// my extremely undervalued crypto-native bet for the Peptides & Biotech cycle - $CHOO ------ note: mp cap has just joined choo as an Advisor - below is our thesis on why we have decided to bet on it ------ unless you've been living under a rock, you know that Peptides & Biotech are the biggest market after AI. in the recent few weeks, we have seen how the market has been aggressively rotating to Peptides sector - and with it, the coming mindshare rotation along the risk curve of assets. in november 2024, solana onchain experience a major Agentic AI mindshare boom after the big rotation to Agentic AI - we saw it come to fruition with ai16z, griffain, and many other names in the agentic sector. all of which broke all mc ceilings of onchain plays, not in the form of pure memes, but in the form of utility-native memes. today, my bet is the same is about to happen with Bio - both in mindshare, and also utility. my crypto-side horse for this extreme sector is $CHOO - the first RWA Layer for Peptides. Michael Morelli, the founder of CHOO, has generated more than $100million+ in sales organically through his socials - fully doxxed and also very known in the peptides space. CHOO is his GTM strategy to growth-hack the next generation research peptides. The case to be made for CHOO becoming the Mascot of Dog Longevity sector is extremely strong. Its essentially the first Brian Johnson of dogs. They saved a rescue dog's life by making him the Most Measured Dog on the Planet, by treating it with next-generation peptides that recently even brought the attention of Andrew Huberman. They trademarked the IP for said peptide compound as the K-9 brand which belongs to the CHOO ecosystem. You might ask - what convinced me to play CHOO as the crypto eco's primary Peptide sector horse? one word: distribution. CHOO's peptide RWA distribution layers and are already doing 6figures/month and 7figures/month revenue. And they are accelerating. CHOO is my exposure to this sector as it is the Value Accrual Layer for Peptide RWAs - according to their team, they have designed the eco such that peptides purchased via the CHOO distribution pipeline to be at a systematically lower price than Fiat, making CHOO not only the Mascot of Peptides, but also the Value Accrual Layer of Peptides - as the protocol burns 50-100% of all CHOO used in peptide purchasea. After chatting with the Choo founding team, i have decided to join them as an Advisor - as i believe that this is perhaps the best exposure that crypto natives can get in the Peptide sector, whether it be now or the rest of the Bio cycle. however, note that crypto is very volatile it is best to come in only with what we can afford to lose. note: mp cap has $CHOO and is also going to be advising the crypto side together with ex-wlfi @cryptogle and other larger players in the crypto sector (that can't be revealed yet). depending on market conditions, mp cap may buy or sell tokens at any time. please do your own research. this is not investment advice. note2: as with many other players in the peptide space, peptides in their distribution are strictly research-only - please do NOT consume any materials without independent professional health advice. this is strictly not an endorsement of using any peptides, bio materials without prior professional and medical advice. NFA DYOR EJAxERvKU4kEVXn3NarjvRtgaMaJyP9ZuMeKA7JJpump

BREAKING: Revolut moved ~2,000 engineers onto self-hosted GLM for coding and pushed Claude Code and Codex to the exception list. Per David Abitbol, who leads AI ops there: 56 Nvidia B200s, a blended 30 cents per million tokens, roughly a tenth of what they paid Anthropic and OpenAI. Engineering lead time improved 70%. Here's the part that matters: the gains showed up when tokens stopped being rationed. Engineers quit saving AI for the hard tickets and pointed it at everything. Frontier models become the exception, open weights become the default. That's a pricing problem for every lab heading to IPO. h/t @OliverMolander Would you move your team off frontier APIs if the bill dropped 90%?

@SendoraFulton short term between nov 5 & anth nov ipo date i think there'd be a bounce on capex sector before continuing lower approx 2-4w post-anth ipo for biotech today i think its at where ai capex / memory was last year

@SendoraFulton short term between nov 5 & anth nov ipo date i think there'd be a bounce on capex sector before continuing lower approx 2-4w post-anth ipo for biotech today i think its at where ai capex / memory was last year

if u think that equities is crashing actually, most of the mkt rotated to biotech & obesity drugs (peptides) this month think that this is a macro trend that will only accelerate over the near future long biotech

OCTOBER WAS UGLY - monthly thematic rundown in charts 1. Top 10 v Bottom 10 2. z SCORES to show relative context 3. Best since... and what followed (new) 4. Quant Factor Returns (+) 32 other charts in report that I look at * if you want the full report you can download it below // feel free to use **also I asked MS on their drawdown chart making the rounds on X... that is a cherry picked chart from the PEAK IN JUNE through Friday... not just Oct, not the last week, not just Friday (I have some additional thoughts on that I will put out later) report link:

in crypto - on pairs where retail flow does not comprise of the majority (basically everything other than hype, its not 2021 anymore), never buy perceived ltf attempted breakouts its not a regulated industry lol

druck on risk mgmt via P&L watching...discretionary, tape feel, doesn't trust quant models "So my risk management system has always been what I've described, that knowledge, and then my gut, and watching my daily PnL. And if the daily PnL starts acting in a way it shouldn't, instead of going to some quantitative VAR or beta model, go, Oh, I'm okay, the model says I'm okay." -- full quote "And my risk management system is, and I believe this is true with George although we never talked about it: If I own, let's say, in today's world, the last 10 years at least, if you own stocks and you're short bonds, that most of those 10 years has been the same bet. And if you're long the Euro, that's probably a long risk bet. And you just kind of get a feel in your head of where your matrix is. And I can go in the gym and watch CNBC at 11 o'clock, and I have probably, if you include the whole firm, hundreds of positions on, and all I see on that stupid little ticker is what the S&P is doing, and I can probably tell you our PnL within $2mn. Just because my head knows what my Pound or my Euro position will be doing, and my gold position, based on that. And so I sort of have this internal thing where I'm watching everything. But the reason I love the human side as opposed to the quantitative side is there's nothing like my PnL--and you will pick up, Oh, C is not acting the way it was with A the last eight years, and there's something funny. And then you'll start seeing more funniness going on. And I have always thought that if my PnL acts--if things went well that day, and I'm losing money, and I examine what went on, and if that continues, something is really starting to go haywire in the system. So my risk management system has always been what I've described, that knowledge, and then my gut, and watching my daily PnL. And if the daily PnL starts acting in a way it shouldn't, instead of going to some quantitative VAR or beta model, go, Oh, I'm okay, the model says I'm okay. To me, these models are not only okay, they can get you in huge trouble by causing you a false sense of security when things start going awry, because the model will tell you you're okay, and you will see things happen you've never seen before, whereas if you are a intuitive human trader, you should be able to use your instinct to just start cutting when things aren't acting right."

on risk mgmt, cutting losses, common mistakes... "move your feet" Steve Cohen: If a [short] is moving against me, I’m probably buying in some every day. Even if there’s no change in the fundamentals? Oh sure. I always tell my traders, “If you think you’re wrong, or if the market is moving against you and you don’t know why, take in half. You can always put it on again.” If you do that twice, you’ve taken in three-quarters of your position. Then what’s left is no longer a big deal. The thing is to start moving your feet. I find that too many traders just stand there and let the truck roll over them. A common mistake traders make in shorting is that they take on too big of a position relative to their portfolio. Then when the stock moves against them, the pain becomes too great to handle, and they end up panicking or freezing. What other mistakes do people make? Steve Cohen: They make trades without a good reason. They step in front of freight trains. They short stocks because they are up, as if that were a reason. They’ll say, “I can’t believe the stock is so high,” and that’s their total research. That makes no sense to me. My response is: “You have to do better than that.” I have friends who get emotional about the market. They fight it. Why put yourself in that position?