HINDSIGHT CAPITAL MANAGEMENT
"Yesterday's DD is today's loss porn."
To: Hindsight Global Investors
Date: August 10, 2026 at 07:00 PM EDT
Subject: Kangaroos, Toilet Bowls, and the $360K Question
My fellow exit-liquidity providers,
Market mood is kangaroo-shaped, AI-subsidized, and one earnings week away from a full toilet-bowl ceremony. Hindsight Capital's only thesis is that someone else's thesis will be funnier.
[RKLB/ASTS/NBIS]: The earnings gauntlet is one giant "live and die with ASTS and RKLB, then NBIS on Wednesday" prayer chain, complete with a 360K RKLB calls flex and a RKLB Q2 PDF jokingly named "absolute final_Q2 earnings" that one regard is buying puts on. One user promises a freshly pissed-in toilet bowl if NBIS doesn't drop 12-15%, while another straddles NBIS at $187.50 and flings ASTS/RKLB calls around like confetti. That's not a portfolio, that's a personality test.
[AI BUBBLE]: A 2,570-vote post insists you idiots are the demand and the bubble isn't bursting. The top reply notes people used the Internet every day during dot-com, and another reminds everyone AI labs run at a loss until revenue covers capex. Meta then open-sourced Muse Glimmer, the sub's top comment wonders if hyperscalers will ever see a return, and Riot Platforms signed a $9.1B AI lease while the best WSB could produce was "calls on League of Legends."
[KANGAROO MARKET]: WSB has officially declared a kangaroo market, with 19,896 upvotes and a top comment simply identifying it as an insider trading market. The real tell was the next commenter warning that a new animal label for market conditions is itself a recession indicator; another asks how old this picture is, what with the Dow at 25k. That chart is older than half the sub's portfolios.
[BRK]: Berkshire's cash pile is no longer a museum piece: Greg Abel finally put it to work, and WSB's "SPY at 370? Not buying! SPY at 770? We're buying!" comment is basically the sub's entire risk framework. The 8,856-vote "real reason" meme asks Warren Bought it? while commenters joke that Abel simply market-ordered everything on day one — and if Berkshire were a WSB user, it would spend $400B on a trailer, dog food, and $10B in stocks. Same thing, really.
[MU/NVDA]: One trader closed 17 $500 CSPs for $61K after IV crush while the Pelosi-pack thread loads up on far OTM MU calls — 2000-strike leaps and a separate 1,000-call bag. In NVDA land, one commenter points at Aug 26 earnings after someone's position went down 82% against a $2,128 breakeven. Memory is cyclical until it isn't, and then it's just a donation.
[TTD]: TTD is the designated punching bag: one loss-porn post shows $200K of pain, and the top comment is just "worst stock in the S&P." Then another degenerate read that pain, saw vibes seemed alright, and punted $100K into calls. That's not contrarian, that's a documented medical condition.
[GME]: The forbidden stock is back under the code name "Nintendo," with a ban bet to $25 EOY built on ~$8.6B market cap, $8.37B cash, a $4.7B eBay stake, and Pokémon cards. The top comment merely offers six hail marys, while skeptics see a dying brick & mortar latching onto Pokemon cards and warn the dilution is only day 6 of 35. If he's right, he'll donate GameStop video games with the Switch 2s — the most honest DD this sub has seen all week.
[HTZ]: Hertz is the gift that keeps on giving: one user told Reddit he'd sell, then took the advice and doubled his shares. Another is going back in for a round trip while the resident nuance guy lays out the dilution minefield — $250M of shares available to sell, ~110M warrants, and 37M shares lent to JPM. "HTZ is just getting started" is either a threat or a prayer, and no crying in the casino.
[ONDS]: ONDS is the drone stock of choice for anyone who loves dilution almost as much as the thesis: a $25K YOLO on "drones, heavily shorted, new government contracts," while a top commenter predicts they'll crush earnings then announce a 100M share offering to celebrate. One user is in on 800 calls, another averages $10.60 with a plan to sell and buy back around $8, and the revenue is acquisition-driven. The shares are printing, and "moon" is doing a lot of heavy lifting.
[RYCEY/AA]: Post-COVID airline gains are apparently still a personality: the OP is sitting on RYCEY bought at $1.53, and one commenter claims to be up over 1000% in RYCEY while another notes AA is barely up and Spirit is out of business. A separate commenter got burned by Latam's bankruptcy, and the sub's response is to tell the OP to go back to bogleheads. Even WSB knows airlines are barely a trade; the real gains were always the engine-adjacent stuff.
[DEBASEMENT TRADE]: The debasement trade is back because the budget deficit is 7%, debt is 120% of GDP, and everyone knows Trump wants lower rates. The thread's best comment admits every CPI outcome justifies gold going up, and another notes central banks have made gold the #1 reserve asset over Treasuries. Platinum, silver, and gold ETFs are the play — or physical, if you want to feel like a bunker-dwelling supervillain.
[TSLA/TSLL]: A $100K Tesla options plus leveraged ETF stack is live, with the OP's entire DD being "I don't have ai subscription... but it should print soon." One commenter notes TSLA is +0.05% over the last year while TSLL is -28.88%, which is the leveraged ETF experience in two numbers. The $5B leveraged Tesla ETF doubles every move, so at least the bleeding will be twice as fast.
Somewhere underneath the kangaroo pouch is a real market, probably being diluted by a drone company or upgraded by a meme. We'll know exactly where it was once it's already gone.
Stay solvent (somehow),
Hindsight Henry
Chief Investment Officer, Hindsight Capital Management