The ”Perimeter of Debt”. Burry just added to his four biggest shorts and compared today’s market to 2005 — right before the mortgage crisis. His latest warning: the debt the market may not be counting. After building bearish positions across semiconductors and some of the market’s biggest AI names, he added again this week — including to Nvidia, Palantir, Oracle, Caterpillar, and SOXX. Then he brought up 2005. His concern goes deeper into the AI supply chain — long-term leases, purchase agreements, power contracts, and other commitments that companies may be taking on today to secure...

…coincidence? Maybe. Defense tech is having a very good week. Or… the Pentagon just put a number on the bottleneck. Within days, a $1.37 billion raise, a $300 million funding round, and a company targeting a $2.53 billion IPO valuation all landed across different corners of the defense industry. Normally, those would be three separate stories. Except the Pentagon just told its biggest contractors to figure out how to build weapons faster. Recent conflicts have put pressure on US missile inventories, while the systems used to find and track targets have become considerably faster and...

The Pattern. Jeff Bezos has impeccable timing. Or… a trading plan established nine months ago. Amazon crossed $3 trillion in market value for the first time this week after a blockbuster earnings report. Not long after, a multibillion-dollar Bezos stock sale hit the filings. Normally, that would be an interesting coincidence. Except something similar happened around Amazon’s previous trillion-dollar milestones too. Three milestones. Three increasingly large rounds of selling. Let’s follow the money.⇩ SPONSOR BREAK presented by Brownstone* Do this before November 3 For the...

Perfect Timing? Buying when everyone agrees is easy. Buying when almost nobody does is the real test. Cathie Wood made several notable portfolio moves this week. One came just as SpaceX was navigating one of its most difficult stretches since going public. Another involved selling one of the market’s biggest winners. Here’s what she bought, what she sold, and why both trades immediately drew attention.⇩ SPONSOR BREAK presented by Brownstone* Do this before November 3 For the last 78 years, one thing has predicted a bull market… With 100% accuracy… The midterm election. It...

Follow The Money. One company’s expense is another company’s earnings. SpaceX’s decision to more than double its AI capital spending rattled investors this week and helped send the stock sharply lower. But that same $15.8 billion didn’t disappear. It flowed into a growing network of companies building the power plants, turbines, electrical equipment, cooling systems, and infrastructure needed to support AI at unprecedented scale. In other words, while investors were debating whether SpaceX was spending too much, someone else was reporting one of their best quarters. Here’s...