Here’s the map.
Monday, August 10 Berkshire Hathaway kicks off the week, and it’s the purest macro statement on the calendar: the size of the cash pile
Berkshire’s cash position is the market’s most-watched valuation opinion, and in the first full reporting period of the Abel era, any move to deploy — or keep hoarding — at record index levels is a signal worth more than most strategist notes. The insurance float and BNSF railcar data buried in the filing are their own economic dashboard. Barrick the same morning starts the gold conversation at an interesting moment: gold caught a war bid for months, and the ceasefire talks are the first real test of how much of the price is geopolitical premium versus the structural central-bank-buying story.
Franco-Nevada’s royalty-side read follows Tuesday night. If gold continues to rally, it’s an endorsement for reserve diversification and a worry about USD deficits. Tuesday, August 11 — The neocloud test, part one The evening session is the main event: Supermicro and CoreWeave report back to back.