Drew Renner

Welcome to the most asymmetric trade in modern financial history. The thread below lays out why. The opportunity exists because capital has chased the AI trade while ignoring the physical assets AI requires to run — assets that have quietly become the best-performing asset class of the decade. Since October 2020 when we first called for the commodity super cycle: QCI Total Return +217%, GSCI Total Return +205%, Gold +140%. NASDAQ trails at +130%. S&P 500 at +85%. The top three are all commodities. Yet oil cannot get out of its own way while copper and the broader atom complex prints fresh highs . That is the dislocation. That is the trade. Get long. Buckle in. Hang on for the ride. Forgive the longer posts in this thread — attempting to mimic my old 10-bullet commodity takes. On to it.

BREAKING: A newly-released OGE Form 278-T discloses that President Trump filed 3,642 trades involving stocks of public companies between January 1st and March 31st. Our team has sorted and analyzed the thousands of transactions. Transactions include hundreds of stocks and ETFs such as Nvidia, Microsoft, Broadcom, Amazon, Apple, Alphabet, Meta, Goldman Sachs, AMD, Airbnb, Palantir, Netflix, Costco, Walmart, JP Morgan, DoorDash, and others. Individual purchases of Nvidia, Microsoft, Broadcom, Amazon, Apple, and others ranged from $1 million to $5 million in disclosed value. Individual purchases of AMD, Goldman Sachs, Alphabet, Airbnb, DoorDash, Micron, Stryker, and others ranged from $500,000 to $1 million in disclosed value. President Trump also reported hundreds of stock sales ranging from $15,000 to up to $25 million. Should we produce a detailed breakdown of President Trump’s stock purchases and sales? More details to come.

In 1942, in Nazi-occupied Tunisia—the only Arab country to suffer direct German occupation—a drunken officer bragged at dinner about the Jewish woman he planned to seize from a forced brothel. He named her. Across the table sat Khaled Abdul-Wahab, a 31-year-old wealthy Muslim Tunisian who had studied art and architecture in New York, spoke fluent German, and was trusted by the Nazis. They invited him to their tables. He smiled, poured the wine, finished the meal… then raced through the night. He pounded on the door of the woman’s family at midnight. “Pack nothing. Come now.” He gathered 25 terrified Jews—mothers, fathers, children, cousins—and drove them nearly 20 miles to his family farm. For four agonizing months, he hid them in the olive press, stables, and storage sheds. He fed them as supplies ran desperately low. He kept crying babies silent. When German soldiers came to count Jews, the hidden families pinned on their yellow stars, stood motionless, then tore them off the moment the danger passed. One terrifying night, a drunk soldier stumbled upon them and threatened to kill everyone. An 11-year-old girl, hiding under a bed, watched in horror—until Khaled appeared like a guardian angel. He calmly disarmed the soldier and sent him away. No one on that farm died. In May 1943, the British liberated Tunisia. The 25 returned home alive. Khaled went back to his quiet life—painting, raising daughters, serving his country—and never spoke of it again. Not to his wife. Not to his children. He died in 1997 at 86. His secret died with him. A decade later, his daughter Faiza sat in a Paris café reading a newspaper. An American historian was describing a Tunisian Arab who had hidden 25 Jews. He named her father. She was 45 years old and hearing the story for the first time. “I rediscovered my father,” she said. Khaled was nominated to be the first Arab recognized as Righteous Among the Nations—Israel’s highest honor for those who saved Jews. The committee declined. Today, those 25 souls have hundreds of descendants living in Israel, France, America, and Tunisia. The little girl under the bed grew up, built a family in Paris. None of them would exist if Khaled had looked away that night. He had everything to lose. He acted anyway. Then he carried the silence for the rest of his life. The world almost forgot him twice. Now you know his name: Khaled Abdul-Wahab. A true hero. A Muslim who stood against evil when it mattered most. Colorized image of black and white photo poster by Israel the Jewish State.

Here's the P/E and P/S Ratio of $MU that enables AI GPUs with super fast High Bandwith Memory Cubes. Their HBM sales grew 50% sequentially and DRAM/NAND prices have bottomed. Micron intends to take at least 27% of the whole HBM market. Forward P/E ratio: 10.41 Forward P/S ratio of 2.77 Bargain of the Century