Berk on Value

Market Analysis & VBM Context

Amazon’s $128 Billion AI Bet: Five Realities From the 2025 Fiscal Year

Summary Amazon spent $128.3 billion on capital expenditures in 2025 , up from $77.7 billion the year before—nearly all of it directed at AI and cloud infrastructure ( Amazon 10-K Filing). A $15.2 billion swing in “Other Income” was driven by unrealized paper gains on Amazon’s $8 billion Anthropic investment—not

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ValueAligned Portfolio (VAP) Updates & Performance

The Efficiency Engine: 5 Takeaways from Kinsale Capital’s Q3 2025 Results

Operating EPS increased 24% to $5.21, beating analyst estimates of $4.80, with revenue reaching $497.5 million ( Kinsale Q3 2025 Press Release). Combined ratio of 74.9% and nine-month operating ROE of 25.4% demonstrate sustained underwriting excellence ( ). Commercial Property rate declines stabilized from -17% in Q2 to -8% in

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Wealth Preservation & Estate Planning

Your Will isn’t Enough: 5 Living Trust Truths that Change Everything

Summary A will requires probate, which costs 3-7% of the estate value and averages 20 months to complete. A living trust avoids probate and provides incapacity protection. Without one, your family may face conservatorship proceedings costing $20,000 or more. You retain full control of a revocable trust and can buy,

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Value Based Management (VBM) Playbook

General Motors’s 2025 Masterclass in Acting Like an Owner

How Mary Barra Solved the Agency Problem by Acting Like an Owner GM recorded a $7.6 billion EV write-down in 2025, while its stock reached an all-time high of $85.18 ( Investing.com). Share count dropped 35% since late 2023—from 1.37 billion to 904 million—with a new $6 billion buyback authorized

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ValueAligned Portfolio (VAP) Updates & Performance

VAP Weekly Market Review Jan-23-2026

The Dow Crashed 870 Points on Tuesday. Here’s What Smart Money Did Next. What Triggered Tuesday’s 870-Point Crash? The Greenland situation escalated fast. On Saturday, January 18, Trump announced via Truth Social that eight NATO members would face tariffs “until such time as a Deal is reached for the Complete

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Free Checklist kit

Estate Planning Checklist Kit

Take charge of your legacy with our expert-designed Estate Planning Checklist Kit! This free resource simplifies estate planning, empowering you to create a personalized plan to protect your family and assets. With clear, actionable guidance, you’ll eliminate confusion and take control of your future.

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