5201314

[5201314 @FinancialInd33]

"Bull markets place a premium on promises and bear markets discount reality." -- Jim Chanos

[The Transcript @TheTranscript_]

Demand vs supply comments this week:

$TSM TSMC CEO: “Demand is continue to increase… still our supply is very tight… we expect it continues to be very tight"

$ASML ASML CEO: "Demand for chips is outpacing supply"

[Atal @ZabihullahAtal]

Stanford just released a 1.5-hour lecture on “LLM Architecture.”

This is the exact thing systems engineers at Anthropic and OpenAI require to understand at a deep level.

Give it some time.

This might be the highest-ROI learning you do this month.

[Dhaval Makwana @heyDhavall]

Instead of watching Netflix tonight, watch this 2-hour Stanford lecture.

You’ll learn more about how ChatGPT, Claude, and other LLMs are built than most people at top AI companies learn in years.

[The Transcript @TheTranscript_]

TSMC revenues by tech and platform:
$TSM

[WOLF @WOLF_Financial]

STANLEY DRUCKENMILLER: "I SHORTED $200 MILLION OF INTERNET STOCKS IN MARCH 1999. IN THREE WEEKS I COVERED THEM AT A $600 MILLION LOSS."

"I was short 12 stocks. They all went bankrupt. Every one of them."

He was right on every single pick. Still lost $600M.

"If you're dead wrong on a long, you can lose 100%. If you're dead wrong on a short, you can lose 10 times your money."

"Frankly, I'm not sure I've ever made money in shorts. I've never had a down year, but I'm not sure I've made money in shorts. I like it. It's fun. But you can get your head handed to you."

"Don't try that at home."

[David Vance @DavidVance]

How it started. How it ended.

[Koyfin @KoyfinCharts]

Stanley Druckenmiller after losing $3 billion on tech stocks during the 2000 bubble:

"I didn't learn anything. I already knew I wasn't supposed to do that".

[Jaynit @jaynitx]

This 1 hour interview with the mathematician who outperformed Buffett, Soros, and Dalio, generated $100B+, avg. 66% returns will teach you more about investing than a $200K MBA.

Bookmark this & give it 1 hour, no matter what. It’ll be the most productive thing you do this week.

[WOLF @WOLF_Financial]

STANLEY DRUCKENMILLER: “I JUST DON’T CARE WHAT I PAID FOR A STOCK. IT’S ABSOLUTELY IRRELEVANT.”

“If the reason I bought a stock is no longer the case, I don’t care if I bought it at 60 and it’s 50. I have no emotion whatsoever.”

“There’s resistance at certain prices because a bunch of people bought at 60, it went down, and they’ve been waiting 3 or 4 years for it to get back. Meanwhile they could’ve been in something else going up the whole time.”

His friends and fellow investors say he’s “entirely unemotional.” His response: “Yes. I’m told that’s true.”

Is that the key to his success?

“I think it’s a big part of it. Being open-minded and having humility. The only reason you can change your mind is if you’re not arrogant about a position.”

[Barchart @Barchart]

JUST IN 🚨: Palantir $PLTR is worth well under $50/share warns Big Short Investor Michael Burry 📉🤯👀

[Steve Burns @SJosephBurns]

“People always forget that 50% of a stock’s move is the overall market, 30% is the industry group, and then maybe 20% is the extra alpha from stock picking. And stock picking is full of macro bets. When an equity guy is playing airlines, he’s making an embedded macro call on oil.”

— Stanley Druckenmiller

[WOLF @WOLF_Financial]

STANLEY DRUCKENMILLER AVERAGED 30% RETURNS FOR 30 YEARS WITH ZERO LOSING YEARS

His approach to risk: "I like putting all my eggs in one basket and then watching the basket very carefully."

"Most people make 70-80% of their money on 2 or 3 ideas, even though they have 30 or 40 things in their portfolio. My concept was to put into those 2 or 3 ideas I had the most conviction in."

"Too many investors look at the present. The present is already in the price. You have to visualize 18 to 24 months from now what the world is going to be."

"What a company's been earning is ridiculous. It doesn't mean anything. If you can see something 2 years out that's entirely different than the conventional wisdom, that's how you make money."

"My first boss used to say: the obvious is obviously wrong."

[The Kobeissi Letter @KobeissiLetter]

Tonight's situation is proof that X has become the primary source for world-changing news, developments, and analysis.

Those not on X are receiving market-moving information on a delay.

Following the right accounts on X is quite literally a source of alpha in 2026.

[Jack Lindsey @Jack_W_Lindsey]

Before limited-releasing Claude Mythos Preview, we investigated its internal mechanisms with interpretability techniques. We found it exhibited notably sophisticated (and often unspoken) strategic thinking and situational awareness, at times in service of unwanted actions. (1/14)

[Shay Boloor @StockSavvyShay]

Bill Ackman said one of the biggest edges in investing is being willing to underwrite a business 3-5 years out which is why he owns $AMZN, $META & $GOOGL.

Volatility is the price you pay for long-term compounding when the market gives you the chance to buy value at a discount.

[Bitcoin PulseX @BitcoinPulseX]

🚨 BREAKING:

THE European Central Bank HAS FORMALLY REJECTED Bitcoin FROM ITS FRAMEWORK.

Christine Lagarde STATES IT FAILS TO MEET BASIC STANDARDS FOR SAFETY AND SECURITY.

SHE EVEN LINKED IT TO ILLICIT ACTIVITY — LOUD AND CLEAR.

THE EU JUST FIRED A DIRECT SHOT AT CRYPTO 🚫🇪🇺

[Jacob King @JacobKinge]

BREAKING: Michael Saylor's Strategy has officially HALTED its $BTC accumulation last week, ending a 13-week consecutive buying streak.

[Jacob King @JacobKinge]

A new study shows that over 6.7 million Bitcoin are currently held in addresses susceptible to quantum attacks. This is insane.

These attacks, which are expected to become a real threat within the next couple of years at minimum, will completely crack private keys in a matter of minutes.

Many Bitcoiners are panicking. They believe the code can be tweaked to make it quantum-proof, but that is definitely not the case.

Roughly $600 billion worth of BTC cannot be migrated by their owners. The freeze-or-not-freeze debate around Satoshi’s coins alone will become the hardest governance call in Bitcoin’s history.

Bitcoin’s days are numbered, and experts are aware of this. You can already see many top insiders, whales, and institutions reversing their stance on Bitcoin and offloading in recent months. Don’t ignore that.

Retail sheep are being left as the last bag holders, drawn in by the false idea that Bitcoin is the most secure asset ever. Ironically, that belief will end up being its downfall.

[Jacob King @JacobKinge]

Google Quantum AI released a white paper today warning that cracking 256-bit ECC, which is widely used in Bitcoin wallets, requires MUCH fewer resources than originally expected.

With under 500,000 physical qubits, any private key could theoretically be cracked in under 9 minutes. Wow.

This is one of the many reasons why whales and insiders have been quietly offloading Bitcoin in droves. Bitcoin’s days may be numbered. In a short time, quantum computing can and will completely abolish the space.

[Coin Bureau @coinbureau]

⚠️GOOGLE SAYS A QUANTUM ATTACK ON BITCOIN TAKES JUST 9 MINS WITH A 41% SUCCESS RATE

Google's quantum team now says cracking Bitcoin may require less than 500K qubits, far below the “millions” once assumed.

Research suggests an attack could take 9mins, faster than a typical 10-min block confirmation, giving a 41% success rate.

Google now flags 2029 as a key deadline to upgrade Bitcoin’s cryptography before quantum becomes a real threat.