ninisweet

Today, the crypto market and related stocks are all “taking a day off.”
Bitcoin led the plunge, with Ethereum close behind,
while smaller coins went straight into “free fall,” with double-digit losses everywhere.
We thought the crypto market could just take a hit, but related publicly listed companies got caught up in it too.
Mining stocks and platform stocks were down across the board—a classic case of “when the city gate catches fire, the fish in the moat suffer.”
No one was spared.

$BTC Six straight weeks of declines
This indiscriminate crypto selloff is brutal, and big money definitely sniffed out the risk early.
And this had already been quietly priced in since before the midterm elections.
Let’s break down Wall Street’s moves here—they’re crystal clear:
Step one: In the months before the midterms, they pumped prices relentlessly, plainly boosting Trump and helping him win crypto voters—the prices surged so hard, who wouldn’t be tempted?
Step two: Come October, the big players figured Trump was unlikely to win and immediately made a run for it; prices promptly turned s

The empire he built through a lifetime of hard work was easily snatched away by others.
NVIDIA announced that its board of directors had approved Jensen Huang’s resignation as company president, CEO, and director, effective immediately.
Colette Kress, the company’s current executive vice president and chief financial officer, has been appointed interim CEO.
The goal of America’s mainstream establishment elites—to remove a Chinese person from the helm of its most important company—has been achieved.
This is almost a “national security coup” against business.
This outcome will have a profound im

Apple and Coca-Cola have both hit all-time highs,
both Buffett-owned companies and companies in his investment portfolio,
and both have strong free cash flow. In contrast, Google, Amazon, and Meta are among the companies investing the most capital in AI,
their cash flow has been drained, and their share prices keep falling,
while Apple, also a tech stock, has the lowest AI capital expenditures,
yet its valuation has climbed to nearly 40x PE. What exactly is Wall Street worried about?
The pie being promised by AI's downstream market is huge, but who knows when it will actually make money.
Anthr

Anthropic will enforce a stricter regional access ban policy starting November 12.
1. Anyone in China is unsupported, regardless of nationality.
2. Companies incorporated or headquartered in unsupported regions are unsupported, even if their employees are in the US.
3. US companies directly or indirectly controlled by Chinese individuals or entities may affect even employees in the US.
Going forward, using Claude will require checking not only where you are, but also who you work for and who controls the company.

Waking up to find out Jensen Huang has a third mistress...
This is explosive...
It is reported that NVIDIA executives are preparing to push Jensen Huang out.
The reason is that there are claims Huang is having an affair with Kimberly Powell, NVIDIA’s vice president of healthcare.
In March this year, Huang and Powell were seen behaving intimately at a nearby hotel during NVIDIA’s developer conference in San Jose, California.
Two people familiar with the matter said someone at the scene recorded a video, but New York Times reporters had not seen the footage.
In a phone inquiry from The New York

A sobering statistic: Buffett bought more than 250 stocks over his lifetime, but held fewer than 4% of them for more than 10 years.
Most were cigar butts, arbitrage plays, and short-term opportunities. The enormous wealth he built came from just a handful of great companies he held in large positions for the long term:
The Washington Post | Bought in 1973, exited in 2013, held for 40 years
GEICO | Bought in 1976, acquired outright in 1995, held for nearly 40 years
Coca-Cola | Position established in 1988, core holding retained long term, 38 years+
American Express | Large position established

Who would have thought ByteDance isn’t publicly listed, yet has an ownership structure like this?
Many people scroll through apps and Toutiao every day without knowing who ByteDance’s shareholders are.
ByteDance has yet to go public, so its equity isn’t disclosed in precise detail as it would be for a listed company.
The market’s mainstream estimate: Founder Zhang Yiming holds around 20% and controls the core voting rights.
Employee shareholding platforms: around 20%, covering many early and core employees.
Global institutional investors: around 60%, including well-known investment firms such

BTC falls below its cost basis, but Saylor keeps buying!
Strategy’s latest 8-K filing shows the company bought another 1,036 BTC from November 2 to 8, spending about $81.9 million at an average price of $79,012.
Its total holdings have now reached 850,364 BTC, with a cumulative investment of $64.16 billion and an overall average cost of $75,456.
Interestingly, Strategy also spent $188.3 million buying back preferred stock that same week—more than twice what it spent on BTC—with funds mainly raised from selling common stock.
BTC is currently around $74.5k, still slightly below its overall cost

Buffett’s most expensive lesson:
One encounter with a bad business is enough
If you’ve never stumbled in a bad business, you have no idea what a good business really looks like.
A friend of mine put it more bluntly: The first rule of fishing isn’t technique—it’s going where the fish are.
In 1966, we acquired a Baltimore department store.
What happened? We spent all day scrambling to fight over territory with competitors,
and only after repeated trial and error did we see clearly which paths led nowhere and which pitfalls to avoid.
Some businesses are poison pools by nature.
You don’t need to b

Buffett said: “There are two ways God weeds out men.
First, make him lustful, so that every time he sees a beautiful woman, his mind runs wild, and in the end he is consumed by his own desires;
Second, make him greedy for food, so he wants a bite of everything delicious, overeats and overindulges, and eventually his body breaks down.”
Many people think that for a man to live a good life, it is enough to control his appetite and keep his lust in check.
In reality, quite a few men manage to do this. They don't stay up late or drink excessively, and they aren't lustful or frivolous. They keep a r