Beat The Denominator

Consider the recent sell-off in Oscar Health (OSCR) as a potential buying opportunity, as the stock appears fundamentally undervalued after being unfairly punished in a sector-wide drop. The speaker has strong conviction, calling OSCR "too cheap to ignore" and personally adding to his position on the dip. For those investing in MicroStrategy (MSTR), view short-term price underperformance relative to Bitcoin as a bullish sign that the company is raising capital to acquire more assets. While the new Solana Staking ETF (SSK) offers easy access, investors should be wary of its very high fees and tax-inefficient structure. For long-term growth, buying and staking Solana (SOL) directly may be a more cost-effective strategy than using the new ETF.

For leveraged exposure to Bitcoin, consider MicroStrategy (MSTR), which strategically uses its stock premium to acquire more BTC for shareholders. The top-ranked Bitcoin miner is Riot Platforms (RIOT), valued for holding its mined Bitcoin and its significant growth potential from the AI/HPC data center theme. For income, MicroStrategy's preferred shares like STRIKE (8% yield with conversion option) or STRIF (10% yield) offer high dividends backed by the company's massive Bitcoin holdings. To invest in the entire ecosystem of Bitcoin-holding companies without picking individual stocks, the OWNB ETF provides diversified exposure. Avoid holding leveraged ETFs like MSTX or BITU long-term, as they are short-term trading tools that can significantly underperform due to volatility drag.

Consider any unexplained dips in Hims & Hers Health (HIMS) as a potential buying opportunity, as it is presented as a top conviction play disrupting traditional healthcare. Similarly, recent weakness in AI company Nebius (NBIS) could be an entry point, driven by its explosive revenue guidance and valuable underlying assets. For a leveraged play on Bitcoin, watch MicroStrategy (MSTR) for a potential entry if the stock drops to the $360 level. The core thesis behind these ideas is a long-term bullish conviction in Bitcoin as a fundamental holding to protect against currency devaluation. Investors should focus on these long-term growth stories while being prepared for significant short-term volatility.

Consider MicroStrategy (MSTR) as a leveraged investment in Bitcoin, as the company strategically issues new stock at a premium to acquire more BTC for shareholders. This "At-The-Market" offering is a core part of the investment thesis and is expected to continue as long as the stock's high valuation persists. For an income-focused alternative, explore the company's preferred stocks, which offer varying risk levels, such as the higher-priced STRIKE. More sophisticated investors might also consider BMAX for exposure to MicroStrategy's scarce and potentially valuable convertible notes. The overall strategy provides a consistent source of buying demand for Bitcoin.

MicroStrategy (MSTR) is presented as a high-conviction, long-term holding that acts as a sophisticated vehicle to acquire Bitcoin by tapping into the much larger bond market. The recent tokenization of MSTR stock in Europe is a significant bullish development, potentially unlocking new capital from global crypto investors. Income-focused investors, especially those in the FIRE movement, should watch for a potential new MSTR debt instrument offering highly tax-advantaged "qualified dividends." This entire strategy represents a leveraged investment on the long-term value appreciation of Bitcoin. For broader market exposure, consider rule-based indexes like the Nasdaq 100 over the committee-selected **S&

The pivot of Bitcoin miners to the AI/HPC sector is creating a significant investment opportunity due to their valuable access to cheap power. Iris Energy (IREN) is presented as a highly undervalued play on this theme, with analysis suggesting it could become a $10 billion company in the next 2-3 years. For investors who also want direct exposure to Bitcoin, Riot Platforms (RIOT) is a strong alternative as it holds the Bitcoin it mines while pursuing a similar AI growth strategy. Consider Marathon Digital (MARA) as a value investment, functioning like a "cheaper than a Bitcoin ETF" due to its low valuation relative to its assets. To gain broad exposure to this entire theme, consider investing in a Bitcoin miners ETF.

CoreMedix (CRMD) is presented as a strong buying opportunity after a recent stock offering, with its FDA-approved product DefenCath poised for significant growth. Consider IREN (IREN) as an undervalued, long-term investment in AI infrastructure, as its assets are believed to be worth more than its current stock price. For exposure to the GLP-1 weight-loss drug market, Eli Lilly (LLY) is the preferred investment over Novo Nordisk (NVO) due to a superior drug pipeline. When choosing a Bitcoin miner, Riot Platforms (RIOT) is favored for investors who want a company that holds its mined Bitcoin on its balance sheet. View the recent volatility in Hims & Hers (HIMS) as short-term noise, focusing instead on its dominant telehealth market share for a long-term hold.

Consider Hims & Hers (HIMS) as a long-term investment aiming to disrupt the healthcare industry with a superior, all-in-one digital platform, a strategy accelerated by its new product chief from Robinhood. The company's focus on price certainty and customized medication differentiates it from traditional healthcare providers. Similarly, Robinhood (HOOD) is presented as a high-conviction investment, successfully becoming a one-stop financial app with the best user interface in the brokerage industry. Its disruptive customer acquisition tools, like the 3% cashback credit card and IRA transfer match, are key growth drivers that competitors struggle to match. Both companies exemplify the investment theme of winning by being both the best and cheapest provider, creating a loyal customer base through superior value.

Consider buying Hims & Hers Health (HIMS), as it is viewed as the clear winner in direct-to-consumer healthcare and is currently trading at a very cheap valuation. The market is incorrectly valuing HIMS as only a GLP-1 company, overlooking its highly diversified and profitable businesses in erectile dysfunction, hair loss, and anxiety. Its superior marketing and new generic offerings, like a user-friendly liraglutide injector pen, provide a strong competitive edge. In contrast, Talkspace (TALK) is a high-risk stock to avoid due to the long-term threat of its therapy business being disrupted by free AI alternatives. TALK also faces significant risk from its dependence on a small number of large contracts, making its revenue potentially unstable.

MicroStrategy (MSTR) is presented as a "coiled spring," offering a compelling investment as its stock price has become cheaper relative to its underlying Bitcoin holdings. A potential catalyst to watch for is the announcement of a new preferred share ATM offering, which could trigger a significant price increase. Consider MSTR for long-term exposure to Bitcoin, as it is behaving more like a stable, blue-chip treasury company. For investors with a higher risk tolerance, Metaplanet and Semler Scientific (SMLR) provide more volatile plays on the same Bitcoin treasury strategy. Due to decreasing volatility in MSTR, it is advisable to hold the stock directly and avoid trading options on it.

The recent drop in Hims & Hers Health (HIMS) stock is considered a significant buying opportunity due to a market overreaction. Wall Street has misjudged the termination of the Novo Nordisk (NVO) partnership, as the affected GLP-1 business only accounts for 15-20% of total revenue. The core investment thesis is that HIMS is a disruptive telehealth platform with a strong, customer-centric model for personalized care. A potential future catalyst for the stock could be a new weight-loss drug partnership with Eli Lilly (LLY). Investors should focus on the company's long-term potential to disrupt the primary care market, not just the short-term weight loss narrative.