We re-platformed our quarterly letters onto substack. Please report any issues 👍

The real $SPCX offering is still 5 months away: - 4% of company is now public - 11% goes public August (=20% of non-Elon shares) - 20% more goes public November Let's talk in November.

Starlink is the LIV Golf of broadband.

everybody calm down. i got this.

Bear take on $AAPL. With their smallest share repurchase in 7 years, might be an easy call. @MarleyKayden and @SchwabNetwork

$MSFT down 4% after hours on crap copywriting.

As @RomanPuglise clearly states here, our private wealth offering is built on fun.

I've been in wealth management for 3 years now, and agree with @RomanPuglise that these are the most common wealth hiccups made by high earners.

Update on my average number of $GOOGL searches per day. LLM use now 70/30 Gemini/Claude. ChatGPT not helpful anymore.

You can coach better basketball players, but you can't coach better founders.

"While noise, fear, and unanswered questions may persist across the private credit landscape, we are facing it in Sixth Street’s characteristic head-on attitude. We remain investors first." $TSLX

A year ago, @RomanPuglise and I teamed up. At this point, we've become each other's go-to advisor. His weekly drops have gotten so good. open.substack.com/pub/romanp…

I'm still waiting to hear a credible argument that $ORCL can be trusted. Thanks @SchwabNetwork and @MarleyKayden !

I limit myself to one recommendation each letter. I’ve been on a heater lately: $CSU, $ADYEY, $BTCUSD, $DDOG, $SHY, $GOOGL, $VRSN

Unless you have $5M , AI is already good enough to be your financial advisor. Even then it’s probably good enough Try it. Share net worth, where/how you’ve allocated assets, what your goals are. Ask it to analyze and identify opportunities for improvement. Stress test different scenarios It gets basically everything right. Which tax advantaged accounts to use. Whether and which trusts to set up based on federal and state variables. Yup, estate planning advice too Really remarkable. And speaks to the fact that even if the models don’t improve, what we have today is going to totally transform white collar work

$GOOG. Nerves got to me. Owning $CSU instead, but not $ADBE.

"So the first distinction I would draw is that [inorganic] growth by internally funded cash is more akin to organic growth than it is to growth by acquisition" David Barber (Halma, 1997)

Will the real CFOs please stand up?

Serious about wealth, slightly less serious about everything else. More to come. Kicking off my presence on X. Sharing how my partner @upholdings and I build sustainable, tax-smart wealth at Upholdings — and a few lessons learned while growing a modern RIA.