<div dir="ltr"><div dir="ltr"><div class="gmail_default" style="font-family:arial,helvetica,sans-serif"><span style="font-family:Arial,Helvetica,sans-serif;background-color:transparent">On Wed, Jun 24, 2026 at 12:13 PM spike jones via extropy-chat <<a href="mailto:extropy-chat@lists.extropy.org">extropy-chat@lists.extropy.org</a>> wrote:</span></div></div><div class="gmail_quote gmail_quote_container"><div dir="ltr" class="gmail_attr"><br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><span style="font-family:Calibri,sans-serif"><font size="4"><i><span class="gmail_default" style="font-family:arial,helvetica,sans-serif">> </span>it feels like cash is a fine asset to be holding in summer of 26.  </i></font></span></blockquote><div><br></div><div><font size="4" face="tahoma, sans-serif"><b>Maybe,<span class="gmail_default" style=""> but in the summer of 26 "cash" means fiat currency. </span> In the summer of 28<span class="gmail_default" style=""> I'm not certain what "cash" will mean.</span></b></font></div><div><br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><font size="4" style="" face="georgia, serif"><i style=""><span class="gmail_default" style="font-family:arial,helvetica,sans-serif">> </span>I am betting SpaceX will go lower.  </i></font></blockquote><div><br></div><div><font size="4" face="tahoma, sans-serif"><b>I think that's probably true, but I'm not certain enough to short the company.<span class="gmail_default" style="font-family:arial,helvetica,sans-serif"> </span> </b></font></div><div><span style="font-family:Calibri,sans-serif;font-size:14.6667px"><br></span></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><font size="4" style="" face="georgia, serif"><i style=""><span class="gmail_default" style="font-family:arial,helvetica,sans-serif">> </span>It’s one of those cases where it is a great company but not a great stock.</i></font><span style="font-family:Calibri,sans-serif;font-size:14.6667px"> </span></blockquote><div><br></div><div><font size="4" face="tahoma, sans-serif"><b>But is <span class="gmail_default" style="">SpaceX </span>a great company?<span class="gmail_default" style=""> Maybe, but remember, in the 19th century smart people realize that railroads would revolutionize the economy of the US and as a result hundreds of different railroad companies were started but, although they were right about the railroads revolutionizing the economy, nearly all the people that bought those new railroad company's stock lost all their money because the companies went belly up. And the same thing was true for people who invested in new telegraph and telephone companies with names that nobody remembers today. </span><span style="background-color:transparent">And in the early 2000s people were right that the Internet would revolutionize the economy, but <a href="http://pets.com">pets.com</a> still went bankrupt. </span></b></font></div><div><font size="4" face="tahoma, sans-serif"><b style="background-color:transparent"><br></b></font></div><div><font size="4" face="tahoma, sans-serif"><b style="background-color:transparent">And there's something else, I just don't trust Elon Musk<span class="gmail_default" style="">.  </span></b></font></div><div><font size="4" face="tahoma, sans-serif"><b style="background-color:transparent"><span class="gmail_default" style=""><br></span></b></font></div><div><b style="background-color:transparent"><font size="4" style="" face="tahoma, sans-serif">But I can find no reason to distrust Jensen Huang so I bought some Nvidia stock, and Warren Buffett said TSMC was one of the best managed companies in the world so I bought some of their stock<span class="gmail_default" style=""> (OK he also said</span> he didn't o<span class="gmail_default" style="">wn</span> the st<span class="gmail_default" style="">ock</span> because<span class="gmail_default" style=""> </span>he didn't like th<span class="gmail_default" style="">e company's</span> geography<span class="gmail_default" style="">,</span><span class="gmail_default" style=""> so I took a chance). </span>I also bought ASML<span class="gmail_default" style=""> stock</span> because Extreme <span class="gmail_default" style="">U</span>ltraviolet <span class="gmail_default" style="">L</span>ithography was the only practical way I could think of creating the sort of resolution th<span class="gmail_default" style="">at</span> chip companies were demanding, and they were the only one pursuing <span class="gmail_default" style="">EUL.</span> </font></b></div><div><b style="background-color:transparent"><font size="4" style="" face="tahoma, sans-serif"><br></font></b></div><div><b style="background-color:transparent"><font size="4" style="" face="tahoma, sans-serif"><span class="gmail_default" style="">John K Clark</span><br></font></b></div><div><br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div class="msg7180917649450680956"><div lang="EN-US" style="overflow-wrap: break-word;"><div class="m_7180917649450680956WordSection1"><p class="MsoNormal"><span style="font-size:11pt;font-family:Calibri,sans-serif"><u></u> </span></p></div></div>
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