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We’re back.
I hope you all had a great weekend.
After a few weeks off, the Sunday flagship newsletter is officially back.
For those that missed it, I recently shared a report with Carbon Capital subscribers covering 10 investment ideas on my radar, covering a mix of spinoffs, activist situations, contrarian bets, and more.
Several of those names had major updates this week, from earnings reports to new developments, making it a great time to revisit the list.
Key Data Bites Over The Last Week:
Bloomberg published where to invest $10,000 right now.
J.P. Morgan shared 7 stocks set to win from AI bottleneck.
U.S. job openings reached highest level in nearly 2 years.
U.S. tech sector announced most job cuts in nearly 2 years.
U.S. proposed new tariffs of at least 10% on 60 trading partners.
Uber is cutting 23% of HR and workplace division.
ChatGPT reached 1B monthly active users in record time.
Broadcom plunged after leaving $100B AI chip sales forecast unchanged.
CrowdStrike announced a 4-for-1 stock split.
Goldman Sachs expects SpaceX’s AI revenue to jump 100x by 2030.
In today’s newsletter:
🚀 SpaceX’s Massive Valuation
💵 Nvidia’s Ridiculous Margins
📈 VOO Reaches $1T In Assets
📊 Berkshire Hathaway’s Stock Portfolio
💻 Anthropic vs Software
Let’s jump right in.
📣 Together With Masterworks
Where to Invest $100,000 Right Now, According to Experts
Investors face a dilemma. When the S&P 500 finished its worst quarter since 2022 last month, diversifiers like bonds and bitcoin fell too.
Even with the turnaround in mid-April, analysts at Goldman Sachs and Vanguard have projected low-single-digit annualized returns from 2024-2034.
Bloomberg asked where experts would personally invest $100,000 for their March monthly edition.
One answer that surfaced for a second time? Art.
It's what billionaires like Bezos and the Rockefellers have privately used to diversify for decades.
Why?
Appreciation. The ArtPrice100 Index outpaced the S&P 500 overall from 2000 to 2025
Low-correlation. The postwar contemporary segment has moved independently of traditional investments like stocks since ‘95.*
Resilience. A scarce, physical, and global asset class with decades of demonstrated demand.
Thanks to the world's premier art investing platform, now anyone can invest in works featuring legends like Banksy, Basquiat, and Picasso, without needing millions.
Shares in new offerings can sell quickly but...
*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.
This could be the IPO of a lifetime.
Back in April, SpaceX filed confidentially for an IPO, reportedly targeting a valuation as high as $2T.
Now, the company is targeting a $135 IPO price, valuing SpaceX at roughly $1.77T ahead of its expected June 12 debut.
The scale is massive.
At $1.77T, SpaceX would be worth more than Meta while generating less than one tenth of its revenue in 2025.
It would also become the 7th largest American company in the world.
The IPO could raise as much as $75B, making it the largest public offering in history.
Nvidia is not just growing fast.
A few weeks back, the company reported another massive quarter, with revenue rising 85% as data center demand continued to surge.
But the margin profile may be even more impressive.
Nvidia’s net profit margin reached 71% in the most recent quarter, more than doubling from 34% roughly five years ago.
That is significantly higher than some of the best asset-light businesses in the market, including Visa at 54%.
The expansion shows how much pricing power Nvidia has built from its first-mover advantage in AI infrastructure.
Plenty of companies are growing from the AI boom, but very few are converting that growth into profit like Nvidia.
The simplest trade in America keeps growing.
The Vanguard S&P 500 ETF became the first ETF in history to surpass $1T in assets.
The fund has pulled in more than $69B this year, helped by the S&P 500 reaching multiple record highs and investors continuing to favor low-cost index exposure.
VOO charges just 0.03%, making it one of the cheapest ways to own a broad slice of corporate America.
That simplicity is the entire appeal.
With one ticker, investors get a stake in 500 companies and access to the biggest names driving the U.S. market.
Greg Abel is starting to put Berkshire’s cash to work.
Berkshire agreed to buy Taylor Morrison for $6.8B, expanding its housing platform and marking one of Greg Abel’s first major acquisitions as CEO.
The company also added another $10B to Alphabet through a private stock purchase, deepening a position that has quickly become one of Berkshire’s largest holdings.
Together, the deals show two sides of the new Berkshire.
Taylor Morrison fits the classic playbook of buying a business in an out-of-favor industry.
Alphabet shows Abel is willing to commit serious capital to AI-linked growth.
Berkshire still has nearly $400B in cash, but the post-Buffett era is already becoming more active than before.
Anthropic is entering rare air.
The company recently filed confidentially for an IPO after being valued at $965B in its latest funding round.
That makes it worth more than a basket of major software giants, including Salesforce, ServiceNow, and Adobe.
The speed is remarkable.
Founded in 2021 by former OpenAI employees, Anthropic has quickly become one of the fastest-growing AI companies in the world, helped by strong adoption of Claude.
The company’s revenue run rate has reportedly surged from $9B at the end of 2025 to more than $47B today.
Now, public markets will finally get their chance to price it.
📣 Presented By Masterworks
The Last Time Stocks Were This Expensive Was December 1999.
"Right now, it's good. But it was in '72, '86, 2000, and 2007." - Jamie Dimon, May 2026.
The Shiller CAPE ratio just hit 42.3. The only time in 140 years it's been higher? December 1999.
Stocks can stay expensive for a long time...
It’s one metric to consider, but when your portfolio is built around the most expensive equities in modern history, what else you diversify with could really matter.
Blue-chip contemporary and post war art has shown near-zero correlation with the S&P since 1995.* Prices are largely driven by private collectors competing for a fixed supply of artwork by artists like Banksy, Basquiat, and Picasso.
Masterworks lets you invest in shares of that market.
$1.3B deployed across 500+ artworks
29 exits to date
Net annualized returns like 16.5%, 17.6%, and 17.8%, not including those unsold
*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.
🚪 Ackman Exit↗ – Bill Ackman plans to sell his Universal Music Group stake after the company rejected his €56B offer.
🫡 Europe’s MVP↗ – ASML has become Europe’s most valuable company ever on AI boom.
📈 Jensen’s Call↗ – Marvell Technology surged after Nvidia CEO Jensen Huang called it the next trillion-dollar company.
🐻 Bear Convicted↗ – Famed short seller Andrew Left of Citron Research was convicted of securities fraud.
🥇 Reserve King↗ – Gold overtook U.S. Treasuries as the world’s largest reserve asset.
✂️ Outlook Cut↗ – Lululemon cut annual outlook on negative media commentary and disappointing product launches.
Notable Companies Reporting Earnings Week of June 7th, 2026:
Major Trades Published 6/1 - 6/5. Trades may be those of family members. [Source: Capitol Trades]
Buys
Josh Gottheimer (D)
Company: Microsoft ($MSFT)
Amount Purchased: $500K - $1M
Description: Call options; Strike price $325; Expires 06/18/2026
Company: Microsoft ($MSFT)
Amount Purchased: $250K - $500K
Description: Call options; Strike price $325; Expires 06/18/2026
Sells
Josh Gottheimer (D)
Company: Microsoft ($MSFT)
Amount Sold: $500K - $1M
Description: Call options; Strike price $330; Expires 10/16/2026
Company: Microsoft ($MSFT)
Amount Sold: $250K - $500K
Description: Call options; Strike price $340; Expires 10/16/2026
Major Trades Published 6/1 - 6/5
Buys
Sells
Nvidia ($NVDA)
Insider: Mark Stevens (Director)
# of Shares Sold: 1,000,000
$ Amount: $221,102,600
SEC Forms: [1]
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