need to do a binary sort or reverse a linked list, they’ve seen countless examples of that, so they’re extremely good at it. But when you start getting out of their domain—where you have to write very high-performance code, when you’re running on architectures that are novel or brand new, when you’re actually creating new things or solving new problems, then you still need to get in there and hand code it.

At least until either there are so many of those examples that new models can be trained on them, or until these models can sufficiently reason at even higher levels of abstraction and crack it on their own…

And remember: there is no demand for average. The average app—nobody wants it, at least as long as it’s not filling some niche that is filled by a superior app. The app that is better will win essentially a hundred percent of the market. Maybe there’s some small percentage that will bleed off to the second-best app because it does some little niche feature better than the main app, or it’s cheaper, or something of the sort.

But generally speaking, people only want the best of anything. So the bad news is there’s no point in being number two or number three—like in the famous Glengarry Glen Ross scene where Alec Baldwin says, “First place gets a Cadillac Eldorado, second place gets a set of steak knives, and third place you’re fired.”

That’s absolutely true in these winner-take-all markets. That’s the bad news: You have to be the best at something if you want to win.

However, the set of things you can be best at is infinite. You can always find some niche that is perfect for you, and you can be the best at that thing. This goes back to an old tweet of mine where I said, “Become the best in the world at what you do. Keep redefining what you do until this is true.”

And I think that still applies in this age of AI.”

[Wealth Rituals @WealthRituals]

@sbmbankindia , I have already shared all the required details both here and in my previously submitted request.
However, I have still not received any update regarding the above-mentioned tickets, either via call or email.

I would like to clearly state that I will not be liable to pay any interest that may be levied from 1st March, as I have been consistently requesting the closure of this account since 21st January.

[Wealth Rituals @WealthRituals]

@sbmbankindia Vested

[Ben Sigman @bensig]

Get ready to lose your job…

[Wealth Rituals @WealthRituals]

@sbmbankindia @sbmbankindia , I shared the requested details yesterday shortly after your message.
However, I still have not received any update on the service request and no one has contacted me yet.

[Wealth Rituals @WealthRituals]

Markets don’t move randomly.
Sectors rotate with the business cycle.

Early cycle → cyclicals lead
• Financials
• Industrials
• Consumer Discretionary

Mid cycle → growth peaks
• Tech
• Communication Services

Late cycle → inflation-resistant, defensives shine
• Energy
• Staples
• Utilities

Recession → capital preservation matters
• Health Care
• Staples
• Utilities

Understanding where we are in the cycle helps position where capital should flow next.

[Wealth Rituals @WealthRituals]

$MSFT Technical Alert

- Microsoft is ~30% down from its all-time high
- Currently testing the weekly 200 EMA, sitting near the lower end of its long-term channel
- Weekly RSI in oversold territory — historically a zone of strong reactions

[Wealth Rituals @WealthRituals]

$AMZN Technical Alert 🚨

- Currently down 24% from its All-Time Highs.
- RSI is flashing oversold conditions on all intraday timeframes (below daily).
- Price action is testing the channel bottom.
- Watching the 188 level closely as strong support.

[Wealth Rituals @WealthRituals]

Monday Motivation | 15

Successful investing is about anticipating the anticipations of others.

— John Maynard Keynes

#MondayMotivation #trading

[Wealth Rituals @WealthRituals]

Pro Tip

Covered call rule most people ignore :

- Only sell calls at prices you’d be happy to sell your shares.
- If you wouldn’t sell the stock there, don’t sell the call.

Simple rule.
Big difference.

[Wealth Rituals @WealthRituals]

Covered Call Strategy (save this) 👇

One of the simplest strategies:

- You already own the stock
- You sell a call
- You earn income

No leverage.
No complex spreads.

Boring? Yes.
Effective? Also yes.

[Wealth Rituals @WealthRituals]

Covered Call example

Stock Owned: 100
Stock Price: $100

Sell $110 call for $3

Outcomes:

- Below $110 → keep shares + $300
- Above $110 → sell at $110 + $300
- Stock drops → premium cushions the loss