HINDSIGHT CAPITAL MANAGEMENT
“Past performance is the only thing that matters. Future performance is someone else’s problem.”
To: Hindsight Global Investors
Date: June 03, 2026 at 07:00 PM EDT
Subject: AVGO, The $1,100 SPCE Bag, and Why Your Mom’s Friend Is Selling Her House for Micron
Fellow regards,
The market mood is a beautiful contradiction: everyone is simultaneously convinced that AI will print infinite money and that the entire thing is a rug pull so epic it will make the South Sea bubble look like a responsible savings account. Let’s sort through the rubble.
[AVGO]: Broadcom delivered a beat-and-raise, but the stock sank after hours on “disappointing software revenue” and an AI sales forecast that wasn’t stupidly high enough. The crowd is treating it as a sell-the-news event, though one user points out it’s back to May 18 levels—which were still a record. Hock Tan accidentally reading the wrong year’s prepared remarks didn’t help, and the sub is split between “buy the dip” and “AVGO stands for All Value Gone Overnight.”
[SPCE/LUNR/RKLB/ASTS]: Space stocks are having a week that makes 2008 look orderly—Virgin Galactic crashed 40% on dilution fears after the SpaceX ticker mix-up, and Intuitive Machines is diluting 5% while Rocket Lab takes an even worse beating. One degenerate is bag holding 3,200 LUNR shares at a $-20k loss, and an OG SPCE bag holder with an $1,100 cost basis just bought another 1,000 shares at $4.85 because pain is the only constant.
[SPACE IPO]: Reuters reports SpaceX plans a record $75 billion IPO at $135 per share, valuing it at $1.75T, and the sub’s reaction is a chorus of “manufactured hype” and “will I buy it? hell no.” One user suggests buying other space stocks on hope that Elon’s moon shot lifts all boats before the inevitable dilution.
[META/MSFT/AMZN/GOOGL]: Goldman Sachs says Big Tech will spend $5.3 trillion on AI from 2025 to 2030—more than Japan’s GDP, all so your chatbot can write a slightly better haiku. The top comment asks the only question: “I don’t care if they make profits. I care if I make profits.” Another user warns the $725 billion capex in 2026 alone will eventually squeeze margins and trigger a 2029 crash.
[VSCO]: Victoria’s Secret shares spiked 40% on a massive earnings beat, and the sub credits everything from Ozempic to a lesbian CEO who loves boobs and thongs—more coherent than any AI thesis all week. One user calls it the “White girl index” comeback alongside EL, FB, LB, LULU, NKE, SBUX, ULTA, and VFC.
[OIL]: Crude sits below $100 despite Strait of Hormuz chaos and the SPR being drained like a keg, and one user sums it up: “Reality isn’t real. Paper markets are.” Another flags August as a tipping point for supply shortages, giving you six weeks to decide between deflagration and panic rate cuts.
[SPY/QQQ]: The bear case is getting louder—one degenerate is down 50% on his puts and still insists an oil-shock-induced liquidity drain is coming for Pride Month, while another user bought $20k of QQQ calls expiring in over a year (the most regarded thing today). A third user notes someone bought $20k of SOXS, creating a beautiful conflict of two regard-ed forces.
[CIRCULAR ECONOMY]: A 9,400-upvote video about how debt increases the money supply has the sub arguing over triangular debt forgiveness, with one comment suggesting Human Centipede for a better understanding—truly the deepest macroeconomic analysis this firm has ever funded.
[SNDK/MRVL]: One user predicts the AVGO dip will somehow boost SNDK another $200 and drop MSFT $20, while another notes that Marvell “adding 50b market cap because of a comment from another CEO is peak euphoric pricing.” They aren’t wrong, but that doesn’t mean the trade won’t work.
[HPE/ORCL]: One thread expects HPE earnings to deliver a “monster beat and increased guidance” following Dell and AI infrastructure playbooks, with $55 calls for 6/12. Oracle calls are being heavily accumulated for the earnings after next—institutions buying means the retail top is probably in.
[AVGO again – the YOLO]: At least one regard full-ported $37k in AVGO calls before the dump, and another bought $400k in shares because “we’re not making the same mistake as Dell.” The after-hours slaughter suggests those mistakes are now on a whole new level.
The takeaway is that every narrative is both completely true and totally fabricated, Broadcom is a screaming buy or a hilarious short depending on which Reddit comment you read last, and if your mom’s friend sells her house to buy MU at these prices, she’s going to learn the same lesson the SPCE bag holder learned six years ago: momentum doesn’t care about your thesis.
Stay solvent (somehow),
Hindsight Henry
Chief Investment Officer, Hindsight Capital Management