More Tales From Nvidia: Erratum (Issue #211)
Doug Kass
on
July 7, 2026
WALL STREET IS MISPRICING HYPERSCALER REVENUE
— George Noble (@gnoble79) July 6, 2026
If you want to know how a bubble bursts, stop listening to the technologists and start looking at the credit mechanics.
Right now, analysts are falling all over themselves cheering for the massive "forward revenue" and record RPOs…
The Dot Com Bubble overlay says we’re in the top of the 9th inning.$SPX $QQQ pic.twitter.com/tciVzMvbFQ
— David Marlin (@Marlin_Capital) July 6, 2026
One of the biggest lies of the AI bubble is that Microsoft, Google, Amazon and Meta are "growing because of AI."
— Ed Zitron (@edzitron) July 3, 2026
In reality, they're using the continued growth of their other business units to cover the meager returns from AI, and the massive waste of their trillion+ in capex. https://t.co/gRqnK5ERF3 pic.twitter.com/06zqcHIYbz
TREASURY HAS AN INTERNAL REPORT WARNING ABOUT THE DANGERS OF AN AI BUBBLE
— *Walter Bloomberg (@DeItaone) July 6, 2026
A draft U.S. Treasury report warns the AI boom could resemble the dot-com bubble, according to NOTUS.
The report says AI companies are deeply embedded in the economy, raising the risk that weaker…
The Mag 7 is Losing?
— Ritholtz (@RitholtzWealth) July 6, 2026
"Nothing outperforms forever. Expectations change. Investor flows go to where there is value or momentum. The winners never win forever. Even the biggest, best corporations in the world underperform sometimes."https://t.co/UuexrMpmth
by @awealthofcs pic.twitter.com/BKZ8BpIrQw
I miss when all his posts were like “dollars are the neurons of the bank” https://t.co/z2QhdYNLmU
— Ed Zitron (@edzitron) July 6, 2026
🦔The Treasury Department has a completed internal report that compares the AI boom to the dotcom crash and warns it poses systemic risk to the US financial system. The report has sat for weeks without approval. The Treasury spokesperson dismissed it and said the official… pic.twitter.com/b5GOcf4F4P
— Hedgie (@HedgieMarkets) July 6, 2026
Position: None
- Category: Daily Diary
Posted by Doug Kass
Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality. On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box." A Note from Doug: Current strategies and actionable trade ideas -- all on one dynamic platform built exclusively for active trades. From sudden sell-offs to sudden spikes, TheStreet Pro arms you with crucial analysis -- at a rapid fire, professional pace -- to help you make sound trading decisions -- every day, every hour, and every minute. Join me and my team of professional traders for unique perspectives and breakthrough investment opportunities.