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There is much chatter, naturally, about the President’s pronouncements on trade – tariffs and the like. These are presented as potential calamities, as if a few well-aimed duties could bring the entire edifice crashing down. While such policies are not without consequence, to fixate upon them as the primary threat is akin to blaming the footman for the master’s folly. The true dangers, I assure you, lie deeper, concealed within the very mechanisms designed to safeguard our prosperity.

There are these prediction markets now. People bet on things. Political races, the weather, whether Bitcoin will hit a hundred and fifty thousand dollars by 2026. The markets say eleven percent. Eleven. That’s a low number. It peaked around one hundred and twenty-six thousand before, a while ago.

The management, one gathers, isn’t averse to a spot of forward thinking. Which explains the rather astonishing performance of late – a 647% ascent over a decade, and a positively vertiginous 11,500% over twenty years. Figures that would make even the most hardened gambler raise an eyebrow.

Quanta Services, Vertiv, and Eaton… these are not names that stir the soul. They do not promise revolution, only competence. And yet, it is competence, reliably delivered, that underpins all things. Quanta, with its knack for connecting power to these digital fortresses, seems particularly well-positioned. They’ve been acquiring companies – Cupertino Electric, Dynamic Systems – not with fanfare, but with the steady hand of a seasoned gardener tending to his vines. A backlog of forty-four billion dollars… it’s a comforting number, isn’t it? Suggests a certain… stability. Goldman Sachs predicts a growth of 17-18% in earnings per share. A respectable figure. Though, one wonders, how long can such growth continue? The world is rarely so accommodating.

Bank of America, a behemoth whose tendrils reach into the very foundations of American finance, finds itself conspicuously absent from this designated eternity. It is the fourth-largest holding, a substantial weight in Berkshire’s vast portfolio, yet unacknowledged as “core.” One recalls the apocryphal treatise of the Alexandrian scholar, Ptolemy Philometres, who posited that all great fortunes are built upon a foundation of deliberate silences. Berkshire’s involvement began in the aftermath of the Great Recession, a transfusion of capital in 2011 yielding warrants exercised in 2017—a transaction that echoes the alchemical dreams of transforming base metals into gold.

There are, admittedly, a few points in Amarin’s favor. The balance sheet, for instance, is…unburdened. No long-term debt, a cash reserve of nearly $135 million, and short-term investments totaling just under $168 million. This suggests a certain financial robustness, a capacity to sustain operations for a while. (Though, one must always remember that money, like time, is a relentlessly flowing river, and even the most substantial reserves eventually erode. It’s a fundamental principle of the universe, really.) In 2025, Vascepa managed to generate nearly $183 million in revenue. And the aforementioned restructuring has, at least on paper, reduced costs. Management anticipates positive free cash flow in 2026. A debt-free company with positive cash flow is, under normal circumstances, a mildly encouraging sign.

Basically, they’ve cleared house. Sold the lot. It’s a bit like realizing you’ve been dating someone for six months and then they casually mention they’re moving to Mongolia. Unexpected. And potentially expensive.

This reduction lowers InterDigital’s weight to 3.71% of the fund’s total assets, a descent from the previous 4.947%. One is reminded of a celestial sphere, where the relative brightness of a star signifies not its inherent power, but its proximity to the observer. The fund’s other significant holdings – $282.09 million in SMCI and $281.40 million in EXE – remain steadfast, like fixed points in a fluctuating cosmos.