646 Capital
ex Citadel, JP Morgan
| Platform |  | Pricing | Only free issues | Publishes | Twice weekly |
|---|---|---|---|---|---|
| Issues | 6 | Founded | a month ago | Last Issue | 14 days ago |
| Active | |||||
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646capital.substack.comLatest Issues
$100,000 to $192,500 in Five Years, in Dollars, From an Indian Bank
Trade India Hands Out Once a Decade Is Back
Disclaimer: This article will probably only be of value to Non Resident Indians….
The Reserve Bank of India does not make this offer often. Twice in roughly twenty years is the cadence. The las...
SpaceX: The Lockup Detail No One Is Pricing
The SpaceX IPO printed Friday at $135. Float traded heavy, closed up, and the consensus take is now that demand was real and the deal was clean. Both of those things are true. Neither is the trade.
Here is what the deal actually looks like...
The Book Is Up 115%. Time to Show My Work.
The book closed June 3rd, 2026 up 115% year to date. That is a number that demands either to be shared or to be quietly buried. I have decided to share it.
The split is roughly even between two books most retail is told not to combine. The...
Long Apple Before Cupertino’s Coming Out Party
Apple closed Friday at $310.85. Wedbush has it at $400. Goldman at $340. Morgan Stanley at $315. Bank of America at $320. The consensus price target is essentially the current price, which is the market’s way of saying it has decided AAPL i...
The Hormuz Trade: Long Oil, But Not Crude
Brent closed Friday at $105 on the screen. Diesel and jet fuel are landing in Rotterdam and Singapore closer to $200. The gap between those two numbers is the entire trade.
Satellite shot of tankers queued at Hormuz
Since Trump’s “Epic...
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ex Citadel, JP Morgan | Markets, macro, and equity ideas from a Dubai desk. Every thesis comes with the trade | Entry, structure, and sizing.
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