Piggyback Capital

Defense companies are the winners.

Reminder (as much to myself as to others!) Real money is made holding a few great stocks that double / triple over time at good prices. Trying to trade in a chaotic tape can work but the above is a time tested recipe for success. 🙏🏼

And thats just a random guy, imagine a government's AI

SK hynix begins selecting underwriters for potential U.S. ADR issuance ▶️ Key points • SK hynix has distributed RFPs to major global investment banks as it moves forward with preparations for a potential U.S. ADR listing. • The expected deal size is estimated at KRW 10 trillion to KRW 15 trillion, with a new share issuance seen as the most likely structure under review. • Industry sources expect the listing could take place within this year. ▶️ Management comments • SK Group Chairman Chey Tae-won directly stated at GTC 2026 that the company is reviewing an ADR listing. • He emphasized that such a move would allow SK hynix to gain exposure not only to Korean shareholders, but also to U.S. and global investors, making it a more global company. • At the company’s 78th annual general meeting on March 25, a proposed amendment to the articles of incorporation regarding the holding and disposal of treasury shares will be submitted for approval. ▶️ Market implications • A move into a higher-valuation market could support a re-rating of the stock.

Bought the dip on $SU.TO on the market open. Since then up 1% and rising as the market discovers, slowly but surely, that trump tweets can't repair oil infrastructure. Also unlikely Iran don't retaliate since they got hit hard last night, but we will see.

$WPM down $50 in a straight line & you can justify the valuation here. Oversold and at the 200 day Been long $SU for a few months, it's getting a little wild (1w RSI at 87). Same for $CNQ Feel like we're due for a quick countertrend to reset the momentum. Maybe Trump jawbones it

JD Vance is considering not running for President in 2028 due to "family priorities" - WaPo

Markets jumping after Trump said US and IRAN are in discussions to end the hostilities.

I said last Sunday, “It takes one to start a war but two to end it. Iran does not seem to want that.” In addition, comments by the Fed, ECB and BOE around potential rate hikes caused a surge in global bond yields. As a result last wk, Brent surged 9% to $112, while SPX fell 1.9% and bonds were hit driving 2yr yields up 18 bps while gold (typically a safe haven in times of stress) was blasted for 10%. More conservative investment strategies will have a mix of equities, bonds (60/40 portfolios as an example) and precious metals. Some leverage may also be employed to enhance returns given the lower level of volatility in that type of portfolio compared to just a pure equity portfolio. Bonds typically are good hedges on a flight to safety trade as are precious metals when stocks suffer severe declines. When investors lose money on all three by the amounts that happened last week, typically some forced deleveraging is also occurring which happens closer to a short-term bottom. This gives me hope that it will take very little good news on the Iran front, to spur a rally in the stock market. Positives include both the US and Israel agreeing that Iran’s capacity to make nuclear weapons and wage war have been mostly destroyed giving them an off-ramp to end their attacks. But the second participant in this conflict seems willing to threaten any ships not belonging to Iranian allies that are going through the Strait of Hormuz, regardless of what the US & Israel decide to do. In addition, Iran launched missiles this weekend against the military base at Diego Garcia which is ~2,500 miles away and roughly twice the distance that they were estimated capable of. This shows that Western Europe is within range. In addition President Trump and Iran exchanged threats to destroy energy infrastructure this weekend. One option being considered was US boots on the ground which accelerated the stock market sell-off in the afternoon on Friday. But I believe the current US administration would like to avoid this option if possible and declare “mission accomplished.” In addition, while the US does not need the Strait open given we have been a net oil exporter since 2020, China relies on the Strait for nearly half of their oil so they are likely to put pressure on Iran. This is why Brent has risen to a $14 premium to WTI. WTI prices were actually down slightly last week. From an investment perspective, on Friday, 18% of the over 20 technical metrics I track were at oversold levels. Based on the historical metrics, I use ~50% as a good statistical threshold for having reached a short-term bottom. Given what Monday is likely to look like given the escalation in the Iran conflict over the weekend, it might get to 50%. But as I wrote on Friday, I believe now is the time to start deploying some capital and gold related exposure is a good starting point. It has gone from overbought earlier in the year to now oversold. U need to stay MESI in this environment with Utilities, Materials, Energy, Staples and Industrials all still up (9% on average) for the year versus the S&P down 5%. As for the artificial intelligence trade, AI agents that require multi-step workflows versus Chat-based AI answers drive a ~10-100x increase in token demand. The inflection point was Clawdbot which was released on 11/24/25 with the current “OpenClaw” name and architecture finalized on 1/30/26. According to one metric I track, token generation is now up over 130% in the past two months versus growing nearly 20% in the two months leading up to late January. As a result, I am bullish on AI related names such as 1) $GOOGL – they have the full AI stack 2) $NVDA- silicon vendor that makes AI possible 3) Memory vendors given the ramp in agentic AI 4) $CSCO- upgrading networks for AI 5) Industrial plays for datacenter construction While I do not recommend pushing on shorts right now given the oversold nature of the market, I continue to dislike on a longer-term basis: 1) Companies with a large exposure to OpenAI 2) Software that is not system of record, security or higher end gaming 3) Private credit or private equity related names with a heavy exposure to software 4) Consumer electronic related names that are not in the premium segment that are likely to get hurt by higher memory prices I believe it will take at least a year for THE bottom to be reached in the sectors above and in the interim, we are likely to have many substantial rallies along the way. As I have written before, the S&P declined 49% from peak to trough over 31 months during the bursting of the tech bubble but there were 7 rallies that averaged 14% each during that time that occurred over just 2 months on average. In addition, typically the most structurally challenged names, rally the most during these periods of time given they were down the most. Best of luck in the week ahead.

U.S. President Donald Trump: "We are getting very close to meeting our objectives as we consider winding down our great Military efforts in the Middle East with respect to the Terrorist Regime of Iran: (1) Completely degrading Iranian Missile Capability, Launchers, and everything else pertaining to them. (2) Destroying Iran’s Defense Industrial Base. (3) Eliminating their Navy and Air Force, including Anti Aircraft Weaponry. (4) Never allowing Iran to get even close to Nuclear Capability, and always being in a position where the U.S.A. can quickly and powerfully react to such a situation, should it take place. (5) Protecting, at the highest level, our Middle Eastern Allies, including Israel, Saudi Arabia, Qatar, the United Arab Emirates, Bahrain, Kuwait, and others. The Hormuz Strait will have to be guarded and policed, as necessary, by other Nations who use it — The United States does not! If asked, we will help these Countries in their Hormuz efforts, but it shouldn’t be necessary once Iran’s threat is eradicated. Importantly, it will be an easy Military Operation for them."

Optimus+PV will be the first Von Neumann probe, a machine fully capable of replicating itself using raw materials found in space

Week in Review: YTD Perf 35.7% - $FNV, $WPM (exits) + $SU Quick one this weekend. TTF gas and middle distillates are going to be higher for longer. Things are going to get rowdy and we'll have wild swings, up and down. Your boy is ready to take some scalps.

14% of $CRM's shares will disappear in 5 days