George Soros: "I don’t like working. I do the absolute minimum necessary to reach a decision. There are people who love working. They amass an inordinate amount of information, much more than is necessary to reach a conclusion. They become attached to certain investments..."

$ATD as we have predicted… x.com/zeroxpectation…

Hire someone smarter, hand them the keys, and step aside—that’s real leadership without ego. $BRK $CSU

I’m taking a humbly arrogant approach — holding the conviction that I’m right, while remaining fully aware I could be wrong. Investing is a loner’s game.

The split of AI capital investment is ~60% private funding & ~40% public funding.

In 1H25, demand for software engineers was 35% below pre-pandemic levels. But demand for engineers in the accounting & legal sectors was 20% higher, as these firms are proactively hiring to accelerate AI-driven transformation—essentially, being hired now to be replaced later.

I continue to avoid investing in companies with sub-par capital allocation, regardless of strong core fundamentals and compelling short-term catalysts. I’m in it for the long haul, not chasing tactical trades. Short-term realized gains just give me unnecessary tax headaches.

Short-form reading –Offers speed & convenience –Broadens knowledge quickly –Sharpens skimming & filtering skills Long-form reading –Builds deep focus & critical thinking –Enhances empathy & memory –Promotes mental relaxation Together, develop depth & breadth in learning.

Believing something to be true has nothing to do with whether it is true.

Neil deGrasse Tyson says, "One of the great challenges in life is knowing enough about a subject to think you're right, but not enough about the subject to know you're wrong."

$CSU

$CSU Q3 acquisitions so far appear to be at the higher end of their historical range. Great!

It’s interesting to see how $CSU shares declined ahead of the 2Q revenue & profit misses. DJ’s rev estimate appears to be an outlier, average consensus is ~$3B. That said, long-term shareholders pay little attention to quarter-to-quarter results. They’re largely meaningless.

Just for fun: As of Sunday 11:45 PM EST, $CSU pre-market bids and asks—following last Friday’s results—point to a potential asymmetric upside at Monday’s open. The spread will likely narrow as we approach the opening. Take it with a pinch of salt.

$CSU indeed had an asymmetric jump at the opening. Lol

I really enjoyed yesterday’s interview. I agree with Jason Hirschman . There is still lots of value in Japan for those willing to do deep research. I’ve been researching Japanese micro- & small-cap stocks for a while now. The inefficiencies there remain despite the rise of AI.