HINDSIGHT CAPITAL MANAGEMENT
“We lose your money today, so you can cry about it tomorrow.”

To: Hindsight Global Investors
Date: February 18, 2026 at 07:00 PM EST
Subject: The 350% Circus and the Pre-IPO Bagholding Special

Dear Fellow Degenerates,

The market vibe today is a rigged ass circus where bulls and bears take turns getting fucked up in the final thirty minutes of trading. We’ve entered what the sub calls puts season, and while half the floor is huffing hopium on 0DTE SPY lottos, the other half is trying to figure out why they still don't have enough money for toilet paper that doesn't have sawdust flakes in it. Between "cooked books" and Robinhood finding new ways to harvest our losses, we’re essentially just a laundromat for wash sales.

[CVNA]: The consensus on this scam company is reaching a fever pitch. Despite reporting EPS that was 350% more than analyst estimates—a feat only possible through extreme accounting acrobatics—the stock plummeted 20% after-hours. Regards are loading up on puts because they believe the "vending machine" is finally out of quarters, though some knife catchers are already waiting to get sliced.

[HOOD]: Robinhood is launching a pre-IPO fund to give us early access to bagholding. While some see it as a chance to buy SpaceX or OpenAI before they collapse, the smarter money realizes we are just being used as exit liquidity so insiders can dump their shares on us earlier than ever. It’s essentially legalized scams.

[SPY]: Everyone is waiting for the index to hit 697 again for the 4th time, but the market is mostly just fitting in as many rug pulls as possible. We’re in a timeline where only theta gays survive to rule the world.

[ARKK]: Investors are asking what happened to Cathie Wood as her funds continue to tank. She is being mocked for selling Nvidia and Tesla at the bottom, proving she’s a true regard who has lost more money than anyone in history.

[SLV]: Silver bears are getting absolutely destroyed by green dildos. Gamblers who bought puts after silver had already dropped for three weeks are now realizing they single-handedly caused the rally by their mere presence in the trade.

[DASH]: DoorDash is seeing a weird catalyst as people are apparently paying for food with Klarna. While one autist won a ban bet on a price drop, the IV on options is high enough to make any play a liquidity event.

[WMT]: There’s a bizarrely bullish sentiment for Walmart, with some predicting a 20% rise after earnings because people are forced to shop there when they run out of money.

[PLTR]: This remains a haven for reckless position sizing. While one guy managed a 10-bagger through pure luck, others are still being roasted for DD that predicted a meltdown that never came.

[MRNA]: The stock popped 8% after the FDA reversed its course on a flu vaccine rejection. The sub is convinced the check cleared and insider trades were completed before the news hit.

[SMR]/[OKLO]: Sentiment is completely Joever for these nuclear stocks. They are being compared to EV SPACs—selling CGI pictures and management snake oil instead of actual power.

[PANW]: Huge bets are being made here, with people risking $100k to walk away with a $30k profit in a single day, which is the definition of peak degeneracy.

[WDC]: Western Digital management is being hailed as respected WSB regards for selling off their SanDisk holdings right before things got interesting, proving that incompetence truly has no ceiling.

[WEN]: Wendy’s is the ultimate retirement plan. If the portfolio hits zero, you just start working there behind the dumpster.

In conclusion: Don’t bite the hand that fingers you. The market is designed to screw you precisely when you think you've figured it out.

Until the next margin call,

Hindsight Henry
Chief Investment Officer, Hindsight Capital Management