▶ 0:18 · $NVDA · "We've Been in a Bear Market for The Past 3 Years."

episode briefing

"We've Been in a Bear Market for The Past 3 Years."

2025-11-11 · 8 company · 4 thematic

sentiment

7 bull1 bear0 neu

speakers

Antonio Linares runs a concentrated six-stock portfolio plus micro investments, focusing on 'singularity scalers' — companies with proprietary data moats that compound value via AI scaling laws. He bought Palantir at ~$7, held through 2022-2024 drawdowns, and teaches a course on modern value creation processes. His framework emphasizes betting early on extraordinary companies, holding forever, and learning from concentrated mistakes.

quote

“I would say Nvidia is at least as good, but it's growing a billion times faster. And actually, per my understanding of AI, I think it's going to grow a whole lot more faster and it's going to get a lot bigger, but it's cheaper.”

—antonio linares

now playing · $NVDA

$NVDA···bullish· high· posantonio linares

Nvidia cheaper than Costco despite billion-times faster AI-driven growth

Nvidia's forward P/E has inverted below Costco's since 2023 while AI capabilities double every two months; companies aligned with AI value creation are compounding free cash flow…

$COST···bearish· mediumantonio linares

Costco now more expensive than Nvidia despite far slower growth

Costco's forward P/E has risen above Nvidia's since 2023 even though its fundamentals improve linearly while AI-native companies compound exponentially; the valuation inversion si…

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Duolingo fundamentals 5x stronger but price-to-sales collapsed vs 2021 peak

DAUs grew from 9.5M to 50.5M, free cash flow per share and operating cash flow are order-of-magnitude higher post-ChatGPT, yet price-to-sales ratio contracted severely — an invers…

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Snap printing cash with 34% DAU growth and unique AR data moat at 2.7x EV/sales

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$PLTR···bullish· high· posantonio linares

Palantir growing at lightning speed; market cannot price exponential AI value creation

Palantir's AI-driven value creation is so rapid that institutional investors consistently underestimate it, selling too early (e.g., April selloff) and missing the compounding; th…

$ADBE···bullish· lowantonio linares

Adobe fundamentals improving but valuation contracted vs 2021

Adobe is cited as an example of a company with fundamentals pointing up and to the right while its valuation remains fundamentally contracted relative to 2021 when fundamentals we…

$AMD···bullish· mediumantonio linares

AMD's personalized chip platform at marginal cost ignored; stock hit $80 despite global chip shortage

AMD has a unique technology platform to deliver personalized chips at marginal cost to address the global chip shortage, yet the stock fell to $80 this year — emblematic of the be…

$TSLA···bullish· mediumantonio linares

Tesla executing Costco algorithm: efficiency gains lower prices, expand absolute cash flow

Tesla has followed the Costco operational blueprint over recent years — increasing manufacturing efficiency, declining margins as prices drop, but printing more absolute cash flow…

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