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☕️ SpaceX – already in orbit or a buy?

Jun 05, 2026

Howdy! 👋

Sooooo…

Traders woke up this morning to a stronger than expected US jobs report which in their world immediately translated to higher yields because – you know – “the Fed” might raise rates.

Sigh.

SOSDD – same old story different day.

Traders borrow huge amounts of money to do what they do and dump it faster than a bad corndog at the county fair when rates rise (because it makes the cost of borrowing higher).

Smart investors know better - and yes, I presume that you’re one of ‘em because we’re here together! 💯

Time to go shopping using two of my favorite tactics… LowBall Orders and Selling Cash Secured Puts.

The markets are great at making you feel uncomfortable short-term, but the discomfort you feel will pale in comparison to the pain you’ll feel long-term if you’re not in ‘em.

Here’s my playbook.

1 – SpaceX – already in orbit or a buy?

I sat down for a wide-ranging conversation yesterday with the fabulous Cheryl Casone to discuss the highly anticipated upcoming SpaceX IPO. (Watch)

Some of what we talked about:

Do I think the valuation is lofty?
Will it be right for all investors?
What will this do to the general market?

We also touched on the broader IPO pipeline and ancillary space stock plays.

Enjoy! 😊

2 – SpaceX has officially reached three-card monte status

Yesterday, Coinbase launched a pre-IPO perpetual "perp" futures contract tied to SpaceX — letting everyday traders get price exposure to one of the most valuable private companies on earth before it ever hits a public exchange. (Read)

I had to read the article twice. 🤦‍

Don’t get me wrong, I love innovative thinking as much as the next person.

We've seen this movie before.

When a company is hot enough that people can't get in the front door, they start climbing through windows. They pile into suppliers. They chase contractors. They buy anything with even a tangential connection to the story. They fall for clickbait and there’s been an extraordinary amount of that lately.

Now Coinbase has waded in with a crypto wrapper.

A crypto wrapper – I might add - that speculates on private-market valuation using a leverage derivative settled in stablecoin, that won’t own SpaceX or other big IPOs directly, that is being routed through Bermuda because US securities laws won’t allow it.

Catch all that?

Look, Coinbase has a lot going for it and is run by some pretty smart people.

But…

Greed never pays — except for the people selling it.

SpaceX is expected to IPO next week anyway and all indications are that you'll be able to buy the actual stock in days.

Just sayin…

Keith's Investing Tip: New financial products are almost always sold before they're understood. The opportunity isn't the instrument — it's the underlying company. That's always been true and always will be.

3 – Palantir: I still hope that I am smart enough to own shares for the rest of my investing lifetime

As noted in yesterday's Five with Fitz, Palantir held its 10th AIPCon.

It did not disappoint.

Highlights included:

Kirkland & Ellis: Launched an AI-powered enterprise platform for private equity fundraising. Allows lawyers to focus on high-value judgment calls instead of administrative drudgery, amplifying professional tradecraft.
McCarthy Building: Uses AIP to encode over a century of construction expertise into real-time decision support for project managers and field teams.
GNP Seguros: Mexico's largest insurer going enterprise-wide has been able to act on their data at a scale and speed that was not possible before.

(Watch the AIPCon 10 presentations here)

And lest I forget, Palantir is now available on Google Cloud Marketplace, with full integration across Google's platforms.

Meanwhile — and being overlooked — across the Atlantic, Palantir just landed a £9 million, 10-year contract to replace England and Wales's entire firearms licensing database. All 43 police forces. Gun permits, explosive precursors, poisons — the whole enchilada.

Doubters have nothing to say apart from moan about the valuation (again).

Me?

I still hope that I'm smart enough to own it for the rest of my investing lifetime.

You?

Meanwhile, CEO Alex Karp revealed he can “dead hang” for 5 minutes and 5 seconds, which puts him in the top 0.01% of men if I understand correctly.

As much as I suspect AIP will trigger new Palantir signup – as it should – I can only imagine a raft of new gym memberships amongst the Palantirians. I tried it this morning myself and let’s just say that I’ve got some work to do! 🤣

4 – In case you missed it

The fabulous Suze Orman asked me to join her for an extraordinarily important webinar last night – and the feedback has been extraordinary today.

Thanks to everyone for taking a moment to watch, listen, learn and, most of all, for spending a few minutes of your valuable time with us.

MyPOV is that we live at an extraordinary time in history… one heralding unprecedented change and opportunity. But – thing is – you can’t apply the same tired old rule book and expect different results.

A subtle shift in thinking can make all the difference in the world.

Here’s a link in case you missed it or would like to watch it again. (Watch)

And to be clear, I am not compensated in any way, shape, or form for suggesting you watch it.

5 – It’s Issue Friday!

What most investors struggle to understand is a challenge they don’t even know they face.

The biggest opportunities are still ahead.

So why is it they’re busy trying to apply a roadmap that was built 30,40,50 years ago to navigate a world that looks nothing like that today?

Because they can’t think outside the box.

This month we’re starting our time together with a choice that is doing just that and what I like most about it is that the market hasn’t yet recognized where I think they’re headed and what it means for medicine. I think it just might be good for a double in the next 12-25 months.

My bride is also back with Part 2 of her personal options journey and has a handy checklist for finding your first options broker that you may find helpful.

The Portfolio Review is, of course, packed with amazing new information that, in some cases, I think you will find as eye-opening as I do. Innovation is very, very real!

There’s also a fascinator that I couldn’t be more excited to share. Do you know who gets paid every time AI “thinks?” OBAers do.

And speaking of which, I’m seeing a disturbing new trend… AI is making scores of people dumber. In fact, a new study shows that 61% of people have already fallen into the behavior that’s responsible. So I cooked up 3 easy steps to prevent that from happening.

A gentle reminder, though.

One Bar Ahead® isn't built for cherry-pickers, ticker tourists, or quick-buck artists. But if you're ready to step outside what the system is set up to sell you and be a real-honest-to-goodness investor, I'd love to welcome you on board. 😀 People around the world tell me what they’ve learned about investing in optimism has changed their lives which is why a good number are still reading along with my research after 25+ years.