It’s a curious thing, mind you. Amazon, that purveyor of everything under the sun (and a good many things that ought to remain under the sun), and Costco, that warehouse full of bulk bargains, are headin’ into 2026 lookin’ mighty different. Amazon’s been spendin’ money like a drunken sailor, while Costco’s been sittin’ pretty on a pile of membership fees. And yet, it’s Amazon that’s growin’ faster, a fact that’d give old man Scrooge a fit of the vapors.
Below these titans, one finds Meta Platforms, currently valued at a more modest, yet still considerable, sum. It is a company that has, in recent years, undergone a transformation, a shedding of its former skin, and now seeks to establish itself upon new foundations. Whether this endeavor will prove successful remains, as with all things, uncertain.
It’s a new position for them, which is…interesting. It represents 10.45% of their 13F reportable AUM as of December 31st, 2025. Which is a commitment. A statement. I, meanwhile, am still trying to decide if oat milk is a worthwhile investment.
Two such enterprises have caught our eye: MercadoLibre (MELI +1.01%) and Toast (TOST 1.51%). Both are currently trading at valuations that suggest either profound skepticism or, more likely, a temporary lapse in collective reason. A discerning investor, one who appreciates a well-constructed scheme, can capitalize on such moments.
Currently, Oklo generates no revenue. Its prospects hinge on the successful development and commercialization of technologies that remain, at this juncture, highly speculative. The recent surge in valuation, fueled by the demands of energy-intensive artificial intelligence data centers, appears disproportionate to the demonstrable progress made. One observes a familiar pattern: optimism outpacing reality.
But things, apparently, are looking up. Or so they say. The company is, shall we say, regaining momentum. It’s a curious phrase, “regaining momentum,” as if momentum were a lost set of car keys. Still, they’ve got a project in Romania, which is promising. Six small modular reactors, enough to power a moderately sized city, slated for operation in 2033. That’s a good seven years away, of course. Plenty of time for unforeseen complications, geopolitical shifts, or, frankly, just a change of heart. It’s like building a cathedral – you start with enthusiasm and end with a nagging sense of exhaustion.
Several sharp-eyed (or perhaps just lucky) traders anticipated the Feb. 28 strike with the precision of a Swiss watchmaker. One particularly audacious bettor reportedly staked $60,000 three days in advance and walked away with $500,000. If this were a casino, they’d probably ban them for cheating and then sue them for the thrill of it.
Let’s dissect this, because, frankly, I have nothing better to do. And because the sheer audacity of restaurant stock valuations is… well, it’s something.
One can rearrange the deck chairs, of course. Attempt to steer a course through the gathering storm. A futile gesture, perhaps, but a necessary one. These are the motions I make, not with optimism, but with a quiet resignation, a bracing for the inevitable pressure.
In a proclamation issued on the 27th of February, the Connecticut bard of bureaucracy lamented that insiders, armed with foreknowledge of the world’s tumultuous affairs, dare to profit from the very chaos they may or may not have whispered into existence. A tragedy, indeed, wrapped in the velvet cloak of capitalism.