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(Based on that SEC Form 4 weighted average price of $18.10. Which, let’s be honest, is just a number they want you to believe.)

To speak of ‘better buys’ is, perhaps, a vulgarity. The market does not offer solutions, merely choices framed by degrees of illusion. Yet, if compelled to discern, one must acknowledge the differing weight of their respective foundations. Or, rather, the differing lack thereof.

The figures, as reported, based on a price of $167.26 a share. Though, prices, like opinions, are subject to change, and often do, without a moment’s notice.

Broadcom makes the stuff that moves the data. Networking tech. Ethernet switches, DSPs, all that jazz. Basically, the digital plumbing. And when you cram a million chips into a room, you need some seriously good plumbing, or everything just…backs up. Like my life, really. They’re market leaders in this, apparently. Which means they’re charging a premium. Naturally.

Warner, you see, would have been a bit like inheriting a particularly grumpy dragon. Lots of treasure (content), yes, but also a tendency to breathe fire on anyone who looked at it funny (legacy systems, creative clashes, and the sheer weight of expectation). Netflix, it seems, decided a smaller, more manageable dragon was preferable. A sensible decision, frankly. Most heroes fall foul of overreach, not a lack of courage.¹

Transaction value is based on the SEC Form 4 weighted average purchase price of $16.50; post-transaction value is calculated using the March 18, 2026 market close price of $16.50.

Consider it a library, not of books, but of dividends – a vast, echoing hall containing the fractional yields of a thousand unseen companies. Each payout is a whispered fragment of profit, a momentary stay against the entropy of the market. The fund’s structure, with over 1,500 constituent holdings, is not unlike the Library of Babel, a universe of infinite combinations, where every possible investment, however improbable, is theoretically represented. The largest single holding, Roche, accounts for a mere 1.8% – a deliberate fragmentation, a rejection of the singular, the absolute.

The market, they say, offers returns. Ten percent, on average, over decades. A smooth, unbroken line on a chart, concealing the tremors and anxieties beneath. It is a hopeful figure, but hope, as one learns, is a precarious foundation. Still, let us indulge the calculation. Four hundred dollars, diligently invested, compounded over time. The numbers swell, of course. At five years, a respectable sum. Ten, a more substantial cushion. Fifteen… one begins to dream of possibilities, of a quiet retirement, perhaps, or a small cottage by the sea. Though, naturally, the sea is always more expensive than one anticipates.

He had not purchased shares in the company for three years, a silence broken not by grand strategy, but by an impulse as inexplicable as the migratory patterns of birds. The transaction, a substantial increase of 173.87% in his direct holdings, brought his total to 4,974,184 shares, a position now valued at approximately $12.0 million. It was a doubling of his exposure, a quiet wager against the uncertainties that clung to the horizon like a persistent fog. The numbers, precise and immutable, seemed to hum with a hidden energy, a resonance with the deeper currents of the market.

For years, Lucid has existed in a state of precarious imbalance, a financial tightrope walk above an abyss of debt. Each passing quarter has witnessed a further erosion of shareholder value, a dilution of dreams in the pursuit of fleeting liquidity. The stock, now a mere specter of its former self – down a staggering 98% – hangs precariously, a monument to ambition undone. One asks oneself, is this the nadir? Or merely a deceptive calm before a final, irreversible plunge?