Stock returns since IPO
Source: Stocks World
No, AI isn't taking young people's jobs.
Age 20-24 unemployment rate dropped again last month. Now to 7.2% from 9.2% last September. Source: Ryan Detrick, CMT
Highest Paid Fund Managers 2025
Source: SensaMarket
Asset class total returns since 2011
Winners: Commodities +30.7%; Convertibles +18.7%; Nasdaq 100 +14.9%; US Small Caps +12.8% Losers: IG bonds 0%; Gold 0%; US Total bonds markets 0%; Long duration Treasuries -0.6%; Bitcoin -30.3% Source: Charlie Bilello
SpaceX’s IPO pitch might be the boldest AI bet Wall Street has ever seen.
Goldman Sachs is reportedly projecting: • SpaceX valuation target: $1.78 TRILLION • AI revenue growth: from $3.2B → $322B by 2030 • Total company revenue: from $18.7B → $474B • EBITDA: from $6.6B → $352B Let that sink in. The most shocking part? By 2030, Goldman expects SpaceX’s AI business to generate MORE than: Starlink Rockets Space operations combined Translation: SpaceX is no longer being pitched as a space company. It’s being pitched as an AI company with rockets attached. But here’s the catch: For these projections to work, Grok would need to outperform OpenAI, Google, and Anthropic in: • Coding • AI agents • Cybersecurity • Enterprise AI • Consumer chatbots That’s an enormous leap — especially for a business currently losing billions and struggling for adoption. Still, this tells us something important: Wall Street is no longer valuing companies based on what they are today. It’s valuing who could dominate AI tomorrow. The AI race is officially rewriting how trillion-dollar companies are built. And investors are willing to price in the future before it exist
Just for reference the market cap of the entire stock markets
• UK: ~$3.94 trillion • France: ~$3.45 trillion • Germany: ~$3.04 trillion Europe is becoming really poor. Source: Michel A.Arouet
Trafigura just made $4.1 billion in 6 months.
That's more than its entire 2025 full year. October-December 2025 was the 2nd-best quarter in company history and the war hadn't even fully started yet. For context: → Trafigura full-year 2025 profit: $2.7 billion → Trafigura H1 2026 profit: $4.1 billion → Time elapsed: 6 months Source: Jack Prandelli on X
The S&P 500 just said today that it will NOT be changing its inclusion rules to let SpaceX and other mega cap companies enter the index earlier
SpaceX will have to wait at least 1 year to get added to the S&P 500. Indeed, the S&P just announced they will NOT change eligibility requirements to 'fast track' index inclusion for megacap stocks such as the upcoming SpaceX or Anthropic IPOs. Looks like $SPCX will just have to settle for joining the Nasdaq 100 $QQQ Source: Evan, LuxAlgo
