The era of easy money is over, and the market made that very clear today. Our long/short spread widened to 67.4% today, with our longs up 25.9% on average and our shorts down 41.6%. We made money on both sides of the book, which is exactly what a hedge fund is supposed to do. But the people chasing momentum and narratives are having a very different day. When the tide of easy liquidity goes out, the momentum and narrative bros find out what they really own, and anyone who's been doing the work on valuation and fundamentals finds this market pretty easy to read. We doubled down on a lot of our shorts last week, and CoreWeave alone is down almost 25% since we added to it on October 8. If you only started investing after the financial crisis, all you've ever known is more liquidity, and that game is OVER. I'm not calling a crash, because we're long and short, but the downside from here looks much bigger than the upside, and I have far more conviction in my shorts than my longs. If you want 60 more ideas for what comes next, our technicians conference runs October 27 and 28, with 20 of the best chartists on the street bringing 3 ideas each. Tickets are $99 until midnight tonight, and then the price goes to $199: noble-capevents.com BRACE FOR IMPACT

This is not what you want to see if you are a $CRWV bull. $CRWV remains one of our biggest shorts. We are short from $107. Only a takeunder from $NVDA will prevent bankruptcy. Subscribe to the Noble Update to receive our best ideas. 67% YTD performance based on a diversified book of longs AND shorts. We have unrivaled performance. We have decades of experience. We are battled tested and have been through numerous market cycles. We have a process. While others chase narratives and charts, we focus on valuation and fundamentals. KNOW WHAT YOU OWN. YOUR ATTENTION TO THIS MATTER IS GREATLY APPRECIATED.

ROSS NAILS IT AGAIN. He is a voice of sanity in a sea of narrative chasing financial illiteracy. The AI trade is FINITO. GAME OVER. AI is the biggest misallocation of capital in history. The coming bust will be epic. @Ross__Hendricks is a must follow if you care about fundamentals and your capital.

Oh Gary, say it ain’t so! $CRWV

The fuel America can't make enough of is at a record price. I sent subscribers a full report on uranium on Friday, and the response tells me plenty of you are watching this too, so let me double down with this one… georgenoble.substack.com/p/t…

$CRWV IS THE MOST OBVIOUS SHORT The stock is down 41% since we shorted it at $107 in June, and it’s still one of our biggest shorts. While it cratered, Robinhood customers bought a record amount of it over 5 days, and that's not what you want to see if you're a bull. I think only a takeunder from Nvidia, meaning a buyout below today's price, keeps it out of bankruptcy. Investors are refusing to pay up for AI data centers: georgenoble.substack.com/p/i…

TWO HOURS LEFT

THANK YOU FOR YOUR ATTENTION TO THIS MATTER.

5 HOURS LEFT

IN 19 YEARS THIS HAS NEVER HAPPENED TO OIL MARKETS 1. On Friday, Dated Brent (the price of a real cargo) was assessed at $116.58. Down $9.39 on the day. 2.The usual commentators called it April all over again. Physical scarcity gone, bears vindicated. 3. On the very same day, December Brent futures settled at $109.86. Up $3.94. 4.Physical down $9, paper up $4, in one session. The $20 gap between them closed to $7. 5. I went through every trading day since July 2007. 4,737 sessions. It has never happened at any meaningful size. 6. In April, physical fell to meet paper. That is what relief looks like. This time paper rose to meet physical. That is something else. SO WHAT HAPPENED? ...

YOUR ATTENTION TO THIS MATTER IS GREATLY APPRECIATED. @Convertbond @GordonJohnson19 @JG_Nuke @MacrostrategyP @edzitron @tomkeene @cvpayne @LukeGromen @Ross__Hendricks

13 hours left before the $99 early-bird price is GONE. Due to high demand, you're still able to grab a seat for the Best Technical Ideas Online Summit for HALF the price. 60 money-making ideas from 20 elite Wall Street technicians. More details here: noble-capevents.com

MAJOR UPDATE: Hundreds of you have already registered for the Best Technical Ideas Online Summit on October 27 and 28, and I'm grateful to every one of you. It's been an INCREDIBLE week. CoreWeave, which we shorted at $107 in June, closed Friday at $61.39, and the rest of our tech shorts are falling right along with it. Well, maybe it wasn't so incredible for the doubters and tech bulls… Unfortunately, some of you missed Friday's deadline. To celebrate the week we've had, we're giving you one more shot at the $99 price. It's open until 11:59 PM ET on Sunday, and after that it goes to $199 for good. You get 60 ideas from 20 of the best technicians on Wall Street over 2 days, with replays if you can't watch live: noble-capevents.com

The era of easy money is over, and the market made that very clear today. Our long/short spread widened to 67.4% today, with our longs up 25.9% on average and our shorts down 41.6%. We made money on both sides of the book, which is exactly what a hedge fund is supposed to do. But the people chasing momentum and narratives are having a very different day. When the tide of easy liquidity goes out, the momentum and narrative bros find out what they really own, and anyone who's been doing the work on valuation and fundamentals finds this market pretty easy to read. We doubled down on a lot of our shorts last week, and CoreWeave alone is down almost 25% since we added to it on October 8. If you only started investing after the financial crisis, all you've ever known is more liquidity, and that game is OVER. I'm not calling a crash, because we're long and short, but the downside from here looks much bigger than the upside, and I have far more conviction in my shorts than my longs. If you want 60 more ideas for what comes next, our technicians conference runs October 27 and 28, with 20 of the best chartists on the street bringing 3 ideas each. Tickets are $99 until midnight tonight, and then the price goes to $199: noble-capevents.com BRACE FOR IMPACT

We are short $CRWV from 107 and just recently doubled the position at 81. Subscribe to the Noble Update for unrivaled performance.

Michael Intrator belongs in jail. What an odious lying piece of garbage. $CRWV remains a core short for the Noble Update.