2025 Performance Recap 📊 666.62% time-weighted return $267K → $1.42M $795,000 withdrawn (taxes, debts, life) No inflows. Only outflows. $626K entering 2026 🧵👇

Top losers of this war: 1. Taking the top spot, the Iranian people. This all started with the popular uprising in Iran. Trump said he had their back. As a result of his words and his actions, tens of thousands died and now the repressive regime is stronger than ever. 2. Coming in second place, President Trump and USA. This was not peace through strength. It’s a complete capitulation and humiliation. The world now knows when America says “we have your back”, it only lasts as long as financial markets allow it. 3. Israel is a huge loser here but they come in third because they can take care of themselves for the most part given their military technology. A lot of this was about deterrence and retribution stemming from the Oct 7th attack which Iran was ultimately behind. 4. Iran and the IRGC come in last because the were not losers at all. This was a huge victory for Iran in all respects. What doesn’t kill you makes you stronger. I feel bad for the freedom-loving people of Iran. Seems their fate is sealed.

How embarrassing. This effectively means USA completely lost, withdrew in humiliation, and gave Iran a much better deal than Obama ever gave Iran.

If Trump was not committed to finishing the job (regime change), he should have never started in the first place. Wars are not won or fought on pre-determined timelines like midterms. Obviously Trump, emboldened by his quick victory in Venezuela, thought he could achieve the same in Iran. The resulting groveling for a deal with Iran now looks so pathetic, weak, and embarrassing. For now midterms take precedent for Trump but it’s impossible to know how this turns out long-term. United States, and for that matter, Israel, should not have gone in if they didn’t have a clear path to regime change. It wasn’t always said by both sides, but it was obviously the initial goal of both countries. But this was a compete intelligence and strategic failure by both CIA and Mossad. You don’t go in unless you have insiders on your side ready to conduct a coup. For now we just watch in horror as Trump tries to pump the market for midterms.

🎯 The below is absolutely correct. While it’s popular to blame Israel for wanting to keep the fighting going, people forget the IRGC is ideologically sworn to the destruction of the State of Israel, oh and by the way to the United States and all Western infidels as well. They always have been and they always will be.

As of the close on 2026/06/12, the share prices were as follows: $SPCX = $160 $SATS = $114 Based on this setup, let’s think about the NAV arbitrage in $SATS. SATS is expected to receive 261.8M shares of SPCX. Meanwhile, SATS’ fully diluted share count is 348M. 261.8M ÷ 348M = 0.752 In other words, each SATS share represents approximately 0.75 shares of SPCX exposure. Therefore, the theoretical pair trade ratio is: Long: 1 share of SATS Short: 0.75 shares of SPCX At an SPCX share price of $160: 0.75 × $160 = $120 This means that each SATS share contains approximately $120 of embedded SPCX equity value. However, SATS is actually trading at $114. In other words, even just the value of the SPCX shares that SATS is expected to receive is higher than SATS’ current share price. On top of that, SATS also has the following non-SPCX NAV: ・Net cash after debt repayment and haircut: approximately $8.5B ・Remaining operating business value: approximately $10.0B ・Remaining spectrum value: approximately $10.0B Total: approximately $28.5B Dividing this by the fully diluted share count of 348M: $28.5B ÷ 348M = approximately $82/share Therefore, SATS’ theoretical NAV is: SPCX exposure: approximately $120 Non-SPCX NAV: approximately $82 Total: approximately $202 Meanwhile, SATS’ current share price is $114. So the setup is: SATS theoretical NAV: $202 SATS actual share price: $114 NAV gap: approximately $88/share From a pair trade perspective: Long: 1 share of SATS Short: 0.75 shares of SPCX This position largely offsets the direct exposure to SPCX’s share price, while isolating the NAV discount in SATS. This is the core of the $SATS / $SPCX arbitrage I am looking at. Of course, this is not risk-free. ・Borrowing cost for shorting SPCX ・Closing risk on the SATS side ・Timing risk around when the discount closes That said, the transactions with $T and SPCX have already been approved by the FCC, and in my view, the 30-day reconsideration period has passed without issue. Still, if the market values SPCX at approximately $2.1T, leaving SATS at $114 looks extremely inefficient to me. Not financial advice. My personal analysis.

Most people see a house. @GalianoTiramani sees a manufacturing problem. We sat down with the @BOXABL Founder to discuss affordable housing, scaling production, the $FGMC merger, and the vision behind $BXBL. The full interview is now live on YouTube. youtube.com/watch?v=LHG1hdTT…

This is the math $SATS $SPCX

Why I went all in $SATS Here’s the maths: SpaceX IPO at $135 SpaceX S1 disclosed Echostar owns 261.8 million shares 🔸$135 X 261.8 million shares = $35 Billion While echostar was worth less than $35 Billion yesterday Question: Do you really think that you can put a $135 limit order on ipo day to get the shares? NO!! Hyperliquid premarket AT $180 already 😂 Your best chance is do a market order buy on $sats before spacex ipo if you are bullish on spaceX Here is where it gets crazier: FCC APPROVED deal $22.65 Billion Cash for selling low to mid-band spectrum to AT&T 🔸So that’s worth ZERO? or NOBODY FKING CARED LMAO My valuation ex- spaceX: Net cash after debt paydown $8.5 billion Remaining unsold spectrum $10 billion Core operating business $10 billion Total Ex-SpaceX $28.5 billion 🔸Value per share EX- SpaceX ~ $86 ( Conservative ) Now let’s go from crazier to NUTS: Short interest is 31% !!!! WTF LMAO But the issue is founder owns 50.5% stake and 86.8% voting rights. So the short interest on the remaining whatever available float? What’s that? 60 %??? Seldom market hands you free money. When it does, go all in. ____ P.S. I seldom write long thesis anymore. Why? The hardworking ones will be rewarded with their own DD. You make your own conviction rather than relying on me for customer support. And what do you want more when I put my own $$ on the line? Who does this transparently? Action speak more than words. Once in a while, I'll write. But don't count on me mansplaining often. It's better for you to build your own conviction.

EchoStar $SATS owns 261.8 million shares of SpaceX $SPCX Those shares at $165/shr are worth $43.2 billion. Yet the market value of EchoStar is just $33 billion - a $10 billion discount. Makes sense.

If you want to be a long term investor of SPCX, buy $SATS. Its market cap is 32B, but its SPCX holding worth 43B, and they have other business worth about 30B, with ~15B debt. The discount in $SATS now is caused by those who cannot sell SPCX (PE/VC/Employee/IPO). So they short $SATS to hedge. The discount window will close when they are allowed to sell. The first batch will be unlocked when SPCX's price is above 30% of its IPO price ($135), aka $173.5, for 5 days. $SPCX is now $175.5. So the probability that this discount disappear in next week is greater than 30%. So buy $SATS, if you believe in Elon and in $SPCX.

The NAV of $SATS is $180 as of now. It is traded at $108. Someone do the math. Even considered discount this is still insane.

$SPCX is already the 7th most valuable public company on Earth. Do you think it can break into the Top 5 today?

🚨 The $HOOD app is currently down! Users are reporting issues accessing the platform just as $SPCX begins trading on the public markets. 👀

Congrats on trillionaire status, @elonmusk!

$SPCX is officially public. The stock opened at a staggering $1.96 trillion valuation in its Nasdaq debut and is already trading 12% above its $135 IPO price.

One of today's Top Trade Ideas in the Morning Note was long $QQQ and $IWM. We gave members a $721–$725 target range and outlined the possibility of a move to $731 on a swing basis. Meanwhile, $IWM went on to print fresh all-time highs. When the signal flipped back to green, we told members to carpe diem. The market listened.

Tune in to today's live stream as we break down our game plan for the day, trade the $SPCX IPO live, and navigate one of the biggest market catalysts of the year in real time. $SATS $ASTS $RKLB $RDW $NBIS $SPY $QQQ $IWM $BTC $BULL $SOFI $FUBO $UMAC $VSAT $UUUU $SIVE $CRWV $TER $ALAB Plus, we'll be joined by Boxabl Founder Galiano Tiramani for a special interview. This is one stream you won't want to miss. 👀👇

LIVE at 11 AM EST! 🚨 Join us for an exclusive interview with Boxabl Founder, Galiano Tiramani, as we discuss the future of affordable housing, the company's vision, growth plans, and what's next for @BOXABL. Don't miss it! 👀👇

Live Trading $SPCX IPO $SATS $RKLB $ASTS $LUNR $RDW $NBIS $QQQ $IWM $BTC Boxabl Founder Joins Us for the Fun! x.com/i/broadcasts/1YxNrrEoV…

The year is 2028. Trump just announced that the deal with Iran is about to be signed this weekend. Iran says it is reviewing the final text. The U.S. says discussions are constructive. Pakistan says a breakthrough is imminent. Qatar says it is honored to have played a constructive role in facilitating the talks. Qatar did not facilitate the talks. Israel says it learned about the deal from Truth Social. Hezbollah in southern Lebanon is still getting bombed daily. Axios reports a rift between Netanyahu and Trump. The White House denies it. Trump then posts a photo of himself and Netanyahu. Netanyahu is not in the photo. Oil jumps 3%. Then falls 4%. Trump says the deal is being signed at the request of Pakistan and Field Marshal Syed Asim Munir, who Trump describes as “one of the great generals, maybe the greatest, people are saying.” A senior official says we’re “closer than ever.” A different senior official says “significant gaps remain.” They work in the same office. The next round of talks is scheduled for next weekend. It will also be described as a breakthrough. Qatar thanks Pakistan for its important role and takes credit for the progress.