Rob retweeted
🚨🇨🇦 CANADA’S PENSION FUND LOST $4.7 BILLION IN THREE MONTHS.
AND ITS ACTIVE STOCK-PICKING DIVISION HAS AN EVEN BIGGER PROBLEM.
CPP Investments just reported its fiscal Q2 results.
📉 Quarterly return: –0.5%
📌 Investment loss: $4.7 BILLION
🏦 Total assets: $866.2 BILLION
But here’s what deserves more attention.
CPP’s active equities division reportedly lost $3.5 BILLION in fiscal 2026 and approximately $6 BILLION over five years.
Billions managed by professional stock pickers.
Sophisticated models.
Expensive investment infrastructure.
And billions in losses.
Now, CPP isn’t an S&P 500 ETF. Its portfolio is globally diversified, and its 10-year annualized return is 8.8%.
One bad quarter doesn’t prove failure.
But here’s my question.
IF WE EXPECT ORDINARY CANADIANS TO QUESTION HIGH-FEE ACTIVE INVESTMENT MANAGEMENT, WHY SHOULDN’T WE APPLY THE SAME SCRUTINY TO OUR NATIONAL PENSION FUND?
The real test isn’t beating the S&P 500 every quarter.
It’s whether active management consistently adds value against appropriate benchmarks, after fees and risks.
CANADIANS DON’T NEED EXPENSIVE STOCK PICKERS.
THEY NEED INVESTMENT MANAGERS WHO CAN JUSTIFY THEIR COST.
🍁 @wealthmoose
Rob retweeted
Marc Andreessen revealed how Harvard Business School was built on a broken 1941 theory, and how it's now collapsing...
Andreessen co-founded Netscape in 1994 and a16z in 2009.
He has sat on Meta's board since 2008.
He has spent 30 years backing founders and watching managerial CEOs lose to them.
The pattern traces back to one book: James Burnham's The Machiavellians (1941).
Burnham argued every great company had been founder-run.
Henry Ford ran Ford. Bob Noyce ran Intel.
Today, Elon Musk runs Tesla, SpaceX, and Starlink.
Then, he said, something broke.
Between the 1880s and the 1920s, a new philosophy replaced the founder. It was called managerialism.
The professional manager would now hold a portable skill, usable across any business.
The consequences were:
- Harvard Business School
- Stanford Business School
- Management as a universal skill
- The 1970s conglomerate
"That assumes the managers are going to do a good job," Andreessen says.
For 30 years, they haven't.
Managers can run something static, he says. Soup is soup. A bank is a bank. A car is a car.
But when the industry changes, the manager freezes.
Look at SpaceX.
"Imagine being a professionally trained manager, trained at a top management school, working for a rocket launch company, competing with SpaceX."
Then Elon's rockets started landing on their butt.
"Your management skills ... what good are they at that point?"
Andreessen's conclusion:
"You're much more likely to build something important in the 21st century if you start with the founder and train them on management."
Rob retweeted
The temptation at SpaceX? DOUBLE the engine power.
Apparently, 250 TONS of thrust isn't enough for Elon.
He's eyeing a Raptor 4 with 500 TONS of thrust for Super Heavy's outer ring. TWICE the muscle.
With around 20 engines in that ring, that's a LOT more lifting power for Starship.
Normally people are tempted by chocolate. SpaceX engineers? Another few thousand tons of thrust. Self-control is overrated.
@SpaceX @Starship / Writer: Annette, Designer: Janné
Rob retweeted
Stellantis has sold their factory to Roshel....Government of Canada is giving Roshel $5 Billon contract...And guess what? Roshel produced over 2500 vehicles for Ukraine alone....Don't let Mark Carney fool you, this was his plan all along.
defence-blog.com/canadas-5-b…
Rob retweeted
Elon Musk explains why SpaceX built Starship out of steel instead of carbon fiber
At room temperature, steel looks twice as heavy as carbon fiber.
SpaceX built Starship out of it anyway.
The original plan was carbon fiber, but progress was very slow.
Falcon 9 uses aluminum lithium, which has excellent strength to weight. But it needs a difficult process called friction stir welding, and you can't weld new parts onto it later.
That was hard enough at 3.6 meters wide. Starship is 9 meters or more.
So Elon asked: what about steel?
Here's the detail most people miss.
At cryogenic temperatures, strain-hardened stainless steel gets close to carbon fiber in strength to weight.
And almost the entire primary structure of a rocket sits at cryogenic temperature.
So you get similar strength to weight, roughly 50 times cheaper raw material, and a metal that's very easy to work with.
Elon: "You could smoke a cigar while welding stainless steel."
Then there's the bonus.
Steel's melting point is about twice that of aluminum, so the ship can run much hotter on reentry.
That could cut the heat shield mass on the windward side roughly in half, with no heat shield needed on the leeward side.
The metal that looks heavier on paper ends up saving mass where it matters.
Rob retweeted
Elon Musk runs 120 design reviews a day in 5-minute slots.
He does this while running six different companies at once.
Marc says Elon maps each company as a production process.
Each process has one bottleneck... the single thing slowing it down.
Elon finds the engineer working on that bottleneck and sits with them until it's fixed.
He does this at Tesla 52 times a year. Personally.
"There's no CEO like this."
Most CEOs run their companies through a wall of middle managers.
Andreessen watched IBM collapse under that model.
Inside IBM, they had a name for the failure mode: the "Big Gray Cloud."
It was the traveling court of suited men who kept the CEO away from engineers.
After 12 layers of compounding lies, the CEO had no idea what was happening.
Elon's method is the polar opposite.
Design review math:
- 5 minutes per engineer
- 12 reviews per hour
- 10 hours per day
- 120 reviews per day
An engineer described working for him as entering "a zone of shocking competence."
On sustaining it, Elon's rule is: "I don't take vacations."
Marc Andreessen revealed how Harvard Business School was built on a broken 1941 theory, and how it's now collapsing...
Andreessen co-founded Netscape in 1994 and a16z in 2009.
He has sat on Meta's board since 2008.
He has spent 30 years backing founders and watching managerial CEOs lose to them.
The pattern traces back to one book: James Burnham's The Machiavellians (1941).
Burnham argued every great company had been founder-run.
Henry Ford ran Ford. Bob Noyce ran Intel.
Today, Elon Musk runs Tesla, SpaceX, and Starlink.
Then, he said, something broke.
Between the 1880s and the 1920s, a new philosophy replaced the founder. It was called managerialism.
The professional manager would now hold a portable skill, usable across any business.
The consequences were:
- Harvard Business School
- Stanford Business School
- Management as a universal skill
- The 1970s conglomerate
"That assumes the managers are going to do a good job," Andreessen says.
For 30 years, they haven't.
Managers can run something static, he says. Soup is soup. A bank is a bank. A car is a car.
But when the industry changes, the manager freezes.
Look at SpaceX.
"Imagine being a professionally trained manager, trained at a top management school, working for a rocket launch company, competing with SpaceX."
Then Elon's rockets started landing on their butt.
"Your management skills ... what good are they at that point?"
Andreessen's conclusion:
"You're much more likely to build something important in the 21st century if you start with the founder and train them on management."
Rob retweeted
Remarkable that putting men in women's sports is still the hill these people are willing to die on.
Rob retweeted
83 years ago today, Cape Bretoners marched into war.
On November 10, 1943, the Cape Breton Highlanders arrived in war-torn Naples, Italy.
Among the soldiers photographed that day were Stanley “Stookes” MacDonald of New Waterford, Gus “Gopher Gus” MacLean of Florence, and Cyril Smith of Glace Bay.
Gus would be killed in action in Holland on May 1, 1945 — just seven days before Victory in Europe.
These weren't just soldiers. They were our neighbours, our families, and our communities.
We remember them. Lest we forget. 🇨🇦
Thank you to the Cape Breton Military History Collections for these stories. Their work honours our fallen soldiers everyday.
Rob retweeted
🚨 Sec. Scott Bessent is MIC DROPPING Canada PM Mark Carney! This man never misses.
"We've had a FREE RIDER problem with Canada. And PM Carney, after getting a verbal BEATDOWN from myself and Hegseth, said: 'Stop throwing shade to get negotiations?' Well, HE'S the one who said WE'RE AT WAR!"
"Canada had a great military. They were right there at the forefront on the beaches of D-Day, and what the Canadian government has done to the Canadian Armed Forces, if you look at the ranks of NATO spending, they are near the very BOTTOM, like they're cellar dwellers around with Spain in terms of their military spending to GDP!"
"And why is that? Because they were free riding."
"The Canadian businesses are not with the Prime Minister, the Canadian military is not with the Prime Minister."
"And, you know, he thinks that he got to office on an anti-Trump, anti-Americans, the platform, and it's not going to work out in the long term."
🔥🔥🔥
Rob retweeted
I asked Claude to analyze the last 300 videos from the "I've had it" podcast and to give me the world view of someone who relies on them for news.
Claude: "A person immersed exclusively in this ecosystem views the world through a lens of totalizing political paranoia and self-righteous outrage, reduced to a black-and-white spectacle of righteous resistance versus abject evil. Every complex geopolitical event, economic strain, or cultural shift is flattened into a single, sensationalized narrative: an imminent fascist takeover orchestrated by a comic-book lineup of "oligarchs," "whack jobs," and corrupt elites. Operating within a high-decibel echo chamber, they mistake vulgar catharsis and relentless mockery for sophisticated political analysis, consuming news not to understand the world, but to validate their own moral superiority and partisan disdain.
Ultimately, this worldview fosters a profound cognitive dysfunction, replacing civic discourse with paranoid conspiratorial thinking and performative activism. Complex institutional processes are dismissed as mere theater, while every political opponent is demonized as a bad-faith actor or cultist beyond redemption. By relying on a steady diet of apocalyptic warnings and therapeutic venting, the consumer becomes addicted to a cycle of perpetual grievance and righteous panic, rendering them entirely incapable of engaging with nuance, counter-evidence, or the lived realities of anyone outside their immediate political tribe."
Jennifer Welch says her advertisers were "harassed" into dropping the show.
"Sadly, some of the advertisers have caved. But we still have other advertisers, and we're still standing."
Little companies are apparently stepping in to try to save them.
They read a message from a brewery in Wisconsin that called Charlie Kirk "an awful human being" and wanted to help sponsor the show.
Welch called that "so sweet," then did a shout out for the company for free.
At last count, around 30 sponsors have dropped the podcast.
It's not because they were harassed. It's because these women are toxic.
But hey if you're a little company, just drop these hateful hags a message bashing Charlie. Maybe that'll get you a free ad read.
Rob retweeted
Stellantis sold its Brampton, Ont., assembly plant to defence company Roshel. The company’s CEO @RomanShimon says no government incentive was placed on the table to sweeten the deal for his company.
Rob retweeted
🇨🇦 𝗦𝘂𝗿𝗽𝗿𝗶𝘀𝗲!! 𝗠𝗼𝗿𝗲 𝗟𝗶𝗯𝗲𝗿𝗮𝗹 𝗟𝗶𝗲𝘀.
Well this is awkward!
Despite all her public chest-thumping and righteous indignation...
...Melanie Joly and other members of the liberal team were in on the Stellantis plant sale to Roshel since the beginning.
Rob retweeted
新议员扬言要办马斯克，才发现五角大楼火箭全归他管。
福克斯新闻的节目里，正讨论民主党新科议员扬言要在国会发起调查，彻查马斯克的商业帝国。
主持人杰西·沃特斯（Jesse Watters）当场回应：
你们随便查，但谁也动不了他一根手指。
同台的民主党嘉宾杰西卡·塔洛夫（Jessica Tarlov）当场列出调查清单：星盾（Starshield）军事卫星、五角大楼的巨额合同，以及政府效率部（DOGE）撤换监察长的动作。
在塔洛夫看来，万亿富豪同样必须接受国会监督。
沃特斯在节目里说了句更彻底的话：
这个国家现在的财富支柱就两个，一个是石油天然气，另一个就是埃隆·马斯克。
他的公司已经和军工复合体、华尔街银行、整个美股大盘、太空竞赛以及人工智能紧密捆在一起。
传票送过来，对他来说就像挥手赶走一只苍蝇。
这背后是真金白银的工程垄断。
五角大楼要把最高机密的侦察卫星送上天，离开太空探索技术公司（SpaceX），根本没有第二家能按时发射。
国家航空航天局（NASA）要把宇航员从国际空间站接回来，波音的飞船掉链子，最后还是靠马斯克的龙飞船接人。
星盾卫星更是直接成了美军战场通信的关键底层。
国会听证会可以开，传票也可以一张接一张发。
以往被传唤的公司依赖政策庇护，马斯克手里拿出的，是美军每天都少不了的硬核工具。
走出听证会的大门，国防部的下一笔发射订单，依然只能签给太空探索技术公司。
查，可以随便查。
但当一家企业成了国家安全和工业运转的底座，
单靠几张传票，根本动不了他分毫。
Rob retweeted
Caroline Sunshine just took apart the Hegseth impeachment push on CNN’s own air.
“The charge against him is BOGUS.”
Democrats tried to impeach the Secretary of War over strikes they claim Congress never approved.
Sunshine wasn’t buying the Democrats’ holier-than-thou act about ending wars.
SUNSHINE: “Congress doesn’t have any balls and they don’t care about ending wars. If they did, they would cut funding to Ukraine tomorrow.”
Then she buried Massie’s case one precedent at a time.
SUNSHINE: “Did we have any legal authority to go into Pakistan when we were getting Osama bin Laden? No.”
“Did we have any legal authority to go get Noriega? No.”
“Did we have any legal authority to go get Saddam Hussein in Iraq? We sure as hell did not!”
Sunshine was throwing haymaker tonight.
Rob retweeted
Yesterday we reported that Van Jones admitted that the Left ran a covert network of tens of thousands of operatives to push one specific word on social media: affordability.
Well, today we now know it’s a professional operation run by Heather Booth, a veteran DNC organizer who has trained over 25,000 community activists. It works with an entire smorgasbord of leftist groups: MoveOn, SEIU, the Teachers Union, the House Democratic Campaign Committee, and many more.
When you heard about “affordability” on your socials, you may have been hearing a political campaign.
But look at what’s happening right now. Oil plummeted nearly 9% in a single day, gas prices are falling, and jobs numbers just blew past expectations… exactly like Trump predicted back in September.
You were manipulated. Watch how fast “affordability” quietly disappears from your feed now that the election is over… at least until they need it again.
Rob retweeted
Stephen Harper‘s clear exposé of how Media works in Canada. It has applied to every conservative leader in the last quarter century. And the Liberals’ implanted CRTC agents, CBC funding and upcoming laws will make sure most citizens still only hear their side of the story.
"They would not cover cover my announcements. They would not cover any gaffe of my opponent, they scrubbed it out ... They would not run any ad that showed footage depicting my opponent in an unfavourable light ... We literally were censored out of the coverage." #cdnpoli (2018)
Rob retweeted
We could have bought and staffed over 2700 MRIs in canada with this money last year.
Canada has less MRIs than Pennsylvania. 700,000 people are waiting for CT Scans and MRIs in Ontario alone right now.
Let that sink in.
Federal government spent $19 billion on external consultants last year ctvnews.ca/politics/article/…
