Except Shake Shack $SHAK

The longer this government shutdown lasts for, the more people will realize A MUCH smaller Federal government is what we need. Ironic.

Okay, it’s confirmed. Labor market is cooked.

Private companies valued over $100B+ should be required to reveal balance sheets and financial statements 1x per year.

The importance of stock selection: Since 8/11/2025: $GOOG: +40% $MSTR: -36% An INSANE 76% return difference if at the time you bought an underperforming Mag 7 company vs a $BTC treasury company.

$BMNR No quarterly earnings releases. No replies from Investor Relations. No disclosure of shares outstanding. No plan as mNAV premium disappeared.

BREAKING: Tom Lee revises his year-end $ETH target downward by 30-40% during a CNBC Interview this morning. After initially suggesting $ETH would rise to $10,000 - $12,000 by year-end, this morning he said he thinks it can still rise to $7,000 by 12/31. $BMNR $SBET $ETHZ

$ETH with another casual -5% drop in 4 hours It’s actually become quite clear what’s going on 🤓🤓🤓

I’ve been using ChatGPT & Claude A TON My honest opinion in comparing the two… Claude is a Straight-A student that is always helpful and can be trusted ChatGPT is a struggling student that needs all of its work thoroughly reviewed I’d probably short OpenAI the second I could

Full deep-dive on SS: open.substack.com/pub/noblei…

One restaurant is still growing in 2025: SHAKE SHACK $SHAK is the 3rd company I’ll be covering (in addition to Opendoor & Duolingo) Same-store-sales growth for $SHAK is now the highest amongst its peer group and in an uptrend.

2-Year Performance Comparison (Mag 7 & Crypto 3) $NVDA: +378% $SOL: +347% $BTC: +212% $TSLA: +122% $GOOG: +121% $ETH: +110% $META: +108% $AMZN: +78% $AAPL: +55% $MSFT: +50% Which do you think outperforms the next 2 years?

George Springer took Dodgers moneyline

What does staking mean for $BMNR? My modeling assigns $1.00 of EPS if they were to stake half of their target holdings (6M $ETH) at a 3% yield, assuming a $5,500 price & 500M shares outstanding. If you assign a 10x P/E multiple to the stock, that’s $10 of share value above the NAV of its $ETH holdings. Why such a conservative P/E multiple? Because staking yield is stable and not expected to compound annually at 30-40% like tech earnings do. I see it more as the earnings of a mature value business. Staking will help with price discovery and all signs point to additional value creation for $BMNR shareholders in my view. Take a look at how much $BMNR could earn under various staking scenarios 👇

Gold, $GLD, is declining on news of the U.S. & China expecting to sign a trade deal next week. Uncertainty is fading as a trade war is off the table which reduces geopolitical tensions. These dollars should flow into a similar, but risk-on asset… I wonder which one? $BTC

$OPEN Part II of The Noble Report published last night! Thank you to all that have subscribed and supported already 🙏

The market punishes you for chasing Figma, $FIG, IPO’d at $33/share in July. Stock went parabolic to $140+ week 1. It’s now -63% from the highs and +40% from the IPO price. Much better risk/reward here.

“Good morning, sir. I accidentally closed out your $AMZN calls before the earnings release yesterday.”