To The Moon

Peptides could be a new multi-billion-dollar market for companies like Hims & Hers $HIMS. What are these peptides, and what do they do? Here's what you need to know about all 19 peptides in question today, 14 of which may soon be legal to compound (according to RFK) 👇 1. BPC-157 Note: These infographics are made by Gemini and are for informational purposes only. 2. Thymosin Alpha-1 (Ta1) 3. Thymosin Beta-4 Fragment (TB-500) 4. AOD-9604 5. CJC-1295 6. Ipamorelin Acetate 7. Selank Acetate (TP-7) 8. Semax 9. GHK-Cu (Copper Peptide) 10. GHRP-2 11. GHRP-6 12. Epitalon 13. KPV 14. Kisspeptin-10 15. Melanotan II 16. MOTS-c 17. PEG-MGF (Pegylated Mechano Growth Factor) 18. Emideltide (DSIP - Delta Sleep-Inducing Peptide) 19. Cathelicidin LL-37 For SG users only, Welcome to open a CBA today and

Why have SaaS and growth stocks taken it on the chin in 2026 while boring businesses like Walmart and Coca-Cola rise? It’s all about math. I’m not going to make you do math today, but I do want to show why the math behind analyst models is driving the market to strange places so far this year. Terminal Value Explained In Re-Rating the Stock Market, I wrote about how changing expectations for future free cash flow can cause investors to value stocks differently. What that article missed was the tangible calculations behind how investors think about valuing companies…at least on an academic level. In theory, stocks are valued based on the present value of all future free cash flows. That’s an easy statement to make, but it’s fraught with assumptions that I generally think are BS because we c

This group reflects a market that is sharply distinguishing between disciplined execution and fragile narratives. FIGS, Inc. has rewarded patience with a 130% gain, while Tesla, Inc. continues to navigate uneven growth momentum. Netflix, Inc. strengthened its strategic flexibility by avoiding a leveraged deal with Warner Bros. Discovery, preserving balance sheet health. Meanwhile, DraftKings Inc. demonstrates that scale and revenue growth alone do not ensure sustainable profitability. 1. $FIGS, Inc.(FIGS)$ Sometimes, a thesis takes a while to play out. Figs is now up 130% in the Asymmetric Portfolio. That's a surprise to me too! 2. $Tesla Motors(TSLA)$ TSLA growth has been negative 4 of the last 8 quarter

As humans, we have a tendency to imagine a world that doesn’t yet exist and simplify how easy it will be to get to this imaginary place. In reality, change happens slowly on a day-to-day basis. Yes, a lot has changed in the last few decades, but in many ways, nothing has changed at all. In 1995, Bill Gates became the richest man in the world, a title he’s within striking distance of holding today. In the 1940s, $Coca-Cola(KO)$ became a consumer staple drink, a place it still holds today. $Nike(NKE)$ was the “IT brand” when I was a kid, and 40 years later, Jordan (a Nike creation and brand) is the “IT brand” for my son. $General Motors(GM)$ and

Duolingo trades near $4.6B market cap with $1.1B cash, giving ~12x adjusted EBITDA, highlighting long-term growth potential despite high SBC spend. On Holding faces currency headwinds ahead of its earnings report but remains a top brand in the portfolio for compounding returns. 1. $Duolingo, Inc.(DUOL)$ Duolingo $DUOL has $1.1 billion in cash and if the ~21% drop holds would trade for about a $4.6 billion market cap. That's an enterprise value of $3.5 billion, or 12x adjusted EBITDA. This is still a growth company sacrificing short-term profitability for long-term growth! My biggest problem right now is spending 15% of revenue on SBC. 2. $On Holding AG(ONON)$ My #2 holding in the Asymmetric Portfolio repo

We're selling consumer spending and credit risk but buying big pharma because people with no money are going to buy GLP-3s? Ohh, and YAY Walmart $Wal-Mart(WMT)$ ! And energy and telecom are up because something, something people are going to drive their cars in default to jobs they don't have. BTW, the AI disrupting the economy is BS and semiconductor stocks are all doomed. But seriously, more drugs! Did I make sense of today's market? $Apple(AAPL)$ $Microsoft(MSFT)$ $NVIDIA(NVDA)$ $Alphabet(GOOGL)$ $Broadcom(AVGO)$

I didn't understand $Netflix(NFLX)$ 10 years ago, but I learned lessons from that mistake. 1. Users > Profits: In a digital business, it's critical to reach scale. Profits don't matter on the path to scale. 2. Delay Taking Price: Margins are low? Who cares! See #1. 3. Suppliers eventually have to bend the knee to the one who owns demand. You don't say, "I'm going to watch Sony's K-Pop tonight." You say, "I'm going to watch Netflix." Demand matters above all else. Owning the customer is the ultimate goal. The companies we CHOOSE to interact with are the ultimate winners on the market. For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as

In April 2025, President Trump announced sweeping tariffs that sent the market into a tailspin. Companies from apparel to automotive reconfigured their supply chains in order to adjust to a seemingly constant flow of tariff changes day after day. And on Friday, most of those tariffs were deemed illegal by the Supreme Court. We don’t know if consumers, manufacturers, importers, retailers, or someone else will get the ~$175 billion in tariffs already paid back, but there’s at least some resolution to last year’s biggest wild card. While the Supreme Court ruled the president can’t put specific tariffs on countries willy-nilly, he can legally put a blanket tariff of up to 15% on all imports (Congress gave that power), which is exactly what President Trump has done. For now, that seems to be wh

OpenAI is reportedly finalizing a $100 billion funding round that includes $Amazon.com(AMZN)$ $Softbank Group Corp(SFTBY)$ $NVIDIA(NVDA)$ $Microsoft(MSFT)$. The deal will push OpenAI’s valuation to $850 billion, which would make it the 12th most valuable company publicly traded in the U.S., and funding is now over $160 billion. Every time I hear about one of these big funding rounds, it makes me nervous because the foundation on which these valuations are being built is tenuous, at best. And still, the funding and spending on AI is driving everything from semiconductor stocks to HVAC, energy, and materials stocks higher

Is Something Big Really Happening? Why (I think) Silicon Valley and Wall Street are so terrified of disruption this time. Software and growth stocks are getting hammered as investors price in a high likelihood of disruption from artificial intelligence (AI) across the board. What solidified this freak-out in my mind was a viral post called Something Big Is Happening that reads like “my programming job is being replaced by AI, and you’re next.” What’s the fuss all about? What’s signal and what’s noise? I think we need to take a step back and look at who is being impacted by AI today and why they’re so worried. No surprise, the fear of disruption is emanating from Silicon Valley and Wall Street. The market isn’t worried about farming jobs. Or construction jobs. Or manufacturing. Or retail. T