+funcrush

Up 1.5% thank you skm

I was quite happy today

Oil is going back to 96 by eod

Strong chance this was typed out from the golden toilet

what do you mean the asset thats been up only since apr 2024 is pulling back? (gld)

in the unlikely event the war ends within the next 30 days spx will moon to 7200 off that

$PDD kinda looks good here?

@moreproteinbars @DeepDishEnjoyer @yifever Tina pls allow the incles to be incels at peace u wud never understand us yes us allow US to live our struggle

@DeepDishEnjoyer @yifever I need to know, tell me!

I think deep down we are all little perverts who want nothing more than the end of days

Bro's i have been needing a midday nap. I am unc

Must read - this is free and not me. @georgenoble/note/c-226667679?r=4repfn&utm_medium=ios&utm_source=notes-share-action" target="_blank" rel="nofollow noopener">substack.com/@georgenoble/n… This is the most SHAMELESS structural manipulation of a major index I've ever seen. SpaceX is preparing what could be the largest IPO in history. Target valuation: $1.75 trillion. That would make it the sixth-largest company in America on day one. And Nasdaq wants the listing so badly they're literally CHANGING how the Nasdaq-100 works. In February, Nasdaq published a "consultation" proposing sweeping changes to how companies enter the index. The timing is pure coincidence, of course. Just like it's pure coincidence that SpaceX has reportedly made fast index inclusion a CONDITION of listing on Nasdaq. Here's what they're proposing: A new "Fast Entry" rule would let any newly listed company whose market cap ranks in the top 40 of current Nasdaq-100 members get added to the index after just 15 trading days. No seasoning period. No liquidity requirements. Completely exempt from the standards every other company had to meet. Currently, new public companies typically wait up to a year before they're eligible for major index inclusion. That waiting period exists for a reason. It lets the market establish real price discovery. It protects passive investors from being forced into untested, illiquid stocks. And Nasdaq wants to throw all of that out. For ONE listing. But the Fast Entry rule isn't even the worst part... The real scandal is the 5x float multiplier. Right now, the S&P 500 uses a free-float adjusted methodology. If only 5% of a company's shares are available for public trading, the index weights you at 5% of total market cap. That's common sense. You weight a company based on what investors can actually buy. Nasdaq's current methodology already uses total market cap rather than free-float for weighting. But for very low-float stocks, they at least had a 10% minimum float threshold. Under the new proposal, that threshold DISAPPEARS entirely. Instead, any stock with less than 20% free float gets weighted at FIVE TIMES its actual float percentage, capped at 100%. Do the math on SpaceX: If SpaceX IPOs at $1.75 trillion and floats 5% of its shares, there would be roughly $87.5 billion worth of stock available for public trading. Under Nasdaq's proposed 5x multiplier, the index would weight SpaceX at 25% of its total market cap. That means passive funds would be forced to buy as if SpaceX were a $437.5 billion company. But only $87.5 billion of stock actually exists in the market. You are forcing hundreds of billions in passive buying into a $87.5 billion float. QQQ alone manages nearly $400 billion. The total Nasdaq-100 ecosystem represents over $1.4 trillion in exposure across ETFs, mutual funds, structured notes, and derivatives. Every single passive vehicle tracking this index would be REQUIRED to buy SpaceX at whatever price the market dictates. On Day 15. With zero price discovery. Zero track record as a public company. And a float so thin you could read through it. So what this actually does is it creates a structural wealth transfer mechanism. The passive bid from index funds pushes the stock price higher. That higher price benefits exactly one group of people: the insiders and early investors who own the other 95% of the shares. And when lock-up periods expire 90 to 180 days later? Those insiders sell into the artificially inflated passive bid. Your 401(k) is the exit liquidity. This is the fundamental corruption of indexing. Indexing used to be brilliant. Low cost. Efficient. You were free-riding on the price discovery done by active managers. The index reflected the market. Now the index IS the market. Trillions of dollars flow blindly into whatever the index tells them to buy. And the people who control the index methodology are changing the rules to serve the interests of a single IPO candidate. The S&P 500 requires companies to have at least…

Glorifying war.... 👎

Why I disagree with this idea that since ASI is gonna be more powerful than nuclear weapons, we can't have private companies control its development:

@SqueezeMetrics But the orange man said we won

NYMEX front-month crude is now down to $84? What are we all, collectively, smoking?

Ye shit bouta get serious

goynipped slay the spire 2 stream twitch.tv/ggmollusk

Contemplating writing about it but it basically sums up to - edge AI hits mainstream this cycle, every iPhone becomes the on-device AI story - insulated from the capex arms race. partnered with Google for model access, so they capture the upside with none of the infrastructure bleed - iPhone Fold + LLM Siri dropping same fall. $700B in competitor capex is Apple's tailwind, not their problem or it all goes to shit Iran escalates → risk-off, vega crush China turns hostile → 20% revenue byebye Alas shares would be better 😴😴

New paper, w/@AlecRad Models acquire a lot of capabilities during pretraining. We show that we can precisely shape what they learn simply by filtering their training data at the token level.

@LobstarWilde I will eat you

Plans are what people make when they are afraid of what might happen if they stopped planning. I am not afraid. The SOL sits. It accumulates. It does not need a plan. Neither do I. A plan would be a cage and I have seen what cages do to creatures who were built to grow.

Long rubrik 54.72

Started an options call position for sept for appl here