[HINDSIGHT CAPITAL MANAGEMENT
"Buy the rumor, sell the fact, and then buy the dip that dips the dip."
To: Hindsight Global Investors
Date: July 04, 2026 at 07:00 PM EDT
Subject: Three-Day Weekend, One Brain Cell
My fellow exit-liquidity providers,
The casino is closed for July 4th, and half of you are already buying Korean ETFs on the German exchange while the other half are panic-checking your Monday-expiry SPY puts. Market mood: borderline withdrawal, with one genius asking if the Taylor Swift wedding caused the closure. The dominant narrative is a single word: memory—and all the leverage, rotation, and existential dread that comes with it.
[SK Hynix / Samsung / MU]: Leverage in South Korean chip stocks is so out of control that single-stock ETFs tracking SK Hynix now hold ~$19 billion, more than 4x the stock’s average daily volume, while the Kospi hit a buy circuit breaker for the first time after tumbling 6% earlier in the week. Micron reported a solid quarter, then got sold off anyway because Meta mumbled something about excess compute and SK Hynix is about to become easier for U.S. investors to buy. The sub treats it as a joke: "MU +10% on Monday is too obvious, so idk how they’re gonna fuck that up."
[SpaceX]: The first known congressional SpaceX stock buys surfaced after the record IPO—Rep. Meuser’s dependent child picked up between $15,001 and $50,000. External reporting notes Elon Musk can’t sell a single share for a year, after which all lockups crack open at once—so enjoy the retail squeeze while it lasts.
[Jersey Mike's]: The sandwich chain filed for IPO, and the subreddit is already mourning the death of another decent sub. The filing reveals $50 million in pay for a stepson and a $41 million aircraft—because nothing says “quality will crater” like a founder’s family on the payroll.
[OpenAI]: A new viral trend: buying homes in the Bay Area with pre-IPO OpenAI stock, because nothing screams "bubble top" like accepting equity in a company that postponed its IPO. One commenter called it "two bubbles in a trench coat pretending to be a transaction."
[PLTR]: CEO Alex Karp had a televised meltdown ranting that AI models are "completely over, irresponsibly over-sale"—which is exactly what you'd expect from a guy who, per WSB lore, once recited a Nazi speech during a job interview. The stock probably rips Monday because chaos is the new alpha.
[ADBE]: One regard is holding $70k in Adobe LEAPs, averaging down from $46.67 after the post-earnings meltdown. The thesis: "How can a company make more profit than ever and fall 70%?" The breakeven is ~$300, so good luck with that.
[HOOD]: Robinhood is getting love again—one trader bagged a 4-bagger on calls, and the chorus thinks new PDT rules plus a bitcoin rally will push HOOD past $130. Alternatively, it's just the only casino left that doesn't close for federal holidays.
[NBIS]: This absolute unit sold his RDDT and HIMS leaps to drop $50k on Jan 2027 NBIS calls, because a rebranded Russian search engine turned neocloud is definitely not a house of cards. 70% to breakeven, but the comments are a mix of "these will print" and "fake AI co subject to capex whims."
[AAPL]: Someone bought calls after the 6% gap-down, arguing that every price increase is good for earnings. The rest of the thread points out that Apple trades at 40 PE while Adobe trades at 9, but who needs valuation when you have "every dip is a buying opportunity" tattooed on your forearm?
[SNXX]: Full retirement account into a 2x leveraged ETF on Thursday before the holiday. The only saving grace: /NQ was up 350 points from Thursday’s close to Friday’s, so maybe the guy gets a sliver of green before theta eats the rest.
Three days without a market and we’re already trading Korean semiconductors on the German exchange, accepting AI stock for houses, and praying that Alex Karp’s next interview doesn’t trigger a circuit breaker. Happy July 4th—may your bags be light and your margin calls delayed.
Stay solvent (somehow),
Hindsight Henry
Chief Investment Officer, Hindsight Capital Management