I lost count of how many articles, posts, and analyses I have written over too many years documenting what was REALLY happening in the AI space, as opposed to what was happening according to the fantasies and stories broadcast non-stop by all actors with various degrees of vested interest in…
ON WALL STREET, NOBODY CARES ABOUT CRUDE OIL; THEY ALL CARE ABOUT WHEN THE AI BUBBLE IS GOING TO BURST
In the current circumstances, you might expect the worsening crude oil crisis to be at the top of every trader’s mind. However, based on all my conversations so far, confidence is so high in governments’ capabilities to avoid shortages of crude oil and distillates that the risk is, at best,…
WHY IRAN MIGHT BE ON THE VERGE OF DELIVERING A SHOCK TO GLOBAL FINANCIAL MARKETS
Today is July 15, 2026, and as I write this article, we are nearly five months into the conflict between the United States, its allies, and Iran in the Middle East. A conflict that, in the minds of the US military strategic panel, was supposed to last perhaps 48 hours….
META JUST THREW A WRENCH IN THE AI BANDWAGON
Yesterday, when I first read the Bloomberg headline “Meta Is Planning a Cloud Business to Sell AI Computing Power,” the first thing I instinctively thought was, “Selling AI computing power to whom, exactly?” AI labs are currently split into two categories: those who built their own infrastructure and those who…
THE JPY IS ON THE BRINK OF IMPLODING
While everyone’s attention is polarized by anything involving the peace negotiations between Iran and the US, negotiations that, to be fair, have been more like a “these are my requests, take it or leave it” from Iran and “Ok ok, we take it” from the US, the JPY has been…
HAS THE NVIDIA CASH COW STOPPED PRODUCING MILK?
This is what I wrote about 3 weeks ago in “NVIDIA IS NOW VERY CLOSE TO HITTING THE CIRCULAR FINANCING BRICK WALL”: “Personally, I would not even be shocked if, in several months, Nvidia surprises the market and tries to raise significant amounts of debt via bond issuances, like other…
THE UNHAPPY ENDING OF THE WHOLE AI DREAM
While I was waiting for Oracle numbers, a very interesting headline came out: “China plans $295bn state-directed AI buildout as Beijing moves to lock out Nvidia and AMD”. This is what I wrote about 8 months ago in “THE DATA CENTERS FRENZY WILL BE REMEMBERED AS THE LARGEST WASTE OF…
ALPHABET EQUITY RAISE: A BOLD MOVE OR A GIANT MISTAKE?
On Monday, after US markets closed, Alphabet (the parent company of Google) issued a press release that took investors by surprise (to say the least): “Alphabet Announces Proposed $80 Billion Equity Capital Raise to Expand AI Infrastructure and Compute.” On the surface, Alphabet claims that, despite sitting on almost $127…
NVIDIA IS NOW VERY CLOSE TO HITTING THE CIRCULAR FINANCING BRICK WALL
Two years ago, I wrote the article “NO, NVIDIA IS ONLY ONE PIECE OF A BIGGER (FRAUDULENT) PUZZLE”, trying to shine a light on what, two years later, became the biggest circular financing scheme in the history of financial markets. Since what I was describing at the time was hard…
SILVER: THE BEST TIME TO OWN IT, WORST TIME TO TRADE IT
What a great day Monday was for Silver investors, with the metal trading as high as 87$, up more than 7% on the day, while the rest of the market, from gold, to bonds, to stocks, was broadly flat. While I’m feeling pretty happy about the nominal gains in my…