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The fund has performed adequately, buoyed by the persistent, and perhaps irrational, demand for a tangible store of value. A hedge against inflation, against the encroaching uncertainty that seems to permeate every transaction. It has tripled in value over five years, a statistic which, upon closer inspection, reveals only the accelerating rate of our collective anxiety. However, the iShares Silver Trust (SLV +2.94%) presents a more… compelling, if unsettling, proposition, particularly following the recent, and largely unexplained, correction. It is a matter of observing the currents, not merely the surface ripples.

Okay, so they’re remarkably similar. Like, suspiciously so. Expense ratios are basically a coin toss, but FTXG is dangling a slightly sweeter dividend yield. Tempting, isn’t it? It’s the equivalent of someone offering you a free sample. You know you shouldn’t, but… well, free.

Three companies, each a titan in its own right, currently find themselves subject to this temporary disfavor: Microsoft, The Trade Desk, and Nvidia. To consider them merely as ‘stocks’ is to diminish their true significance. They are, rather, embodiments of human ingenuity, engines of progress, and, for those with the foresight to recognize it, potential sources of enduring prosperity. To invest in them now is not a gamble, but a reasoned act, a recognition of underlying strength amidst superficial turbulence.

Nvidia and Advanced Micro Devices, then. A perfectly predictable pairing. One, the established bore, the other, the slightly hopeful upstart. Let’s dissect, shall we?

This momentary weakness, naturally, has stirred the vultures – or, as they prefer to be called, ‘investors.’ A valuation, they murmur, hasn’t been this… reasonable… since the early decade of the teens. A fleeting respite, one might say, before the inevitable return to stratospheric heights. Or, perhaps, a prelude to something… less celebratory. The air, you see, is thick with speculation, and the scent of desperation.

The company’s fortunes remain inextricably linked to the volatile price of Bitcoin, a digital construct whose value seems determined by forces beyond rational analysis. Riot Platforms currently holds a substantial quantity of this asset – over 18,000 units, according to reports – a holding which, at present exchange rates, translates to approximately $1.2 billion. This figure, however, is not a foundation, but a shifting sand, susceptible to the whims of an indifferent market. The balance sheet, thus, is less a statement of financial health and more a detailed inventory of a precarious position.

The acquisition, recorded on the 13th of February, 2026 – a date which, I assure you, holds no particular significance – consists of 952,074 shares. A tidy sum, certainly, and enough to constitute 7.4% of Barrier Capital’s reported assets. One pictures the firm’s portfolio manager, a man likely burdened by the weight of countless spreadsheets and the perpetual scent of desperation, meticulously adding these shares to the ledger, a small, almost imperceptible tremor in his hand.

There are companies, naturally, that are positioning themselves to not merely survive a potential downturn, but to thrive in it. To scoop up the remnants of shattered dreams and turn them into… well, more algorithms. And one, in particular, is looking remarkably well-equipped. It’s a name you’ve almost certainly heard before, mostly because it’s been attempting to index the entire world for the last couple of decades.¹

They report earnings on February 18th. Which, frankly, is a little too close for comfort. I always feel pressured when a financial decision has a deadline. It’s like being asked to pick a favorite nephew. Impossible. Still, the question is whether to buy before the report, or wait and risk missing whatever brief rally might occur. It’s a dilemma that keeps me up at night, alternating between spreadsheets and imagining the disappointment of my financial advisor.

And within this field, those who understand the very nature of the coming storm – the artificial intelligence itself – are best positioned to thrive. This brings me to Rubrik (RBRK +2.46%). The market has, with a characteristic impatience, marked it down – more than 45% from its peak, as if a promising sapling had been carelessly pruned. Yet, beneath the surface, the roots run deep, and the growth is undeniable. It presents, to my eye, a compelling opportunity.