TOGETHER WITH
Hey there weekday warrior. This Thanksgiving, I’m thankful for all of you. You guys could read any newsletter, but you chose TWC. You guys are the real MVPs.
Hope you enjoy your Thanksgiving and Black Friday. I’ll see you all bright and early Monday.
Enjoy the next 3 minutes and 28 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
Do you understand the words that are coming out of my mouth?
Ok, I take back everything I ever said about POTUS being the worst job ever…
Turns out there are some perks that make the guilty conscience from carpet bombing innocent women and children worth it. Like reviving your favorite movie franchise, because you need to know what Chief Inspector Lee and Detective James Carter have been up to over the past two decades…
Paramount $PSKY ( ▼ 9.82% ) has reportedly secured funding for Rush Hour 4 following a push by President Trump to Make Jackie Chan and Chris Tucker Great Again. Yes, you read that right.
Under a fairly unique arrangement, the movie will be distributed by Warner Bros. Discovery, which owns the rights to the franchise.
Oh, and if that doesn’t manage to complicate matters, Paramount is currently bidding on Warner Bros. Discovery $WBD ( ▲ 6.28% ). In fact, WBD asked Paramount, Comcast, and Netflix to sweeten their offers yesterday.
The reboot has been rumored for a minute. Which isn’t a shock considering the trilogy put up YUGE numbers. It grossed $850M worldwide.
But Chris Tucker hasn’t headlined a movie since 2007… and I’m pretty sure he flew on Jeffrey Epstein’s plane. Meanwhile, Jackie Chan is in his 70s (… but presumably is still the f*cking man). And director Brett Ratner got #MeToo’ed (although he was never charged with any crimes).
This Thanksgiving, give yourself (and your business) the gift of a better tax bill
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+ “If you come at the king, you best not miss.” - Jensen Huang
Nvidia $NVDA ( ▼ 0.53% ) is going full spin zone on the “AI bubble” narrative. The Blackwell maker fired off a strongly worded memo to sell-side analysts refuting claims that there is f*ckery amidst. They called out Michael Burry specifically…
The 7-page document did its best to paint Burry as a mouthbreather (which seems kinda like punching a Make-A-Wish kid, given his diagnosis…).
NVDA disputed claims that it had been misleading about the useful life of its chips (and more importantly, how its customers depreciate them). Oh, and it tried to convince everyone its “circular jerk circular financing” (think: strategic investments in companies that will just spend the money with Nvidia) is no big deal.
Burry obviously clapped back (to his $349 per year Substack subscribers): “Nvidia emailed a memo to Wall Street sell side analysts to push back on my arguments on [stock-based compensation] and Depreciation ... I stand by my analysis. I am not claiming Nvidia is Enron. It is clearly Cisco.”
Burry’s ‘Cisco’ jab is a reference to the hardware supplier that appeared to be the big winner of the dot-com boom… until it wasn’t. Cisco’s supply eventually far outpaced demand for the gear that helped people get online. Cassandra Unchained sees Nvidia playing a similar role in the AI bubble.
+ Speaking of Nvidia…
Jensen and Co. dropped this banger after news broke that Meta $META ( ▲ 1.8% ) was considering using Google $GOOGL ( ▲ 1.15% ) chips going forward…
And who is going to tell the Nvidia marketing intern that you can tell ChatGPT to not use em dashes anymore?
+ Abercrombie shares soar 37% on Hollister growth, strong earnings beat (CNBC) Hollister, which is owned by Abercrombie, put the team on its back. Sales at the store that smells like teenage angst jumped 16% during the most recent quarter… and what year is it?
+ Kohl’s Shares Rocket Higher as Retailer Lifts Outlook (WSJ) Ah sh*t, here we go again… Kohl’s popped 35% on the day after hiking its full-year guidance and posting a (surprise) profit.
+ Binance sued by Oct. 7 victims' families for allegedly aiding Hamas through crypto exchange (CNBC) Yikes…
+ US stocks “ended sharply higher Tuesday, building on a broad rebound fueled by growing optimism that the Federal Reserve will deliver a rate cut next month, while tech heavyweights Alphabet (GOOG, GOOGL) and Apple (AAPL) posted record highs.” (Yahoo! Finance)
+ The 10-year yield “moved lower on Tuesday as the latest economic data showed signs of a weaker labor market.” (CNBC)
+ Oil “settled over 1% lower on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia’s war against it could be yielding fruit.” (Reuters)
+ The “smart” money (prediction markets) thinks there’s a 51% chance POTUS announces his pick for Fed Chair before the end of the year. (Kalshi)
⏪ Yesterday…
+ Alibaba, Nio, Abercrombie & Fitch, Pony AI, Dick's, Burlington, and J. M. Smucker dropped earnings before the bell
+ Dell, Zscaler, HP, Workday, CleanSpark, Autodesk, NetApp, and Ambarella reported after hours
⏩ Today we’re keeping an eye on…
+ Deere & Company and Li Auto report before the open
Yesterday, I asked, “You can only save one Thanksgiving food (main course). The rest vanish from the face of the earth. Which are you saving?”
28.8% of you said, “Stuffing.”
Here’s what some of you guys had to say…
Other: “We grill lobsters for Thanksgiving. I'll keep them.”
Mashed Potatoes: “Anyone selecting cranberry sauce should be barred from receiving your newsletter”
Turkey: “Turkey, as long as we can save the gravy, too.”
Turkey: “Not sure I could ever stomach another bite of green bean casserole, even if it didn’t remind me of my ex-wife.”
Mac and Cheese: “Only because you said it disappears. Can’t lose Mac and cheese over something like stuffing that unfortunately only seems to get brought out once a year (which is criminal in itself)”
Stuffing: “as long as gravy is included. If not, you're a cretin and I have to go with the mashed potatoes.”
Here’s today’s question…
What are you thankful for (besides The Water Coolest)?
Reply directly to this email.
Oh, and one more thing…
What did you think about today's newsletter?
Sent from my Amazon Fire Phone. Please excuse any mistakes and typos.
Does this look like the face of a guy you should take financial advice from?
No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...
This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.