Episode 973: Martin Breaks Down His Trading Strategy and How He Uses TA. Tenax, Amazon Stock

**Martin Shkreli** (0:00)
Okay, Micron's getting smoked. Okay, see quantum rallying, that's interesting. Okay, I hope you guys can hear me, okay. Oh yeah, I saw D-Wave got a Spies up 60 bips, but Micron is down 5%.
Amazon and Microsoft up 5%, continuing a huge rally. Wild. Sandisk is down 2%. I don't have my shorts or sandisks. I don't care about GME, other than if it's, if I think it's going to go up, I'll buy some. Okay, I have one eats and I have one.
Um, I don't know Clorox, actually.
Can you walk us through how you tend to model when you during fun? That's all I do all day. And you can watch my video series. All right. Yeah, I don't think Bristol is getting bought up. Yeah, I don't see too many hedge funds calculating whack. Why? You're asking too many questions. Cost of capital is kind of an abstract idea. I mean, think about it. What does beta have to do with cost of capital? Does a more volatile company have a higher cost of capital? Isn't that kind of stupid? Microsoft just went up 25%. That's pretty volatile.
But it doesn't change the cost of capital. So working on Tenax, Tenx, this is a company developing a drug called Levosimendan or Simdax for heart failure. Yeah, I'm not a big fan of the Neocloud business model.
Seems like a capital intensive kind of difficult business. Nebius, you might want to model cost of capital, but not for NPV reasons. Yeah, I know tropes have never really worked out. It's kind of been a pretty terrible class. I'm not sure what Nebius' fair value is, so I'm gonna have to look at that. We're gonna read a few of these papers shortly. I don't know, I think it's hard to differentiate yourself without leverage. So I feel like, you know, just being like a tech fund without like really aggressive performance is pretty difficult. There's plenty of funds that have 2x, 3x leverage and survive. I think it's the correlation that can hurt you. Most misunderstood biotech. I wish I knew. I wish I knew. I don't have Macro takes. Nvidia's back up over 200 Apple's been an interesting one. Something's wrong with that internet. Microsoft is up so much.

**SPEAKER_2** (2:01)
Google's rocking too. Wow.

**Martin Shkreli** (2:03)
And I was buying Google in the 320s thinking I was buying a fallen knife. I think Semi's rally. The big concern is that the market doesn't like the CapEx coming from the Mag-7, but market seems like it. It doesn't seem to be that opposed. HAT is up 7%. Interesting recovery. Western Regions Seagate down 7% each. The Truth API. Astra's still down 8% on this deal that'll never happen. SpaceX has just been completely walloped, so it's up 1%. What are you complaining about? It's literally up 1%.
Yeah, it's basically the approach is read all the papers, the important papers, understand the drug. First thing I always try to do with the drug is understand the mechanism of action, the key clinical data. I like to understand what other similar drugs look like.
In this case, you have a class that's been used for a long time, and usually what applies to the class member applies to the rest of the class. There's around 2,000 papers that mention Levos and Mendan. We don't have to read them all, thankfully, but I do think we should read around 50 I love this guy questioning how I work. So much ADHD.
I feel bad for this generation.

**SPEAKER_2** (3:19)
Yeah.

**Martin Shkreli** (3:19)
What about Palantir? Just semis. I flipped short. I timed the semis really well. What will we get approval for? I guess the thought was like Reddit is losing DAUs. So yeah, I don't think Snapchat is the next big thing. Maybe missed ByteDance already. I'm doing a call on Wednesday with a cardiologist for Tenax and Cytokinetics.
Only by side is invited. So you have to be a hedge fund or other type of investor, and you can email me and listen in. Quantum is up today because of the D-Wave agreement with NASDAQ. I don't think Quantum is going to stay up, though.
Quantum is kind of at this point like put up or shut up. Like they keep doing these demos. You know, every time you do a demo with a company doesn't mean you put out a press release. If I did that, I'd be putting out a press release every day. You know, these companies are clowns. I don't know Crown Castle. I would not trade Micron Zero DTE. That sounds very risky. Well, Micron's almost green. Listen, all you guys complaining in the chat, I'm teaching my colleague how to make markets, okay? Ancient art of market making. What do you know about that?