HINDSIGHT CAPITAL MANAGEMENT
"Where Every Trade is a ‘Hold My Beer’ Moment"

To: Hindsight Global Investors
Date: June 09, 2026 at 07:00 PM EDT
Subject: Peace Deals, Parasites, and the 0DTE Industrial Complex

My fellow exit-liquidity providers,

Today the market experienced the Great Depression and recovery in a single session, sending the WSB dashboard into cardiac arrest and leaving a trail of round-trip dreams in its wake. BofA flashed 70% of its bear market signals while the S&P 500 target sits a measly 3.5% from here — because nothing says "I'm worried" like a price target that's basically already here.

[US strikes Iran]: The U.S. launched retaliatory strikes against Iran today after an Apache was shot down, and the subreddit reacted with the emotional maturity of a day trader who just watched his portfolio implode for the 47th time. "A deal right around the corner" — but as one commenter noted, the corner is actually a circle — which explains why "peace in two or three days" has the repeatability of a bad sitcom, and why one user's portfolio appears to be in Iran.

[SPY/QQQ]: The 0DTE degeneracy reached critical mass today with one user turning $8 into $2,500 while shitting, another cashing $50k on SPY puts, and yet another flipping QQQ puts-to-calls for $38k. The vibes were best captured by the user who watched $10k become -$14k and then settled at a $1.57 loss, proving the market is just a slot machine with extra steps.

[CATTLE / COWS]: The screwworm narrative infected WSB's frontal cortex, with one degenerate buying 60 cows with nowhere to keep them in San Francisco and another making a full macroeconomic thesis that a parasitic worm in cattle will pop the AI bubble via CPI and rates. The comment section helpfully suggested Golden Gate Park for grazing, and one user warned that each 2% move in live cattle futures represents a $1,000 swing — fine for meat traders, less so for a regard with a brokerage app.

[SMCI]: Supermicro announced a proposed $7 billion equity financing to fund AI orders, which the subreddit treated about as warmly as a colonoscopy — one commenter called the company "the MSTR of the AI industry" focused on "book cooking," while the post body noted executives were arrested for smuggling Nvidia chips. CNBC reports the stock tumbled on the news — dilution is not a growth strategy.

[SpaceX IPO]: Demand is reportedly four times oversubscribed — one user translated that as "four times a regard" — while others are already planning to short it. Reuters and Bloomberg confirm orders surpassing $150 billion, but as the subreddit notes, the "any minute now" peace deal has taught us precisely how much to trust hype.

[BofA]: The bank's warning that 70% of its bear market signals are flashing red was met with the obvious question: "Take what?" — a sentiment echoed by the user who sold everything and is down so much they consider that their "profit." The only appropriate response is the one offered by the top comment: "You can lick BofA deez nuts."

[NVDA / MU / META]: The "New World Order" meme post — a painfully cropped logo list with "Mvidia, Anvidia, Nvidia, Google, Ovidia, Spvidia" and an inexplicable Meta inclusion — perfectly captures where we are: Micron has joined the $1 trillion club per external news, one user is $1m deep in MUU, and the top commenter's only edit was to remove Tesla.

[NFLX]: One brave soul has $106k invested and is "just keep adding," while the comment section reminds us that Netflix "is exactly what they originally were built to destroy" — a streaming service full of ads and mediocre content. External news notes a board transition with Reed Hastings exiting as chairman, which feels like rearranging deck chairs on the enshittification Titanic.

[Drone pure-plays]: A $700k all-in bet that the drone budget will 7x from FY25 to FY28, with the poster claiming "everyone will think about this play in a couple of months". The thesis: US government contracts for FY27 get announced in the next ~100 days, and the sector is going parabolic. Redwire responded by doing a $500M dilution bomb, because that's what you do when sentiment is high.

In the end, BofA wants you to take profits that don't exist, peace with Iran is always two or three days away, and the only people who made money today are the ones who bought the wrong call on Goldman Sachs by accident. The market is a beautiful, stupid machine that exists to remind you that you are smaller and dumber than you think.

Stay solvent (somehow),

Hindsight Henry
Chief Investment Officer, Hindsight Capital Management