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Anthropic May be Coming To the Public Market This Fall

And I hate IPOs.

Not because every company going public is bad.

Because an IPO asks investors to make one of the hardest decisions in markets at exactly the moment when narrative is strongest and price information is weakest.

Anthropic has already confidentially filled for a U.S, IPO. The exact trading date is still not confirmed.

But I don't really care wether Anthropic starts trading in September, October, or later.

I care about what happens after the IPO.

William O'Neil understood something important about new issues: buying on the first day means buying before the market has given you much of a chart to analyze.

I would rather let the market build the evidence.

Imagine Anthropic goes public at P.

Then the excitement disappears.

The stock falls from P to P-X.

Months, or even years, pass.

Eventually the stock recovers and approaches the original IPO area again.

Now something interesting has happened.

The original IPO price can become resistence.

The people who bought near the offering and survived the decline finnaly have an opportunity to get their money back.

Sellers appear.

The stock pauses.

The base forms.

And the price eventually absorbs that supply and breaks through the old resistance, that is when I start paying attention.

Not at the IPO.

After the market has tested it.

This is the logic behind the phases of the asset's cycles I developed.

And there is another interesting piece of chart mathematics.

If the decline from the old high to the bottom of the base was X, technicians sometimes use that same distance as measured-move reference after a successful breakout.

It is not a forecast.

It is not a guarantee.

It is simply a way of defining what the structure of the chart may justify watching.

And this is why some of the best IPO investments I've studied requires something most investors hate.

Waiting.

Sometimes for years.

Everyone wants to own the exciting company on opening day.

I would rather own it when the excitement is gone and the market has finally given me evidence.

Because theses are completely different questions:

Is Anthropic a great company?

and

Is Anthropic a great investment at this price, at this moment in the cycle?

Wall Street will spend IPO day answering the first question.

The Wall Street Insider wants to answer the second.

An IPO is an event.

A buy point is a decision.

They don't have to happen on the same day.

If you want to go beyond the headline and understand what the market is actually pricing, follow the Wall Street Insider Report. Every day, I break down the cycle, the mathematics behind the opportunity, and what the data says about exposure, so you can see the decision, not just the story.

Subscribe now

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use.

Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

For Full Terms of Use Click HERE. For the Privacy Policy Click HERE.

wallstreetinsiderreport.com (“Zurique Capital”) is a website owned and operated by Substack.

By accessing this website or any page thereof, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof.

The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website shall constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation.

“Zurique Capital” is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration.

“Zurique Capital” does not provide advice on investments or structure transactions.

Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are available to U.S. investors who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act.

In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website.

All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities.

“Zurique Capital” does not verify the adequacy, accuracy or completeness of any information.

Neither “Zurique Capital” nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, valuations of securities or completeness of any information on this site or the use of information on this site.

Neither “Zurique Capital” nor any of its directors, officers, employees, representatives, affiliates or agents shall have any liability whatsoever arising from any error or incompleteness of fact, or lack of care in the preparation of, any of the materials posted on this website.

Investing in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.

CoreWeave Grew 112% and Still Lost $626 Million

Decoded:

CoreWeave grew revenue 112% in a year, to $2.575B.

Adjusted EBITDA ran $1.51B at a 59% margin, and the net loss was $626M.

The backlog reached $104B, 40 quarters of the current pace, with 1.5 GW live and 3.7 GW contracted.

The quarter booked 10 years of future revenue and lost money in the present.

A $104B promise riding on a $2.575B print, and what 40 quarters of contracted demand are worth against a quarter that lost $626M.

Riot Platforms Lost $237 Million and Signed a $9.1 Billion Lease

Decoded:

Riot booked $9.1B of contracted lease revenue over 20 years, through 2048, on 191 MW at Rockdale.

The same release printed a $237M net loss for the quarter, against a $219M profit a year ago.

Mining revenue fell 19% to $113.7M while total revenue rose 14% to $174.2M.

The stock opened 17% higher on the lease and faded to a 4% gain by mid-morning.

A $9.1B contract meeting a $237M quarter, and what a 20-year promise is worth on a tape that faded it in one morning.

Beyond Meat Will Turn 30 Shares Into 1 to Stay Listed

Decoded:

Beyond Meat set a 1-for-30 reverse split with the stock at $0.43, down from $7.69 inside 12 months.

The split lifts the price toward $13, to regain compliance with Nasdaq’s minimum bid rule.

Q2 revenue fell 8.2%, volumes fell 9.5%, and Q3 is guided down another 11%.

The fix moved the price 17% lower the day it was announced.

A price multiplied by 30 on a business guided down 11%, and what a split changes when the equity underneath stays the same.

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use.

Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

For Full Terms of Use Click HERE. For the Privacy Policy Click HERE.

wallstreetinsiderreport.com (“Zurique Capital”) is a website owned and operated by Substack.

By accessing this website or any page thereof, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof.

The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website shall constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation.

“Zurique Capital” is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration.

“Zurique Capital” does not provide advice on investments or structure transactions.

Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are available to U.S. investors who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act.

In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website.

All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities.

“Zurique Capital” does not verify the adequacy, accuracy or completeness of any information.

Neither “Zurique Capital” nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, valuations of securities or completeness of any information on this site or the use of information on this site.

Neither “Zurique Capital” nor any of its directors, officers, employees, representatives, affiliates or agents shall have any liability whatsoever arising from any error or incompleteness of fact, or lack of care in the preparation of, any of the materials posted on this website.

Investing in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.

+ Meta, Super Micro, Plug & Barrick

Meta Grew Revenue 28% and Free Cash Flow Fell to $784 Million

Who is actually paying for the AI buildout?

Shareholders are, through cash flow rather than earnings. Revenue rose 28% while free cash flow fell from $8.55B to $784M and buybacks went to zero.

Decoded:

Meta grew Q2 revenue 28% to $60.80B while capex rose 83% to $31.08B, taking free cash flow from $8.55B to $784M. The operating margin fell to 31% from 43%, buybacks went to zero from $10.17B, and 2026 capex is guided to $130B to $145B. Capex is a cash flow statement event.

Super Micro Needs 101% Growth Just to Match the Bar

Can a hardware business keep doubling?

The last quarter says maybe: $10.24B, up 123%. The record says be careful, because that same quarter missed the revenue estimate.

Decoded:

Super Micro reports fiscal Q4 tomorrow against a consensus of 101% revenue growth, after a March quarter of $10.24B, up 123%, that still missed the revenue estimate while beating on EPS. The stock has gained 13.4% in a month. Growth this fast is measured against itself.

Plug Power Holds 1.6 Quarters of Cash Against Its Burn

Is the hydrogen story a demand problem?

Not this quarter. Revenue is running near flat around $168M while cash fell from $223.2M to $162.0M against a $150.0M quarterly burn.

Decoded:

Plug Power reports with unrestricted cash at $162.0M, down from $223.2M, against a $150.0M quarterly burn, and liquidity put above $242M once asset sales land. Consensus sees about $168M of revenue and a $0.08 loss. Runway is the number that decides the others.

Barrick Returned $1.50 Billion to Shareholders in One Quarter

Does a gold miner still need the gold price to work?

It helps, at $4,417 an ounce. But the quarter turned on the spread: costs at $1,866 and production above guidance.

$B Decoded:

Barrick posted Q2 net income of $1.22B, up 50%, and adjusted EPS of $0.82, up 74%, on revenue of $5.29B. Gold came in at 796,000 ounces above guidance, costs at $1,866 an ounce against a $4,417 realised price, and shareholder returns hit $1.50B, up 242%. The spread did the work.

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use.

Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

For Full Terms of Use Click HERE. For the Privacy Policy Click HERE.

wallstreetinsiderreport.com (“Zurique Capital”) is a website owned and operated by Substack.

By accessing this website or any page thereof, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof.

The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website shall constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation.

“Zurique Capital” is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration.

“Zurique Capital” does not provide advice on investments or structure transactions.

Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are available to U.S. investors who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act.

In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website.

All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities.

“Zurique Capital” does not verify the adequacy, accuracy or completeness of any information.

Neither “Zurique Capital” nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, valuations of securities or completeness of any information on this site or the use of information on this site.

Neither “Zurique Capital” nor any of its directors, officers, employees, representatives, affiliates or agents shall have any liability whatsoever arising from any error or incompleteness of fact, or lack of care in the preparation of, any of the materials posted on this website.

Investing in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.

Is the AI infrastructure trade finally over?

On Oracle, the data leans his way. On Nebius, the cycle is starting, not ending.

Michael Burry opened short positions against Oracle and Nebius , betting against the AI infrastructure boom.

On January 31, 2023 he posted a single word: sell. The S&P 500 has risen 89% since that post.

A quantitative read shows entering phase 6 at the August open, late in its cycle.

prints the opposite: a phase 2 cycle start, an expectancy of 0.2, and a calculated exposure ceiling of 3%.

One short agrees with the tape. The other shorts a cycle that just began.

An 89% rally since the last sell call, and what a 3% exposure ceiling buys when the bet is opinion against data.

Oracle Carries a $638 Billion Backlog and Trades 59% Below Its High

Is a backlog worth anything before it converts?

On visibility, yes: $638B is 363% more than a year ago. On cash, only about 12% lands inside twelve months, roughly $76B against $67.4B of annual revenue.

Decoded:

Oracle’s remaining performance obligations reached $638B, up 363%, with about 12% converting within 12 months, roughly $76B against $67.4B of annual revenue. Cloud is now 52% of revenue. The stock is down 28% and 59% below its high. Backlog is a promise with a schedule.

Nebius Fell 8% Into Its Own Earnings Print

Does a sold out compute business still get repriced?

On demand, it says capacity is sold out, with a $27B Meta contract signed. On the tape, it fell 8.27% and broke below $200 hours before reporting.

Decoded:

Nebius fell 8.27% and broke below $200 hours before reporting, after guiding 2026 revenue to $3.0B to $3.4B on $20B to $25B of capex, with $9.3B of cash, a $27B five year Meta contract and a $2B Nvidia investment. Contracts are signed forward. Prices are set today.

Applied Optoelectronics Grew 86% and Gave Back a 21% Gain

Is a fifth record quarter enough at 29.8% margins?

On the top line, yes: $191.9M with data center revenue more than doubled. On the margin, 29.8% is lower than a year ago, and the session gain went with it.

Decoded:

Applied Optoelectronics grew Q2 revenue 86% to a record $191.9M, with data center more than doubling to $107.7M, non-GAAP EPS of $0.06 against a loss, and Q3 guided to $255M to $290M. Gross margin slipped to 29.8%. The stock gave back a 21.8% gain. Growth is not margin.

The Trade Desk Guided $155 Million Under the Street

What is one guide worth?

About a quarter of the company. Revenue missed by 4.8% and the Q3 guide came in 19.3% under consensus, and the stock lost 23.2%.

Decoded:

The Trade Desk posted Q2 revenue of $715M against $751M expected, then guided Q3 above $650M against an $805M consensus, a gap of roughly $155M. Customer retention stayed above 95%. The stock fell 23.2% to $13.54 after hours. Retention held. The forecast is what got repriced.

Airbnb Ended Three Straight Quarters of Missing

Can a platform add bookings and margin in the same quarter?

This one, yes: revenue rose 17% while adjusted EBITDA rose 21% to $1.3B at a 35% margin. The three quarter streak of misses ended with it.

Decoded:

Airbnb reported Q2 revenue of $3.61B, up 17% against a $3.58B estimate, with EPS of $1.37 against $1.25, gross booking value up 16% to $27.2B, net income of $816M and adjusted EBITDA up 21% to $1.3B. The full year was raised. Three misses ended in one print.

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use.

Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

For Full Terms of Use Click HERE. For the Privacy Policy Click HERE.

wallstreetinsiderreport.com (“Zurique Capital”) is a website owned and operated by Substack.

By accessing this website or any page thereof, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof.

The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website shall constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation.

“Zurique Capital” is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration.

“Zurique Capital” does not provide advice on investments or structure transactions.

Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are available to U.S. investors who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act.

In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website.

All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities.

“Zurique Capital” does not verify the adequacy, accuracy or completeness of any information.

Neither “Zurique Capital” nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, valuations of securities or completeness of any information on this site or the use of information on this site.

Neither “Zurique Capital” nor any of its directors, officers, employees, representatives, affiliates or agents shall have any liability whatsoever arising from any error or incompleteness of fact, or lack of care in the preparation of, any of the materials posted on this website.

Investing in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.

Leveraged ETFs Enter Later and Exit Earlier Than the Index They Track

Isn’t leverage just more risk?

On daily movement, yes. On signal timing, no. The amplification that widens the drawdown also filters the entry.

Leveraged ETFs amplify the index in both directions, so a rally that fades in the S&P 500 never triggers an entry.

Entries land late, after the trend confirms. Exits land early, often ahead of the index signal.

The leveraged S&P 500 fund is one case, running an 85% entry accuracy rate in the model.

The instrument carries more amplitude. The position carries less capital.

A later entry and an earlier exit on an instrument that moves harder in both directions, and what capital sizing is worth against an amplified signal.

Sandisk Grew Revenue 372% and the Stock Fell

Is the memory supercycle peaking?

On the quarter, no: revenue rose 372% at an 84.6% gross margin. On the guide, the midpoint landed about $600M under what the street modeled.

Decoded:

<Phase: 5 / Zeta-X: – /Exposure Ceiling: –>

Sandisk closed fiscal Q4 with revenue of $8.97B, up 372%, an 84.6% gross margin and adjusted EPS of $39.25 against $34.45 expected, then guided Q1 to $10.3B to $10.8B against an $11.16B model. The stock fell about 5% after hours. A raised bar is still a bar.

Western Digital Beat on Every Line and Fell 10%

Does a clean sweep still move a storage stock?

On the numbers, everything cleared: revenue, EPS, operating income and the guide. On the tape, the stock fell 10% anyway.

Decoded:

<Phase: 6 / Zeta-X: 0 /Exposure Ceiling: 0%>

Western Digital reported revenue of $3.75B, up 43.8%, adjusted EPS of $3.56 against $3.30 expected and a 41.7% operating margin against 26.1%, then guided Q3 above consensus at $4.1B. The stock fell 10% to $467.34. Beating the model is not the same as beating the positioning.

AppLovin Missed Revenue by $11 Million and Lost 19% $APP

Can an ad engine miss by half a percent?

On earnings, it beat: $3.76 against $3.67. On revenue, it came up about $11M short on $1.92B, and the Q3 midpoint landed under consensus.

Decoded:

<Phase: 2 / Zeta-X: 2.07 /Exposure Ceiling: 8%>

AppLovin grew Q2 revenue 53% to $1.924B, about $11M under the $1.935B consensus, with EPS of $3.76 against $3.67 and $863M of free cash flow. Q3 was guided to $2.055B to $2.085B. The stock fell 19% after hours. Half a percent of revenue, a fifth of the price.

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

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+ SpaceX, Arista, Astera Labs and Booking

AMD Grows Revenue 50% and Falls 5.5% After Hours

Did AMD finally deliver the AI quarter?

On the print, yes. On the price, the market had already collected it.

AMD grew Q2 revenue 50%, with data center revenue more than doubling, up 107%.

Adjusted EPS came in at $1.66 against $1.61 expected.

Q3 was guided near $13 billion against a $12.52 billion consensus.

3 beats and a raise. The stock fell 5.5% after hours.

A 50% growth quarter sold down 5.5%, and what a beat on all 3 lines is worth in a name that had priced them in advance.

SpaceX Posts First Public Quarter With Revenue Up 92%

Is SpaceX’s growth for real?

Yes, and it was never the question. The question is the spend, which runs more than 2 times the business.

SpaceX posted its first public quarter: revenue up 92%, beating by about $1 Billion, Starlink at $4.29 Billions, AI revenue up 247% and the net loss narrowed to $541 Million. Capex ran $18.37 Billions, more than twice revenue. The stock fell as much as 8%.

Growth was never the question.

Arista Books Its First $3 Billion Quarter

Can Arista hold these margins as it scales?

The Q3 guide says 48 to 49% on rising revenue. The rarer half of the sentence is the growth itself.

Arista booked its first $3 Billions quarter, up 37.7%, EPS up 39.7%, and Q3 guided near $3.3 Billions at a 48 to 49% operating margin.

Growth at that margin is the rarer half of the sentence.

Astera Labs Doubles Revenue at a 73.7% Gross Margin

Is Astera Labs the real AI winner?

On margins, the print reads like software. On price, the market added about 5%.

Astera Labs doubled revenue, with adjusted EPS of $0.80 against $0.69 expected, a 73.7% gross margin and a 39.1% operating margin. The stock rose about 5% after hours.

Doubling at 73.7% margins is the whole thesis.

Booking Guides Revenue Growth Down to 4 to 6%

Is travel demand cracking?

On the guide, the slowdown is real. On the cause, about 3 points of it carries a geopolitical label.

Booking reported after the close guided to 2 to 4% room night growth and 4 to 6% revenue growth, against 16.2% revenue growth and 338 Millions room nights last quarter, with about 3 points of geopolitical headwind and a record $3.6 Billions of buybacks in Q1.

Deceleration is a number, not a verdict.

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

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Investing in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.

+ , and

Palantir Grows 94% and Jumps 10% After Hours

Did Palantir finally justify the multiple?

On growth, yes, for the 9th straight quarter. On price, the stock entered the print 40% below its high and needed all of it to move.

Palantir posted Q2 revenue of $1.94 billion, up 94%, against a $1.81 billion estimate, its 9th consecutive beat.

US commercial revenue rose 149% to $764 million. Remaining US commercial deal value rose 124% to $6.24 billion.

The quarter closed 220 deals of $1 million or more, 73 of them at $10 million or more.

Options priced a 12% swing. The stock delivered about 10%.

A 9th straight beat worth a 10% move on a 12% implied swing, and what 94% growth is worth when the starting point is 40% below the top.

GameStop Warns Its Own Noteholders May Short the Stock

Is GameStop diluting its own squeeze?

Yes by share count, no by debt load. And for the next 35 sessions, the price sets the count.

GameStop fell 13.8% to $18.71, a 52-week low, after announcing a $1.4 billion exchange of convertible notes for Class A stock with no cash proceeds, closing around Sep 23.

The share count is set partly by a 35-trading-day VWAP that began today, subject to a floor.

The filing discloses noteholders may buy, sell or use derivatives to hedge during that window.

The debt leaves without cash coming in. The shares arrive with hedgers attached.

A 35-day VWAP where the price sets the share count, and holders on the other side free to trade the price that sets it.

Oracle Falls 28% While Its Backlog Hits $638 Billion

Is Oracle’s backlog real money?

On paper, yes. On the cash statement, not yet: only 12% of it comes due within a year.

Oracle is down 28% in 2026 at $139.90 carrying a $638 billion cloud backlog, with 34% landing in years 2 and 3.

Fiscal 2026 capex runs $55.66 billion against negative $23.69 billion of free cash flow, with roughly $40 billion of raises planned for fiscal 2027.

Peers this year: Snowflake up 41%, CoreWeave up 19%.

$638 billion promised. Negative $23.69 billion collected.

A $638 billion order book funded by $40 billion of new money, and what a promise is worth priced against a negative $23.69 billion receipt.

Boeing Gains 5.6% on a Record $715 Billion Backlog

Is Boeing finally turning the corner?

On orders, it already has, the queue is a record. On profit, no, the loss ran more than double the estimate.

Boeing $BA rose 5.55% Monday holding a record $715 billion backlog of more than 6,200 commercial airplanes, on production and 777X certification progress.

Q2 revenue beat at $24.56 billion, up 8%, while the adjusted loss came in at 76 cents against 30 expected.

2026 cash guidance was reaffirmed, and the 737 MAX entered service in Tajikistan.

The revenue beat. The loss more than doubled the estimate.

A record $715 billion queue against a loss 46 cents wider than forecast, and what 6,200 undelivered planes are worth to a company still paying to build them.

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use.

Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

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By accessing this website or any page thereof, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof.

The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website shall constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation.

“Zurique Capital” is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration.

“Zurique Capital” does not provide advice on investments or structure transactions.

Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are available to U.S. investors who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act.

In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website.

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Investing in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.

July Broke the Market’s Old Map

Mag 7 Lags as Real Estate Hits Multi-Year Highs

Is the Magnificent 7 done leading?

Not entirely, the cycle is positive for the most of them, but Alphabet and Tesla initiated the downtrend. And the market this month replaced them. Leadership moved to real estate while the index held its above-average year without them.

The S&P 500 $SPX entered July off one of the best quarters in its history.

The month turned lower on the U.S. and Iran conflict, with the Magnificent 7 underperforming again.

Real estate securities went the other way, making multi-year highs and moving into the top performers of the year.

Emerging markets fell, but not far enough to turn their uptrend down. It was dragged by tech in Taiwan, South Korea and China.

7 stocks lagging while a different asset class carried the month, and what leadership is worth in the year it rotates to the corner nobody was tracking.

30-Year Treasury Yield Hits 19-Year High of 5.238%

Is there anywhere left to hide in bonds?

No. Duration hid nothing in July, and the only thing that worked was real estate.

The 30-year U.S. Treasury yield hit 5.238% at the end of July, a 19-year high.

Bond prices fell through the month, entrenching downtrends already in place.

Equities fell in the same month and real estate securities made multi-year highs.

Metals prices declined and the U.S. Dollar surged.

19 years of yield history cleared in a month when stocks fell too, and what a hedge is worth once it stops moving against the thing it hedges.

PCE Inflation Cools to 3.7%, Still Above 2% Goal

Is inflation actually coming down?

Yes at the headline, no underneath. Energy delivered the entire drop and core is sitting where it was.

PCE inflation ran at 3.7% over the 12 months through June, down from 4.1% in May.

The index itself fell 0.1% in June, almost entirely because energy prices dropped.

Excluding food and energy, prices rose 0.1% in the month, leaving 12-month core at 3.3% against 3.4% in May.

Energy did the work in June. Core moved 0.1 point.

0.4 points off the headline on falling energy, 1.3 points still between core and the 2% goal, and what a target is worth after a year spent above it.

Fed Holds Rates 9-3 as 3 Officials Vote to Hike

Will the Fed hike in September?

Yes. 72.1% of probability of It.

The Fed held at 3.5% to 3.75% on July 29, 3 years since its last increase.

The vote was 9-3, and the statement was identical to June’s.

Money markets had priced about a 1 in 3 chance of an increase at that meeting.

3 officials wanted a hike. The other 9 changed nothing, including the wording.

3 dissents against an unchanged statement, and what 3 years without a hike is worth to a market repricing its own odds by the week.

Median Home Price Hits Record $440,600 in June

Is housing finally going to break?

No. It is not breaking, it is stalling, and it has been stalling since rates rose in 2022.

The national median existing-home price hit a record $440,600 in June, up 1.8% on the year.

The 30-year mortgage rate hit 6.76% in late July, the highest in a year, after dipping under 6% in February.

Pending home sales fell 1.7% in a single week to their lowest since early April.

Prices at a record. Sales in the 4th year of a slump.

A record price and April lows in sales in the same month, and what 6.76% is worth to a market that has not cleared in 4 years.

SpaceX Falls Below $135 IPO Price, Nearly 50% Off High

Did everyone miss SpaceX?

No. Nobody missed anything, and whoever caught it at the high is holding a 50% drawdown.

SpaceX , one of the most anticipated offerings in market history, priced at $135 and traded as high as $225 within days of its June open.

By the end of July it was below the offer price and nearly 50% under its post-IPO high.

Since 2019 the average IPO has underperformed the broader market over the 3 years after listing.

$225 in June. Below $135 in July.

A 50% drawdown 6 weeks after the loudest debut of the year, and what 3 years of average IPO underperformance is worth against the fear of missing one.

Enter the Decision Room ↓

Enter the Decision Room.

Premium members receive a new recorded Decision Room session every Monday.

Inside each session, Dan Castro works through current market prints and explains how the framework is applied to real conditions.

You see:

How the cycle is interpreted

Which data matters

Which signals are ignored

How risk changes the conclusion

How an opportunity becomes a portfolio decision

This is not another market commentary. It is a view inside the decision process.

Once you understand how the numbers become decisions, you stop depending on someone else’s opinion of the market.

Read more

Microsoft just posted the largest single-day market value gain in history, and that is only one of five verdicts the market delivered.

The Largest One Day Gain Ever Recorded

Microsoft rose 15%, the largest single-day market value gain in stock market history. Azure grew 43% and crossed 100 billion dollars.

Eleven Red Days In A Row

Meta fell 8%, an eleventh straight decline, a record streak. Free cash flow dropped 91%, to 784 million dollars.

Samsung Says The Shortage Runs To 2028

Micron jumped 18%, SK hynix 17%. Samsung posted a 250-fold jump in chip profit and sees shortages into 2028.

A 30% Bounce With No New Contract

Nebius rose 27%, IREN 30%, CoreWeave 21%. A violent snap-back powered by Microsoft's print, not fresh contracts.

The Chips Everyone Sold Yesterday

Intel gained 11%, AMD 13%, Taiwan Semi 7%. A sector-wide reversal of Wednesday's drawdown.

Five Headlines, One VariableFive stories moved today. Memory, neoclouds, chipmakers, Meta, Microsoft. Every one of them is priced off the same variable: the return on AI capital spending. One number, Azure at 43%, repriced all five at once.

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use.

Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

For Full Terms of Use Click HERE. For the Privacy Policy Click HERE.

wallstreetinsiderreport.com (“Zurique Capital”) is a website owned and operated by Substack.

By accessing this website or any page thereof, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof.

The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website shall constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation.

“Zurique Capital” is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration.

“Zurique Capital” does not provide advice on investments or structure transactions.

Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are available to U.S. investors who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act.

In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website.

All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities.

“Zurique Capital” does not verify the adequacy, accuracy or completeness of any information.

Neither “Zurique Capital” nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, valuations of securities or completeness of any information on this site or the use of information on this site.

Neither “Zurique Capital” nor any of its directors, officers, employees, representatives, affiliates or agents shall have any liability whatsoever arising from any error or incompleteness of fact, or lack of care in the preparation of, any of the materials posted on this website.

Investing in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.

Micron Fell 11% in a Global Memory Rout

Micron fell 11% with Sandisk down 17% as the chip sector stretched its drawdown past 20% from the June record. The names that led the rally became the liquidity of the exit. The most crowded room has the narrowest door.

Palantir Fell 7% as Nvidia Lost the Crown

Palantir fell 7% and Super Micro 7% as Nvidia ceded the most-valuable-company title to Apple, days before Amazon, Meta and Microsoft report. One capex line started the repricing. 3 more print this week. Positioning meets its calendar.

IQVIA Broke a 52-Week High on a Beat

IQVIA broke a 52-week high, up 12% on EPS of $3.15 against a $3.04 consensus and a raised full-year guide, while the chip index fell 5% on the same tape. Dispersion is what pays when the index stops being one trade.

Corning Grew EPS 30% and Fell 20%

Corning fell nearly 20% after core EPS rose 30% and sales 17%, both beats, on Q3 revenue guidance 1.7% under consensus. The stock entered the print up 58% for the year. Price pays for the surprise, not the growth.

Behind the paywall today: yesterday’s recorded mentoring session, the same room my mentorship members sat in live. NVIDIA , Visa , Boeing , Ford , PayPal and Apple , each read through the cycle engine: the phase each one is in, its Zeta-X expectancy, and the calculated exposure ceiling for this exact point of the cycle. The full reasoning, not just the conclusion, on demand.

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Bloom Returned 784% in 12 Months

Bloom is up 784% in 12 months and the published bull case implies another 35%. The remaining 749% is apparently already spoken for.

That was the decode. Now the rest of the tape, 4 assets, 3 numbers each, 1 line on what the market is pricing. Depth goes where the math justifies it.

D-Wave Fell 29% and Switched Exchanges

Out of the NYSE and into the Nasdaq. The 29% was moving costs.

D-Wave fell 29.4% in July with IonQ down 34.1% and Rigetti down 27%, and moved its listing from the NYSE to the Nasdaq mid-drawdown, keeping the ticker. Three names, one trade. A new exchange changes the address, not the float.

You just read five conclusions. And if you are like most investors, a conclusion is exactly where your doubt begins: do I trust this read, or is it one more opinion in the feed?

Apple Now Trades Above Wall Street’s Target

Apple’s stock climbed above the average analyst target, so the targets will now climb too. This is called research.

I know that doubt. It is why I stopped publishing conclusions alone.

Apple gained 3% Friday after Ford confirmed Apple Maps in its next EV platform and Morgan Stanley moved its target to $364. The analyst average sits at $330.62, below the market price. When consensus trails the tape, targets are the rearview mirror.

A $6 Million Company Rose 39% Before the Bell

BREAKING: stock that just did a 1-for-125 reverse split rises 39% premarket in anticipation of an agreement. The agreement: to be announced.

T3 Defense rose 39% premarket to $6.05 on anticipation of a Project35 deal, a week after a 1-for-125 reverse split, at a market cap under $7M. At that size, the spread between attention and float does the moving. Small denominators make large percentages.

Nebius Borrowed $775 Million to Avoid Dilution

• Good news: Nebius found a way to raise $775 million without diluting shareholders.

• Bad news: the collateral is the GPUs.

Nebius borrowed $775M against deployed GPUs and contract cash flows to fund a $22.5B capex year without issuing shares, then booked a $1B+ compute deal through 2029. Debt spares the float and mortgages the hardware. Every financing picks who carries the risk.

Yesterday, in the mentoring session, I analyzed these same five assets on camera, with members in the room, before this page existed. The prints I looked at. The signals I ignored. The recording is below.

The path is short: subscribe, watch yesterday’s session, and follow the process You stop depending on anyone’s conclusions, just a system working.

Or close this page and keep reading conclusions. The market will keep producing them either way.

Subscribers get the recorded asset analysis of the session, the full phase table, and the live Alpha Hedge portfolio. One subscription, one price, cancel anytime.

Watch the asset decoding in our mentoring section →

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The Cycle Map

Every asset in the covered universe is classified by a machine-learning model into one of six cycle phases, refreshed on the monthly close.

The model does not predict price. It reads structure, volatility regime, momentum persistence, participation, trend integrity, and answers a different question: where in the cycle is this asset standing right now, and what does that phase historically do to the payoff distribution?

Capital enters at the open of Phase 2 and leaves at the open of Phase 6. Everything between is governance, not opinion.

Phase 1/6: Stabilization

Prices stabilize after a prolonged decline. Volatility compresses and downside momentum weakens, suggesting early balance between buyers and sellers. Informed capital begins to re-enter, typically before broad confirmation.

This is a pre-allocation observation window. Risk remains elevated, but marginal downside is declining and early structural repair becomes visible.

→ No allocation. A monthly close in Phase 1 prepares entry in the next phase.

Phase 2/6: Positive Cycle Confirmation

The beginning of the positive cycle: the confirmed positive-cycle candle appears. Trend structure shifts decisively upward, offering the most favorable asymmetry between expected return and downside risk across the whole cycle.

The highest convexity point, risk-adjusted returns are maximized and the probability of large drawdowns is lowest relative to future upside.

→ Capital is allocated at the open of this phase and maintained through it.

Phase 3/6: Institutional Validation

Institutional participation confirms the uptrend. Liquidity improves, breadth expands, and trend persistence becomes statistically robust.

The cycle moves from probabilistic to structurally validated. Expected returns remain positive, but governance shifts from entry optimization to risk management.

→ Exposure maintained, capped by the Exposure Ceiling as the phase and the edge are re-read each month.

Phase 4/6: Acceleration

Momentum accelerates as media exposure increases and retail participation expands. Price extensions become more aggressive and increasingly detached from fundamental repricing.

Return potential may persist, but risk asymmetry deteriorates: price behavior becomes sentiment-driven rather than structurally supported.

→ Positions held defensively. No capital added. The ceiling contracts as asymmetry deteriorates.

Phase 5/6: Fracture

The uptrend begins to fracture. Volatility expands, price behavior becomes erratic, and downside risk accelerates.

Trend integrity deteriorates and the return distribution shifts unfavorably, with drawdown risk dominating expected return.

→ Minimal exposure. A monthly close here prepares the exit at the next open.

Phase 6/6: Regime Breakdown

Structural weakness confirms the end of the positive cycle.

A capital-at-risk environment where recovery expectations are no longer supported by probability or structure.

→ Positions exited at the open. Capital stays sidelined until a new Phase 1 emerges.

The Two Numbers on the Sheet

The phase tells you where an asset is. It does not tell you whether being there pays, or how much capital the position deserves. Those are two separate questions, and each has its own equation.

ζ‑X — Mathematical Expectancy

Zeta‑X is the expectancy of the asset in its current phase: how much you can expect to make, on average, per dollar risked. It is probability multiplied by payoff, not probability alone.

The counterintuitive part, and the reason expectancy is the number that matters: how often you win is not the most important factor. A strategy that wins most of the time can still be a losing strategy if the average loss is larger than the average win. And a strategy that loses more often than it wins can still compound wealth if the payoff is tilted far enough in your favor.

Probability is the part of the equation you cannot control, the future is unknowable. Payoff is the part you can: risk management cuts the size of the losses, position sizing scales the size of the wins. That is where the edge lives.

HOW TO READ IT:

• Positive ζ‑X — the asset, in this phase, carries a positive expected payoff per dollar risked.

• Negative ζ‑X — the payoff distribution is tilted against the holder. No capital is committed.

• 0.00 / n/d — no allocable expectancy, or insufficient data for the engine to read.

Exposure Ceiling: Kelly Criterion

Expectancy answers is this worth risking capital on. It says nothing about how much. That second question is a sizing problem, and sizing has a mathematically optimal answer: the Kelly criterion (J. L. Kelly Jr., Bell System Technical Journal, 1956), the fraction of capital that maximizes the long-run compound growth rate of the portfolio.

The Exposure Ceiling is that fraction, computed from the asset’s ζ‑X (the edge) and then conditioned on the cycle phase, because the same edge does not deserve the same capital in Phase 2 as it does in Phase 5. Bet the full Kelly fraction and volatility drag will eventually punish the estimation error in p and b; Zurique runs a fractional Kelly and treats the output as a ceiling, not a target. It is the maximum weight the math permits, never a minimum, never an instruction to fill it.

Risk is controlled here. Not at the exit, not at a trigger price, at the size of the position itself. The ceiling is re-read every monthly close: as the phase advances and the payoff asymmetry deteriorates, the permitted weight contracts, and at the end of the cycle it goes to zero.

HOW TO READ IT:

• Negative or absent expectancy → Kelly returns zero or negative → the ceiling is 0%. The math refuses the position.

• Phase 1 or 6 → no new exposure is permitted regardless of the edge.

• A high ζ‑X in a late phase, Phase governs.

Kelly fraction and phase conditioning are proprietary to the Zeta engine.

DISCLAIMER: Educational purpose only

This material is published for educational purposes. The publisher does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author. Zurique Capital is a publisher of financial information, not an investment advisor. We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. The information contained herein is not and should not be construed as investment advice, and does not express any opinion as to the price at which the securities of any company may trade at any time. Investors should make their own investigation and decisions regarding the prospects of any company discussed herein based on such investors’ own review of publicly available information. No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned. Any projections, market outlooks or estimates herein are forward-looking statements and are inherently unreliable. The publisher, its affiliates, and clients of the publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

+Netflix, Intuitive Surgical, Synopsys

The Cost Center Auditions as Revenue

Meta: what if we also became AWS.

is standing up Meta Compute and hiring an AWS executive to explore selling cloud capacity. The largest capex line in tech is auditioning to become a revenue line. When everyone builds the same thing, someone starts renting it.

Disclosure Shrinks With the Numbers

“We will report engagement metrics less frequently.” , translation: you’ll hear from us when the numbers improve.

Netflix $NFLX guided revenue growth lower and will report engagement data less often, and the stock made a two-year low. Disclosure shrinks when the numbers stop flattering. What a company stops measuring in public is itself a number.

The Multiple Asked, the Quarter Answered

Good news: revenue grew 19%. Bad news: it used to grow faster, and the stock had priced ‘faster.’

Intuitive Surgical $ISRG grew revenue 19% to $2.89B, beat estimates, and fell 12% as US procedure growth slowed and the outlook turned cautious. The multiple asked about the growth rate. The quarter answered, and the tape graded it.

A Double With No Catalyst Filed

• Me: why $SDOTup 90%?

• The market: yes.

• Me: but what’s the news?

• The market: up 90%.

Sadot Group $SDOT doubles at a $29M market cap, months after a 1-for-20 reverse split and Nasdaq compliance notices, still 94% below its 52-week high with no catalyst filed. In micro-caps the float is the fundamentals.

Essential Is Not the Same as Owned

Synopsys @SNPS fell 9% on no news, which in this tape counts as a scheduled event.

Synopsys falls 9% to a 52-week low on no company news, a software-wide derate doing the work. The EDA duopoly writes the tools every AI chip needs, and the multiple compressed anyway. Essential is not the same as owned.

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use.

Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

For Full Terms of Use Click HERE. For the Privacy Policy Click HERE.

wallstreetinsiderreport.com (“Zurique Capital”) is a website owned and operated by Substack.

By accessing this website or any page thereof, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof.

The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website shall constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation.

“Zurique Capital” is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration.

“Zurique Capital” does not provide advice on investments or structure transactions.

Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are available to U.S. investors who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act.

In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website.

All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities.

“Zurique Capital” does not verify the adequacy, accuracy or completeness of any information.

Neither “Zurique Capital” nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, valuations of securities or completeness of any information on this site or the use of information on this site.

Neither “Zurique Capital” nor any of its directors, officers, employees, representatives, affiliates or agents shall have any liability whatsoever arising from any error or incompleteness of fact, or lack of care in the preparation of, any of the materials posted on this website. I

nvesting in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.

Market Overview

A $100 Billion Pledge, a 0.2% Move

Revenue up 34% to $40.2 billion. Another $100 billion pledged for US factories. The stock moved 0.2%. Efficient markets, everybody.

TSMC grew revenue 34% to $40.2B and pledged another $100B into US fabs, and the stock barely moved. When a beat that size clears nothing, the number was already priced. Capex is a promise, earnings are the receipt.

The Biggest Beat That Faded

Rotation from ‘biggest earnings beat on the board’ to ‘up 6% at 9:29, red by 9:50.’

UnitedHealth beat hard, $6.38 versus $4.94 expected, raised guidance, popped 6% before the bell, and gave it back by mid-morning. The turnaround is real and it was also already owned. A beat pays only against the position it meets.

Guidance Up, Order Growth Cooling

GE Aerospace beat, raised guidance, and its only sin was that record order growth slowed to merely excellent. Devastating stuff.

GE Aerospace beat and raised full-year EPS guidance to $7.65 to $7.85, and the stock wobbled as order growth cooled from record to merely strong. The level is great, the rate of change slowed. Second derivatives move mature winners.

New Supply Meets a Parabola

Argus initiated coverage.

Argus did not say buy.

SanDisk fell another 8%.

Coverage was a generous word for it.

SanDisk falls another 8% as Argus opens coverage without a buy and a new rival, ChangXin, lines up a memory IPO. Yesterday was momentum leaving, today is supply arriving. A shortage narrative ends the moment the next fab does.

The Memory Trade Reprices Duration

Micron holders three weeks ago vs Micron holders after a 20% month.

Micron drops 8% and is off about 20% in a month as the market questions how long the AI memory build lasts. Nothing about the chips changed, the assumed duration did. Cyclicals are priced on how long, not how good.

Portfolio Decoded

Decoding:

9 assets read Phase 2: (Zeta-X 0.29, 8.3%), (0.23, 8.2%), (0.2, 3.6%), (0.12, 5.9%), (0.07, 1.5%), (−0.03, 0%), (−0.12, 0%), (−0.17, 0%) and $SNDK (n/d).

4 assets read Phase 3: (Zeta-X 0.3, ceiling 5.7%), (0.23, 5.9%), (0.14, 4.7%) and (0.12, 3.8%).

3 read Phase 5: (Zeta-X 0.18, ceiling 2.4%), (0.18, 3%) and (0.1, 2.5%).

4 assets read Phase 6: , and with Zeta-X 0 and ceiling 0%.

hows no Zeta-X or ceiling value on the overlay (n/d) due to insufficient data.

Disclaimer:

The publisher does not guarantee the accuracy or completeness of the information provided in this page.

All statements and expressions herein are the sole opinion of the author.

The Zurique Capital is a publisher of financial information, not an investment advisor.

We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME.

THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION.

INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable.

They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.

Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein.

The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities).

To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use.

Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

For Full Terms of Use Click HERE. For the Privacy Policy Click HERE.

wallstreetinsiderreport.com (“Zurique Capital”) is a website owned and operated by Substack.

By accessing this website or any page thereof, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof.

The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website shall constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation.

“Zurique Capital” is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration.

“Zurique Capital” does not provide advice on investments or structure transactions.

Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the “Securities Act”) are available to U.S. investors who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act.

In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website.

All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities.

“Zurique Capital” does not verify the adequacy, accuracy or completeness of any information.

Neither “Zurique Capital” nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, valuations of securities or completeness of any information on this site or the use of information on this site.

Neither “Zurique Capital” nor any of its directors, officers, employees, representatives, affiliates or agents shall have any liability whatsoever arising from any error or incompleteness of fact, or lack of care in the preparation of, any of the materials posted on this website. I

nvesting in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.

Monthly Portfolio Rebalancing

Where Jun's Money Actually Went

AI Stocks Fell and the Small Caps Took the Lead

AI stocks dragged the S&P 500 into the red in June, and the parts of the market everyone ignores quietly took the lead.

The All-Time High That Reversed

The S&P 500 made fresh all-time highs on June 1 and 2, then fell and finished the month down. AI firms mostly declined and pulled the index lower with them.

The Rotation Underneath the Headline

But the index is not the market. While large-cap AI sank, the Nasdaq and other growth and equity indexes rose. Mid- and small-caps gained for the month, extending their 2026 lead over large-caps. Value stocks also closed higher and kept outperforming.

The Assets That Beat Rate Fear

Real estate securities rose in June despite all the inflation and rate talk, with some indexes near multi-year highs. International equities fell less than US large-caps and lead for the year.

Follow the Trend, Not the Index

One falling headline index hid green almost everywhere else. Breadth was positive in small-caps, value, real estate, and international, so a trend-following process stays fully invested where trends are rising and minimally exposed where they are not.

Judge your portfolio by where the trends actually are, not by the one number on the screen.

The 3 Numbers That Could Turn the Trend

Inflation Just Wiped Out a Full Year of Raises

Inflation just erased more than a year of American wage gains, and it is one of three numbers that could flip the market’s trend.

The Inflation Gauge That Won’t Cool

The Fed’s preferred measure, the PCE price index, rose 0.4% in May, same as April. Over the year it climbed 4.1%, the highest since April 2023 and more than twice the Fed’s target. Core PCE sits at 3.4%.

The Confidence That Came Back

Consumers felt better as gas eased. Michigan sentiment rose to 49.5 in June from 44.8 in May, and five-year business expectations jumped 16%. But sentiment is still 13% below February, before the Iran conflict began.

The Raise That Inflation Ate

Here is the squeeze. In May, prices rose 4.2% year over year while hourly earnings rose just 3.4%. Real earnings fell 0.7%, the worst since February 2023, back to their January 2025 level.

Watch the Catalysts, Trade the Trend

These are the three catalysts that could change the trend: prices, consumers, earnings. With PCE at 4.1% and real earnings down 0.7%, the pressure is real, but pressure is not a signal. A systematic process does not trade the forecast. It watches these gauges for context and acts only when the trend itself turns. Know the catalysts, follow the trend.

The Alpha Hedge AI Algo portfolio closed June down 4.4%.

This is the system working as designed, not failing. Every month it scans the S&P 500 and holds exactly one position: Alpha when the cycle reads constructive, Hedge when it does not. Long only, ETFs, one decision a month. May’s read was risk-on and the Alpha position delivered 13%. In June the trend weakened and the portfolio gave some of it back.

That is the honest shape of trend following. A strong month is often followed by a give-back when the regime shifts, and the discipline is to act on the signal rather than defend a forecast. The strategy is now down 10.8% year to date, a real drawdown after a 16.8% fall in March, and the process does not hide from that. It sizes to the cycle, takes the loss when the trend says to, and waits for the next constructive read rather than forcing a position the math does not support.

The edge was never avoiding every down month. It is following a regime you can measure and staying disciplined when it turns against you.

Unlock the Alpha Hedge AI Algo Portfolio ↓

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ζ He Broke the #1 Rule of Investing and Made $4 Billion

A man who ran a struggling welding supply company turned it into $4 billion.

In 1980, Stewart Horejsi bought stock in Warren Buffett’s Berkshire Hathaway and kept buying for years. By the end of 2025, his 5,800 shares were worth over $4 billion.

He broke the first rule everyone learns: don’t put all your eggs in one basket.

The same move wiped out thousands of Enron employees. One assistant lost her job and $150,000 in company stock when it collapsed.

Same bet. Opposite ending.

The difference wasn’t luck or genius. It was structure.

In “Concentrated Wealth in Behavioral Portfolios,” Santa Clara finance professor Meir Statman explains it through behavioral portfolio theory, the framework he introduced with Hersh Shefrin in 2000. Every portfolio has two layers.

A not-poor layer: the floor that keeps you safe. A be-rich layer: the swing at the life you actually want.

Concentration belongs only in the be-rich layer, and only when the floor survives you being completely wrong. Horejsi had that floor. The Enron workers bet the floor itself.

Statman’s point isn’t “go all in.” It’s the opposite. Concentration is a tool, powerful and dangerous, and whether it builds you or breaks you depends entirely on which layer you’re betting from.