The ACID Capitalist Podcast Investing in the Blind Lap
Nov 12, 2025
Discover how Lando Norris excels by driving without a delta display, highlighting that less feedback can enhance performance. Explore the impact of imagination on markets with insights into Tesla and Nvidia's strategic advantages. Delve into the effects of China’s low bond yields on local equities and the complexities facing spirits makers, revealing why their stocks are languishing. Plus, learn a pragmatic method to capitalize on mispriced assets while navigating the landscape of acid capitalism.
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Driving Blind Improves Focus
- Lando Norris switched off the delta time display and drove better by focusing on each corner without reference.
- He said, "The less I know, the better I drive," and pushed each lap to maximise performance.
Imagination Moves Markets
- Hendry argues imagination and shared belief often drive market value more than analytics.
- He links this 'acid capitalism' idea to ancient feats built from contagious visions rather than spreadsheets.
Longer GPU Lives Inflate Profits
- Hyperscalers extended estimated useful lives of GPUs, materially lowering depreciation charges and inflating reported profits.
- Michael Burry estimated this understates depreciation by billions, implying large valuation overstatements.