Wait Capital

Vice-President in Charge of Research and Development at Wait Capital.

[Wait Capital @WaitCapital]

These ranges, lol.

/NQ futures down 3.1% from the overnight highs.

[Wait Capital @WaitCapital]

@the_tradingdude I read Bessent's statements as edicts to Warsh. Not as a statement of fact.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: The US Treasury posted a -$404 billion budget deficit in October, the largest October deficit in history.

This marks a +$120 billion YoY increase and a +$337 billion surge from October 2024.

This comes as government outlays jumped +$84 billion YoY, to $773 billion, their largest for any October on record.

Defense spending was a major driver, surging +$29 billion YoY, to $129 billion, the largest monthly reading in history.

At the same time, government receipts dropped -$35 billion YoY, to $369 billion.

The US deficit crisis is accelerating.

[Wait Capital @WaitCapital]

Guys, guys, someone who used to work at Blackstone said to buy $NDVA. Blackstone, guys.

[Wait Capital @WaitCapital]

I keep trying to figure out why the stock market is in a perpetual state of FOMO and the world is awash in money then I realize the idiots at the Fed are increasing the money supply by $1.5 trillion a year and the even bigger idiots in Washington DC are running $400 billion deficits in October (imagine an annualized number like $4.7 trillion). Wow.

[*Walter Bloomberg @DeItaone]

US OCTOBER BUDGET DEFICIT HITS RECORD $404 BILLION

The US federal budget deficit surged to $404 billion in October, up 42% from $284 billion a year earlier, according to the Treasury.

Government spending jumped to a record $773 billion, versus $689 billion last year, while receipts fell to $369 billion from $404 billion.

Meanwhile, customs revenue plunged 39% to $19.22 billion, down from $31.35 billion.

October's deficit and spending both set records for the month, highlighting mounting pressure on US government finances.

[Wait Capital @WaitCapital]

@Dallas_Korben_ For sure on state protected. Probably a political risk lurking around though. As dumb as that sounds.

[Wait Capital @WaitCapital]

$NVDA only down 39% from its ATH at the lows this morning.

[Wait Capital @WaitCapital]

@Dallas_Korben_ The analogy to Buffett different sector and timeframe. The other guys built platform businesses that are very diversified. Not sure selling a high end chip for one primary purposes and software for same will scale that well over time but who knows. Maybe the mgmt team very good.

[Wait Capital @WaitCapital]

@Dallas_Korben_ any dip of any stock is bid so hard I doubt they let NVDA go any lower. The damage of losing the founder and leader will reveal itself slowly over time.

[Wait Capital @WaitCapital]

With the CFO stepping in as CEO we have a solid person who can look after the circular financing deals.

[Wait Capital @WaitCapital]

@ChrisB_IG Ha yeah just a blip.

[Wait Capital @WaitCapital]

99% of companies in the developed world would sideline a CEO who had an affair with a customer or a supplier or an underling.

If he had an affair with a Chinese spy we wouldn’t hear from him for a few years during the rehab tour.

Because the guy is the face of AI somehow none of these rules apply.

[Wait Capital @WaitCapital]

@korygill It's a difficult market to predict because it's largely driven by narrative at this point (dot com-like, but much bigger numbers). My guess we are still chopping in this range we've been in for 5 months or more. At least that's how I play it.

[Wait Capital @WaitCapital]

Nasdaq bounces 1000 on an impossible to believe forecast from Coreweave and anyone short semis get murdered. No need to hedge anymore people, it's all fine until that ANT IPO is done.

Sort of like last Wednesday, right?

[Wait Capital @WaitCapital]

These guys at these funds, banks, and insiders would sacrifice their first born to make sure IPOs like ANT would come off successfully. I know these people, they care about the payday, that's it. "Everybody's doing it."

Bullish AI.

[Wait Capital @WaitCapital]

China Renaissance Upgrades $AAPL with a price target of $425

Send the asteroids now.

[Wait Capital @WaitCapital]

But you have to admit she looked like a really nice spy.

[Wait Capital @WaitCapital]

Extreme complacency returns after 1 down day, lol. Now we are back in full FOMO because of price action since AI narrative kind of busted for now.

[Wait Capital @WaitCapital]

Did we surrender to Iran again?