Friday was supposed to be the jobs number, but it didn’t happen with the shut down. The headlines from Friday look like this….

But if you are thematic (more below) then nothing fizzled on Friday. Outside of crypto (more below), Friday’s biggest theme was the drone stocks. I’ve been talking about ONDS since it was in the 1’s….

A while back I wrote about how a caddy was bugging me for like 10 holes for a stock tip, I gave him this when it was in the 2s and said it was either going to zero or 10. Hope he took my advice.

We talked about this on one of our podcasts, pretty sure it’s close to doubled since then….

If you are not watching our podcast you should. I want to present you with deep dives on different thematics and exposure to all sorts of different types of investors.

If you have any suggestions for guests and topics feel free to send them over.

Last week there were all sorts of article about how Crypto was losing steam, now we see a bunch of these…..

I continue to believe you need to own crypto, which is why many of our launches focus there….

Gold is something you need to own also, it’s up big pre market. Another reason Wall Street is broken…

If you want a reason to be bearish, last week was the second week in a row where the Magnificent 7 underperformed the S&P 500. Are cracks starting to emerge, or is the rally just broadening out?

Thursday October 23rd 2-3PM EST

Covered call ETFs are everywhere — and everyone thinks they’ve found a “safe” way to collect yield in a sideways market.

The truth?
Most of them suck.

They cap your upside, mislead investors with “yield” that’s really your own money coming back, and often trail just owning the stock by a mile.

Join me for a brutally honest breakdown of how these funds actually work — and what you should be doing instead.

🔥 Why “high yield” covered call ETFs are often just returning your own capital
📉 How most call-writing strategies quietly destroy compounding
🚫 Why owning covered calls in bull markets is like running a marathon in a weighted vest
💡 The simple structure that can fix these problems — and where the real daily income opportunities are hiding

MarketWatch’s Joseph Adinolfi highlighted what many portfolio managers are afraid to admit:
value stocks are being left in the dust—again.

By Evercore ISI’s data, value names (low price-to-book, low P/E) are underperforming growth stocks by the widest margin since the dot-com bubble. The Russell 3000 Growth Index is up ~17% YTD, while the Value Index has barely cracked 10%.

That gap isn’t just cyclical noise—it’s structural.

Value investing worked when:

But that edge died the moment information became free.

Even Warren Buffett’s brand of deep-value investing relies on a scarcity of information and patience.
In a world where everyone has the same data and the same calculators, that edge is gone.

As you said, — the internet killed value investing. AI and crowdsourced research just finished the job.

If value is dead, what replaces it? Themes.

Because while everyone has access to the same information, not everyone can connect the dots.

Themes are about recognizing structural shifts before Wall Street’s models do.
They’re not about cheapness—they’re about change.

Examples:

Thematic investors don’t care if something looks expensive—they care if it’s early.

Your H.E.A.T. Formula — Hedges, Edges, Asymmetry, Themes — is the antidote to this transparency trap.

In a market where everyone knows everything, the only way to outperform is to look where the algorithms aren’t trained to look yet — new energy infrastructure, digital assets, AI healthcare, and national-security tech.

Value investors are waiting for a “reversion to the mean” that may never come.
That world assumed mean reversion mattered.

Today, we’re in a world of winner-take-all dynamics, network effects, and data monopolies. Cheap companies stay cheap because scale and compute power compound faster than value metrics can catch up.

If the dot-com era rewarded vision over valuation, this AI era rewards narrative married to execution.

The data confirms what you already see:

The winners? Thematic allocators who use AI to detect capital flow, regulatory policy, and technological acceleration.
The losers? Quant screens still pretending the market is inefficient.

Today’s stock is USA Rare Earth (USAR)…..

Longer term readers know that one of my top themes is Trump’s Inner Circle. No matter what you think of him as a President he’s extremely consequential for themes and individual stocks.

As one reader texted me last week…..

After a bit of censorship we’ve gotten the go ahead to launch our Tuttle Capital Government Grift ETF (GRFT). Hoping for Friday, but may bleed into next week. One of the biggest parts will be Trump’s Inner Circle. Stay tuned.