Of course, the past is a phantom, a ghost of transactions completed. It offers no guarantee, only a suggestion. But consider this: should Visa maintain even half of its former rate of increase, the yield on an initial investment will, in time, become a veritable orchard. A yield of 11% – a comforting weight in the portfolio, a source of quiet sustenance. It is not a sudden windfall, but a steady accumulation, a rhythm of value built on the ceaseless flow of exchange.
Shares have, indeed, skyrocketed – a vulgar word, that, suggesting a sudden, undignified expulsion upwards. They’ve also managed to forge an alliance with Merck, a collaboration involving “companion diagnostics” and the marketing of new cancer therapies. The very phrase sounds like a gathering of dubious characters in a dimly lit apothecary, concocting potions with uncertain results. The Infinity Smart program, a name that promises far more than it likely delivers, is at the heart of it all. One pictures a vast, automated system, humming with the quiet desperation of algorithms seeking… what, precisely? Profit, naturally. But at what cost to the soul?
That cryptocurrency, predictably enough, is Bitcoin (BTC 6.23%). Now, I know what you’re thinking. Bitcoin? The one everyone was talking about in 2021? The one that promised to revolutionize everything? Yes, that one. But bear with me, because amidst the hype and the occasional bubble, there’s a rather compelling case to be made.
We’ve been watching this sector, the semiconductor country, for some time now. And it seems the iShares Semiconductor ETF (SOXX +0.19%) is positioned to reap a good yield in 2026.
The aggregate return of nearly 6,100,000% achieved under Mr. Buffett’s stewardship is a statistic easily recited, but difficult to grasp. It speaks to a disciplined approach, a resistance to speculative frenzy, and a consistent application of fundamental analysis. These were not accidental successes, but the predictable outcome of a defined methodology. However, even the most rigorously applied system is susceptible to human fallibility, or, in this instance, a perceived shift in geopolitical risk.
The gold fund, one notes, has also eclipsed the broad advance of the S&P 500 (^GSPC 0.13%) – by twenty-three percentage points year to date, and a substantial fifty-two over half a year. Two figures, familiar to those who navigate the labyrinthine corridors of high finance – Israel Englander of Millennium Management and Ken Griffin of Citadel Advisors – have, with a prescience that borders on the uncanny, increased their holdings in this ancient refuge. Mr. Englander added 104,900 shares in the third quarter, a modest addition to his portfolio, less than one percent, yet significant in its direction. Mr. Griffin, more decisively, acquired 255,100 shares, and further secured his position with call options – a clear indication of conviction. These are not impulsive men, these two. They have witnessed cycles, endured storms, and learned to read the subtle shifts in the prevailing winds.
I have alighted upon two candidates, somewhat battered and bruised, yet possessing a certain je ne sais quoi: XRP and Sui. Both have experienced a regrettable fall from grace, which, naturally, presents the discerning investor with an opportunity. The truly elegant acquisition is rarely made at the peak of enthusiasm.
Yet, even in this relentless march forward, there are shadows, intermediaries. NextEra Energy, a name that lacks the luster of its Silicon Valley counterparts, quietly assumes a vital, if unglamorous, role. It is the unseen hand providing the current, the very lifeblood, to these digital behemoths. A utility, one might say, in the most literal, and therefore most enduring, sense of the word.
Lisa Su at CES. A woman who understands the geometry of greed. She dropped a number: 1 zettaflop to 100 zettaflops since 2022. ZETTAFLOPS! Try wrapping your brain around THAT one after a triple espresso and a questionable breakfast burrito. It’s exponential, man. Pure, unadulterated exponential growth. And she’s saying it needs to increase another 100-fold in the next five years? That’s not a prediction, that’s a declaration of war on the laws of physics.
Earnings drop next week. A chance to prove something. Or to confirm the obvious. I’m watching. Not with hope, mind you. Just a professional curiosity. Like a doctor examining a patient already on life support.