Portfolio

Are AI Chip "Useful Lives" Creating Useless Earnings?

Michael Burry's depreciation warning, hyperscaler AI CapEx, and the cash reality at Alphabet and Amazon

Dec 4 • Bernardo

Selling PDD Holdings (PDD): Upgrading My Portfolio While Staying Bullish on China

How disclosure quality, relative conviction, and risk diversification led me to rotate out of PDD and into UBER and CSU

Nov 27 • Bernardo

Evolution AB's Q3 2025: When Short-Term Problems Become Structural

How Q3 (and Q2) results force a rethink of my investment thesis, and what must change for Evolution to re-earn a growth multiple

Nov 20 • Bernardo

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

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

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

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

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

Oct 7 • Bernardo

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

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

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

Brookfield Corporation's Q4 2024 Results and 5-Year Outlook: A Record Year For a Steady Compounder

A global investment powerhouse with strong insider alignment and its growth trajectory

Feb 17 • Bernardo

Amazon's Q4 2024 Earnings and 2025 Outlook: Strong Results, Big Investments, and Future Growth

Why Amazon remains my top holding amid market skepticism

Feb 9 • Bernardo

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