An over-analysed and widely followed large-cap like $TTD can be down -39% on one single quarterly report yet many still claim that stock markets are efficient.

The jury verdict seems to be that GPT-5 is a minor incremental update. No breakthroughs whatsoever. This is both good and bad. It’s good for semiconductors, as the model wars continue. But even more confusing for users & builders about what to choose for their use cases.

Sweetgreen $SG now down -79% from $45 late-November after reporting insanely bad -8% same store sales for Q2 and bad guide. Guh! One of the fastest collapses I’ve ever seen for a story stock (with the market at ATH!) Slop bowl investors absolutely rekt.

$FIG Figma now down -45% from its $143 high. $35bn gone. Incredible rug pull. IPOs “leaving too much money on the table”, huh? Show me the table on the chart.

The “Bond King” warned us in April this market would happen. “Caution and conservative attitudes” for “long to come”. 😉

$LYFT Q2 Rev +11% 20.5% LTM EV FCF yield (inc SBC), 8.1x ‘25E EV/EBITDA $DASH Q2 Rev +25%, 1.7% LTM EV FCF Yield (inc SBC), 36.9x ‘25E EV/EBITDA So, 20.5% vs 1.7% FCF yield…? 🤔 Thank you for your attention to this matter.

$AMD It comes down to this: Data Centre revenue being down -12% on last quarter (down second Q in a row), and only up +14% y/y is just brutally bad. We’re literally in the strongest data centre demand cycle in human history… and people don’t want what these guys are selling.

$UNH at +0.42% doing the literal meme today.

There are so many “compounder” stocks that many people considered having huge moats just a few years ago, and which turned out to be completely moat-less. $UNH $NVO $LULU $NKE $EL $CHTR $SBUX $INTC to name but a few. Stop seeing moats where there are none. See reality.

The complete flip in perspectives on the US economy & interest rates as a result of the jobs revisions is comical. BLS over-reported +109,000 hires at US Public Schools (!?!), and suddenly all the people who were good with no rate cuts a week ago, are now screaming for cuts.