Daily Alpha · YouTube
· Post-Market Alpha · by Buzzberg Research
Who was talking 94 videos · 18 channels
Leverage reset
1 video · 1h 36mAll-In separates a still-live semiconductor thesis from ownership structures that could not survive the path.
Leverage, not the AI thesis, drove the forced unwind
All-In separates the semiconductor thesis from the ownership structure: at roughly 3.5 turns of leverage, a 25% adverse move becomes a roughly 75% capital hit and can hand control to prime brokers.
AI demand dispute
1 video · 8mZitron challenges the quality and concentration of cloud demand rather than denying the scale of capex.
The AI-capex bear case is customer concentration
Ed Zitron argues that cloud demand is too concentrated in OpenAI and Anthropic, which he says depend on continual outside capital rather than current cash flow.
Supply and inflation
3 videos · 1h 34mA Korean memory specialist sees shortages through 2028; Wang and Ferguson connect refinery constraints to inflation and a possible rate hike.
A Korean memory specialist sees shortage conditions through 2028
Noh Geun-chang argues that equipment constraints, long factory ramps, long-term agreements, and premium products leave memory supply short through 2028 despite CXMT expansion plans.
Refinery damage can lift inflation even without a crude spike
Joseph Wang argues that damaged or constrained refineries can keep gasoline and refined-product prices elevated even when crude oil itself is less extreme.
Ferguson expects Hormuz inflation to force a 2026 rate hike
Niall Ferguson expects a rate hike this year because Hormuz-driven inflation should push the new Fed leadership to establish an early hawkish, independent posture.