The filing—all SEC filings read like passive-aggressive notes from a very organized accountant—revealed they scooped up 1,411,985 shares of the Vanguard 0-3 Month Treasury Bill ETF. VBIL, they call it. Sounds like a vitamin. I keep expecting it to promise improved energy levels, or at least a slightly better complexion.
Currently, Rivian is churning out delivery vans and exceedingly expensive motorcars. A sensible strategy, really, given the limited production. Building automobiles, you see, is a frightfully costly business, and erecting factories even more so. When one has only a handful of vehicles to spread the expenses over, one is obliged to charge a pretty penny for each one. A bit like a particularly exclusive club, wouldn’t you agree?
The Bitwise Crypto Industry Innovators ETF (BITQ) – a fund that invests in the companies building the crypto ecosystem, rather than the tokens themselves – has largely been ignored in the recent frenzy. This is not surprising. In a world obsessed with immediate results, the idea of investing in the infrastructure, rather than the commodity, is often dismissed as overly cautious, or simply too slow. But perhaps caution is warranted.
It started with a William Blair upgrade. Which, let’s be honest, is always a nice ego boost for the stock. And then, the earnings. They actually… beat expectations. Shocking. I mean, genuinely, I was bracing for a dip. I’d already mentally prepared the email to clients explaining how ‘market volatility’ was a ‘buying opportunity’ (the classic). Volume was a healthy 54.3 million shares – almost 2% above the three-month average. People are paying attention. It’s been quite the run since the IPO in 2020 – up 1,456%. Which is… a lot. I’m starting to feel vaguely irresponsible.
Today, the markets stirred, a hesitant awakening after a week of fitful sleep. The S&P 500 (^GSPC +0.54%) rose, a subtle lifting of the veil, closing at 6,976.44. The Nasdaq Composite (^IXIC +0.56%) followed, a shimmering mirage reaching 23,592.11, while the Dow Jones Industrial Average (^DJI +1.05%) climbed with the weary dignity of an old patriarch, settling at 49,407.66. It was a recovery, yes, but one tinged with the melancholic awareness that every gain is merely a loan from the future.
They’ve got plans. Big plans. But plans are cheap. Execution is what separates the winners from the wreckage. I’d been looking at this company for a while, trying to find the angle. The thing that would make it more than just another high-flying dream.
The position, which previously accounted for a mere 1.0% of Hussman’s assets under management – a rounding error in the grand scheme, really – has vanished. One imagines the portfolio managers, with a sigh of resignation, reallocating the funds to something less… problematic. The markets, of course, remain impervious to such personal dramas.
As of 5:35 p.m. Eastern, Palantir stock is up 5.1% from its closing price of $147.76. Which, let’s be honest, is enough to buy a rather nice codpiece… or a small fraction of a yacht. Depends on your priorities, doesn’t it?
One observes, with a certain melancholy, the calculations of these portfolio managers. They are not driven by affection for the companies they hold, nor by any grand vision of progress. Rather, they are bound by the cold logic of percentages, of risk mitigation, of the relentless pursuit of incremental gains. To sell, even a portion of a promising venture, is not necessarily an indictment of its future, but a testament to the limitations of even the most ambitious portfolios.
The company secured a contract under the U.S. Missile Defense Agency’s Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) initiative. While the precise financial implications remain to be quantified, the contract represents a potential diversification of revenue streams beyond the company’s core broadband service offering. The stated objectives of the contract – “rapid delivery of innovative capabilities” – suggest a focus on agility and responsiveness, characteristics often prioritized in defense sector engagements.