Interesting to see AI agents gaining traction, and why not. It's obvious we are on the cusp of a pervasive AI based customer support roll out. Calling a bank, utility or telco fills most customers with dread. I can see interactions in the near future being via an App and verbal, not necessarily initiated by a phone call. Think about a machine that will know a lot more about your use case and the services offered-far more than any human can. [image: 1756886913004-screenshot-2025-09-03-at-09.03.43.png]

Our weight changes regularly. On a fundamentals basis the stock is not over valued imo so I am not so much concerned about the multiple. I can't comment on anyones personal Extra-Portfolio holdings. The ideas im working on at the moment factor. As mentioned it's all about relative opportunities.

This is in regards to Blackwell chips [image: 1756630643870-screenshot-2025-08-31-at-09.56.49-resized.png]

Thanks Steve- Yes, PM means in pre-market trading. You have pre and post market trading for those that can't get enough. These are official, regulated markets albeit not on the respective official exchange. They are run by large broker dealers on the ATS-alternative trading system. Main facilitators being: Interactive Brokers Charles Schwab Fidelity Investments E*TRADE (Morgan Stanley) Webull Robinhood NB: Not to be confused with T212 or any other platform offering 24hr trading which is completely closed market where they offer you whatever price they think you will pay/sell at. In my opinion, to be avoided as the naive will not strike a good bargain!

Over 50% of the value of the company is AWS-maybe 65% AWS generates approx 28.7b and earns 10.5(quarter) Azure generates about 24.5b(less than AWS) but also earns 10.5b Similar money makers similar growth. Msft earns significantly more money overall-circa 50%+ more.

I don't mind disclosing the following with the caveat, everyone's situation is different by virtue of their: age appetite for volatility time to retirement total liquid assets lifestyle and cash requirements For example, we do have clients of advanced years(80+) with 100% of their assets with us in Tech. I happen to know that number represents less than 10% of their liquid funds. Conversely we have JISA accounts where their trustee has chosen MM or bonds. The point being, investment selection is based on many factors which you must weigh. Investment decisions should not be made based on a poll. If anyone wants to discuss their investment choices myself or Nik are happy to discuss. Our guidance service is FOC. Total assets under management % split and 3 year rank(1-5) performance: Lifestyle 40% (2) Tech 18%(1) IMOP 12%(4) PHE 8.5%(5) Index 8%(3) Other

Thank you Nik. Perhaps you could propose giving the client the option to abandon the small change remaining in funds since it costs the company more to withdraw than the amounts themselves. This would help expedite the process. Frank

Further, yesterday Micron's Chief Business Officer said the following. Basically they are 'sold out' until Dec 26. What companies like Micron do is the bulk of the product will now be under contract. Micron will reserve some inventory to also sell on the spot market at potentially, much higher prices and of course they will likely increase yield through efficiency. HBM4 is a key component in Rubin architecture (Blackwell-Next) [image: 1754998342363-screenshot-2025-08-12-at-12.29.43-resized.png]

@2BToo Snap

At least they haven't named one Skynet, yet

Quick update: with thanks to Nik, I've effected all the movements suggested and am hoping that the new investments in IM will grow as bountifully as the last ones have done! Thanks chaps.

Thanks. I did yesterday. Will wait or try to call. Thanks

Great to hear Ron. That portfolio has been very productive. I’m very proud of it and very pleased for anyone who put their hard earned money into it.

Following on from the above it has been confirmed that OpenAi Stargate is the Oracle customer-they have signed a deal for 4.6GW of compute. An enormous amount and the biggest ever contract for data centre HPC. Oracle-cloud revenue today is running at around $11B/annum and this will add $30B starting in 2028. As part of the deal oracle will invest $40 billion of its own money and the rest likely from other Stargate partners. As per Jensen 1GW = $40B revenue to Nvidia and as we can see this is 4.6GW and equates to at least 30,000 racks. My take on this- it confirms the narrative that Nvidia are just getting started. Secondly, first move to Oracle/Openai. What will MSFT/AWS/GOOG/Meta/XAI do to defend their position? Answer-very likely accelerate and expand their plans materially. They have to. Winners will certainly be: MU NVDA SMCI AVGO ORCL

Ok sure, send it over

@Adam-Kay said in Dashboard performance charts.: J, I wish you’d mentioned this a while ago. [image: 1740153593731-screen-shot-2025-02-21-at-15.56.38.png] Crumbs. That's not shabby.

Cheers Nik No urgency at all, I have another question, I shall ping off an email to you in the morning again no urgency on it

Brilliant result last night with a very strong guide. The stock popped after hours. It’s my anniversary, back Monday :). Full analysis then

@Dangermouse The current indication is that beneficiary pensions within a DB scheme will be classed as outside the estate. Given that they are paid as income and taxed in the hands of the recipient as income there is already tax claimed on this benefit. It is also likely that an annuity with ongoing beneficiary payments after death would also be treated as outside the estate. The main "target" is unused pension pots that at the moment pass as a tax free lump of cash on death before 75. Cheers

Just to round this off….it was 9 days from placing order to receiving money with Fidelity Happy with the Cobens timeframe