Investments and Portfolios

Hi-it was 45%

We will publish something at the year end, given we are so close now. The file Nik refers to is model performance which will vary from actual portfolio performance because it is calculated month to month based on the model weights whereas in reality the daily real performance uses actual moving weights.. In a rising market it will understate the growth by 1-3%. Performance from the top is Tech, Lifestyle Growth, IM 100, Equity. The same applies to FX, month to month is not the same as daily because again, the compounding effect can either amplify or offset the overall monthly growth rate depending on the direction and magnitude on a daily basis. You also have what is called the 'Base Effect' where daily fx moves are relative to the prior day whilst monthly moves compare longer periods. When I state returns, they are actual portfolio returns. The Fact sheets use a point to point monthly performance. Hope that makes sense . The fact sheets(to November) are here near the bottom of the page https://www.cobensdirect.co.uk/literature-library

You aren't wrong O! How can the West compete when, for example, we have min wages/conditions, limits on fossil fuel use and regulations which others may even sign up to but simple ignore them. It's not a level playing field. We could go on however this is a great job for DT to get stuck into And fishing vessels that catch more fibre optic cables than fish

Minor update: remember that token £1 which I moved to Schwab's UK bank account? It arrived back in our UK bank account yesterday, with a message saying something like "Transaction bounced". I guess something went wrong somewhere so I'll chalk this one up as 'one of those things' and have another go (perhaps). Perhaps with £100 this time, which is hopefully enough not to get lost. Thanks for your help.

Earlier week at the Open AI summit, OpenAI's CEO Sam Altman said their next advancement(Model) released in 2025 will be more disruptive than most people expect. 'The industry will see the first examples of AGI in 2025 and will use different tools to achieve complete it. Alman added that initially the impact on humanity will be minimal but in time will become intense. 'In 2025 we will have systems that people will say 'wow, this changes what I expected'. Altman added that in time AGI will bring significant human job displacement. It will be transformative to economies.

Thanks Adam.

Hi Adam, hope all good with you. Interesting stuff above in your post, thanks, I’ve learnt a little bit there!

We are already looking at the uranium suppliers(miners). The commodity, being the power generation itself wouldn’t be a big profit driver but the much rarer ‘product’ looks promising.

& for those of us who have spent many hours in data centres, it sends a shiver down the spine Very tidy

Thanks Nik.

Thanks from me also!

Great info Adam, here's hoping we see some good market vibes over the coming months

Hi Jim, Top marks :). We report in GBP and your USD assets, other things being equal, are worth more GBP. Regards Adam

OpenAI closed a new funding round, raising $6.6B from Microsoft, Softbank and Nvidia. This was based on a post capital raise valuation of $157B. The company is expected to generate $3.6 billion in revenue this year, despite losses exceeding $5 billion, while next year’s revenue is projected to soar to $11.6 billion.

Invest in arms suppliers! My late great uncle John was a partner in a Bradford wool mill, bought in the 1930's.....did very well selling karki and airforce blue cloth to the gubberment 1939/1945!

Debt covenants are the restrictions placed on borrowers. You would find them in residential mortgages too, such as the borrower won't demolish the house without consent and you must insure the property, etc. In this case the lender has given them a waiver because they would have been in breach of that term. SMCI is a tier 1 partner of Nvidia and we believe has priority allocation of 25% of Blackwell chips. And on that(supply), total Hopper supply in 2023 was circa 550k chips and estimated 1.8-2m for all of 2024. Recent reports (today) show an estimated 2025 supply of 3M Hopper +4M Blackwell. No one expected Hopper, 'the old' architecture to continue to increase through 2025. By the time these chips are assembled in servers they are $40k per unit. The math is interesting!

@dingg said in Micron report and general tech news: Thanks Adam Wondered why klac was looking a bit perky on the premarket. As are some others, could be a bit of a good day if it carries through to the close Ah well, another kick in the balls, smci potential dodgy dealings pulling the rug on semis, this time next year Rodney

@Nik-Burrows Thanks Nik. Son 2 needs one soon so will look and see what exists

Which is what I said over on PH. Discussed with Nik and it was something outside of IM control. Processes of the Custodians I think, maybe it can be fixed now