Trading Post June 16, 2026
Today, I added to positions. All these positions are essentially full positions, and I added incrementally to each. I certainly refer you to the Trading Post June 15, 2026, as late last night I updated and expanded on it to give a more full account of the reason for the trade.
Today, I bought more Fiserv (FISV) at about $49.50 for the same reasons. As well, I executed the following trades.
Alibaba (BABA ADS) — ~$109.50, full position
See the chart below. Green bars are gross margin, red line represents revenue, yellow is the Price/Sales ratio, and white is the Price of BABA stock.
Hong Kong stocks are in free fall now – BYD is getting closer to my buy price in the mid-70s too. This is due to momentum in the U.S., Korea and Japan sucking all the flows, as well as China summoning several large food companies including Meituan and JD over food safety. Also, China Retail Sales fell 0.6% vs. expectations of -0.2%. The consumer economy in China remains stuck, but Alibaba and the others continue to grow revenue and invest at the expense of smaller enterprises.
Zoetis (ZTS) — ~$78.70, full position
The volume swell says we are closing in on a bottom. This is a world-class global animal health company, the only pure play with truly stellar and steady ROI. Recent troubles are far overstated for this potential forever hold.
Veeva (VEEV) — ~$160.60, becoming a full position
The business has a significant moat and is not at significant risk from "AI."
Note the volume swell for Veeva — that could be the beginning of a bottoming process. I really like Veeva. You see it here on the All Map. A solid fat pitch.
JD (JD ADS) — ~$28.30, very full position
What one notices about all the charts above is how revenues keep going up and to the right even as the stock crashes 70-80%. The Price/Sales ratio collapses, yet even the number one determinant of Price/Sales ratio, gross margin, remains elevated or at all-time highs.
Bruker preferred (BRKRP) — trimmed
Sold part of my Bruker 6 3/8" 09/01/28 Preferred (BRKRP) position in the low $420s after a quick 50% run. I still like Bruker very much, and it was very oversold. I am not surprised by the quick snap back.
SpaceX (SPCX) — a hard pass
SpaceX (SPCX) options were listed this morning. A put with a $100 strike price in December 2028, with the stock at $212, is $25! Moving up to June 2027, the price is still $13. Moving way up to 6 months from now, December 2026, when many more shares will come onto the market, that put costs me $6.75.
Tempted by that one. But no thank you. With any luck SPCX will settle up here in the mid $200s and vol will drain out of the put option chain. I am not involved with SpaceX now. Neither short nor, ahem, long.
Now, attention please! The numbers for which you have been waiting. At $2.8 TRILLION market cap, SpaceX, which is fundamentally a small space company, a niche telecom, a bedeviled social media company, and a Coreweave-light, has less than $20 billion in total revenue.
With that $2.8 trillion, SpaceX's market cap could buy Page, Brin, Bezos, Zuckerberg, Ellison, Arnault, Huang, Buffett, and Ortega and still have $1 trillion left over. Those are the numbers 2-10 richest people in the world, after Elon. SpaceX's market cap is now larger than each of Russia, Italy and Canada.
Berkshire Hathaway has been eclipsed 2½ times over in just three days. Berkshire Hathaway, painstakingly assembled over two century-old lives. The two greatest investors of our time. SpaceX's net worth could buy every single U.S. aerospace and defense company and have money left to buy every gold miner and airline in the world. Elon Musk himself is now worth more than Berkshire Hathaway.
I could go on folks, but… Until next time!