Core Viewpoint - Shri Upadhyaya emphasizes the importance of independent investing, advocating for deep research and personal investment strategies to achieve superior returns [1] Investment Philosophy - The investor believes that true investing edge is personal, derived from independent thinking and skepticism [1] - Shri's approach includes backing Buy and Sell calls with personal capital, enhancing the clarity and accountability of his investment decisions [1] Investment Focus - Coverage typically includes under-the-radar small caps with asymmetric upside potential [1] - Focus on low-beta stocks that have the potential to outperform or grow significantly [1] - A clear avoidance of poor risk-reward setups, regardless of their popularity [1] Short Selling Strategy - Pairs long investment ideas with targeted short positions, not merely as a hedge but as a strategic advantage [1] - Highlights that dogmatic hedging can be costly, but mispriced risks in the market present investment opportunities [1] - The best-case scenario for shorts is significant payoffs during market downturns, while the worst-case scenario involves offsets that protect the long book [1] Performance Improvement - This investment approach has contributed to smoothing volatility and steadily improving long-term Compound Annual Growth Rate (CAGR) [1]

Core Insights - Bitcoin's current price action is reminiscent of the extreme risk-reward environment seen during the early COVID-19 pandemic, indicating a potential asymmetric risk-reward scenario [3][4] - The cryptocurrency is perceived to be pricing in a recessionary growth environment, reflecting the most bearish global growth outlook since 2022 [4][5] - Recent price movements show Bitcoin has declined over 17% in the past 30 days, with significant sell-offs and liquidations impacting market sentiment [5][6] Market Dynamics - Bitcoin reached an all-time high of $125,100 on October 5, followed by a significant pullback after a $19 billion liquidation wave on October 10 [6] - The price dipped below $100,000, a key psychological support level, and briefly fell under $90,000 on November 20, but buyers quickly entered the market [6] - The current market setup suggests that Bitcoin is trading as if a deep economic downturn is already underway, influenced by aggressive rate tightening from the US Federal Reserve and the fallout from the FTX failure [4][5] Future Outlook - There is a belief that the current pessimism surrounding Bitcoin may be misplaced, with expectations of a rebound in global growth as previous monetary stimulus takes effect [7][9] - ARK Invest's CEO, Cathie Wood, anticipates a liquidity rebound in crypto markets driven by expected Federal Reserve policy shifts before year-end [8]

Group 1: Core Weaver and Meta Platforms - Core Weaver announced a deal worth over $14 billion with Meta Platforms to supply computing power, leading to an 8% rally in its stock during pre-market trading [1] - The CEO of Core Weaver stated that Meta was impressed with their infrastructure from previous contracts, prompting this new agreement [1] Group 2: Nike's Performance and Market Analysis - Nike's stock has underperformed over the past five years, down nearly 47%, while the S&P 500 has increased by 91.5% during the same period [3] - Despite the long-term underperformance, Nike has shown better year-to-date performance compared to other apparel companies, which are struggling due to tariff uncertainties [4] - Current price patterns indicate resistance levels at $72 to $74, with a notable low at $69, where the stock has stabilized recently [5][6] Group 3: Options Trading Strategy for Nike - Implied volatility for Nike is elevated ahead of earnings, with the options market pricing in a one-day move of approximately $5.30, or about 7.5% [8][9] - A suggested options strategy involves buying a 69 strike call and selling a 78 strike call, creating a bullish vertical spread with a risk of approximately $270 per spread [12] - The break-even point for this strategy is set at $71.70, which is only 3% above the expected opening price, making it a favorable risk-reward setup [13]