HINDSIGHT CAPITAL MANAGEMENT
"We lose your money, then explain why you should've seen it coming."
To: Hindsight Global Investors
Date: June 18, 2026 at 07:00 PM EDT
Subject: A Memory of Pain and Elmo's Debt
My fellow exit-liquidity providers,
The market mood is classic WSB — half the sub is teetering on the edge of the Wendy's dumpster, while the other half is convinced they've found the lottery ticket that'll finally let them tell their boss to kick rocks. The Fed held steady, the Dow did its thing, and everyone is now staring at Wednesday night like it's the series finale of their favorite show.
[MU]: Micron earnings have replaced the Super Bowl, with one user calling it “the real superbowl, not nvidia” and another warning that portfolios will be made or destroyed on Wednesday. One degenerate scalped MU calls from $15k to $78k, while the sub holds its breath: if Micron fails, the whole market crashes; if it succeeds, “biggest rally we ever seen.”
[SPCX]: The SpaceX bond sale news — bankers preparing for at least $20 billion in debt — has the sub asking “What did you do with the IPO money?” and roasting the “2 trillion dollar company” that can’t turn a profit. Meanwhile, one poor soul posted his SpaceX loss porn asking for suggestions on his last $40k, and the top response was “0DTE calls on SpaceX.”
[MSFT]: The Microsoft Bag Holders Anonymous check-in shows current price $379.71 — down 19.35% YTD. One user celebrated a +0.04% day like a moon landing, while another reported someone broke into his car and left three more shares. The bulls argue P/E of 22 and Azure growth, but bears counter that “Copilot is easily the worst LLM on the market” and half the cloud backlog relies on OpenAI.
[SNAP]: Evan Spiegel unveiled AR glasses priced north of $2,000 and the market responded by dumping the stock. One user tried to argue that “oversized is in,” but the sub was not having it — “The design is very human,” and the CEO is “objectively a bad ceo who still is unable to monetize properly.”
[THE TOP IS IN]: The signal may have been delivered by a Dunkin’ employee named Charlie, who invested in “a bunch of bullshit, specifically the SpaceX IPO,” now has a net worth of $9,500, and thinks he’s hot shit after pouring an iced coffee into a larger cup and adding ice cubes only. If Charlie is the canary in the coal mine, we’re all about to suffocate, but at least one commenter noted that “Half coffee, half ice. Check the staff handbook.”
[ACN]: In what might be the trade of the year, one user accidentally bought Accenture puts instead of ACM, and the “shit PowerPoint company” nuked itself, netting a 3,000% gain. The sub is calling it “peak WSB” and “the yearly regard.”
[DRAM / WDC]: The memory trade is running hot, with one user turning $33k into $225k in a month by flipping WDC calls into SMR positions. A “well diversified portfolio” post showing heavy MU and DRAM positions got roasted for being as retarded as “having 50% in VOO and 50% in SPY.” Sandisk and Micron are the only two letters anyone needs to know.
[PRIVATE CREDIT]: Even more investors want out of private credit, and the sub’s reaction is basically “Private Credit is the Trust Me Bro investment valuation system.” One commenter noted the irony of private equity getting destroyed on SaaS while “regarded retail” becomes millionaires overnight from AI plays.
[QQQ]: The new WSB millionaire made his fortune “mainly trading 0 DTE on QQQ,” and the top comment was asking him to share his app settings because “my colors on this app are red.” Another poor soul posted his loss porn declaring he’s done and “DCA in QQQ is the way” — the top comment: “See you next week.”
[IRAN/US DEAL]: The US and Iran signed an initial agreement electronically, with the US reportedly paying $300 billion and lifting sanctions in what one user called “the worst deal in the history of deals, maybe ever.” The sub is already memeing about the deal lasting as long as “my bananas” and speculating that the signature might come with crossed fingers.
Six years of retarded trades erased by three months of lucky trades, one guy broke even through one of the largest bull runs in history, and another cycled £1k to £12k and back to £1k. We are not learning, we are not stopping, and the market is somehow still going up. Charlie from Dunkin’ has $9,500 and thinks he runs Wall Street. God help us all.
Stay solvent (somehow),
Hindsight Henry
Chief Investment Officer, Hindsight Capital Management