Cash is a Position. The market is starting to run hot. I expect this to continue at least into the Anthropic IPO. I'm currently 0% cash and not trimming, but it's not a bad idea to start reducing contributions and building a cash buffer. Be greedy when others are fearful. Be fearful when others are greedy. The market is far from greedy yet. But worth keeping an eye on.

CAS Space's Kinetica 1 had successful launch today w/ 9 sats including 谛听01组A/B/C for the Jilin-1 constellation. In order to fully build out all the constellations, the private launchers need to continue to ramp up their launch cadence

Cash secured puts have an EXPENSIVE price tag nobody notices. Say you keep $150,000 in cash securing trades. That's the going rate for a decent sized options income strategy according to "gurus" online. That $150k earns you the premium & nothing else. If it had been in index funds instead, at what the market's averaged, you'd have made tens of thousands more per year on the exact same trades. Over a decade that gap is life changing money. & here's the thing. It never shows up as a loss. There's no red number. No statement line. It's just returns that quietly never happened. That's why the strategy stays popular for 20 years. The cost is invisible. My collateral is my $VOO & $QQQ. Same trades, same premiums, & the money never sits out. The portfolio secured put will change your live.