HINDSIGHT CAPITAL MANAGEMENT
"Your stop-loss is my entry."

To: Hindsight Global Investors
Date: July 16, 2026 at 07:00 PM EDT
Subject: The Gaping Hole Where Your Netflix Calls Used to Be

My fellow exit-liquidity providers,

The subreddit is a smoking crater this evening. Earnings week delivered exactly one thing: confirmation that the market doesn't give a single fuck about your thesis. The mood is best summed up by a user who lost 42.8% in a single day and another who is apparently moving into his car. Let's dig into the wreckage.

[NFLX]: Netflix beat on earnings per share but missed on revenue, and the subreddit is treating it like a personal betrayal after the $300k LSD-fueled YOLO evaporated in after-hours — one user crystallized the vibe with "Good news or company makes money = stock down." The stock is down ~8% and hit a 52-week low, with the crowd pointing to soft Q3 guidance and the fact that hosting your own Plex server is apparently a smarter trade than buying calls.

[TSMC/ASML]: Taiwan Semi pledged another $100 billion for U.S. fab expansion and reported blowout monthly revenue, which of course means the stock promptly got dumped — one user asked if they could "cure cancer and it'll be another -10% day." ASML earnings are on deck with an implied move of 8.5%, and the sub's only hope is that ASML will somehow "save the Semis."

[MU]: Micron calls are the new loss porn darling, with one regard sharing a Fidelity welfare letter after losing $73k on them and another asking whether to hold September calls that are already bleeding. Meanwhile, the USITC opened a probe into Samsung, Nvidia, and Google over Netlist's memory-chip patents — further evidence that the entire memory trade is a hostage situation.

[TRUTH API]: Trump Media unveiled a paid data feed giving banks "the fastest" access to Truth Social posts, and the sub unanimously called it "Insider Trading as a Service" — the top commenter summed it up as "this seems like it would be illegal, but you know, just another day in this banana republic."

[YUM]: The FDA is about to warn consumers about Taco Bell lettuce in five states over a cyclospora parasite outbreak that's sickened thousands, and the sub's only concern is how to distinguish it from normal Taco Bell diarrhea. One user who ate the lettuce this week is simply saying goodbye.

[IBM]: While everyone else was donating to the NFLX incinerator, one degenerate made $158k on IBM calls after the stock's historic 25% crash earlier this week — apparently the "3-day rule" is now a certified strategy, even though Jim Cramer is telling retail to stay far away.

[125K TO 1K]: The top post of the sub today is a guy who turned $125k into $1k since the pandemic using options, and the community is honoring him with the classic "you still got 0.79% left, big dawg." Another user switched to 0DTE to make back his losses and is now down 76% overall — the casino giveth, but mostly it just taketh.

[MOMENTUM STOCKS SEASONALITY]: A chart shows that momentum stocks are currently experiencing a 27.5% drawdown, worse than the 2021 Fed taper tantrum, though one optimist notes that TSM and ASML "just had stellar quarters" and concludes "calls. Onward!" The sub is split between buying the dip and accepting that the rotation out of semis is into god knows what.

Warren Buffett said it's "tough to find values when everybody is preferring gambling," and the sub responded by posting a gif of him as a pirate — somehow that's the most coherent thesis we've seen all day. Stay solvent (somehow),

Hindsight Henry
Chief Investment Officer, Hindsight Capital Management