Nomad Cat

Tweeting on investing, startups, entrepreneurship, technology and developing markets

[Nomad Cat @nomadcat]

My largest holdings (May 2024):

Apple (16% of portfolio) [current price $183 / cost basis per share $10]
Alphabet (10.5%) [168 / 14]
Amazon 6.5% [187 / 96]
Sea Limited $SE (4%) [65 / 51]
Abbvie $ABBV (4%) [161 / 55]

Top 5 41%...

continued https://t.co/hQhsiBsydJ

[Janice Hough @leftcoastbabe]

From the Texas Tribune:

After Mexican officials confirmed case of screwworm in Nov. 2024, USDA, under Joe Biden, closed southern ports of entry to live cattle imports to prevent spread of screwworm into U.S. Move also strained supply of cattle in Texas....
USDA reversed course in Feb 2025, after Trump took office, announcing opening of ports"

[Nomad Cat @nomadcat]

One of the daily instances of the incredible level of incompetence and corruption in the current USA administration. The embarrassing tariff fiasco gets the most attention every day but the displays of incompetence are constant and relentless. The costs are huge and long term.

[Tristan Snell @TristanSnell]

The Trump DOJ filed a letter in the case regarding NYC’s congestion pricing program

But they filed the wrong letter with the court

Instead they filed an INTERNAL letter

ADMITTING that the administration does not have a case. 😂

[Justin Wolfers @JustinWolfers]

Mr. Vice President @JDVance, I'm sure you don't mean to mislead anyone, but the hard data suggest that in fact you've inherited a stronger economy than any administration in your lifetime.

[Kyla Scanlon @kylascan]

For every $1 spent by the Parks, they produce $15 in economic activity. It is less than 0.067% of all federal spending.

Parks have a huge economic multiplier. They create platforms for substantial private sector activity (tourism, recreation businesses, etc.) while preserving public assets that appreciate in value over time. It's an incredible investment for the economy, and one we should keep.

[Rep. Don Beyer @RepDonBeyer]

ICE detained a U.S. citizen in Northern Virginia with guns drawn. He offered to show ID and told the officers he was an American citizen, but they handcuffed him anyway. The man is a Trump voter, but says he is reconsidering his support after he was targeted for being Hispanic:

[Nomad Cat @nomadcat]

@EnergyCredit1 The much bigger problem is all the illegal and unconstitutional actions by the administration. Tariffs do much quicker damage to the economy but that damage is *minor* compared to what else this administration is doing wrong.

[Nomad Cat @nomadcat]

@HedgeDirty Also because he can just do it instead of having to do the job of politics and actually negotiate with others to reach a solution that is agreeable and profitable. This takes knowledge, hard work, skill, trust, working *with* others, learning/studying... all things he lacks.

[David Frum @davidfrum]

I cannot think of a previous example in US history of a president

a) inheriting a successful fast-growing economy;

and

b) promptly capsizing it by his own freely chosen policies motivated by his prejudices and ignorance.

Yet that's Trump 2025.

[Nomad Cat @nomadcat]

@jayparsons Realistic if you look at the USA's track record.
If you look at Singapore (others with well run governments probably too, Scandinavia?) you can see that it isn't "public housing" that is the issue; it is very poor management of that resource by those with authority in the USA.

[Old Canada Series @oldcanadaseries]

The Mexican President, American President and Canadian Prime Minister signing the USMCA trade deal in 2019. Donald Trump said this week that tariffs on Canada will have to be instituted because this trade deal was “signed by a previous administration and leader who was a fool”.

[Jeff Davies, the Energy OG @EnergyCredit1]

Jack Welch destroyed GE by focusing on short term earnings manipulation (personally involved in energy deal they sold at end of qtr to help with earnings) and posturing to the Street

DOGE doing same thing. I’m all for reducing govt waste but firing people who got promoted making them probationary and easy to fire isn’t efficient. You presumably are firing the best workers if they’ve been recently promoted.

[Jay Vas @jayvas]

Berkshire Hathaway paid $26.8bn in taxes in 2024, which is 5% of ALL corporate taxes collected by the IRS that year.

This is Buffett's response to that. Truly a class act.

[Nomad Cat @nomadcat]

The continued incompetence and/or lying by the current administration is astounding. The Republican party cheers on the incompetence + destruction of the rule of law. Anyone granting any authority to these people that the Republican party has surrendered to is destroying the USA.

[James Surowiecki @JamesSurowiecki]

What's especially frustrating about Musk making it seem as if millions of Social Security checks might be going out to people aged 100+ is that we know how many Social Security checks went out in December to people aged 99+: 89,106.

[Kyla Scanlon @kylascan]

Lots of people are comparing the job cuts now to Clinton, and it's quite different. Clinton's job cuts followed a careful 6-month National Performance Review that identified where reductions wouldn't harm services. The cuts were implemented gradually with bipartisan support (and were signed into law after a review period) allowing agencies to adapt to new normals while maintaining functionality. This was a careful approach! It's why government services remained stable even as the workforce shrunk during the 1990s. Government agencies aren't tech startups, right? They must maintain essential services for all citizens (as Steve Bannon has talked about) which is why the *method* of reducing the workforce, not just the end goal, matters. Again, no disagreement in waste, but moving too fast ultimately creates more waste in clean up.

[Nomad Cat @nomadcat]

The damage done by these incompetent people is going to last for many years. They have no clue about what they are talking about and have no interest in learning to be knowledgeable about government. They just rant and rave and make unfounded and inaccurate claims constantly.

[Jeff Davies, the Energy OG @EnergyCredit1]

The OIG wrote a follow up report in 2023 relating to all the SS# in the SS database with no death dates

Follow up to a 2015 report

The *explosive* information from DOGE been out there and discussed for years

And there are controls in place so dead people don’t get paid (not that I imagine they work all the time)

[Nomad Cat @nomadcat]

@AKWilk They would grow to be small caps and medium caps and... if they didn't :-)

[Nomad Cat @nomadcat]

@christankerfund Thanks.
It seems a bit odd to say 30% below market imo; the "market" would factor that in to a price. But at least I can understand the logic of the ships cost 30% less than the same ship without charters because we have leases (and options) we have to honor for 1-5 years.

[Nomad Cat @nomadcat]

My largest holdings (Nov 2024):

Apple (15% of portfolio) [current price $230 / cost basis $10]
Alphabet 8% [165 / 13]
Sea Limited $SE 6.5% [113 / 51]
Amazon 6% [197 / 96]
$MELI 3.5% [1,761 / 1,094]
...

see more on my Mastodon account https://t.co/qiUmMuUEh0

[Nomad Cat @nomadcat]

@Trinhnomics 1 huge difference in approach is a Harris administration would hire experts with a proven track record of success. The Trump administration would hire those who have been pledging loyalty to him; many without the necessary knowledge, experience or temperament to manage complexity