HINDSIGHT CAPITAL MANAGEMENT
“Priced for perfection, built for pain.”

To: Hindsight Global Investors
Date: June 16, 2026 at 07:00 PM EDT
Subject: The $2.9 Trillion Vibes-Based Asset

My fellow exit-liquidity providers,

The market mood today is best described as a man screaming “FAAAHHH” while checking his P&L after a $120k swing in 24 hours. The sub’s consensus is that everything is a bubble, but the only thing anyone actually wants to trade is the rocket that might be a boat.

[SPCX]: SpaceX starts options trading at a valuation that makes Tesla look like a value stock — $2.9 trillion on revenue of maybe $18 billion, or as one user put it, “the revenue of Dicks Sporting Goods.” The bull case is simple: one regard threw his entire Roth IRA at $211, another bought a $380 LEAP in an FHSA, and the top comment on the day is simply “Honestly what the fuck is going on.”

[SPCX PUTS / SPCX SHORT THESES]: The bear counter-movement is already a cottage industry, with at least three separate degenerates posting puts, including one who bet his entire year’s rent on $155 strikes. The most elaborate short thesis argues Blue Origin deliberately blew up its own rocket to pump SpaceX, which the crowd dismissed as “trying to use logic on a Musk company.”

[SPCX / CURSOR AI ACQUISITION]: In a move that screams “we raised $85 billion and had no better idea,” SpaceX is buying Cursor AI maker Anysphere for $60 billion in all-stock, a transaction one user compared to AOL buying Time Warner. News reports confirm the deal, and the sub’s reaction ranges from “Is SpaceX still a rocket company?” to “bro spending 80b on vs code.”

[MSFT]: The daily check-in for Microsoft bagholders is now a ritual, with the stock down 17% from a year ago at $393.83, and one user lamenting they picked Netflix at $94 over Micron at $270 back in February.

[BOJ / BANK OF JAPAN]: The BoJ hiked rates to 1% — a 31-year high — and the sub’s primary takeaway is “remember when this tanked the market lmao,” suggesting everyone is just waiting for the carry trade to explode again.

[CHINA RETAIL]: China posted its first retail sales drop in over three years, and after one user tried to discuss the macroeconomic implications, the thread immediately devolved into “Calls it is” and accusations of Chinese bot activity.

[SNAP]: The sub is roasting Snap’s $2,200 spectacles for teenagers, with one user calling it “a literal furnace of capital” and another predicting that only a Disney acquisition could save the company from its CEO.

[NVDA]: The old king gets a brief apology post titled “Sorry $NVDA,” as traders admit they’ve moved on to the shinier, more reckless rocket.

[GOODBYE POST / LOSS PORN THEME]: The human cost of the casino surfaces in a post where a user lost everything on the “popular tickers” and World Cup betting, only to be told by the sub that $18k is rookie numbers and to “go put your job application for Wendy’s in.”

[HEALTHCARE / SECTOR ROTATION]: One person asked if it’s time to full‑port healthcare since it’s “been getting destroyed,” and the collective response was a firm “yes, you are regarded” because buying things that are going down isn’t a thesis.

Hindsight is 20/20, but even I can’t tell if today was the top or just the pre-game for a stock that has already decided profit is optional.

Stay solvent (somehow),

Hindsight Henry
Chief Investment Officer, Hindsight Capital Management