Tim Travis

[The Kobeissi Letter @KobeissiLetter]

BREAKING: MicroStrategy's, $MSTR, unrealized loss on its Bitcoin holdings rises to a record -$12.7 billion.

This puts the company's position down -$28 billion over the last 12 months.

[C3 @C_3C_3]

Mail in ballots are a fraud vector.

Easy large scale cheating.

Mail in ballots the 6 POTUS elections:

2004: 15 million
2008: 23 million
2012: 27 million
2016: 33 million
2020: 70 million
2024: 49 million

Anything stand out to you?

Pass the SAVE America Act.

No excuses!

[Dividendology @dividendology]

This is the funniest chart.

It took Micron around 20 years to recover from the Dot Com Bubble-

And then they climbed by 900% in the last year.

[C3 @C_3C_3]

California…

Theres Hospice fraud but no voter fraud.

Theres Homeless fraud but no voter fraud.

Theres Medicaid fraud but no voter fraud.

Theres Welfare fraud but no voter fraud.

Theres major fraud everywhere but no voter fraud?

Thats what Legacy Media wants us to think.

[Atlas Press @realAtlasPress]

Leonardo da Vinci's greatest paragraph

[Rand Paul @RandPaul]

The SAVE America Act has my full support.

Requiring proof of citizenship to vote in federal elections is common sense.

American elections should be decided by American citizens.

[Tobias Carlisle @Greenbackd]

This is a more subtle but arguably more important version of the SPY:RSP chart.

Instead of comparing the S&P 500 to the average stock, it compares:

$OEF = the largest 100 U.S. companies
$SPY = the entire S&P 500

The ratio trended downward for fifteen years from 2000 to 2015 as the largest companies systematically underperformed the broader market.

The winners were:

* Small and Mid caps
* Industrials
* Energy
* Financials
* Housing-related businesses

This was a golden age for active value investors.

Today the ratio sits near the highest levels of the entire 25-year series.

Historically, these levels have only been seen:
* Around the dot-com peak
* During the meme stock-now-AI boom

The market is implicitly assuming:

* Large companies deserve higher multiples.
* Large companies will continue taking share.
* Scale advantages are permanent.

That may be true, but the market is pricing it aggressively.

For investors focused on quality mid-caps, profitable small caps, and valuation dispersion, that's the environment that has historically produced the largest future relative-return opportunities.

[C3 @C_3C_3]

There is literally nothing California could do to make their elections less secure.

Mail in ballots and No ID.

Weeks of counting with no real chain of custody.

The fraud is staggering.

It’s an insult to America.
It’s an insult to Americans.

[Geiger Capital @Geiger_Capital]

Anyone still defending this system is a joke.

Require Voter ID.
Stop mass mail-in ballots.
Hand-count paper ballots.
Report the numbers.
Get results in a couple hours.

[The Kobeissi Letter @KobeissiLetter]

It's official.

MicroStrategy, $MSTR, is now facing its biggest unrealized loss in history, at -$10.8 billion.

In other words, after 6 years of buying Bitcoin, the company is now down -17% on its position.

By comparison, the S&P 500 is up +116% over this same timeframe.

Since MicroStrategy sold 32 Bitcoin at $77,135 per coin, their positions has lost -$11.8 billion in value.

This puts MicroStrategy's stock, $MSTR, down -77% since its record high.

Bear market is an understatement.

[Value Options Letter @ValueOptionsLtr]

A cash-secured put is not a yield trade — it's a conditional purchase agreement priced by implied volatility. If you wouldn't buy the stock at the strike, the premium doesn't justify the obligation. Free primer on the mechanics: https://t.co/N5Y0WJRawY

[Tim Pool @Timcast]

Its because its rigged

[Oguz Erkan @oguzerkan]

$META bears think it won’t be able to generate ROI on its AI capex.

Meanwhile Jensen Huang: “Nobody uses AI better than $META.”

Period.

[Evan @StockMKTNewz]

All these stocks hit new 52 WEEK LOWS at some point today

Chipotle Mexican Grill $CMG
Nu Holdings $NU
American Water Works $AWK
Conagra Brands $CAG
CME Group $CME
Copart $CPRT
Erie Indemnity $ERIE
GFL Environmental $GFL
Haleon $HLN
Intercontinental Exchange $ICE
Intuitive Surgical $ISRG
Lowe's $LOW
Mastercard $MA
Medtronic $MDT
National Fuel Gas $NFG
O'Reilly Automotive $ORLY
ResMed $RMD
Rollins $ROL
Service Corp $SCI
Sherwin-Williams $SHW
Sanofi $SNY
Suzano $SUZ
Molson Coors $TAP
Tradeweb Markets $TW
Waste Connections $WCN

[Barchart @Barchart]

WARNING 🚨: Stock Market reaches most expensive valuation in history, surpassing the Dot Com Bubble and the run-up to the Great Depression 🤯👀

[Charlie Bilello @charliebilello]

Almost there...

[Drew Cohen @DrewCohenMoney]

Can’t believe all of the AI companies made a joint statement saying Software Co’s will be fine… jk

In the past 5 days:

$NOW +36%
$TEAM +39%
$WDAY +25%

This is your daily reminder that nothing needs to change in order for things to change.

[PAA Research @ActAccordingly]

You wouldn't know it based on the way investors on this platform talk about homebuilders and the housing market in general but Berkshire Hathaway's deal for $TMHC is the THIRD announced takeout of a publicly traded homebuilder this year. Sentiment in the space has rarely been worse than it is now, but some longer term thinkers see the opportunity...

$XHB $ITB $TPH $UHG

[Overton @overton_news]

SPENCER PRATT: “Ready for the best part?”

“60% of the people in Los Angeles that are ‘experiencing homelessness’ — they’re not from California.”

“They’ve been brought here by NGOs that profit off of this homeless industrial complex, Medicaid...”

BILL MAHER: “Wait, wait, wait...”

“They’ve been brought here?”

SPENCER PRATT: “They’ve been brought here.”

BILL MAHER: “Who did that?”

SPENCER PRATT: “Body brokers bring these people here.”

BILL MAHER: “From where?”

SPENCER PRATT: “All across the country.”

“If you’re an addict, you can come to LA and get these rehabs and use your Medicaid, you have a social security...”

[Three-Legged Stool @valiovalentino]

Most investors are aware of Akre's home run with American Tower.

In 2002, he bought $AMT shares as low as $0.79 per share. These shares were worth close to 50x their cost within only 5 years and close to 100x within a decade.

But Akre didn't start buying $AMT in 2002. He started in 1998, buying shares at a cost basis of $22. This means that $AMT plunged 98% between 98 and 02.

Both the $0.79 and $22 purchases would beat the S&P over a long period of time.

Investing is fascinating.