Musings on Markets

    When I posted my valuation of Anthropic a few days ago, I noted that turbulence lay ahead, both for the company and the market. I did not expect that turbulence to be this forceful and arrive this soon, but markets don't have an obligation to wait until it is convenient for investors, to adjust to new realities. With the election results on No...

I knew that my post on Anthropic would draw strong reactions, when I made it public last week. I did mention in the course of the post that I have no interest in selling my estimate of value to the rest of the world, both because I don't own the high ground here and because it is meant to guide my decisions, not yours. That is why I made my model ...

    I am a dabbler, by nature, moving on from topic to topic, but this year, I have spent more time than usual on AI, but that is because it seems to be part of almost every business or economy related story. I tried to value SpaceX