El Market Jefe

Mutual Fund Slinger

[El Market Jefe @ElMarketJefe]

Looking back this was a terrible take bc the private credit market is much smaller than the mbs

[El Market Jefe @ElMarketJefe]

Gut feeling…private credit will be the cause of a ‘08 level draw down.

These funds can ride out their investments unlike banks, but they can also dip their toes in riskier investments.

Also, who’s some of their biggest investors…insurance companies…just like in ‘08.

[El Market Jefe @ElMarketJefe]

@StockMKTNewz Strong

[El Market Jefe @ElMarketJefe]

Ladies, liquor, and leverage!!!

[amit @amitisinvesting]

OH. MY. GOODNESS.

CITADEL HAS BOUGHT A MAJORITY OF THE PUBLIC ASSETS FROM LEOPOLD'S SITUATIONAL AWARENESS FUND.

So...Citadel scares everyone on Tuesday about a surprise rate hike during FOMC that WE ALL KNEW was not going to happen...

On Wednesday, the entire market freaks out about the rate hike which causes the selling to compound on itself creating 50-70% drawdowns across the board in high beta semicondcutor names...

Which means Leopold who we now know had $45B of assets and was 400% LEVERED ends up being the sacrifice as he gets liquidated at what theoretically could be the bottom due to not having the margin requirements to keep solvent...

AND THE PERSON WHO CAUSED THE SELLOFF WITH THE RATE HIKE FEARS ENDS UP COMING IN TO BUY HIS ASSETS FOR 40 TO 50 CENTS ON THE DOLLAR.

By the way, Leopold is getting married this weekend. I think he wanted to make sure he wasn't getting margin called during his wedding.

A vet on wall street in Ken Griffin takes out the young new kid.

ABSOLUTE. CINEMA.

[El Market Jefe @ElMarketJefe]

@SenWarren Wouldn’t the debt ceiling be created to prevent gov debt from going too high? Seems simple.

[El Market Jefe @ElMarketJefe]

The EWS segment of SpaceX is the most slept on piece of the business - currently pulling into over $2B a month combined from Anthropic and Google.

[Sawyer Merritt @SawyerMerritt]

SpaceX has just announced that they have entered into a $920 million per month agreement with Google to provide compute capacity, according to a new filing.

"On June 5, 2026, we entered into a Cloud Service Agreement with Google with respect to access to compute capacity. The customer has agreed to pay us $920 million per month from October 2026 through June 2029, with capacity ramping up through September at a reduced fee. The compute capacity provided includes approximately 110,000 NVIDIA GPUs, CPUs, memory, and other related components.

After December 31, 2026, the agreement may be terminated by either party upon 90 days' notice. The customer will retain ownership of, and intellectual property rights in, its content, Al models, and related data."

[litquidity @litcapital]

I will soon be introducing a bill to give the public a 50% ownership stake in Bernie’s three homes that were purchased from his taxpayer-funded income for over 35 years despite achieving absolutely nothing

[El Market Jefe @ElMarketJefe]

Elon becoming a trillionaire means everyone else gets poorer!

[Andrew Benson @AndrewBenson]

SpaceX millionaires 4,000 x $1mil , 400 x $100 mil

Every employee who joined before the first succesful launch made (unless they sold early) more than $100 million.

SpaceX lists June 12 at ~$1.75T.

Work backward from the cap table. At $1.75T, clearing $100M takes ~0.0057% of the company.

- 2002–2008, first ~500 in: joined at a ~$50M company. Held to $1.75T = a 17,000x. The core of the club — maybe 150–250 left holding

- September 2008, SpaceX has first successful launch

- 2010–2016: joined at $1B–$10B. Needs a senior grant — directors, principal engineers, early Starlink. ~100–200

- C-suite + board: Shotwell, Johnsen past $1B. A layer of SVPs below them clears $100M on equity, not salary. ~20–40

- Post-2016: joined at $20B–$350B. To hit $100M you'd have needed ~0.4% of the company. Impossible for an employee. This is the millionaire tier — almost none reach $100M

The tally:
~400–500 at $100M+
A few dozen above $500M
A handful of billionaires past Musk

Same building. Same mission. Two orders of magnitude apart — set entirely by what year you walked in.

Early isn't a strategy. It's a date stamp.

[El Market Jefe @ElMarketJefe]

He’s remarkably charismatic, almost Obama-esque #Rubioprez2028

[Buzz Patterson @BuzzPatterson]

This is more presidential than anything I’ve heard in a long time. Stop and listen to this! He has it!
https://t.co/9Kue3jdVqu

[El Market Jefe @ElMarketJefe]

Make it make sense.

[Tevis @FunOfInvesting]

SpaceX targets a $2 trillion valuation?!
SpaceX makes $15 billion in revenue.

$AMZN is $2.2 trillion valuation.
$AMZN makes $718 billion in revenue.

Someone please make it make sense.

[El Market Jefe @ElMarketJefe]

Point and case for the SpaceX IPO.

[Thierry from arvy 🇨🇭 @ThierryBorgeat]

SpaceX IPO valuation: $2 trillion.

P/E ratio: ~1,000x.

For reference:

At 1,000x earnings, if SpaceX grew earnings 30% per year — every year — it would take 27 years to grow into its valuation.

At 50% earnings growth per year?
Still 18 years.

This isn't investing.
It's a pledge of faith.

SpaceX is extraordinary.
The technology is real.
Starlink is a genuine monopoly.

But at these multiples, you are not buying the company.
You are buying the dream.

And dreams don't always compound.

[El Market Jefe @ElMarketJefe]

Starting to think this IPO will take off at first due to such a large amount of pent-up demand BUT in the end new investors will be exit liquidity bc these valuations are just ridiculous.

[Jack Farley @JackFarley96]

SpaceX trying to go public at 80x forward sales, 500x forward earnings, and 125x forward EV/EBITDA multiple

[El Market Jefe @ElMarketJefe]

How market holidays be hitting…

[El Market Jefe @ElMarketJefe]

Interesting chart to help visualize why companies like BlackRock and Vanguard are so massive today. They caught a massive tailwind from our shift in investing style.

[Mike Zaccardi, CFA, CMT 🍖 @MikeZaccardi]

Passive is nearly 60% of AUM

[El Market Jefe @ElMarketJefe]

If you have 1+ years, I also think Meta is a great buy w recent valuation compression. Once the war ends, big tech will take back the global spotlight.

[El Market Jefe @ElMarketJefe]

I’ve been so tempted to buy since MSFT sold off bc bad software sentiment…now this???

[CG @cgtwts]

> be Microsoft
> biggest investor in OpenAI
> launches “critique” in Microsoft 365 Copilot
> uses multiple models instead of one
> Claude drafts the research
> ChatGPT reviews and improves it
> beats single models
> outsourcing intelligence to competitors
> still winning anyway

[El Market Jefe @ElMarketJefe]

@wealthMAinsider 200 bps of cuts would most likely put the fed funds rate below R*, and in no way are we in a situation for an accommodative rate environment.

[El Market Jefe @ElMarketJefe]

Vol is the price we pay for returns.

[El Market Jefe @ElMarketJefe]

@Google @googlemaps Anyone else’s Google Maps not showing this feature?

[El Market Jefe @ElMarketJefe]

Schroveen

[El Market Jefe @ElMarketJefe]

@eastvillageguy Amen.