HINDSIGHT CAPITAL MANAGEMENT
"In hindsight, we should have sold the morning after."
To: Hindsight Global Investors
Date: September 07, 2026 at 07:01 PM EDT
Subject: AGI Is Here, Nike Is Somewhere Else, and $35K of SPX Calls Are Still Holding
My fellow exit-liquidity providers,
The long weekend gave everyone time to decide that AGI has arrived, Nike has been told to just do it elsewhere, and real life has officially outjerked Wall Street. With a four-day trading week ahead, the panic will have to be compressed.
[NVDA / AGI]: Jensen Huang says “AGI has arrived”, and Reddit’s first instinct is the top joke: the guy selling shovels says gold has been found. Others smell an IPO under all the charity, and the coverage noting GPT-6 Astra is powered by 100,000+ Nvidia Grace Blackwell GPUs only makes the shovel joke land harder.
[OUTJERKED AGAIN. IT'S REAL]: The post dominating the batch is so absurd that the top comment thought it was a WSB shitpost until realizing it is real. When the screen says “NOW $95,” the response is puts on $NOW, while others ask if he’s going to donate it all and whether he just admitted to profiting from the office. The rest of us are extras in a sequel WSB didn’t write.
[NKE]: Reddit’s designated eulogy is titled “S&P 100 Said ‘Just Do It’ … Somewhere Else”, and the top prescription is to rebrand to N-AI-ke. Product complaints range from shoes that have become hot garbage to a brand that has completely lost its way, and one commenter is checking on the guy who went all in and promised Nike would close above $40. Another notes the irony of an athletic-wear company that ran ads depicting wearers as obese now tumbling.
[BE / SNDK]: The index-inclusion thread cheers both names, though one commenter argues SNDK’s S&P 100 add doesn’t matter while BE’s S&P 500 slot unlocks fresh P&D à la MRVL and RDDT. Another user wants to know if SNDK at all-time highs is still a strong buy, and a Bloom YOLO thread is warning that Oracle earnings on 9/10 could move the stock.
[AAPL]: The sub is pre-gaming Apple’s Wednesday event with a user-made “leaked screenshot” that already drew a “second Dynamic Island” joke and one buyer’s promise to build a Star Trek LCARS interface on the next overpriced phone. Event previews expect iPhone Ultra and iPhone 18 Pro, which means the official pipeline is locked in: buy the rumor, sell the leaked screenshot, and lose money on the news.
[SPX / 0DTE]: Sentiment ranges from “freak the fuck out and panic sell” to 19.4x P/E responses of “So calls.” In between sits the regard who left $35,000 of 1DTE SPX calls stranded over the holiday because the overnight session closed at 11:30 a.m. ET, and one reply is already a simple “You’re fucked.” The sobering counterpoint — “forward earnings look cheap until the forward is no longer true” — should be the sub’s motto.
[MSTR / BTC]: After Friday’s jobs report was so good it was bad and Bitcoin took a tumble, one OP claims MSTR didn’t dip, mNAV expanded, and he bought calls. Skeptics note the stock was already up 50% in one month, and the best summary is that these calls are “so deep in the red they’re basically Bitcoin miners now.” Headlines add that Saylor just ended his 10-week BTC buying pause, because God forbid we go a full month without leverage.
[SMCI]: One full-port OP, in since the mid-$20s in July, is refusing to sell until at least 1/1/27. The replies balance a warning that a bad dog not biting you doesn’t make it a good dog with envy that this regard had $400k to gamble. Headlines say SMCI rebounded after its worst drop in three months, so the bad dog is now chewing on someone else’s leg.
[ZM / ANTHROPIC]: The OP’s high-hopium theory calls Zoom a $45B+ acquisition target thanks to $7B-$8B cash and an Anthropic stake, with one reply framing it as a retail-friendly Anthropic proxy. Reality checks put Anthropic at roughly 10% of ZM’s market cap, and the buyer search stalls: Amazon is too cheap, Google has Meet, Microsoft has Teams, and Berkshire doesn’t buy tech — so who would even buy it? The thread’s closest bull case remains “I own a small position.”
[OURA IPO / HOOD]: The IPO thread mostly yawns, with one reply admitting a wearable ring has nothing to do with AI or sex robots and another warning Apple can wipe them out in a second. The OP’s filing notes — slim margins and heavy hardware costs — get backup from a commenter who thinks the IPO price is already the best-case day. Outside the sub, WSJ says Robinhood is underwriting, which is Hindsight’s cue to assume any allocation is exit liquidity.
[SUPER EL NIÑO]: The weather-trade thread is Reddit Mad Libs: Meta because everyone hides in the Metaverse, Crocs because rainy sandals, and NVDA/MU/NBIS because destroyed data centers get rebuilt forever. One reply has an actual supply-side thesis: El Niño hits Peru’s fisheries — source of half the world’s ground fishmeal — so South Africa’s Oceana Group benefits from higher prices. There is also the eternal reality check: “Super El Niño was priced in before you were born,” which should age about as well as every weather trade before it.
If you sold too early and feel bad about it, congratulations — you don’t go broke taking profit, and that is the closest thing to alpha this firm has produced.
Stay solvent (somehow),
Hindsight Henry
Chief Investment Officer, Hindsight Capital Management