Alphabet是强劲的持仓；尽管近期因资本支出和现金流问题受到市场惩罚，但立场是买入更多而非卖出。

But the pattern that should concern you is that last week Alphabet Google right reported their first ever negative free cash flow quarter as a company negative $5.8 billion after their capital expenditures doubled year-over-year to $45 billion spent in a single quarter company. They raised their 2026 capex guidance to between$1.95 and $25 billion, right? They're they are telling investors, we're going to go spend $200 billion in cash and reinvest it into our business to go build these, you know, data centers and like it's $200 billion. It's just unbelievable.

So between Alphabet and Tesla, hundreds of billions of dollars of market value gone after their reports because investors are thinking, "Wait a second, you guys are spending a lot more cash than we originally expected you to. We're not too comfortable with this anymore."

So if you think about it, between Meta, Alphabet, Microsoft, and Amazon, we're looking at combined AI related capital expenditures approaching 500 billion in 2026 alone. Meta at 130 to 145 billion, Alphabet at 195 to 205 billion, and Microsoft and Amazon have not yet updated their guidance this week.

Alphabet is somewhere in between. The search business prints money, but the company just went cash flow negative for the first time in 22 years.

Alphabet, Tesla, they got punished this week. Meta got punished.

I've got a ton of Apple. I got a ton of Microsoft. I'm going to got, you know, Amazon, Tesla, Alphabet. I think it's all great. I'm not selling any of this stuff. I'm buying more. Alphabet.