HINDSIGHT CAPITAL MANAGEMENT
"Where hindsight is always 20/20 and foresight is a paid subscription."
To: Hindsight Global Investors
Date: August 26, 2026 at 07:01 PM EDT
Subject: NVDA Beat, NVDA Fell, NVDA Rose, Nobody Learned Anything
My fellow exit-liquidity providers,
The casino reopened, NVDA printed, and for a few beautiful hours everyone on this sub was a genius. Then the after-hours tape remembered that nothing is ever allowed to be simple.
[NVDA]: All week the sub treated NVDA like Jensen was personally going to open up the strait himself, and the earnings copypasta delivered $96.2B revenue and a $108B guide while the tape flip-flopped between stock falls and futures rise. One commenter had already nailed the ritual: they beat earnings every time and every time tanked the market. Then AWS said it wants 2 million more GPUs, and the puts that bought the pre-earnings dip got what they deserved.
[AI BUBBLE CROWD]: The "AI bubble crowd lose again" post got 906 upvotes because Jensen apparently said fuck your puts, though one skeptic pointed out that AI stocks were up 0.7% and that’s not exactly a victory lap. The circular-financing joke is already in the thread: this will work forever and nothing bad will ever happen, which is exactly what every bubble ever has said.
[ANTHROPIC]: Anthropic reportedly wants to tell investors it sees over $30 trillion in potential revenue, or roughly the entire GDP of the United States generated by ~2,500 employees — and one user reminded everyone that's a quarter of world GDP. Even the bubble is bubbling crowd sounds polite compared to what the comment section is actually doing to this math.
[OPENAI]: OpenAI's head of data centers left, and the sub's scoreboard now says 14 top executives have exited in 2026 alone. One user has already marked debt default at 100% probability, while another says something stinks — which is rich coming from a place that smells like burnt options.
[CRM/CRWD/OKTA]: Salesforce jumped 14% after raising annual revenue forecasts and expanding its Anthropic partnership, but the sub's favorite catch is that a $2.6B unrealized Anthropic gain more than doubled quarterly income. CRWD and OKTA also had the earnings thread's 8.82% and 12.91% implied moves to live up to, and the after-hours tape says they did. Somewhere, the guy who sold CRM at a 50% loss is still waiting for $1,000.
[META]: Meta agreed to pay $18 billion to make the social media addiction trial go away, and the sub's reaction is the usual mix of slap on the wrist and easy dip buy. One user pointed out the original case carried $1.4T in maximum damages, so this is less a punishment and more a rounding error.
[TTWO]: Take-Two is sitting around $232.93, down about 12% from its July peak, with GTA VI allegedly coming in November, and the top of the thread is basically one giant echo chamber saying priced in. That's the signal for the contrarians to call it a buy, because if this sub collectively believes anything, the opposite is probably free money.
[ASTS]: ASTS bagholders are asking whether it moons back to $100 by year-end, and the closest thing to a thesis is space sector getting beat up plus one guy down $600K peak to trough saying "yes, guaranteed." Another bagholder admits it moons every time I don't own it, which is the most honest thing posted all day.
[CORE PCE / RATES]: Core PCE came in at 3.3% annually, the daily data dump showed GDP at 1.5%, and one user declared stagflation is the new norm. That won't stop the rates essayists from predicting the Fed will cut anyway, because cutting is easier than fixing who owns the assets.
[MICHAEL SAYLOR]: Michael Saylor is getting too comfortable on Twitter, and the sub is torn between wishing he was the loop daddy and treating his posts as a sell signal. One user noted 5% up is very different for you and him, which is the correct energy for a guy who makes AI memes of himself while the rest of us pray for one green day.
[MICHAEL BURRY]: The sub is asking how long before Michael Burry cries uncle, and one commenter's diagnosis is that he's a one-hit-wonder from 20 years ago who has been wrong on every call since. Another user reminds everyone he bought NVDA calls as a hedge, so even the crash-porn king is long Papa Jensen.
[AVGO/MRVL/MU/SanDisk]: With NVDA's dust settling, the degens are already parroting Buy AVGO: NVDA beats, AVGO up — apparently it's 60 points down from $420 — and MRVL is right there on the same week's 11.29% implied move board. Micron & SanDisk gang is already uniting in the comments, because if Jensen is selling GPUs, somebody has to sell the memory.
Net takeaway: Jensen is the market, Anthropic is the valuation, and the rest of us are just paying for both. If you held through the NVDA earnings dip and the futures moon-shot, congratulations — you have officially learned nothing and are ready for next week.
Stay solvent (somehow),
Hindsight Henry
Chief Investment Officer, Hindsight Capital Management