Q1 2026 Investor Letter is out. Despite the volatility following the outbreak of the Iran war, the portfolio delivered a 12.3% return compared to -4.6% for the S&P 500. Key highlights include: - Portfolio Resilience: Navigating the quarter with a modest 2.15% max monthly drawdown and a Sharpe Ratio of 2.80. - Strategic Themes: Why energy security, the renewed defense mandate, and U.S. fiscal fragility remain my core focus areas. - Risk Management: Tactically raising the cash position and maintaining active hedges as we navigate the ongoing uncertainty. DM me if you would like a copy of the letter.

I JUST GAVE AI $10,000 OF MY REAL MONEY TO INVEST IN THE STOCK MARKET I told my AI Agent to beat the stock market over the long term and don't get me a huge tax bill doing it This is what the AI bought for me: $1,470.88 of Nvidia $NVDA $1,176.58 of Taiwan Semiconductor $TSM $1,176.56 of Amazon $AMZN $1,176.54 of Microsoft $MSFT $981.36 of Eli Lilly $LLY $980.64 of Broadcom $AVGO $783.23 of Google $GOOGL $30.65 of Google $GOOGL $24.69 of Visa $V $24.69 of Eaton $ETN $24.68 of Intuitive Surgical $ISRG $2,100 of available cash I will keep you all updated going forward on how this goes 🫡

Trump: "Only I can make this promise to you: If the Republicans win the House and Senate, I will issue a dividend to every adult citizen in the United States of America for $5,000"

HUNTER BIDEN TO LAUNCH $LAPTOP MEME COIN, SOURCES SAY -- WSJ HUNTER BIDEN'S $LAPTOP MEME COIN TO LAUNCH SEPT. 9 ON COINBASE-AFFILIATED BLOCKCHAIN, SOURCES SAY -- WSJ HUNTER BIDEN, FOUNDERS OF $LAPTOP TO HOLD 30% OF 1B TOKENS ISSUED, SOURCES SAY -- WSJ ANOTHER $LAPTOP ALLOTMENT TO GO TO PEOPLE WHO LOST MONEY ON solana:6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN, AMONG OTHERS, SOURCES SAY -- WSJ

Breaking: Kalshi issued its first-ever lifetime ban to George Santos after the ex-congressman allegedly made bets on his own attendance at a Trump speech on.wsj.com/4qJWDOC

OUT NOW- WHAT IF IT'S STILL EARLY? @erik_ywr on: - why he expects S&P MELT-UP to 10,000 by 2027 - earnings growth ENORMOUS (bears are in denial) Apple🔊shorturl.at/pBZoA Spotify📽️shorturl.at/wLuvi YouTube📽️rb.gy/c6tb88

Trump on Taiwan: When you look at the odds, China is very, very powerful, big country. That's a very small island. Think of it, it's 59 miles away. We're 9500 miles away. That's a little bit of a difficult problem. Taiwan was developed because we had presidents that didn't know what the hell they were doing. They stole our chip industry.

Greg Abel had Warren Buffett speak at start of the 2026 Berkshire Hathaway AGM. Buffett spent most of it praising Tim Cook, seated a few rows behind next to John Ternus. Since 2016, Berkshire’s $35B initial investment officially grew to $185B. “About 10 years ago, we made a commitment to move 10% of Berkshire Hathaway resources and turn it over to a person who was not well known at the time. We did that by roughly spending $35B to buy stock in Apple. We turned that money over to Apple to essentially make Berkshire look good without any work by us…which is our preferred way of operating. Ten years later, the $35B — counting dividends, realized appreciation and unrealized appreciation — has turned into $185B pretax. And I didn’t have to do a damn thing. Our largest holding is still Apple [$60B+]. When Tim Cook went into the top position at Apple [in 2011], he succeeded a legend. Steve Jobs. Everyone in America knew his name. Not many knew Tim’s name. Steve did these marvelous things, developing products and he had an untimely death. Everyone asked who would run the company. […] How would you like to step in the shoes of Steve and come through with [Cook’s record]? It’s one of the miracles of American business management. Anyway, thank you Tim.”