SpaceX IPO: Why This Hedge Fund Manager is Fading the Hype | Moez Kassam

Watch on YouTube ↗  |  April 30, 2026 at 13:15  |  46:43  |  Monetary Matters
Speakers
Moez Kassam — Head of Research, Coinbase

Summary

Moez Kassam of Anson Funds discusses his contrarian investment approach, focusing on fading hype in areas like SpaceX, AI, and quantum while finding value in beaten-down software, U.S. cannabis, and oil stocks. He emphasizes sentiment analysis and activism as key alpha generators.

  • Moez Kassam outlines his philosophy of finding clarity in chaos and fading the crowd.
  • He is bearish on the SpaceX IPO hype and warns of early investor selling and index inclusion dynamics.
  • He views the U.S. cannabis sector as a massive opportunity due to DEA descheduling and the elimination of 280E tax rules.
  • He sees indiscriminate selling in software stocks creating value in companies with strong free cash flow.
  • He is cautious on me-too space, AI, and quantum stocks, preferring to short speculative names.
  • He believes oil stocks are undervalued because most investors expect oil prices to drop sharply.
  • He discusses activism as a tool to unlock value in underperforming software and media companies.
  • He notes that private credit yields are attractive given negative sentiment.
Trade Ideas
Moez Kassam Head of Research, Coinbase 16:57
Software stocks are deeply undervalued
Software stocks have been indiscriminately sold off 70-80% as the market panics over AI disruption. Many of these companies have real recurring free cash flow, are adopting AI within their ecosystems, and trade at very low multiples (half of S&P 500). The negative sentiment will shift, and the stocks should recover significantly.
IGV MED
Moez Kassam Head of Research, Coinbase 18:58
US cannabis can rise 400%
U.S. cannabis companies are massively undervalued due to regulatory overhang, but the DEA has begun accepting applications for licenses under full descheduling, which will eliminate the 280E tax burden, enable interstate commerce, and unlock economies of scale. This could lead to a 400% move in the sector over a couple of years. The MSOS ETF is a direct way to play this.
MSOS HIGH
Moez Kassam Head of Research, Coinbase 41:08
Oil stocks are attractively priced
Oil stocks are not reflecting the likelihood of prolonged higher oil prices because everyone assumes the Middle East blockade will end soon. Sentiment is overly bearish on oil, creating a buying opportunity in oil companies. The stocks are cheap relative to the potential for sustained elevated oil prices.
XLE MED
Up Next
11:01
Former NEC Director Gary Cohn: Rising oil prices will have an impact on U.S. consumption power
CNBC · Apr 30
3:51
Core inflation rate hit 3.2% in March, as expected; GDP grew 2% in first quarter
CNBC · Apr 30
11:11
Fed Chair Powell hopes to clear his name ‘once and for all’ by staying on, says Roger Ferguson
CNBC · Apr 30
43:00
Oil Hits Wartime High; Tech Earnings; ECB, BOE Rate Decisions | Bloomberg Brief 4/30/2026
Bloomberg Markets · Apr 30
48:27
Japan's 'Final Warning' on Yen as US Rate Gap, Iran Tensions Bite | The Pulse 4/30
Bloomberg Markets · Apr 30

This Monetary Matters video, published April 30, 2026, features Moez Kassam discussing IGV, MSOS, XLE. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Moez Kassam  · Tickers: IGV, MSOS, XLE