Heads Burry Wins. Tails? Michael Burry is short Nvidia. But days before earnings, he did something that seems to point in the exact opposite direction. He bought Nvidia calls. Then he made things even more confusing by describing the stock as “wildly undervalued.” Which got us wondering: How can you think Nvidia is undervalued, bet on it going up — and still be short the stock? The obvious answer would be that Burry changed his mind. He didn’t. In fact, the calls only make sense because of the much bigger bet sitting on the other side. And Burry himself described what came next as essentially...

$100B Quarter… → Nvidia beat revenue estimates. → Beat profit estimates. And could be heading for its first $100 billion quarter. Great news for Nvidia. But apparently, also for everyone else. Nvidia now sits in the middle of an AI spending chain that stretches from memory chips and data centers to electricity, cloud computing and Big Tech’s enormous capex budgets. Which got us wondering: How did one company’s quarter become everyone else’s business? Here’s where Nvidia got so important.⇩ SPONSOR BREAK presented by DealMaker* Ends Tonight: The ‘Nvidia of Energy’ Has a $2.1T Opportunity Nvidia’s...

15% in a month… Gold is back. December futures climbed above $4,700 this morning, reaching their highest level since May. And this hasn’t exactly been a slow crawl. → +6.3% in one week→ +14.9% in one month→ +39.5% in one year That’s a pretty good month for something people usually buy when they’re nervous. But the timing is the interesting part. Here’s the story.⇩ SPONSOR BREAK presented by MarketWise* #1 Stock to Own as Trump Launches Historic Mission Backing “Medical AI” In the biggest federal push since the Apollo program that landed on the Moon… Trump is now pouring...

$1 trillion by 2030… That’s Elon Musk’s new target for SpaceX. For context, analysts expect SpaceX to generate roughly $44.6 billion this year. So getting to Musk’s number would require revenue to grow roughly 22-fold in four years. Ambitious? Very. But then we looked at who else is approaching $1 trillion. Amazon generated $716.9 billion last year. Walmart did $713.2 billion. Meaning both are already more than 70% of the way there. So we have SpaceX trying to pull off one of the fastest revenue expansions in corporate history… …and Amazon potentially reaching the same milestone...

The Speed Of Debt… The national debt crossed $40 trillion this week. But the size of the number isn’t nearly as striking as the speed we’re adding to it. Forty trillion is hard to picture. Six weeks isn’t. From 1776 to 1976 — through the Civil War, two World Wars and the Great Depression — the United States accumulated roughly $550 billion in federal debt. That took 200 years. This summer, America added roughly the same amount in about six weeks. And this week, the total pushed past $40 trillion. The chart makes the acceleration hard to miss. But the more interesting story...

Wait, The Treasury Buys Treasuries? The Treasury just announced it will at least double the size of one of its bond buybacks. Which sounds extremely boring. Until you see what happened next. Long-term Treasury yields moved lower, while equity futures moved higher. And the timing made it more interesting: Treasury had published its quarterly buyback schedule only two weeks earlier. This increase wasn’t on it. So why did markets care? Here is the story. ⇩ SPONSOR BREAK presented by MarketWise* “I called Tesla in 2019. Here’s what I’m buying now.” Everyone said Tesla...