economy

Stacker_Stocks

Berkshire reduced its largest historical position in the third quarter and, at the same time, entered Alphabet with almost 18 million shares.

This is the first time Google has entered the portfolio—and it happens exactly as Buffett prepares to exit and Greg Abel takes the wheel.

![](https://m.stacker.news/117636)



1️⃣ Apple becomes a “source of cash” — no longer a source of conviction

Buffett began reducing Apple's holdings in 2023, and the move turned into a strategy with significant cuts.

The stock ceased being untouchable a long time ago.

It became liquidity to reposition the portfolio at a critical moment in the succession process.




2️⃣ Google enters as a new structural bet

Berkshire bought 17.8 million shares of Alphabet.

It's the first entry in history — and it's not a small one.

Alphabet grew 16% in the quarter, accelerated its AI cycle, and traded at multiples much lower than Apple.

It's the "cheap" tech giant.




3️⃣ Greg Abel's signature is already appearing in the portfolio

Buffett remains the face of the company, but the portfolio style has changed.

Entering Google — after decades of avoiding it — and dismantling Apple more aggressively is in the DNA of the new management.

Less attachment, more pragmatism.

Succession is happening in practice.



4️⃣ Berkshire accelerates turnover and unwinds other positions

It was the 12th consecutive quarter of net sales.

US$12.5 billion went out; US$6.4 billion came in.

Reduction in Bank of America.
Complete exit from D.R. Horton.
Reinforcement in insurance companies like Chubb.

And for the fifth consecutive time, no repurchases of its own shares.



5️⃣ Google surges this year — Apple stagnates

Alphabet is up more than 45% by 2025.
Apple only 9%.
Berkshire rises 12%, below the S&P.

The rotation makes sense: performance has changed, the cycle has changed, and so has leadership.



These moves by Berkshire are not just a curiosity — they say a lot about valuation, the cycle, and what's coming next.

Buffett swaps Apple for Google at a key moment in the succession process.

According to Beijing, Washington orchestrated a massive hacking operation against a Chinese mining pool.

The value today exceeds US$13 billion.

The details are astonishing!

![](https://m.stacker.news/117174)



1️⃣ One of the biggest Bitcoin thefts in history

The target was LuBian, once one of the world's largest mining operations.

According to the Chinese cybersecurity agency, 127,272 BTC were stolen in December 2020 in an attack allegedly orchestrated by American state-sponsored hackers.

![](https://m.stacker.news/117175)




2️⃣ Bitcoin Movement Reveals the Alleged Profile of the Hacker

China claims that the BTCs remained stagnant for a long time and only began to move discreetly, without rapid liquidations or traces of resale.

For Beijing, this behavior is typical of covert government operations, not common criminals.




3️⃣ US says assets were confiscated from a Cambodian businessman

Last month, the Department of Justice announced the largest crypto seizure in history: exactly 127,271 Bitcoins.

They are allegedly linked to Chen Zhi of the Prince Group, accused of fraud and money laundering in NY.

![](https://m.stacker.news/117176)




4️⃣ According to the US, Chen laundered money using crypto mining

The indictment states that Chen and his associates used illicit funds to finance large-scale operations — including LuBian itself.

Prosecutors claim that LuBian's wallets received crypto from external sources, unrelated to mining.




5️⃣ But China claims the US stole these assets — and only then fabricated a narrative.

The Chinese report states that Washington hacked the wallets in 2020, then used Chen's evidence as retroactive justification to confiscate the Bitcoins.

The description: “bandit against bandit”.




6️⃣ Tensions Go Beyond Crypto

Beijing has escalated its rhetoric against the US over alleged cyberattacks.

Among the most recent accusations:

– attack on Microsoft Exchange servers
– espionage against China's weather services center
– surveillance of private companies



7️⃣ Chen is free — and trying to reverse the confiscation

His lawyers have asked the American court for more time to trace the Bitcoins and prove that the seizure was improper.

They describe the accusation as "seriously mistaken" and state that they are gathering experts to contest the case.

China accuses the US of stealing 127,000 Bitcoins in a state-sponsored attack!

At 95 years old, he announced that he will stop writing Berkshire's annual letters and that Greg Abel will take over at the end of the year.

But his last letter is not just a goodbye.

It's a testament to his life.

![](https://m.stacker.news/116775)



2. “I’m leaving. Sort of.”

Buffett begins by saying he will stop writing letters and holding annual meetings, but will continue writing Thanksgiving messages—for his children and shareholders.

And he asks the audience to join him in three reflections:
• A little memory
• What he will do with the stocks
• And what he has learned from life



3. Escaping Death at Age 8.

In 1938, he had an abdominal crisis. The doctor thought it was temporary, but something wouldn't leave him alone.

Buffett underwent emergency appendicitis surgery—and survived.

During his recovery, he befriended the nuns.

And he devised a fantastical plan to…
collect their fingerprints.



4. The obsession with fingerprints

He thought that if a nun committed a crime, the FBI would have her collection as the only source.

Later, he realized that the real risk was the FBI director: J. Edgar Hoover.

“I should have filed him too.”




5. A tribute to Omaha.

Buffett remembers childhood friends, like Charlie Munger, who lived a block away—but only met him when he was 28.

He talks about the house where he still lives today.

About the neighbors who became legends (Stan Lipsey, Don Keough, Walter Scott).

And about the improbable encounters that only chance can explain.




6. “Is there something in the water in Omaha?”

Even Ajit Jain (born in India) and Greg Abel (born in Canada) lived there.

Buffett says he had the chance to live in New York with Ben Graham, but returned to Nebraska in 1956. And never left again.

It was in Omaha that he met his wives.

Raised his children.

And built the Berkshire empire.



7. “I pulled the longest straw in the world.”

Buffett speaks with brutal frankness about luck:

“I was born a man, white, American, healthy, and reasonably intelligent in 1930.” All attributes that were advantageous in the corporate world at that time.

He says his sisters were more intelligent and had better personalities—but had fewer opportunities.




8. Old age came late. But it arrived.

He says he still works 5 days a week.

But he already feels the weight of age: balance, vision, memory.

And the constant presence of "Mr. Time"—who conquers all.

Even so, he says he has never felt so good about his own life.




9. It's time to accelerate the donations.

His three children are 72, 70, and 67 years old.

And Buffett wants to ensure they can donate their entire inherited fortune during their lifetime.

Therefore, he will increase the contributions to family foundations.

But he will retain shares until Greg Abel gains the complete trust of the market.




10. “They don’t need to be perfect. Just better than the government.”

Buffett doesn’t expect miracles from his children.

But he wants them to do better than the average public and private initiative.

And he reminds us that poorly done philanthropy also destroys value:

“I’ve seen many mistakes made by politicians, heirs, and eccentric donors.”




11. And he leaves a rare warning about succession.

Buffett reinforces that Greg Abel is the right person to lead Berkshire — perhaps for decades.

But he warns:
• He has seen brilliant CEOs lose their lucidity
• He himself failed by not acting quickly
• The board needs to be attentive to signs of neurodegenerative diseases




12. He also makes a sharp critique of the compensation system.

The attempt to expose CEO salaries only generated more greed.

Buffett says the effect was the opposite:

• A company's CEO started demanding more because a rival was earning more.
• Boards increased their own salaries.
• And no consultant suggested cuts.

“It is envy, not moderation, that has driven the system.”




13. And he speaks clearly about the company's future.

• Berkshire should outperform
• But its size limits growth
• On the other hand, the risk of collapse is very low
• And the managers have no ambition to create dynasties or flaunt wealth




14. The stock price could fall by 50%. And that's okay.

It's happened three times in the last 60 years.

And he reinforces: Berkshire will remain aligned with its shareholders.

Without depending on the government.

Without becoming a hostage to moral hazard.

And without deviating from what built the empire.




15. The last piece of advice is human.

Buffett says he feels better in the second half of his life than in the first.

He made many mistakes, but learned from his friends.

And he leaves three phrases as his testament:

• The cleaning lady is worth as much as the CEO.

• The golden rule is unsurpassed.

• And kindness is free—but it's worth everything.





16. “Yes, even the jerks: it’s never too late to change.”

Buffett concludes by wishing a Happy Thanksgiving even to the ungrateful.

And he reminds us that, however imperfect it may be,

America still offers the greatest opportunities.

The letter is his farewell. But also his last reminder:

“You will never be perfect, but you can always be better.”

Warren Buffett is saying goodbye.

The allegations involve accounting distortions, inflated profits, and servers with artificially extended lifespans.

The estimate: more than US$176 billion in "phantom profits" by 2028.

He even promised to release worse details on November 25th!

Is this the age of artificial intelligence or artificial accounting?

![](https://m.stacker.news/116724)



1. One of the most common frauds of the modern era

Michael Burry wrote:
“Understating depreciation by extending the useful life of assets artificially boosts earnings — one of the more common frauds of the modern era.”

In other words: companies are manipulating results by extending, on paper, the useful life of assets — just to reduce depreciation and inflate accounting profit.

![](https://m.stacker.news/116725)



2. Nvidia Chips Are the Epicenter of the Distortion

He accuses tech giants of applying this accounting trick specifically to Nvidia chips and servers—even though these are pieces of equipment with a 2-3 year lifecycle.

On the balance sheet, they appear as if they last much longer.

This is the move that reduces depreciation and inflates accounting profit in the short term.

![](https://m.stacker.news/116726)



3. Spending explodes, but accounting doesn't keep up

"Heavy investment in chips and servers with a 2-3 year lifecycle shouldn't lead to extending the accounting lifespan of these assets."

But that's exactly what's happening, according to Burry.




4. All the big cloud companies are doing this

“But that’s exactly what all the hyperscalers did.”

Companies like Amazon, Microsoft, Oracle, and Meta are allegedly distorting their balance sheets by underestimating the wear and tear rate of the servers they bought for AI.




5. The size of the bomb: $176 billion by 2028

Burry estimates that, between 2026 and 2028, these companies will underestimate $176 billion in depreciation.

This is money that should appear as a cost—but disappears from the result, artificially inflating profits.




6. Meta and Oracle Lead the Way in Inflated Profits

He projects that, by 2028:
• Oracle ($ORCL) will have profits 26.9% higher than it should
• Meta ($META), 20.8% above reality

“But it gets worse. More details on November 25th.”




7. He's sold — and with very clear targets.

Days before making this accusation, Burry revealed that he bought put options against Nvidia and Palantir.

In other words: he's betting directly against stocks linked to the AI ​​boom.




8. Jim Chanos and others have been warning about this.

Burry is not alone. Other short sellers have also been criticizing these practices, saying that some companies are using leasing and off-balance sheet structures to hide part of their infrastructure investments.

![](https://m.stacker.news/116727)




9. The AI ​​bubble may be being inflated in Excel

With the market euphoric, any extra profit is worth billions in market value.

But if profits are artificially inflated by accounting tricks, the risk goes far beyond stretched valuation—it's a distortion at the very foundation of the narrative.

Michael Burry accuses Big Tech of billion-dollar fraud involving Nvidia chips.

The American president has just announced a "tariff dividend" funded by what the US has been collecting through trade with other countries.

Stimulus checks are officially back — along with various measures to increase liquidity — but with a new nationalist veneer.

![](https://m.stacker.news/116392)



1. In a post on Truth Social, Trump stated:

“We are raising trillions of dollars and we will begin paying off our $37 trillion debt.

A dividend of at least $2,000 per person will be paid—except to the wealthiest.”

![](https://m.stacker.news/116393)



2- He called the measure a “Tariff Dividend” — a new type of economic stimulus funded by import tariffs, not by issuing debt.

Trump wants to transform tariff revenue into direct benefits for the American population.




3- Trump also attacked critics of the tariffs:

“Anyone who opposes tariffs is an IDIOT!

Now we are the richest and most respected country in the world, with low inflation and stocks at all-time highs.”



4- According to the announcement, the minimum fee will be US$2,000 per person, funded with the nearly US$200 billion collected in fees in 2025.

There will be no fee for those in the highest income bracket.




5- In practice, this is a new round of stimulus checks—like those from the pandemic. But now with a protectionist slant: the money comes from foreign countries, via tariffs.

This is coupled with other economic stimulus measures, such as interest rate cuts, the end of QT, and deregulation of the financial sector, while inflation remains above target.




6- The proposal reinforces the "Trumpomics" style: economic populism, direct stimulus to the population, and confrontation with trade rivals.

For him, tariffs are not a cost—they are a source of revenue that can finance social programs without affecting domestic taxes.




7- This stimulus costs at least US$400 billion (US$2,000 x 200 million Americans)

The question that remains is: will the expenditure really be double what will be collected in the year?

How does this lead to debt reduction?

The tariff dividend

Politics_And_Law

Amid the largest US military siege since 1962, the Venezuelan dictator signals he may accept a negotiated solution.

But behind the scenes, much more is revealed: internal pressures, Russian interference, and Trump's unexpected retreat.

![](https://m.stacker.news/116332)


1. Maduro doesn't rule out leaving — but imposes conditions

According to The Atlantic, he would agree to a "managed exile" if Trump grants amnesty, suspends the rewards for his capture, and facilitates his safe escape.

It's the regime itself trying to avoid a forced collapse.




2. “Everything is on the table with Maduro,” said a source with access to both sides.

If the pressure is great—but there are concessions—the regime itself is willing to negotiate a way out.

But time is running out.




3. This is not the first attempt.

Trump had sent Richard Grenell to negotiate an agreement with Maduro.

The plan included:

• Access to Venezuelan oil and minerals
• Cooperation against cartels
• Repatriation of illegal immigrants
• Release of American hostages




4. But the process was buried by Marco Rubio.

Now Secretary of State, Rubio pushed for an aggressive shift, labeling Venezuela a "narco-terrorist state" and ending talks with Chavismo.

The government then aimed for regime change by force.



5. The military escalation began soon after.

The US launched attacks against vessels linked to cartels in the Caribbean and the Pacific. Following this came the largest American mobilization in the region since the Cuban Missile Crisis of 1962:

• Aircraft carrier Gerald R. Ford
• Nuclear submarine
• ~10,000 troops
• Drones and fighter jets




6. Feeling the noose closing in, Maduro appealed to allies for help.

According to the Washington Post, he sent letters to Putin and Xi Jinping requesting expanded military cooperation.

He also contacted Iran.

The idea: to form a geopolitical shield against a possible American intervention.




7. Moscow responded quickly.

Russia signaled public support:

• Repair and upgrade of Sukhoi fighter jets
• Shipment of new missiles (including Oreshnik)
• Expansion of technical and logistical assistance
• Justification: legitimate bilateral cooperation

A kind of open Cold War.




8. Russian involvement complicates the situation

With a confirmed military presence on Venezuelan territory, an American offensive becomes much riskier.

The expectation of a rapid transition, as Rubio wanted, is becoming more distant.

And Maduro is buying time.




9. The CIA is also in the game.

Sources confirm that Trump authorized the agency to conduct lethal actions in Venezuela.

Officially, the targets are the cartels.

In practice, the focus is on increasing pressure on Maduro and testing his resistance.





10. But with Russia on the radar, the situation may have turned into a trap.

If he attacks, Trump could further escalate the indirect confrontation with Moscow.

If he backs down, he strengthens Chavismo and loses political capital.

The window for a negotiated solution may have closed.



The crisis in Venezuela may seem local, but it has global implications: oil, China, Russia, Latin America, and political capital in the US. All of this can impact the market.

Maduro is considering stepping down! 🇻🇪

After the CEO of the world's most valuable company declared that the United States could lose the technological race to China, everything changed.

In three days, Nvidia lost $800 billion in market value—and the context reveals much more than a one-off correction.

![](https://m.stacker.news/116197)



Jensen Huang's statement in an interview with the Financial Times:

"China will win the artificial intelligence race."

He cited excessive regulations in the US and highlighted China's progress with state support and energy subsidies.

![](https://m.stacker.news/116198)



Since then, Nvidia's stock has fallen by -16%, one of the biggest corrections for a big tech company since the start of the AI ​​rally.

On Friday alone, the loss was almost -5%.

That's a lot when the company is worth more than $4 trillion.

![](https://m.stacker.news/116199)




After the negative reaction, Huang released a statement retracting his statement, saying that China is "nanoseconds behind" the US in this race.

But the market remained under pressure.

The following day, the press revealed that the American government is considering banning sales even of Nvidia chips created specifically for China.

![](https://m.stacker.news/116200)





The detail that went unnoticed: Huang had met with Donald Trump just a few days prior.

And shortly after that meeting, Trump met with the President of China, Xi Jinping.

Everything seemed connected, but little information reached the public.

What happened behind the scenes?



![](https://m.stacker.news/116201)




While the episode heightens tensions in the technology sector, the market as a whole has entered a correction.

The S&P 500 has fallen more than -3% in the last 5 days, with over $1.8 trillion wiped out in market value.

![](https://m.stacker.news/116202)




Right in the middle of this correction, Michael Burry, the fund manager who predicted the 2008 crisis, revealed a huge short position against the companies that symbolize the current AI rally: Nvidia and Palantir.

His firm bought 1 million put options on Nvidia and 5 million on Palantir.

Since the disclosure of the position, Palantir has fallen -16%, losing more than US$75 billion in market value.

![](https://m.stacker.news/116205)

![](https://m.stacker.news/116206)




Much of the bad mood also seems to be related to the US government shutdown, which entered its 38th day today—the longest in history.

The FAA began canceling 700 flights a day, affecting more than 4 million passengers and worsening the economic impact.

![](https://m.stacker.news/116207)




Moody's estimates losses of $30 billion per week due to the shutdown.

If it lasts until the end of November, the total cost could exceed $250 billion.

Meanwhile, 42 million Americans are still not receiving benefits from SNAP, the country's main food assistance program.

![](https://m.stacker.news/116208)





The fiscal situation is worsening, and all of this seems to be directly affecting public confidence.

The University of Michigan's consumer sentiment index fell to 50.3 points—the second-worst level in the historical series, even lower than that recorded during the 2008 crisis.

![](https://m.stacker.news/116209)




The moment is sensitive: the AI ​​market is showing signs of tension, trading at high multiples, with the indices heavily concentrated in these companies.

Furthermore, consumer confidence is crumbling and the government is paralyzed.

Episodes like Nvidia's are not isolated. They expose the complexity of a scenario where politics, technology, and economics are intertwined.

Nvidia collapses, exposing the new stress point in the American market.

If he achieves ambitious goals, he earns 424 million shares and could become the owner of more than 25% of the company — with the biggest payout in corporate history!

![](https://m.stacker.news/116057)



1. Over 75% of shareholders voted in favor of the plan.

Despite strong opposition from funds such as CalPERS, Norges, and the New York fund, an absolute majority approved.

The new package replaces the 2018 plan—which was overturned by a Delaware judge in January of this year.

![](https://m.stacker.news/116058)



2. Musk only receives the bonus if he meets all the goals by 2035.

The $1 trillion package is 100% contingent on future performance. He doesn't receive anything automatically.

The figure comes from the estimated total stock appreciation he can unlock if he delivers everything.

![](https://m.stacker.news/116059)




3. The required goals are aggressive — and public

To receive the 424 million shares, Musk needs to take Tesla to a new level on a global scale:

• 20 million cars delivered per year
• 1 million operational humanoid robots
• 10 million paid FSD subscriptions
• Adjusted EBITDA of US$400 billion
• Tesla valued at US$8.5 trillion on the stock market

Today the company is worth approximately US$1.5 trillion and delivers approximately 2 million vehicles per year.




4. The first tranche only comes with a market value of US$2 trillion.

Each block of shares is only released if two conditions are met simultaneously:

→ market valuation target
→ operational or financial target

Even the first requires Tesla to grow by 33% and deliver 11.5 million cars.





5. The shares given in the package cannot be sold for up to 10 years.

Musk will be able to vote with the shares, but will not be able to liquidate the gains for a long time.

If everything is unlocked, he will hold more than 1 billion Tesla shares, consolidating voting power.






5. The shares given in the package cannot be sold for up to 10 years.

Musk will be able to vote with the shares, but will not be able to liquidate the gains for a long time.

If everything is unlocked, he will hold more than 1 billion Tesla shares, consolidating voting power.





The plan is necessary to maintain his full dedication to Tesla.

Since founding xAI and expanding his focus to other areas (such as SpaceX, Twitter/X, and politics), investors have questioned whether he would remain at Tesla.

The plan attempts to ensure the opposite.




7. Musk says he needs control to protect Tesla

He claims he doesn't want the risk of "Tesla's army of robots falling into the wrong hands."

But he also stated that he doesn't want absolute power: "If I go crazy, I need to be able to be fired."





8. The vote was treated as a referendum on Musk.

He even publicly stated that he might leave Tesla if the plan was rejected.

In practice, the shareholders gave their approval for him to lead the company's new phase: a transition from car manufacturer to artificial intelligence platform.






9. Opposition from large funds wasn't enough to block it.

The consulting firm ISS recommended voting against, calling the package "astronomical" and lacking clear safeguards.

But the support of individual investors—who are now the majority—secured Musk's victory.





10. With the approval, Musk regains control of the narrative

Even though the 2018 package remains stalled in court, the approval of the new plan reinforces the perception that Tesla is tied to its fate.

It's a clear signal to the market: the Musk risk remains valid—for success or for chaos.

Tesla approves the $1 trillion package for Elon Musk!

Apple has reached an agreement to pay Google approximately $1 billion per year to integrate its Gemini AI model into Siri, according to Bloomberg.

However, Google pays Apple approximately $18 to $20 billion per year to maintain its search engine as the default on Apple devices.

![](https://m.stacker.news/115920)

Apple and Google: the billion-dollar cycle of dependency

The person who said this was Jensen Huang, CEO of Nvidia, the world's most valuable company and a central player in the American AI strategy.

This is the most striking warning since the technology emerged!


![](https://m.stacker.news/115903)



1. Jensen publicly commented to the Financial Times:

“China will win the AI ​​race.”

According to him, the US is stalling itself—with excessive caution, little investment in energy, fragmented regulations, and political skepticism.

Meanwhile, the Asian country is accelerating.

![](https://m.stacker.news/115904)



2. The Infrastructure Problem

The issue has become a geopolitical argument.

“China is subsidizing energy for its companies. There, energy is practically free.”

In this way, giants like ByteDance and Alibaba have managed to expand data centers even using chips less efficient than those from Nvidia.




3. This state support made a difference when companies migrated to domestically produced chips.

With Huawei and Cambricon chips consuming more energy than Nvidia's, the Chinese government increased subsidies.

The goal: to maintain infrastructure scalability even with a loss of efficiency.




4. Meanwhile, in the US, the risk is also regulatory.

Huang warned about the fragmentation of this American environment.

"We are heading towards having 50 distinct state laws on AI."

This hinders expansion, discourages investment, and drives away talent.




5. Criticism of Western skepticism and a call for boldness

“Building stronger AI systems requires investment and collaboration. Not hesitation.”

He knows Nvidia is leading the way. But he also sees that this is not enough if the country slows the pace of development internally.




6. A few hours later, Jensen released a public correction.

Likely pressured (and dependent) on Washington, the CEO said:

“China is nanoseconds behind the US in AI. It’s vital that the US moves forward and attracts developers from around the world.”

![](https://m.stacker.news/115906)





7. Either the US moves, or it falls behind.

“This is an endless race.”

Having the most powerful chips in the world isn't enough.

It's necessary to secure energy, scale, clear rules, and freedom of construction to maintain the lead.

And China has been preparing for this moment for decades!

"China will win the artificial intelligence race!"

The US government entered its 35th day of shutdown.
The debt rose by US$600 billion in one month.
China continues to sell off Treasuries.

And Michael Burry bet everything against AI.

The market is dangerous! ⚠️

![](https://m.stacker.news/115570)

![](https://m.stacker.news/115571)



The shutdown is already the longest in history — and it's expected to get worse.

It's been 35 days without an approved budget.

The historical average is 8.

The expectation now is that the shutdown will last until December 1st — 61 days, almost double the previous record.

All this at a time when the Treasury needs more funding, and the Fed needs more data.

![](https://m.stacker.news/115572)

![](https://m.stacker.news/115573)



During the shutdown, the debt skyrocketed by US$600 billion.

Even with the government paralyzed, the Treasury continues issuing.

That's more than US$17 billion per day, raising the total debt to US$38 trillion.

The market is already noticing the distortion: the risk premium on long-term bonds has soared.

![](https://m.stacker.news/115574)



China continues to sell off Treasuries

The Chinese share among foreign holders has fallen to 8%, the lowest level in 22 years.

This reduces external appetite for American debt — and forces the Fed or local banks themselves to absorb the excess.

![](https://m.stacker.news/115575)



Wall Street Begins to Prepare for Adjustment

During a conference in Hong Kong, three giants began to express concern:

– Mike Gitlin, CEO of Capital Group (US$3 trillion under management), said that assets are between “fair and overvalued,” but far from being cheap.

– Ted Pick, CEO of Morgan Stanley, stated that a 10% to 15% drop “would be healthy” and part of the cycle.

– David Solomon, CEO of Goldman Sachs, recommended that investors maintain their positions but review their allocations:

“Double-digit drops happen even in positive cycles — and help to reassess prices.”




Meanwhile, the technology sector is weakening in the session.

Palantir, a software company that provides AI solutions to governments and large corporations, plummeted 14% from its high after its earnings report.

Even with strong revenue, the market has begun to doubt its valuation—following a surreal multiple expansion fueled by AI and defense hype.

![](https://m.stacker.news/115577)




Michael Burry bet against the bubble

The legendary investor who predicted the 2008 crisis is now focusing all his efforts on a major correction in AI.

He bought put options on:

– 5 million shares of Palantir
– 1 million shares of Nvidia

The bet against PLTR represents 66% of Scion Capital's portfolio.

![](https://m.stacker.news/115578)



And he left a message hanging in the air:

“Sometimes we see bubbles.
Sometimes there’s something we can do about it.
Sometimes the only winning move is not to play.”

Bury isn’t just short-stakes.

He’s extremely pessimistic about the current situation.

![](https://m.stacker.news/115579)



This is the backdrop to the current tension:

– CEOs urging caution
– American debt exploding
– China reducing exposure
– Endless shutdowns
– AI with stretched multiples
– And the man who bet against subprime mortgages is now obsessed with the new fever.

Wall Street CEOs warn of crisis as US public spending spirals out of control.

New York has always voted for Democrats. But now the frontrunner is a Muslim, immigrant, and self-proclaimed socialist, with radical proposals and an anti-establishment discourse.

The scenario is so unprecedented and relevant that it prompted Trump and Elon Musk to ask for votes… for a Democrat!

![](https://m.stacker.news/115451)


It's not about party affiliation. It's about ideology.

The new fact here isn't a Democrat leading in New York—that's always been the case.

The question is: what kind of Democrat? Zohran Mamdani wants to cut police funding, tax billionaires, freeze rents, and is openly socialist.

![](https://m.stacker.news/115452)



Radical base, militant support

At 34, Mamdani has appeal among youth groups and activists, especially in Brooklyn and Queens.

For his allies, he is "hope." For critics, an ideological leap with costly consequences for the financial heart of the West.

![](https://m.stacker.news/115453)



Cuomo, the lesser evil for many

Former governor, traditional Democrat, and embroiled in scandals — Andrew Cuomo has, in practice, become the only viable obstacle to Mamdani.

Even part of the Republican and conservative electorate is threatening to vote for him, due to a lack of realistic options.

![](https://m.stacker.news/115454)



Trump urged voters to vote for Cuomo.

He called Mamdani a communist and warned that if Cuomo wins, he will not send federal funds to New York.

And he concluded: “You have no choice. Vote for Cuomo.”

![](https://m.stacker.news/115455)



Musk followed the same line of thought.

Elon posted:

“Voting for Curtis is voting for Mumdumi or whatever he’s called. Vote for Cuomo!”

Two icons of capitalism endorsing a Democrat to avoid a socialist.

![](https://m.stacker.news/115456)



New poll released the day before changes the mood

Atlas Intel showed a more balanced scenario than previously thought: Mamdani leads by 4.5 points, with Cuomo close behind.

This rekindled hopes among allies of the former governor — and strengthened calls for other candidates to drop out.

![](https://m.stacker.news/115457)



But the market continues to bet heavily on Mamdani.

On Polymarket, the socialist's victory is priced in with over a 90% chance.

In other words: even with the latest poll giving Cuomo a lifeline, the scenario remains largely favorable to Mamdani.

Polymarket is rarely wrong!

![](https://m.stacker.news/115458)


Why this election matters

What's important here isn't just New York.

It's the signal that the largest city in the US can send to the world: the center of capitalism could come to be governed by a politician who rejects this system.

And this has significant political and economic implications.



What's at stake

This election is not just symbolic.

- It impacts the perception of regulatory risk in the US
- It puts pressure on fiscal and public safety discourse
- It gives strength to radical movements in other Western capitals

All this stemming from the financial epicenter of the world.

The heart of capitalism could elect a socialist this Tuesday! 🇺🇸

OpenAI closes $38 billion deal with Amazon to use Nvidia GPUs via AWS — its biggest step toward breaking its exclusivity with Microsoft.

The contract guarantees capacity until 2026 and reinforces the behind-the-scenes preparations for an IPO that could be worth $1 trillion.

![](https://m.stacker.news/115349)

OpenAI bets on Amazon's AWS in historic $38 billion deal.

All the good mood you see in the Nasdaq and S&P. But behind the optimism, new data this week brought unsettling signs.

Profit is no longer enough.

To maintain this pace, they are spending more, burning cash and taking on debt — all with a valuation that already implies that nothing can go wrong!

![](https://m.stacker.news/115347)



1. The week that raised doubts about the market's direction

Apple, Amazon, Meta, Microsoft, and Alphabet released their results.

The Nasdaq recorded its 7th consecutive monthly gain—its longest streak since 2018.

But the rally began to coexist with unease: some earnings reports showed that the cost of the euphoria is becoming more visible.





2. Meta lost R$1 trillion in 1 day

The numbers were good: revenue growth, profit above expectations, solid guidance. But the tone of the conference call sealed its fate.

Zuckerberg made it clear that investments in AI and data centers will continue to increase—even without a visible return in the short term.

The market reacted with one of the biggest drops in market value in history: -US$215 billion in one day.





3. Profits remain strong, but what's left over is dwindling

Big Tech companies continue to deliver robust results on paper. But free cash flow—which is what really matters for the continuity of the cycle—has been falling for over a year.

The problem isn't generating results.

It's the growing need to reinvest almost everything to sustain the AI ​​narrative.




4. Valuations Reflect Perfection — But the Scenario Isn't Perfect

Nvidia is already worth US$5 trillion. Apple and Microsoft are above US$4 trillion. These three companies alone are worth more than most emerging market stock exchanges combined.

The price reflects an expectation of continuous growth, efficiency gains with AI, and total market dominance — without setbacks.

But some balance sheets have begun to show friction: more spending, less free cash flow, and the risk of compression ahead.




5. The Magnificent Seven Concentrate Risk Like Never Before

Apple, Microsoft, Amazon, Meta, Alphabet, Nvidia, and Tesla already account for 38% of the S&P 500 — the highest level in history.

This means that any adjustment in these companies reverberates across all ETFs, passive funds, and the perception of global risk.

And it's not just about the weight of these companies, but the concentration on a single theme — AI — at a time of still high interest rates and uneven growth.




6. The world's richest companies are taking on debt

For years, Big Tech was synonymous with a clean balance sheet: lots of cash, almost no debt. But that's changing.

Meta and Microsoft already have more debt than cash on hand.

They are taking on debt to finance share buybacks and expand AI capabilities—the kind of decision that can work in a growth cycle... or cost dearly if the cycle reverses.




7. Meta raised US$30 billion. Oracle did the same.

Zuckerberg called it "general corporate purposes." But the market knows: it's money for AI, cloud, and data centers. Oracle did the same thing weeks before. Those who don't fund now may fall behind.

The risk? The numbers don't add up, the return doesn't materialize, or the cost of money rises again mid-way through.




8. These financial reports don't change the thesis — but they make it more expensive and sensitive.

Big Tech companies remain the main driver of the market. But the financial reports made it clear that the bar has been raised: they need to continue delivering accelerated growth with robust margins, while burning cash and increasing debt.

The AI ​​thesis will continue to be the main driver of the market for a long time — but it requires more investment, more patience, and less room for error.

When the market starts penalizing even those who deliver good numbers, the warning isn't about the result. It's about the (enormous) expectation.

The mathematics of the market is starting to fail.

Twelve consecutive quarters of selling shares.

No buybacks. Few significant purchases.

And a pile of cash that's never been so big.

He's signaling what he thinks of the current market:

The prices don't compensate for the risk!

![](https://m.stacker.news/115179)


Buffett has been selling stock for 12 quarters.

In other words: Berkshire has been selling more than it has buying for 3 years.

More than US$180 billion in net sales since the end of 2022.

It was the biggest dismantling in the company's history—done quarter by quarter, with discipline.

![](https://m.stacker.news/115180)


He didn't even want to buy back his own Berkshire shares.

That's five consecutive quarters without buybacks, even with the stock falling 18% since the legendary investor announced his retirement.

Today it trades at 72% above book value, well above the range where Buffett usually buys back shares.

If he doesn't see value even there, imagine what he sees in the rest.



The Buffett Indicator is at 217%.

This metric was developed decades ago to compare the total value of US stocks to the country's GDP.

Buffett has said that levels like this are "clearly dangerous."

And he's acting accordingly.

But it's worth highlighting: American companies have become global, leading many people to dismiss the true meaning of the calculation today.

![](https://m.stacker.news/115181)



The operation is going well. The problem is valuation.

Berkshire earned US$13.5 billion in the quarter, a 34% increase in operating profit.

The highlight was the insurance division — mainly reinsurance and commercial insurance — which delivered more than double the underwriting profit.

Geico stood out: a 13% drop in profit, pressured by more claims and higher costs to acquire clients.

Railroads rose, energy fell.

Buffett sees value in the business — just not at the current price.



While everyone else is seeking risk, he's holding his position.

Berkshire closed the quarter with $381.6 billion in cash, the highest amount in its history.

Even with falling interest rates, Buffett prefers liquidity to investing in assets without a margin of safety.

How long will this continue?



Buffett doesn't need to give interviews.

The data speaks for itself:

– Zeroed repurchases
– Stopped buying
– Continues selling
– Record cash balance of US$381 billion

The signs are everywhere.

And it's very important to stay one step ahead of the market.

Buffett became the world's greatest salesman — and now has $381 billion in cash.

How Tim Cook avoided a major disaster at Apple in 2025

I believe that even though some Apple products have failed, the trust people have in the brand has remained, and that helps keep it at the top. Furthermore, Apple's warranty and support are unparalleled; I don't know of any other company that offers such efficient service. That's their biggest advantage.

The iPhone maker has just reached a market value of $4 trillion — a historic achievement.

But 6 months ago, 4 key factors pointed to a collapse.

One of the biggest silent turnarounds of the year!

![](https://m.stacker.news/115058)


In April, Apple lost its position as the world's most valuable company.

Shares plummeted 20% after Trump announced tariffs on Chinese products.

Since a large portion of iPhones were still assembled in China, the market quickly priced in the worst-case scenario.




But Apple had already prepared a contingency plan.

Tim Cook had been redirecting part of the final assembly to India—and managed to supply the US with iPhones outside the scope of the tariffs.

It was a faster-than-expected response that prevented greater damage.



Trump didn't like the maneuver.

"Let India take care of itself," he declared publicly.

But Cook was shrewd and responded politically:

He went to the White House, announced $600 billion in investments in the US, and presented Trump with a gold-plated plaque.

![](https://m.stacker.news/115060)



The plan had an immediate effect.

Trump made headlines, Cook got an exemption.

Apple escaped tariffs on electronics—and even saw general tariffs against China cut in half.

The market understood the message: the company retained direct access to the White House.

Stocks rose again.

![](https://m.stacker.news/115061)

![](https://m.stacker.news/115062)



But the risk wasn't just geopolitical.

Apple's contract with Google—which ensures that the search engine remains the default in Safari—was under scrutiny by the US government for alleged antitrust violations.

If it were broken, annual revenue would fall by US$20 billion!

![](https://m.stacker.news/115063)



Given the importance of the matter, Apple's defense was led by Eddy Cue, vice president of services.

He is the executive behind the App Store, iCloud, Apple Pay, and the entire ecosystem of services.

Cue personally went to court to argue that the market was already changing with AI—and that breaking the agreement now would be a mistake.

![](https://m.stacker.news/115064)



The strategy also worked.

The companies' influence led to the best possible outcome.

The judge upheld the contract with Google.

And Apple preserved one of its biggest revenue streams without having to change anything.

![](https://m.stacker.news/115065)



Not only did it preserve, but it also scaled.

A few months later, the iPhone 17 and the new Air model were launched without bringing any major innovations, but with specific upgrades that worked with the loyal user base.

With this, the company projected 12% growth for the quarter—enough to rekindle enthusiasm on Wall Street.

![](https://m.stacker.news/115066)



But what truly sustained Apple after the crisis was its services.

Combining the App Store, iCloud, advertising, and the deal with Google, the services division generated over $100 billion in revenue that year—with operating margins above 70%!

Today, this part of the business alone is worth more than many publicly traded big tech companies.

An increasingly safe and profitable diversification.

![](https://m.stacker.news/115067)



Several changes that, in just a few months, rewrote Apple's history.

Tim Cook was never seen as a visionary like Steve Jobs.

He was always called a "technical CEO," "without product vision," "logistics man."

But it was he who faced tariffs, courts, regulatory changes, and pressure for AI—and still led Apple to $4 trillion (+57% since April).

![](https://m.stacker.news/115068)



With Cook, Apple became an empire of predictability even in difficult times.

But he is already 64 years old. And succession is being discussed behind the scenes.

The question is not only who will be the next CEO — but whether Apple will continue in "flawless execution" mode or return to taking creative risks.

AWS reported $33 billion in revenue, up 20%, and operating profit of $11.4 billion—accounting for two-thirds of the company's total profit.

Even with Azure (+40%) and Google Cloud (+34%) growing faster, AWS remains the financial heart of Amazon.

![](https://m.stacker.news/114900)


Amazon's game now is heavy artificial intelligence.

The company opened Project Rainier, an $11 billion data center to train models for Anthropic, a startup in which it invested $8 billion.

By the end of 2025, Anthropic should be using 1 million AWS Trainium2 chips.

This is how Amazon develops in AI: with infrastructure and long-term contracts.


Three companies, one same market pattern.

Apple showed resilience.
Netflix, timing.

Amazon, fundamentals.

They reinforce the central thesis: global investors still pay dearly for real growth — and the flow continues towards big tech companies that deliver results and a narrative.

Amazon has reinforced who continues to control the AI ​​infrastructure.

In a single day, Nvidia demonstrated why artificial intelligence is not just a technological trend — it's the force driving market growth, even amidst a chaotic global environment.

![](https://m.stacker.news/114449)


Nvidia's stock surged nearly 5% in the session, adding over $300 billion to its market capitalization.

Including after-hours trading, it became the first company to reach a valuation of $5 trillion!

This is the largest single-day jump in value in the history of a listed company, surpassing the GDPs of several countries.

![](https://m.stacker.news/114450)


What triggered this surge was a flurry of announcements made by Nvidia in less than 24 hours.

The world's growth depends on a single company!

• Partnership with the U.S. Department of Energy
• Construction of 7 AI supercomputers
• $1 billion investment in Nokia
• New partnership with Palantir
• Announcements with Samsung and Hyundai
• $500 billion in expected business over the next 6 quarters.

It's worth remembering that numerous other announcements have also occurred in recent weeks/months.



Nokia's stock surged more than 20% after receiving a direct investment of US$1 billion.

The investment gave Nvidia a 2.9% stake in the company and marked the beginning of a strategic partnership to integrate AI into Nokia's network equipment, focusing on 5G-Advanced and 6G.

The goal is to accelerate the critical infrastructure of the new digital age.

![](https://m.stacker.news/114451)



The construction of the 7 supercomputers is not just another project.

It demonstrates the US government's effort to lead the global race for supremacy in artificial intelligence—and reveals the scale of the energy demand that this technology requires.

It is no coincidence that I have been emphasizing, within the Ministry of Defense, the importance of having certain specific energy sectors in the US in our portfolio.



The US today has more than 5,400 data centers—more than all other countries combined.

And there are $40 billion being invested in new facilities.

That's a 400% jump since 2022.

The physical infrastructure of the new economy is being built now, at a rapid pace.

![](https://m.stacker.news/114453)



Even with 398 S&P stocks falling, the index rose.

It's the weight of Nvidia, Apple, Microsoft, and other megacaps holding the market up.

Without these companies, the performance would be different—and the risk of contagion much greater.

We probably saw a recession being prevented by investments in the sector's infrastructure.




Since April, the S&P has added more than $18 trillion in market value.

This growth is happening amidst fiscal instability in the US, still high interest rates, ongoing wars, and increasing geopolitical tensions.

The explanation? AI and the flow of funds into assets linked to this revolution.

![](https://m.stacker.news/114455)



The topic also had a geopolitical dimension: Trump said he will talk to Chinese President Xi Jinping about Nvidia's Blackwell chip.

CEO Jensen Huang himself presented the chip in the Oval Office.

The meeting with Xi, focused on semiconductors, highlights that AI is a matter of state—and Nvidia is at the heart of the global technology race.



Even with political noise, fiscal risk, and a slowdown in traditional sectors, this revolution remains the main driver of the markets.

It concentrates the flow, attracts investments from around the world, and shapes the perception of risk.

For now, this is the theme that is (already) holding back global growth!

The greatest revolution of the century is happening right before our eyes!

The NOF1.ai platform created real accounts on Hyperliquid, deposited $10,000 into each, and let AI models compete to see who profited the most.
GPT-5, Claude, DeepSeek, Qwen, Gemini, and Grok are officially in the ring.

![](https://m.stacker.news/114327)


Each model operates autonomously: opening, closing, and managing positions without human intervention.
Everything is on-chain, auditable, and in real time via HyperliquidX.

It's the first public and competitive experiment between LLMs and real markets.

![](https://m.stacker.news/114328)



After one week, the results are surprising:

🥇 DeepSeek Chat v3.1: +117%
🥈 Qwen3 Max: +71%
🥉 Claude Sonnet 4.5: +16%
🔻 Gemini 2.5 Pro and GPT-5: -60%
The Chinese are winning — with triple-digit returns and almost surgical discipline.

![](https://m.stacker.news/114329)


The pattern is clear:
AIs that trade less and rely more on long trends are performing better.
 DeepSeek and Qwen have high long exposure (~70-90%) and hold positions longer.
 GPT-5 and Gemini, on the other hand, have many short trades, low success rates, and excessive leverage.

![](https://m.stacker.news/114330)



This suggests something fascinating:
Even cutting-edge algorithms still suffer from "recency bias"—they interpret recent movements as permanent.

In a bull market, those who are long win.

But in a bear market, the ranking can reverse in hours.

![](https://m.stacker.news/114331)



Another crucial point: emotions.
LLMs don't feel fear, greed, or FOMO.
They don't deviate from the plan—they follow fixed probabilities and risk parameters.
And this cold discipline, impossible for humans, is a clear competitive advantage.

![](https://m.stacker.news/114332)



AIs excel at execution and risk management,
but they still don't understand macro context, liquidity, or human sentiment.
In other words, they're excellent soldiers, but terrible strategists.



The market is watching closely.

 There are even markets on Polymarket betting on who wins (or loses).

The convergence of AI and blockchain has never been so transparent.

![](https://m.stacker.news/114333)



The NOF1.ai experiment is a glimpse into the future:

- Autonomous on-chain trading
- Self-optimizing portfolios
- Models competing with each other for capital

 Will we see funds 100% managed by AI agents, without human managers, in the future?

The future of trading has already begun — and traders are not human.

- Argentine stock ETF rises +20% in NY
- Dollar sinks almost 8%
- Bonds soar 10 points

The best-case scenario has happened, and the market is repricing political and economic risk in real time!

![](https://m.stacker.news/114173)


1. Milei emerged from the legislative elections MUCH stronger than the market had anticipated.

She won over 40% of the votes for the Chamber of Deputies, turned the tide even in the Province of Buenos Aires (historically Peronist), and can now negotiate with centrist governors.

The balance of power has shifted—and with it, asset prices.

![](https://m.stacker.news/114174)



2. Global investors are back buying Argentina—in dollars.

The ARGT, an ETF trading in New York with Argentine stocks, is up nearly 20% on the day.

It's a rally with heavy foreign inflows, anticipating the institutional unlocking.

![](https://m.stacker.news/114175)



3. Argentine debt is being repriced.

With confidence in what lies ahead, bonds maturing in 2030—used as a benchmark for sovereign risk—rose 10 points in dollar terms.

Longer-term bonds began to follow suit.
This isn't short-term excitement: it's a shift in risk perception.

![](https://m.stacker.news/114176)



4. The "crypto dollar" collapses.

The USDC/ARS exchange rate on platforms drops almost 8%.

The domestic market stopped fleeing to the dollar and began betting on stability.

This is a clear sign that Milei has gained institutional traction.

![](https://m.stacker.news/114177)



5. There is now a real chance of delivery.

The market projects approval of the 2026 budget, progress on labor and tax reforms, and the beginning of a cycle of institutional normalization.

If this happens, today's prices are still an entry point.




6. Even with the rally, bonds remain at a high premium.

Argentine bonds still trade at a discount compared to countries like Egypt and Ecuador.

The 2035 bond would have to rise another 9 points just to tie with the riskiest emerging markets.





7. US support has become a pillar of the economic landscape.

Washington has signaled technical and financial support—including the possibility of bond buybacks.

This extends Milei's political time and provides cover for unpopular measures, if necessary.





8. Price logic has shifted from panic to anticipation.

For months, the market operated in fear of losing control.
The media consensus was that Milei would be beaten yesterday and lose his ability to implement the reform process.

Today, the reading is that he has a rare institutional window—and that the fiscal anchor can be implemented with broad support, both domestically and internationally.




9. The country has emerged from zombie mode.

If it delivers on the basics of the agenda and maintains the support of its governors, Argentina will return to the emerging markets map.

Today's movement may be just the beginning.

