Level-Headed Investing

Uber Technologies Inc. (UBER) Q3 2025 Results: The Global Royalty on Movement Shows Its Earnings Power

Why I see Uber as an asset-light, cash-generating "royalty business" on real-world demand, and why today’s price still embeds skepticism

Nov 13 • 

Bernardo

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1

Alphabet Inc. (Google) Q3 2025 Results: A Full-Stack Flywheel Meets Relentless Execution

Alphabet’s quarter, the CapEx super-cycle, and a still-mispriced leader

Nov 6 • 

Bernardo

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1

October 2025

When Growth Runs on Debt: The CoreWeave Case Study

A deep dive into the leverage, depreciation, and synthetic demand powering the AI neocloud boom

Oct 30 • 

Bernardo

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Brookfield's Investor Day 2025: A Blueprint for Compounding Decades Ahead

AI infrastructure, investment-led insurance, a recovery in real estate, and a conservative balance sheet powering the next growth leg

Oct 22 • 

Bernardo

1

Dreaming & Building: The Jeff Bezos Way

Invariants, pacing invention, AI's industrial bubble, and the long game

Oct 15 • 

Bernardo

1

Undervalued by Design: Amazon, Alphabet & the Economics of Aggregation

Pre-internet rules can't price post-internet platforms

Oct 7 • 

Bernardo

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1

September 2025

Parallel Plays: Where My Portfolio and Bill Ackman's Pershing Square Converge and Diverge

Why I built stakes in Alphabet, Amazon, Brookfield, and Uber; sometimes ahead of Ackman, and where our paths split

Sep 4 • 

Bernardo

1

August 2025

Amazon's Q2 2025 Results: Still Early at $123B AWS Run Rate

Re-acceleration across Retail and Ads, AWS demand locked in, and CapEx as a feature, not a bug

Aug 26 • 

Bernardo

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1

High Conviction, High Returns: Inside Bill Ackman's Pershing Square Holdings Portfolio

Two decades of lessons from Bill Ackman's focused, conviction-driven investment strategy

Aug 18 • 

Bernardo

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1

May 2025

Evolution AB's Q1 2025: Navigating Challenges for Sustainable Growth

A review of Evolution AB's Q1 2025 slowdown and why it may be temporary

May 3 • 

Bernardo

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2

April 2025

Tariffs and the Trade War Sell-off: A Case of Conviction and Disciplined Investing

Echoes of 2008, 2020, and every panic before; history doesn't repeat, but it rhymes

Apr 10 • 

Bernardo

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1

Laying the Tracks of the Digital Economy: The AI & Cloud Infrastructure Boom

A historical parallel between the industrial railroad boom and the AI & cloud infrastructure expansion shaping the next digital century

Apr 6 • 

Bernardo

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