von Waldthausen

Você está mais próximo do tamanho de todo o universo observável do que da menor escala conhecida da natureza, o comprimento de Planck. Apenas reflita.

As a young socialist, Hayek read Ludwig von Mises’ 1920 paper “Economic Calculation in the Socialist Commonwealth.” Mises showed that socialist central planning isn’t merely inefficient, it’s impossible. Without private property and genuine market prices, planners lack any rational way to allocate scarce resources or determine real costs and needs. Even Oskar Lange, a leading socialist in the calculation debate, effectively conceded the point. While he promoted “market socialism” with trial-and-error pricing by a central board, real-world socialist planners in Eastern Europe quietly relied on world capitalist market prices as a guide. Without external free-market price signals, pure socialism would be economically blind and coordination would collapse. Mises went further, arguing that interventionism, the “middle way” of government meddling, is inherently unstable. Each intervention creates problems that invite more interventions, eventually leading to full socialization. Price controls cause shortages, subsidies distort production, and the cycle continues until the economy is fully planned. The lesson is clear. Rational economics requires genuine market prices emerging from voluntary exchange and private property. Half-measures don’t stabilize the system. They accelerate the drift into central planning. The Austrian School understood this decades before the collapse of the Soviet bloc proved it in practice.

@JMTrovieux Rage bait

J’ai loué un appartement pendant 5 ans à une jeune famille. Et voilà ce que je découvre à leur sortie. Ils ont le culot de demander leurs cautions! Aucune chance

@konstructivizm @grok ?

What is the name of the "point of no return" for a black hole?

Perplexity Computer wins hands down over Claude Code and Codex, even with their latest versions. The outputs are 5x-10x better for some use cases. @perplexity_ai - can you please launch a desktop app and a CLI?

you won’t find Munger in the files

@ActusDei Personal finance

I just came back from moderating the PPFAS Annual Unit Holders' Meet. My 4th time doing it and my 5th yr of being an investor. When I asked the assembled audience, how many had been invested for 5 years, almost every hand went up. It was quite amazing to watch - patient long term retail investing at work! Now, some key announcements. 1) PPFAS Large Cap Fund Idea is to create an entirely new category, think of it as 'passive plus.' They will replicate the Nifty 100 but do some things to enhance returns. Like buying futures when futures are trading at a discount or taking advantage of a special situation (eg: a corporate merger/swap) or buying stocks before an index rebalance. ETFs and Index Funds forcibly buy on the date of rebalance, essentially providing an arbitrage opportunity to those who do it first. Idea is to launch it at an expense ratio of a passive fund (0.1-0.3%). My thoughts: PPFAS sees it as an add-on for those who do Flexicap + Passive. The idea is indeed innovative and possibly can disrupt the passive space. If it works. That is the key question. We must let them build track record and prove that it works. Till then, I'm quite happy to stick to the Flexicap. 2) GIFT City: Nothing in a hurry. The PMS is live, the 2 outbound passive funds have received approvals. The inbound feeder and esp the outbound active will take a lot more time. They'll do a separate webinar on GIFT. 3) Questions about size: Market has also grown. Large caps now start at 1 lakh crore mcap. Even small caps start at 10k cr mcap. So AUM of 1 lakh crore on flexicap is not a big challenge. 4) IPO: Neil Parikh said they're planning for a 2030 listing. Rajeev added that regulations may not allow a unitholder quota in the IPO. 5) Final thoughts: There is something incredible about this event. A pilgrimage for many - India's Berkshire Hathaway and it is a privilege to moderate it year after year. I've stayed put as an investor for 5 years and reaped the rewards of it. I'll do a separate post on Rajeev's comments on valuations, cash holding and going overboard on equities. For more in-depth discussions on PPFAS and other mutual funds, please join our personal finance community. Reply personal finance and I'll send you the link.

@ActusDei What is an SIF? How do I join the WhatsApp community?

Why are SIFs being launched? I had the most frank conversation yet, with a fund manager. One sentence: To end arbitrage funds. How? SIFs will aim to become arbitrage plus, if arbitrage gives 7%, they will aim for 10%. Read the full post & if you like it, reply SIF to join our WhatsApp community. But how? One strategy that SBI AMC has outlined has an answer. First, how do arbitrage funds work? Buy stocks, sell futures pocket the spread. You get returns which approx = interest rate. SIF? Well one such SIF strategy will buy stocks & construct a band around it. Buy puts & sell calls. This cuts volatility close to arbitrage funds but returns can beat arbitrage. SBI is an example, others will soon follow suit. Why? Because generally the market prices calls > puts & this strategy gives a positive fee income. As simple as that. Aim is to first get family offices to move out of arbitrage & then the rest. One of the incumbent AMCs in arbitrage is so panicked, it has asked finmin to end the tax benefit of SIFs, the source says. Doubtless, an interesting space to follow.

@Rainmaker1973 Yaw drive

What’s this car part?

@elonmusk @grok Lord Vader

What should we name our male @Grok companion?

@cb_doge @elonmusk I’d like to have Lord Vader as my companion.

BREAKING: New Grok feature just dropped. "Companions" To enable, press the two bars in upper left of screen, then settings (gear) icon in bottom right of screen and turn on Companions.

@bearlyai @TrungTPhan x.com/phantomthread_…

[NEW] We just hired a new CTO. His name is Soham Parekh. He interviews incredibly well and brings experience with 887 of the top firms in Silicon Valley. Excited to share our new product roadmap soon.

@MarcellusInvest Future Luxe by Erwan Rambourg is also a fantastic book to get an insight into the luxury business.

Inside one of the World's Leading Luxury Conglomerate From 10 brands and around $2-3 billion in sales in the 90s to a colossal enterprise with roughly 75 brands and €85 billion in revenue today, LVMH's growth story is nothing short of extraordinary! 🚀 This incredible expansion spans five diverse divisions, from exquisite leather goods to dazzling jewellery! Curious about the secrets to their success? Tune into our latest podcast where Saurabh and Prashant unpack LVMH’s journey! youtu.be/Wr2O9Z4gPtU #BrandStrategy #WealthManagement #MarcellusInsights #MarcellusPodcast #HeritageBrands

@Thebestfigen We used to call these Pepsi cola in Pune, India

Unstoppable autonomous drones create a new kind of “Mutually Assured Destruction.” Small groups and states can “hit back” reliably. Having any enemies, anywhere, is an increasing liability. States will tightly control civilian drone overflights with a mandatory kill switch.

@trengriffin 😃

Michael Saylor on Warren Buffett holding $325B in cash (Nov 19, 2024). "They are destroying $3B a month in shareholder capital."

@GermanyDiplo @ABaerbock It’s time for a new foreign minister.

Economy & security are closely connected. For US consumers it is not Liberation Day but Inflation Day - and Unity Day for Europe. We have a strong toolbox to respond to coercive measures. We never wanted a trade war & remain open to talks. @ABaerbock

@marcelolima Thanks!

Read the rest here: assets.pershingsquareholdings.com/2025/03/141508…

A very good write-up on $BN by Ackman

SpaceX Dragon docks with Space Station

@gunsnrosesgirl3 V6