One of our greatest ever, signing off.
Kane Williamson has announced his retirement from international cricket effective immediately.
Head to https://t.co/Pm8RiU65zt to read more.
A historic milestone for Bangladesh Cricket. FIRST-EVER ODI SERIES WIN AGAINST AUSTRALIA. ๐ง๐ฉ๐
Dutch-Bangla Bank Bangladesh vs Australia ODI Series 2026
#BCB#Bangladesh#Cricket#BANvAUS#Tigers
๐จ WARNING: THE NEXT 48 HOURS WILL CRASH GLOBAL MARKETS!!
In 48 hours, SpaceX goes public at $1.77 TRILLION - the biggest IPO ever
I've been trading for over a decade, and I have never seen them rewrite the rulebook like this
Nasdaq, MSCI, and the biggest brokers in America all bent their own rules for ONE private company
That doesn't happen by accident
Let me show you exactly what they did:
First, Fidelity dropped its minimum account size from $500,000 to $2,000
A 99.6% cut
Think about that:
The most exclusive door on Wall Street, thrown wide open to millions of small investors - days before the biggest debut in history.
Ask yourself one question
Why do they suddenly want YOU in?
Because somebody needs people to sell to.
SpaceX reserved 30% of the deal for retail
THREE TIMES the normal share
And even then, most people didn't get a full allocation.
So to grab more at Thursday's open, they're dumping everything else TODAY to raise cash.
That's half of the selling you're seeing.
The other half? The smart money front-running July.
Here's the trick:
SpaceX doesn't join the Nasdaq 100 on day one.
It joins 15 days later, because Nasdaq cut its own waiting period from 3 months to 15 days
Just for this.
The moment it joins, every QQQ fund on Earth is FORCED to buy.
$22โ27 billion in automatic buying.
Translation: imagine 50 buses all forced to pull into the same gas station on the same morning.
The funds know the stampede is coming.
So they're selling now to free up cash for it. Retail selling. Institutions selling. At the exact same time.
THAT is your selloff.
Now here's the part nobody will say out loud:
When the most connected money on the planet builds a $1.7T exit door and hands the keys to the smallest investors in the marketโฆ
That's NOT generosity
That's distribution at the top.
We've seen this movie twice:
- 2000 Dotcom
- 2021 SPAC mania
Insiders cash out at insane valuations while the crowd chases the hype.
The math ain't mathing.
So you've got two choices in the next 48 hours:
Chase the most expensive IPO in history at the openโฆ
Or read the prospectus and realize you might BE the exit.
The next few days will be INSANE, but don't worry - I'll break down every move as it happens, like I always do.
Like it or not, I called every major top and bottom of the last decade publicly. I'll call this one too.
Many people are going to wish they followed me before June 12, 2026.
Soon, you'll understand why.
I'm very disappointed in the people who put this billboard on a truck. They've let themselves down, and let Victorians down.
The word is Bitch.
Ditch the Bitch.
Taxpayers in debt ridden Victoria are footing the bill for free weight loss drugs, such as Ozempic, to prisoners. These drugs cost regular Victorians almost $700 a month.
๐จMichael Burry just said Elon Musk and Nvidia's deal is built on fake numbers.
Burry published a detailed breakdown calling the entire structure "Fugazi", his word for fake.
He is alleging that billions of dollars in Nvidia chips are being hidden off balance sheets, and that American retirees are unknowingly funding the whole thing.
Nvidia, the world's largest AI chip company sold $5.4 billion worth of its most advanced GPUs, the GB200, to a company called Valor.
Valor is not a real operating business. It is a special purpose vehicle, a shell company created specifically to hold these chips and nothing else. Nvidia also invested $1.9 billion of its own money directly into Valor on top of the sale.
Those 100,000+ chips are now physically inside xAI's data center. xAI is Elon Musk's artificial intelligence company, the one that builds Grok. xAI is using every single one of those chips right now to run its AI models.
But here is what Burry is flagging.
Neither Nvidia nor xAI owns those chips on paper. Valor, the shell company holds legal title. That means $5.4 billion in GPU assets do not show up on Nvidia's balance sheet as inventory.
They do not show up on xAI's balance sheet as assets. They are legally invisible to both companies.
Nvidia gets to book the $5.4 billion as a completed sale and record it as revenue. xAI gets full use of the chips without owning them. And the risk disappears into a shell company in the middle.
Now here is where American retirees enter the picture.
Valor needed $3.5 billion in debt to fund this structure. Apollo provided it. Apollo is one of the largest asset managers on earth with $1.03 trillion under management and $834 billion specifically in private credit.
Apollo raised the $3.5 billion, packaged it into debt securities, and sold those securities to Athene.
Athene is Apollo's own insurance company. It sells fixed and indexed annuities, retirement savings products, to ordinary Americans.
When a retiree buys an Athene annuity, they believe their money is sitting in safe, stable investments. That money is now inside a structure funding Elon Musk's AI data center.
The numbers inside Athene are most alarming.
Athene holds $74.2 billion in reserves. It has moved $217 billion in assets into a captive insurer based in Bermuda, meaning those assets sit outside normal US insurance regulation and oversight.
Of the entire portfolio, 34.7%, equal to $103 billion, is classified as Level 3 assets.
Level 3 is an accounting classification that means there is no observable market price for these assets. No outside party can independently verify what they are actually worth.
The leverage sitting on top of those unpriced assets is 16 times.
Burry's says:
Every step of this structure is technically legal and publicly disclosed. But the entire thing was deliberately engineered across 8 to 12 steps to move credit risk off balance sheets and away from any market pricing.
- Nvidia books the revenue.
- Apollo collects the fees.
- xAI gets the computing power.
- And retirees sitting at the bottom of a 16x leveraged Bermuda insurance structure, holding $103 billion in assets with no market price carry the risk without knowing it exists.