You’ve seen this movie before – the “Mag Seven” rides again.

Wellness Check for the Smartest Dudes in the Room

A large portion of last week’s artificial intelligence (AI) wellness came from the early filing from famed investor Michael Burry, who made a billion-dollar short bet on Palantir Technologies (PLTR) and Nvidia (NVDA). Before the open yesterday, he laid it on thick, essentially accusing all the hyperscalers of fraud.

Burry had company, as hedge funds loaded up their short position against Technology (XLK) and Communication Services (XLC) in the first week of November.

Palantir (PLTR) was the number one percentage gainer in the market, and Nvidia (NVDA) added more than $200.0 billion in market capitalization.

Moby Dick

I do not understand the obsession with hating on the “Mag Seven” and AI story. Even if these stocks occasionally get ahead of themselves, the value proposition remains clear. These Master of the Universe types, and those who regurgitate their talking points, are living in the past, stuck in 1999.

As you might imagine, yesterday’s growth and momentum had a monster session – a whale of a day.

Shutting Down the Insanity

It turns out that the deal ending the shutdown is the same offer presented by Senator John Thune on October 16^th – the same agreement.

In an interview about changing his vote to reopen the government, Senator Dick Durbin said:

“I cannot accept a strategy that wages political battle at the expense of my neighbor's paycheck or the food for his children.”

Oh, Snap!

The SNAP program should be reformed to guard against abuse. It's grown like wildfire over the past five years, and it backfires for too many who should be looking to join the ladder of success, even if it's at the lowest rung.

Goodbye, OG

Warren Buffett is riding off into the sunset, but still dropping pearls of wisdom.

Today’s Session

It is slow going this morning; the biggest story is that Softbank sold its NVDA stake for $5.6 billion. Also a top executive at Meta Platforms (META) walked away to start his own thing.

 

With the government on the cusp of reopening, a cascade of scheduled, and unscheduled, data releases is expected.

Thank you for your service

Comments

Thank you for your service. Double meaning intended. Cj Corso on 11/11/2025 10:09:09 AM

Thank you for your service Mr Payne! Duncan on 11/11/2025 11:28:05 AM

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