"Doświadczamy obecnie największego szoku podażowego na rynku akcji od 2000 roku. SpaceX, OpenAI, Anthropic, Anduril, Databricks – wszystkie te duże IPO nadchodzą. Wiemy, że SpaceX pojawi się za około dwa tygodnie. Anthropic złożył wniosek o IPO, więc pojawi się stosunkowo niedługo. Połączmy tylko trzy największe: SpaceX, OpenAI i Anthropic są warte około 5 bilionów dolarów. Skąd wezmą się pieniądze?" "We are right now experiencing the largest equity supply shock since 2000. SpaceX OpenAI Anthropic Anderil Datab Bricks, all these big IPOs are coming. We know SpaceX is coming in about two weeks. Anthropic is filed for an IPO, so they're coming relatively soon. Combine just the top three, SpaceX, OpenAI, and Anthropic are worth around $5 trillion. Where does the money come from?"

… ion gauge has been above 2% for 18 in of the last 24 months. The narrative right now is saying that inflation was tamed, but the data is saying otherwise, and the new Fed chair is going to have a hard time trying to convince everybody that anything's actually different than that. Now, the second big risk, of course, is the liquidity situation. So, we are right now experiencing the largest equity supply shock since 2000. SpaceX OpenAI Anthropic Anderil Datab Bricks, all these big IPOs are coming. We know SpaceX is coming in about two weeks. Anthropic is filed for an IPO, so they're coming relatively soon. Combine just the top three, SpaceX, OpenAI, and Anthropic are worth around $5 trillion. Where does the money come from? Where's that money come from? Google's also flipped from $60 billion a year in buybacks to $80 billion a year in net issuance in order to chase more capex. Trillions of dollars of IPOs and lockup supply will be hitting the markets in 2026. That's an enormous amount of money that needs to be absorbed by a market already kind of running on fumes fro …

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