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☕ Not not buying Nvidia? 🤦‍

Nov 25, 2025

Howdy! 👋

Nvidia’s getting pasted and the Nasdaq’s down while both the S&P 500 and DJIA are in the green as I type.

Figures.

As I noted several weeks ago, big traders are itching for a fight and want to talk the markets “down” … (so that they can get on board at lower prices before taking ‘em higher again).

I could care less.

I don’t like what’s happening any more than you do, but that’s different.

And why I encourage you to focus on the same thing I’m focused on.

There’s plenty of money to be made in both directions.

When the bulls and bears fight, it’s inevitably the chickens who get slaughtered.

Don’t be a chicken!

Here’s my playbook.

1 – Bitcoin meltdown? More like a clearance sale for serious investors

Okay sports fans.

Bitcoin is getting taken out behind the woodshed — down more than 20% this month and 40% off its highs — and BlackRock’s iShares Bitcoin Trust just reported $2.2 billion in outflows, its worst month ever. (Read)

Is bitcoin in trouble?

Yes and no.

This is classic “hot-money exits stage left” behaviour.

The same traders who piled in on the way up are sprinting for the exits. Bitcoin has always had a gambling element to it and that’s the part of the market that’s getting rinsed.

It’s the same with “hot stocks” from time to time.

Here’s the interesting part.

Stocks and crypto are both showing the kind of bottom-like behaviour lately that frequently sets the stage for a sharp snap-back rally — often 10% or more.

I’ve seen it a dozen times over the years.

When the ticker tourists fold, stronger hands inevitably step in.

Bottoming is a process, not a light switch.

Should you buy bitcoin (or any other crypto for that matter)?

Depends on whether you have the discipline and a proven framework needed to get past the short-term noise.

Or not.

Bluntly, I wouldn’t even remotely think about buying crypto if you don’t.

The big traders and institutional investors have embraced crypto (after years of hating on it) not because they believe in it but because they know millions of unsuspecting investors do.

Personally, I don’t like being in that position.

That’s why I’m sticking with digital clearing because it fits my view of where the world is going, why and how digital currency infrastructure ultimately plays out.

Moreover, it’s not bitcoin nor crypto-dependent.

It’s not perfect, and I get a lot of guff as a result, but it works for me because I like the odds on my side of the table. Plus, I get a nice juicy dividend too. 😀💯

Keith’s Investing Tip: There’s no doubt that the world is going to digital currency, so you want to invest accordingly. Emotion is the enemy and, bitcoin or not, discipline is your edge.

Btw, if you know what digital clearing is and you’re already on board, excellent! The vast majority of investors have no idea what that is let alone the profit potential it represents. I’ll be here if you’d like to learn more.

2 – The big short – this time with a paywall

You can’t make this stuff up.

Fresh off deregistering his hedge fund, His Excellency Big Shortimus Maximus Michael Burry is back with a $379-a-year Substack — Cassandra Unchained — to warn us (again) about the “AI Bubble.” (Read)

Apparently, the plan is:

Forget a decade of misses

Ignore the failed predictions

Pretend deregistering his fund was some kind of 4D chess

Brace for another apocalypse only he can see

Classic.

One brilliant call nearly 20 years ago… followed by a trail of “almosts,” “not quites,” and “oops, never mind.” Now it seems he’s selling the same old tired story with a fresh coat of Substack paint.

Meanwhile, the companies actually building AI — with real revenue, real customers, and so much demand they can’t secure enough compute — are scaling like crazy. Names we talk about constantly.

Is Burry going to be right this time?

Maybe.

Anything’s possible and he IS a super smart guy.

I could argue that he’s caused enough ruckus.

I’d rather throw in with the world’s most successful investors who constantly focus on being profitable even if they’re wrong.

Betting the farm on a single narrative is gambling, not investing.

No matter who’s doing it.

Keith’s Investing Tip: Doom sells at moments in time, but profits always scale over time. Three guesses which one is the better outcome and two don’t count.

3 – FSD 80% safer… but sure, let’s wait for more bike lane paperwork

Dutch authorities to Tesla fans: “Pls stop spamming us to approve FSD, we’re busy protecting you from robots that drive better than humans."

Yes, really. 🤦‍♂️

Dutch regulators just told Tesla fans to stop pressuring them about approving FSD Supervised. (Read)

Tesla is trying to roll out the system in the Netherlands, but the RDW says approval will only happen once the tech convincingly meets the country’s strict safety standards.

Convincingly???!!!

Doh.

FSD Supervised already shows an 80%+ improvement in US road safety, preventing crashes, saving lives, and eliminating the human errors that cause most serious accidents. In fact, with FSD Supervised engaged, you’re seven times less likely to be involved in a collision. (Read)

Similar data are coming in from around the world, too.

Meanwhile, and as I have long maintained, legacy automakers are digging their own grave by not licensing Tesla’s FSD.

Musk himself agrees.

There’s only one way this ends.

Invest accordingly.

And btw, think seriously about shorting or avoiding any insurance company not embracing self-driving.

Just sayin.’

4 – Meta to Google: “We’ll take billions worth of your AI chips, please.”

Most folks are reading today’s headlines and assuming that Meta exploring Google’s TPUs is the beginning of Nvidia’s pricing power cracking. (Read)

I see it differently and as a far more bullish proposition.

Meta’s already on pace to spend around $100 billion on Nvidia hardware… and they’re still capacity-constrained.

In other words, they’re not not buying Nvidia but, rather, buying more chips because they have to stack on top of that to meet AI demand. Even if Nvidia doubled output tomorrow, Meta would likely still be short of chips.

This is an opportunity of epic proportions.

You know what to do.

And if you’re an OBAer, please check yesterday’s update.

5 – Dick’s Sporting Goods is cleaning out the locker

Dick’s Sporting Goods is taking a broom to its newly acquired Foot Locker business, and a bunch of stores are headed for the chopping block.

Executive Chairman Ed Stack put it bluntly: “We need to clean out the garage.” (Read)

I agree.

Foot Locker has been a mess for years, which is why it’s had a rare “avoid it like the plague” rating from yours truly for as long as I can remember.

Dick’s core business actually did well — comparable sales up 5.7% vs 3.6% expected, earnings beat, holiday guidance raised. The acquisition juiced revenue, but it also saddled them with 2,400 underperforming stores and a lower-income consumer base that’s already under pressure.

Is Dick’s a buy?

Not for me.

I prefer companies with true zero-to-one catalysts — businesses that create new markets, new behaviours, or new profit engines because that’s always where the exponential wealth gets made.

Shoes and sporting goods?

Nice… but very n+1. Another SKU, another sneaker drop, another seasonal promo. That’s more like a treadmill, not a runway.

Keith’s Investing Tip: If you want world-changing returns, buy the future and companies making products people “must have” rather than stores they might walk into because they’re selling stuff that’s “nice to have.”