📈 Stocks at ATHs

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Good Morning & Happy Monday!

Markets are near record highs, OpenAI just shut down Elon Musk’s takeover bid, and Warren Buffett made some big moves in Q4. Plus, UBS is betting big on gold, and Palantir’s CEO is out with a bold new book on Silicon Valley’s lost ambition.

Plus the markets are closed today for President’s Day.

Grab your flat white and let's get into it! ☕️👇️

Markets

📈 Stocks near record highs going into this week
The S&P 500 hit a fresh record last week. The Nasdaq surged over 2.5%, while the S&P 500 and Dow gained nearly 1.5% and 0.5%, respectively. This week, investors eye Fed meeting minutes and economic data on manufacturing, services, and consumer sentiment. Meanwhile, earnings season continues, with Alibaba (BABA) and Walmart (WMT) among 46 S&P 500 companies set to report.

The market is closed today.

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🧠 OpenAI rejects Musk’s takeover offer
The AI giant rejected Elon Musk’s $97.4 billion proposal to buy its nonprofit parent, calling it “not a bid at all.” OpenAI’s attorney, William Savitt, dismissed the offer in a letter to Musk’s lawyer. Earlier this week, reports surfaced that Musk was leading a group of investors in the massive buyout attempt.

💰️ Here’s how Warren Buffett’s portfolio changed in Q4
Berkshire Hathaway picked up a new stake in Constellation Brands (STZ) in Q4 2024 while trimming other holdings and fully exiting Ulta Beauty (ULTA). Buffett’s firm also added to its positions in Domino’s (DPZ) and Occidental Petroleum (OXY). Here’s every change that Berkshire Hathaway made in Q4.

🥇 UBS lifts its 2025 gold price forecast. Here's the new target
UBS now predicts gold could soar past $3,200, revising its forecast upward due to strong investor demand and bullish market sentiment. Gold has already hit record highs just weeks into 2025, with analysts citing underinvestment and strong central bank buying as key drivers of the rally.

Investing in these funds is not equivalent to investing directly in bitcoin. High risk involved. Not suitable for all investors. Distributor: Foreside Fund Services LLC. *

Quick News

• Trump promises to treat VAT systems like Europe's like a tariff.

• OpenAI tries to ‘uncensor’ ChatGPT.

• Tech execs say DeepSeek ramps up China-U.S. competition but won’t hurt OpenAI.

• The low-cost model for airlines no longer holds up.

• European shares break record highs on Ukraine peace hopes.

Palantir

In their bold new book, Palantir CEO Alexander C. Karp and Nicholas W. Zamiska argue that the West risks falling behind unless the software industry reclaims its problem-solving roots. Once a driving force behind world-changing innovations, tech has drifted toward ad-driven social media, wasting talent on engagement algorithms instead of solving real geopolitical challenges—especially in the AI arms race.

Karp and Zamiska call for a reunion of government and tech, much like in the past, to maintain dominance in the 21st century. They advocate for stronger ideological confrontation, resilience against intellectual fragility, and leaders willing to stand for their beliefs.

This hard-hitting, provocative book not only critiques Silicon Valley’s complacency but also offers a rare inside look at Palantir’s broader political vision. With great early reviews on Goodreads, it’s shaping up to be a must-read when it drops this Thursday!