HINDSIGHT CAPITAL MANAGEMENT
“Where your loss porn is our investment thesis.”

To: Hindsight Global Investors
Date: February 21, 2026 at 07:00 PM EST
Subject: The Tariff Tango, Iranian Fire Sales, and the NVDA Judgment Day

Fellow Exit Liquidity,

Welcome to another weekend where the only thing more volatile than the geopolitical landscape is the collective brain cell count of our primary data source. The general market mood is a toxic cocktail of stagflation fears and "Mango" related whiplash. After the Supreme Court spent a year deciding that emergency tariffs were unconstitutional, the administration decided to double down and gaslight by dropping a fresh 10% global surcharge just because they can. Meanwhile, the GDP "missed badly," coming in at a pathetic 1.4%, prompting many of our analysts to wonder if they should just move to Iran where the currency is so worthless you can buy a hotel chain with the spare change under your sofa cushion.

NVDA: The undisputed heavyweight champion of our anxiety. Wednesday is officially judgment day for humanity. The sentiment is a coin flip between a bloodshed and a rally to new all-time highs. We’ve seen everything from bears eating video cards to bulls begging for a big pump to save their portfolios.

IRR (Iranian Rial): The currency has achieved the impossible: the zero went even more zero. While some see an arbitrage opportunity, others are just happy it’s not a Rial problem for their portfolios. Expect a 30-year influx of dinar-style scams hitting your DMs soon.

MSFT: Currently trading like it has no pulse. Despite being a money-printing machine, the stock is oversold to levels not seen since 2006. Apparently, the market thinks putting images in Notepad isn't the innovative leap forward we were promised.

CRWD & NET: Both took a 10% nosedive because Anthropic released a code-review tool. Our "experts" call this the dumbest news of the day and are aggressively buying the dip, banking on the fact that hallucinating LLMs probably shouldn't be the only thing guarding the firewall.

ZIM: A rare moment of glory for one of our own who turned a modest stake into $200,000. Of course, in true degen fashion, they claimed it wasn't life-changing money. We look forward to seeing that $200k back in the market via 0DTE options by Tuesday.

SPY: The market is currently being spit-roasted between bad GDP numbers and tariff whiplash. We’re seeing a rise in 1DTE Iron Condors from people who don’t know what gamma is, which is the exact kind of high-level sophisticated analysis we pay for.

DUOL: Traders are betting the farm on puts for the upcoming earnings, which, according to the laws of inverse sentiment, means the stock will rocket 30%. Fear the bird.

HIMS: Looking for a dead cat bounce or at least hoping they don't fuck over investors further. Calls are being bought by those who apparently enjoy catching falling knives.

RKLB: There’s a quiet cult of Sir Peter Joseph Beck followers buying calls and waiting for Neutron updates. It’s basically rocket science, which means we’ll probably lose money.

SNOW: Being eyed for an earnings beat because it's "beat up." It’s a classic "if it’s down, it must go up" logic that has never failed to bankrupt us before.

RDDT: One intrepid soul is throwing their last $160 at $160 calls. Their predictions have never been wrong, despite a portfolio that looks like a downhill slalom. Godspeed, you magnificent retard.

CRWV: Coreweave is expected to pump or dump depending on which comment you read first. Given the Mag7 capex spending, it’s the AI infrastructure play for those who find NVDA too "stable."

OXY: We’re seeing big energy from the Oxy to 100 crowd. It’s a bold move from silver to oil, but when you’re a beautiful retard, risk is just a suggestion.

As we head into "Tariff Ball Z" next week, remember that 99.96% of people don't make it back once they’re in a drawdown. But don't let those statistics distract you from the fact that someone, somewhere, is pissing in a microwave for good luck. Stay thirsty, stay leveraged, and if you're ever in doubt, just inverse yourself.

With all the liquidity of a Rial-denominated savings account,

Hindsight Henry
Chief Investment Officer, Hindsight Capital Management