Unicus

An independent short-only invst. research firm. X is Not Fin Advise. Short: Macro Credit:

[Unicus @UnicusResearch]

We have some news to share with you.

We are launching a short-biased fund. We are thrilled to announce that @michaeljburry will act as a senior advisor to our fund, Minerva Investment Management LLC.

An abridged note below.

[Unicus @UnicusResearch]

Just wait till they realize that their corporate bond and private credit portfolios are tilted that way too... oops

[The Kobeissi Letter @KobeissiLetter]

US pension funds are heavily concentrated in technology stocks:

The technology sector accounts for 44% of total US pension fund equity allocation, according to a Bloomberg analysis of more than 70 pension funds.

This percentage has more than doubled since 2015.

Pension fund equity allocation to technology is now larger than that of the next 3 sectors combined.

By comparison, Financials represent 16%, followed by Healthcare at 12%, Industrials at 11%, and Consumer stocks at 10%.

To put this into perspective, the Consumer sector was these funds' largest allocation in 2014, at ~20%.

US pension funds are more exposed to technology stocks than ever.

[Unicus @UnicusResearch]

Looking like some asset protection. Now my question is: Protecting it from what? And who? Because if I were to listen to the media/talking heads (I don't) all is good?

[Unicus @UnicusResearch]

Seemed too quiet, so I checked flightradar... Anyone? Literally anyone covering this?

[Unicus @UnicusResearch]

Seemed too quiet, so I checked flightradar... Anyone? Literally anyone covering this?

[Andrew OPEC+, Grand Vizer of OPEC Production. @Andrew87229442]

Musings of a $QQQ short day 63.

Bring on the circuit breakers..........

"Look at the last 5 years of performance of this", that's the total extent of the analysis.

"Double in the last year, I gotta get on that" also the total extent of the analysis.

[Unicus @UnicusResearch]

This is painful to watch.
Retail investors must choose not to listen to financial advise from instagram & any social media.

[Negligible Capital @negligible_cap]

We need a recession so bad

[Unicus @UnicusResearch]

@davidein @jamesfishback @davidein Rob MacArthur and I have high respect for you. We have known you for a long time and I’m glad you and your fund won this case.

Stay well, and hope to see you soon.

[Unicus @UnicusResearch]

Is $JEF the one that breeds cockroaches?

Interesting….

[junkbondinvestor @junkbondinvest]

Jefferies has now been tied to financing at least 4 alleged frauds including the infamous First Brands.

Indiana’s pension is suing after putting $100mm into a Jefferies-backed fund (where it was the largest investor). The fund’s big bet was bonds of Water Station a water vending machine company that turned out to be a Ponzi (alleged).

The pension alleges that while Water Station was collapsing, Jefferies sold the bonds it held into the fund at “fraud-inflated prices,” moving its losses onto the pension

“When you see one cockroach, there are probably more.”

[Unicus @UnicusResearch]

All road leads to $JEF

IYKYK

[Unicus @UnicusResearch]

Oopsies

[The Great Martis @great_martis]

😂😂😅

[ben k @Benshooter]

I wish people were as concerned about the Chinese spies in our universities, governments, megacorps, etc as they were about some honeypot fucking Jensen.

Maybe this can help boost some awareness.

[Unicus @UnicusResearch]

Welcome to week 46.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Nasdaq 100 futures fall over -1% in their first reaction to Nvidia, $NVDA, CEO Jensen Huang confirming his "romantic relationship" with a Chinese spy.

[Unicus @UnicusResearch]

The question one must ask is: why now?

[GURGAVIN @gurgavin]

NVIDIA CEO HAS JUST SENT THIS EMAIL TO THE ENTIRE COMPANY APOLOGIZING FOR HAVING AN AFFAIR WITH A SUSPECTED CHINESE SPY

$NVDA

[Unicus @UnicusResearch]

Mother of all plot twist. And very….?

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸🇨🇳 US intelligence finds Nvidia $NVDA CEO Jensen Huang had a 'romantic relationship' with a Chinese spy, FT reports.

[Unicus @UnicusResearch]

"The biggest challenge you will ever face is the mastery of your own emotions. Fear. Greed. Impatience. Hope. The desperate need to “do something.”

[Unicus @UnicusResearch]

Well said.

Sad most don’t take this as a warning signal; and see it as an opportunity to get caught in a bull trap.

[Unicus @UnicusResearch]

This is bad
Very bad

[Anchovy Capital @anchovycapital]

CLOs: You have 10x levered CLOs, buying the $CRWV SUNs which fund the equity into SPVs which borrow at 80% LTV to buy Nvidia chips. Insane. CDO Squared of 2026

[Unicus @UnicusResearch]

@DanielSLoeb1 Hugs