Ninisweet

DeepSeek just raised a few hundred billion.
Liang Wenfeng said that if they can spend $20 billion on buying cards this year, that would mean the procurement team’s performance is super strong.
The biggest anxiety for a CEO is not being able to spend the money.
He worked out the math: converting the funds into NVIDIA cards would pay back in ten months. With the bank deposit annualized yield at 2%, his strategy is to buy as many as possible, with no upper limit on spending speed.
Then he said that actually spending all that money is very difficult—cards are unavailable, hard to get, and

You’re talking with someone about getting married.
You’re planning to hand over all your savings to that person.
You don’t know the person’s income, you don’t know their credit history, and you don’t know whether they have any debts. You’ve only talked to them a few times, and you think they’re really nice.
Would you marry them? You wouldn’t.
You’d go crazy digging into their background—checking whether they have a criminal record, checking their salary transaction history, and checking why his ex left him.
Your strategy is the one you plan to marry.
Backtesting means checking its

Many people invest in both VOO and QM at the same time, thinking that this diversifies their risk.
In reality, you are just buying the same companies—NVIDIA, Apple, Microsoft, etc.—twice.
VOO tracks the S&P 500, while QM tracks the Nasdaq 100. The overlap in the top ten holdings is over half, with core companies like NVIDIA, Apple, Microsoft, Amazon, and Broadcom ranking high in both.
Many people think that adding QM increases their AI exposure. In fact, you are just adding more of the same batch of companies, only with a more concentrated position.
The real difference between the two

I recall quite a few people were recommending $crcl , but why did it drop so much today 😵?

Tonight the Federal Reserve is meeting, and many people are waiting to see whether they will cut interest rates.
There’s no suspense about this tonight—rates will stay unchanged, which is already the market consensus.
There are two things truly worth watching.
First is the dot plot. The probability of a rate cut this year has shifted to “on hold,” but if the dot plot sends a more dovish signal than expected, the valuation pressure on tech stocks will directly ease.
Second is how Waller speaks. He’s the new chair, with a style completely different from Powell’s, and tonight marks his fi