Zipf's Law, a natural law that applies to distributions everywhere, shows Bitcoin underpriced by 38% and gold overpriced by 16%
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Absolutely incredible:
The S&P 500 is now officially UP on the year and just ~1% away from hitting a new record high.
Since March 30th, the S&P 500 has now added +$5.5 TRILLION in market cap.
That's +$550 billion per trading day for 10-straight trading days.
The reality is that inflation is rising toward 4%, the AI Revolution is only accelerating, and trillions of Dollars of sidelined capital are eager to enter the market.
This truly is one of the most resilient markets in history.
Own assets or be left behind.
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The S&P 500 is now officially UP on the year and just ~1% away from hitting a new record high.
Since March 30th, the S&P 500 has now added +$5.5 TRILLION in market cap.
That's +$550 billion per trading day for 10-straight trading days.
The reality is that inflation is rising toward 4%, the AI Revolution is only accelerating, and trillions of Dollars of sidelined capital are eager to enter the market.
This truly is one of the most resilient markets in history.
Own assets or be left behind.
🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶
Hedge funds continue to aggressively cover their short positions:
Hedge fund short exposure in US-listed ETFs fell -11.5% last week, the largest weekly short covering over the last decade.
At the same time, purchases of macro products, including index futures and ETFs, were the largest since May 2025.
As a result, hedge fund exposure to global equity macro products has only been higher in 3% of cases over the last 5 years.
The magnitude of the unwind suggests hedge funds were caught offside by the ceasefire rally and were forced to cover.
Hedge funds are rushing back into equities.
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Hedge fund short exposure in US-listed ETFs fell -11.5% last week, the largest weekly short covering over the last decade.
At the same time, purchases of macro products, including index futures and ETFs, were the largest since May 2025.
As a result, hedge fund exposure to global equity macro products has only been higher in 3% of cases over the last 5 years.
The magnitude of the unwind suggests hedge funds were caught offside by the ceasefire rally and were forced to cover.
Hedge funds are rushing back into equities.
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Another body found on Everest.
Frozen in time — a climber lost decades ago has resurfaced from beneath the unforgiving ice. There are an estimated 200+ bodies of deceased climbers still on Mount Everest.
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Frozen in time — a climber lost decades ago has resurfaced from beneath the unforgiving ice. There are an estimated 200+ bodies of deceased climbers still on Mount Everest.
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DUMP:
Bitcoin just dumped $1,300 in the last 45 minutes, wiping out $30,000,000,000 from its market cap.
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Bitcoin just dumped $1,300 in the last 45 minutes, wiping out $30,000,000,000 from its market cap.
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Q: "If you have to choose between not eating or being exploited for 18 hours, you'd probably choose to be exploited rather than starve to death"
Argentina's Mile: "You can also choose to DIE"
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Argentina's Mile: "You can also choose to DIE"
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