Postcards: Why Are Billionaires Building Flammable Moats?

No... this is totally normal. ͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­ Forwarded this email? [Subscribe here]() for more You are a free subscriber to Postcards from the Florida Republic. To upgrade to paid and receive the daily Republic Risk Letter, [subscribe here](. --------------------------------------------------------------- [Postcards: Why Are Billionaires Building Flammable Moats?]( No... this is totally normal. [Garrett {NAME}]( Feb 27   [READ IN APP](   Dear Fellow Expat: At the risk of making a pun… It pays to watch what billionaires do with their money.  I’m always watching.  Two weeks ago, I was excited about Carl Icahn loading up on a 10% stake in JetBlue (JBLU), a stock trading at 65% of book value. It opened the door to a credit spread trade [over at Republic Risk letter](. (I’d hate for you to miss out on these ideas - click the link and join us for a month.) But this week, the billionaires seem less focused on value… and more focused on survival. Where are billionaires putting their money to work today? It looks for all the world like they’re making moves in the “Book of Revelation sector.” [Upgrade to paid]( Why is This a Thing? Podcaster Christina Randall notes that Meta Platforms (META) CEO and Facebook co-founder Mark Zuckerberg is one of 15 billionaires engaged in an “End of Days” project. He’s building a 5,000-square-foot underground compound on 1,400 acres in Hawaii.  That seems… sane. Guardian author Arwa Mahdawi did a full wrapup this week of his project (and others), it’s about as crazy as you’d think]( It just goes to show that even if you have billions of dollars, you’re just like every other person who went through COVID and thought that maybe you should buy some Freedom Food, the 25-year shelf life mush that sells for a premium because it has the word “survival” on the box. Zuckerberg is spending $270 million on his compound. Archeologists in the future will be very interested in the mental state that prompted these men and women to seclude themselves on an island thousands of miles from any city with a population over 500,000. I suppose that if you’ve come all that way… willing to hop various islands in the process, the property owner needs to [protect themselves from “the hordes]( The last thing I’ll worry about when the system goes belly up is hunting a billionaire judo expert halfway around the world. But maybe someone will. That level of paranoia is why Al Corbi, president of Strategically Armored & Fortified Environments (Safe), is helping one billionaire build a flammable moat. I confess that on Friday, with the Mega Millions lottery prize topping $500 million, I ponied up the idiot tax and bought a $2 ticket. When I was driving home - delusionally thinking about how I planned to spend this money - my initial thought was to pay off my house and give $1 million to everyone in my family. I didn’t have “flammable moat” at the top of my list. Which means I am still attached to [the rational use of money](. Maybe one day, when my number comes in, I’ll build tall buildings, put my name on them, and have a TV show with my daughter where I fire celebrities. The last guy to do that became President. For now, I’m an amateur when it comes to money. I’ve got a lot to learn. Stay positive, Garrett {NAME}  Disclaimer Nothing in this email should be considered personalized financial advice. While we may answer your general customer questions, we are not licensed under securities laws to guide your investment situation. Do not consider any communication between you and Florida Republic employees as financial advice. Under company rules, editors and writers cannot recommend their positions. The communication in this letter is for information and educational purposes unless otherwise strictly worded as a recommendation. Model portfolios are tracked to showcase a variety of academic, fundamental, and technical tools, and insight is provided to help readers gain knowledge and experience. Readers should not trade if they cannot handle a loss and should not trade more than they can afford to lose. There are large amounts of risk in the equity markets. Consider consulting with a professional before making decisions with your money.   [Like]( [Comment]( [Restack](   © 2024 Garrett {NAME} 548 Market Street PMB 72296, San Francisco, CA 94104 [Unsubscribe]() [Get the app]( writing]()