Investment Strategy & Portfolio - Pentwater Capital, an event-driven hedge fund, manages $7 billion in assets [1] - The fund held an economic interest in US Steel exceeding $1 billion [5] - Pentwater Capital has a $1.3 billion face value position in Fannie and Freddie preferred stock [16] Fannie and Freddie Privatization - The fund believes the Trump administration will release Fannie and Freddie from conservatorship and allow them to be relisted [8] - The fund believes the preferred stock has more appreciation potential than the common stock due to potential dilution of common shareholders [9][13][14] - The fund anticipates the government might convert its senior preferred shares into common stock, potentially diluting common shareholders [12][13] - The fund believes privatizing Fannie and Freddie will occur before the end of the current administration [14][15] US Steel Acquisition - The fund correctly predicted the closing of the US Steel acquisition by Nippon at $55 [2] - The acquisition involved a "golden share" provision, a novel concept in the United States [4] - The fund actively engaged with senators and the administration to advocate for the US Steel deal, highlighting Nippon's $14+ billion investment in Pennsylvania [3][4]

what AI companies is doing right now like the foundational companies it's like privatizing the Manhattan project. So imagine that they do build the atomic bomb and now they're sitting in saying h maybe we'll do it nonprofit or maybe they say oh we'll license the atomic bomb. Do you see a government allowing this.Think about that for a second. If you get to AI that cures the worst disease in the world, which actually is worth a lot of money, do you see government leaving this in private hands. No way. ...

Core Points - Ontario Budget 2025 is criticized for prioritizing corporate handouts and deregulation over the needs of workers and public services [2][4][8] - The budget fails to address job losses, with 33,000 manufacturing jobs lost recently, and lacks guarantees for job security or decent wages [3][4] - There is a projected $14.6 billion deficit for 2025-26, with overly optimistic forecasts for a surplus in 2026-27, raising concerns about economic stability [9] Summary by Category Economic Impact - The budget does not provide a serious plan to make life more affordable or secure for Ontarians, focusing instead on a narrow surplus projection based on optimistic forecasts [9] - The government is allocating billions into a contingency fund without targeted investments in job creation, risking community welfare amid low economic growth and high unemployment [7] Public Services - Key sectors such as health care, child care, and public education remain underfunded, which undermines community well-being and economic competitiveness [4][6] - There are no new investments in essential public infrastructure like hospitals and schools, which are critical for supporting stable jobs [6] Labor Concerns - The Ontario Federation of Labour emphasizes that the budget ignores the needs of workers for fair wages and secure jobs, leaving them to bear the brunt of economic challenges [2][4] - The expansion of the Ontario Made Manufacturing Investment Tax Credit lacks job guarantees and wage conditions, raising concerns about its effectiveness [3]