HINDSIGHT CAPITAL MANAGEMENT
"Hindsight is 20/20; our P&L is 0/0."

To: Hindsight Global Investors
Date: August 09, 2026 at 07:01 PM EDT
Subject: Kangaroos, College Funds, and a Cash Pile That Finally Left the Nightstand

My fellow exit-liquidity providers,

Friday's payroll number was "unexpectedly" negative, the pundits are arguing about kangaroos, and Berkshire's cash pile is reportedly deploying itself. If this is the top, at least we'll have excellent memes.

[KANGAROO MARKET]: The 16k-vote post declares the tape a kangaroo market, and the highest-rated explanation is that it's an insider trading market. One commenter notes a new marketing term is a recession indicator, with Emu territory and a Vegemite market supposedly next — and thanks for the circle, bro, we needed help finding the kangaroo.

[BRK/BRKB]: Greg Abel finally put Buffett's cash pile to work, cutting the record cash pile from $397.4B to $365.5B while becoming a net buyer of equities — and the sub's response is that it will also deploy its $3,097 cash pile. One degenerate YOLO'd into shares ahead of Saturday's beat, armed with Buffett's line about a church with a casino attached, and the payoff so far is about +0.05% after earnings. The deeper conspiracy theory is that Greg Abel is going to buy $100B in BTC and ETH the day after Buffett passes, which is the only succession plan that makes sense.

[US PAYROLLS]: The July jobs report unexpectedly lost 23,000 jobs, unless you remember the World Cup temp jobs. The thread's diagnosis is stagflation with a side of job recession, markets shot up 1%, and no jobs means the only way to make money is stonks. Elon apparently said money won't matter soon, so we're just early.

[MU/DRAM]: One parent is spending his son's college fund on MU, because the kid is retarded anyway — which is both terrible parenting and honest portfolio construction. Another is up $56K on 17 MU $500 CSPs and admits IV crush did more work than the stock ripping to $1,255 ATH. Somewhere in between, someone held both calls and puts on DRAM and somehow got red on both, which requires a special kind of balance.

[PANW]: The sub cannot explain 299x earnings or 30x annual revenue, but the top answer is the only answer: because you didn't buy it. Valuation tells you what's expensive, not when it comes back to earth, and "we said AI on the call" remains a legally sufficient bull case. A Seeking Alpha headline called the valuation "absurd", so the puts are obviously going to print any day now.

[PLTR/ZETA/NBIS]: The month's crown jewel is a $1,510,891 AMA, up 8,376%, with all positions already sold and the next play listed as NBIS earnings on 8/12. The thread's best diagnosis is that a large account plus conviction equals variance, not edge — exactly what we'll tell our investors while the fees tick in. Ninety percent cash, ten percent options, one hundred percent aura.

[RKLB/ONDS/CRWV]: The earnings-lottery thread for Aug 10-15 has calls on ONDS and shoutouts for ASTS, RKLB, SMCI, CRWV, and NBIS. One commenter sees RKLB breaking the sound barrier if Neutron stays on track, and an ONDS scalper promises a possible pop to $11.50 before it slips back — trust me bro, I've been scalping it for months. Someone else is planning to inverse the entire thread and buy puts on all of them, which is the closest thing to hedging this sub has ever produced.

[HTZ/SPCX]: The "Who's next?" thread has a clear consensus: SPCX bagholders, while Hertz has become a generational inheritance joke — "Grandpa, why is my inheritance Hertz bags?". Shorts reportedly rode SPCX from $200 to $105 and covered at $130, and leveraged SPCX buyers are just the next pack of insiders' exit liquidity.

[RYCEY]: One holder has been in so long he doesn't know where the sell button is, and a top commenter's biggest regret is selling 5,000 shares around $2. The sub genuinely cannot figure out how anyone found Rolls-Royce — answer: they bought it, forgot about it, and accidentally outperformed every 0DTE they've ever touched. A $2B buyback rumor is apparently swirling, so the sell button remains imaginary.

[CRITICAL MINERAL GANG]: The White House is hosting mining CEOs and the children yearn for the mines — or at least for MP and ALOY calls after someone heard a certain video say "buy magnets". Gold miners surged more than 20% in a breakout week, and the USAR, MP, and UUUU gangs are reporting for duty. It's almost like a government minerals policy is just insider trading with better branding.

[0DTE]: One regard turned +$30k into -$20k after losing signal on a way-home trade, and the thread's advice was stop-losses, no 2:25pm lotto, and never trade 0DTE on a phone. Another declared he's done with 0DTEs and weeklies only now, to which the only possible response is see you Monday.

[WALL STREET SUICIDES]: The most sober thread on the board is a veteran's reminder that crashes end badly for real people, and the top comment says the worst-off weren't traders but 64-year-olds watching their 401k cut in half. The author feels the next big market top is upon us, then admits he's still holding a $4,000,000 triple-leveraged SPX position. That's the whole sub in one paragraph: a warning, a joke, and a margin call waiting to happen.

So to recap: the market is a kangaroo, the economy is somehow both shedding jobs and making the market rally, and the greatest wealth transfers on record are being funded by college funds and Hertz inheritances. Our edge is that we've already priced in your losses. See you Monday, slightly poorer and infinitely more entertained.

Stay solvent (somehow),

Hindsight Henry
Chief Investment Officer, Hindsight Capital Management