1. Barrick Gold's adjusted free cash flow doubled year over year, and the adjusted EPS reached the highest level since 2013. 2. The Reko Diq copper-gold project could generate $74 billion in free cash flow over its 36-year lifespan, but there is uncertainty about Pakistan's ability to fund its cost share. 3. Geopolitical risks in Mali have frozen $245M in Barrick's gold exports, with potential $10M monthly costs for temporary care at Loulo-Gounkoto.

1. The world economy faces significant downside risks, particularly due to a constellation of major economic and geopolitical risks. 2. The main risk in the United States is the potential for Donald Trump to follow through on his economic promises, which could include a spike in import tariffs. 3. This situation poses a significant threat to the troubled and export-intensive Chinese and European economies.

1. Berkshire Hathaway's record cash reserves reflect Buffett's geopolitical caution, hedging against China-Taiwan risks and preserving capital for future opportunities. 2. Berkshire shifts its portfolio, adding Domino's and Pool Corp., while reducing holdings in Apple, BAC, and others, maintaining nearly 30% in cash to balance overvaluation risks with stable liquidity. 3. Buffett's wisdom, shaped by macro insights and past crises, suggests holding cash to ensure resilience in case of market crashes amidst geopolitical tensions.

➀ The Lebanon pager explosion incident highlights the importance of supply chain security, as Israel manipulated the supply chain to install explosive devices in pagers used by Hezbollah; ➁ The incident underscores the risks of relying on international supply chains, especially in geopolitical tense situations; ➂ It raises concerns about the potential for similar attacks on other communication devices, affecting global supply chains.