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Nvidia, once content to amuse with digital worlds, now powers the engines of calculation that shape our realities. They feed on data, and the hunger is insatiable. OpenAI, Microsoft, Meta, even Google – they all kneel before the altar of Nvidia’s GPUs. It’s a comfortable position, a monopoly built on silicon and CUDA, a proprietary language that locks customers in like serfs to a lord. AMD attempts to challenge, but it’s a slow climb against a fortified wall. The big companies build their own, of course, but even they find it cheaper to rent the tools than to forge them anew.

Let’s be clear. Mr. Abel isn’t Warren Buffett. A rather obvious statement, wouldn’t you agree? But the notion that Berkshire is about to veer wildly off course is simply dramatic. The gentleman spent decades under the old regime, absorbing the… eccentricities. He’s not likely to dismantle a perfectly functional, if somewhat antiquated, system overnight. And, rather crucially, he’s still answerable to the Oracle himself, who remains on the board, presumably to ensure things don’t become too terribly modern.

The impatience of the market is a familiar affliction. Investors, ever seeking immediate gratification, have questioned the magnitude of Amazon’s capital expenditures, a sum exceeding one hundred and twenty-five billion dollars for the past year. Such a commitment, unprecedented in its scale, has been viewed by some as reckless, a dissipation of resources. Yet, it is precisely this willingness to invest beyond the immediate horizon that defines Amazon’s character. While others reap the superficial rewards of readily available technologies, Amazon is constructing the very foundations upon which the future will be built. The difference is subtle, but profound, like the distinction between harvesting fruit from an existing tree and cultivating an orchard for generations to come.

By the close of 2025, however, the narrative began to shift. Roblox didn’t suddenly discover the virtues of austerity, but it performed a far more subtle feat: it reset expectations. Growth, like a well-bred horse, found its stride again. Monetization options, once limited, began to bloom. And the creator ecosystem, that hive of digital industry, deepened in ways that clarified both the potential and the inherent limitations of the enterprise. It is always the limitations that prove most diverting, don’t you think?

The recent pronouncements – the quarterly earnings, the projections – were, by conventional measures, sound. A growth of seventeen and six-tenths percent in revenue, earnings per share exceeding expectations. Yet, the stock retreated. A curious thing, isn’t it? To offer fruit and receive a stone in return. It suggests a deeper current at play, a disquiet that numbers alone cannot assuage.

There is a peculiar alchemy at play in these times, a shifting of fortunes that has little to do with logic and everything to do with the enduring human need for connection, for creation. The so-called “experts,” those who chart the course of empires with their spreadsheets and predictions, missed it entirely. They saw only the numbers, the quarterly reports, the ebb and flow of capital. They failed to understand that even the most sophisticated algorithms cannot account for the weight of a human hand, the tremor in a voice, the quiet desperation of a dream deferred. And so, they declared certain ventures vanquished, certain stocks abandoned, while the true seeds of resilience lay dormant, waiting for the rain.

For a year past, the shares of this company have ascended with a vigor most pleasing to the eye – a gain of some sixty-two percent, if my calculations serve me correctly. A princely sum, indeed! And the portents suggest that this upward trajectory shall continue, for the demand for these minuscule marvels shows no sign of abating. The year 2026, they say, promises further bounty. But let us not be swept away by mere optimism. A discerning investor, like a seasoned physician, must examine the patient – in this case, TSMC – with a critical eye.

Federal Realty, for the uninitiated, is a REIT that specializes in strip malls and mixed-use developments. Not exactly glamorous, perhaps, but remarkably stable. They’ve been increasing their dividend for 58 consecutive years, which is…well, it’s a streak. It’s the kind of consistency that makes accountants weep with joy. Their yield is a respectable 4.3%, which isn’t going to make you instantly wealthy, but it’s enough to suggest they’re not building castles on quicksand. It’s roughly four times the yield of the S&P 500, which, let’s be honest, feels a bit like bragging about having a slightly larger collection of bottle caps than your neighbor. Still, it’s a point in their favor.