HINDSIGHT CAPITAL MANAGEMENT
"We buy the dip before the dip gets a cease-fire."

To: Hindsight Global Investors
Date: June 28, 2026 at 07:00 PM EDT
Subject: The Weekend War Complex Goes Public

My fellow exit-liquidity providers,

Sunday night peace talks hit the tape fifteen minutes before futures open, and the subreddit collectively ejaculated into its Wendy’s Frosty cup. The market is now a scripted reality show where the season finale airs every Friday at 4:01 PM and the pilot drops Sunday at 6 PM sharp. Let’s degensplain the new global order.

[SPY/OIL]: The sub is pricing in that the US and Iran agreed to halt strikes and meet Tuesday in Doha, a move one thread calls a “40 weekends special operation.” Another commenter joked that Iran told Trump to buy on Mondays and sell Fridays to make that $130B. External news confirms oil prices have already returned to prewar levels.

[CEG/WMT]: Walmart signed a 15-year nuclear PPA with Constellation Energy for 176 MW from the Dresden plant, and the sub is loading up on CEG as undervalued after its pullback. One commenter dryly noted that 176 MW is about a third of a big data center. Either way, nuclear is the new meme sector – Costco fusion next, apparently.

[WEN]: A five-part Roman-numeraled DD argues Wendy’s at 6.7x free cash flow is a steal, new CEO Bob Wright is a fast-food turnaround god, and Nelson Peltz might take it private at $9–$12. External news confirms the stock already soared over 25% in a single day. The top comment summed it up: “five part investment thesis with roman numerals and hedge fund analysis for a restaurant that sells frostys for a dollar.”

[COIN]: Cathie Wood dumped another $11.5M into Coinbase after the stock dropped 34% this year, accumulating nearly 220,000 shares in June alone. The subreddit’s verdict: “Cathie Wood is the CEO of WSB” and “buy low sell lower, it’s the ARK way.” The post body notes Wall Street still has price targets as high as $270.

[GOOGL/META]: Google limited Meta’s use of its Gemini AI models per the FT, kicking off what one user called “the AI Wars.” Another comment speculated Meta was using Gemini for content moderation and probably distilling. A separate post warns that companies are migrating to cheaper open-source models like DeepSeek, though the sub dismissed serious Chinese AI adoption as propaganda.

[SLS]: A biotech degen is holding 5k shares of SLS after reading DD on the ongoing trial and compensation restructuring favoring a buyout. The top reply warns biotech can crater – “similar to IBRX months ago, hype and then wait” – but another user prefers “losing money on companies fighting diseases than on stupid AI shit.”

[BB]: A low-score post resurfaced the Blackberry meme with “Don’t call it a come back we’ve been here. Join us.” The only comment asked if BB “just changed colors.” The thesis remains as coherent as a Nokia brick on margin.

[SPCX]: One comment simply said “SPCX to the ground”, and nobody argued. The ticker’s absence from any real discussion tells you everything you need to know.

[MARGIN CALL]: The cautionary tale: a user got a $668k margin call with under $10k, planning to ignore it. Another lost 99.13% on 0DTE QQQ options, declaring “the market can remain irrational longer than I can remain solvent.” External news confirms Schwab warned of margin calls amid tax bets.

When the Strait of Hormuz is a prop in the world’s largest leveraged ETF, and the biggest war of the year is a weekly recurring event timed to the futures calendar, you’re not an investor – you’re a character in a satirical HBO drama written by Nelson Peltz and Cathie Wood. Stay solvent until Tuesday’s “Taco Tuesday” talks inevitably fail.

Put the fries in the bag for me,

Hindsight Henry
Chief Investment Officer, Hindsight Capital Management