Big techs' earning quality ( link ) Thryv ( link ) ( link ) ASPI ( link ) ( link ) ( link ) ( link ) Know this company before you invest ( link ) Helios Techno ( link ) According to Black Clover's disclosure, they sold around 45% of their holdings at the beginning of this year which is not a good sign to me. https://blackclover.ae/wp-content/uploads/2025/01/20250131.6927.pdf Kaneshita Construction ( link ) 6 year avg. earning/market cap = 2.27% 6 year avg. FCF/market cap = 4.78% (cash+investment) per share= 4263 Yen family+friend control 45%, no activist => hard to unleash value Robertet SA ( link ) Comments about market valuation now ( link ) VC companies ( link ) Augmentum Fintech Seraphim Space BRK 2024 annual report ( link ) 正確犯錯 智慧型失敗 發掘新事物的必要基石 基本形失敗 可在小心謹慎的情況下完全避免 複雜型失敗 多因素交錯的情況下, 常發生在熟悉的環境中 從失敗中學習成長 保持謙虛與好奇 有意識的評估當前情況, 採許適當行動 訓練自己專注整體, 而非局部 塑造健康的失敗文化, 吸取教訓改進成長都將容易許多