The US media industry is currently engaged in an epic merger and acquisition battle. Paramount has suddenly launched a $77.9 billion all cash hostile takeover of Warner Bros. Discovery, directly challenging Netflix's $72 billion deal just reached a few days ago. Behind this is a fierce competition for super IPs such as HBO, Harry Potter, and DC Comics, with funding sources spanning across Wall Street and Middle Eastern sovereign funds.
       
What's even more interesting is the personnel shake up at Berkshire Hathaway. Todd Combs, Buffett's former potential successor, suddenly resigned and joined JPMorgan Chase to lead a $10 billion strategic investment fund focused on national security related investments. This shift from traditional value investing to geopolitical strategic investing reflects that large financial institutions in the United States are integrating macro security risks into their core decision-making.
       
There have also been significant changes in tax planning. The new tax law, OBBBA, has brought a year-end optimization window for high net worth individuals, raising the state and local tax deduction limit to $40000, and adjusting the rules for charitable donations. If your income is below $500000, now is the best time to accelerate charitable donations, with stricter restrictions starting in 2026.
       
The distribution revolution in the pharmaceutical industry is also worth paying attention to. Pharmaceutical companies such as Eli Lilly and Novo Nordisk have started selling drugs directly to patients, bypassing traditional PBM intermediaries. Taking weight loss pills as an example, Eli Lilly's Zepbound offers discounts as low as $299 per month through online services, while the listed price is $1086. This DTP model is reshaping the entire drug distribution chain.
       
The Supreme Court is currently reviewing a key issue - the President's authority to dismiss federal regulatory agency heads. Conservative justices tend to expand presidential power, but the independence of the Federal Reserve has become a sensitive point. If the presidential power expands excessively, it may damage the independent decision-making ability of the Federal Reserve, which is a major variable for global financial markets.

The US media industry is currently engaged in an epic merger and acquisition battle. Paramount has suddenly launched a $77.9 billion all cash hostile takeover of Warner Bros. Discovery, directly challenging Netflix's $72 billion deal just reached a few days ago. Behind this is a fierce competition for super IPs such as HBO, Harry Potter, and DC Comics, with funding sources spanning across Wall Street and Middle Eastern sovereign funds.
       
What's even more interesting is the personnel shake up at Berkshire Hathaway. Todd Combs, Buffett's former potential successor, suddenly resigned and joined JPMorgan Chase to lead a $10 billion strategic investment fund focused on national security related investments. This shift from traditional value investing to geopolitical strategic investing reflects that large financial institutions in the United States are integrating macro security risks into their core decision-making.
       
There have also been significant changes in tax planning. The new tax law, OBBBA, has brought a year-end optimization window for high net worth individuals, raising the state and local tax deduction limit to $40000, and adjusting the rules for charitable donations. If your income is below $500000, now is the best time to accelerate charitable donations, with stricter restrictions starting in 2026.
       
The distribution revolution in the pharmaceutical industry is also worth paying attention to. Pharmaceutical companies such as Eli Lilly and Novo Nordisk have started selling drugs directly to patients, bypassing traditional PBM intermediaries. Taking weight loss pills as an example, Eli Lilly's Zepbound offers discounts as low as $299 per month through online services, while the listed price is $1086. This DTP model is reshaping the entire drug distribution chain.
       
The Supreme Court is currently reviewing a key issue - the President's authority to dismiss federal regulatory agency heads. Conservative justices tend to expand presidential power, but the independence of the Federal Reserve has become a sensitive point. If the presidential power expands excessively, it may damage the independent decision-making ability of the Federal Reserve, which is a major variable for global financial markets.