SpaceX IPO: Why This Hedge Fund Manager is Fading the Hype | Moez Kassam
Episode publishedPodcast: Monetary Matters with Jack Far...Monetary Matters with Jack Farley
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Welcome to another edition of Monetary Matters on MTS. I'm Jack Farley.
And I'm Max Sweetie. We've got quite the show today. We have Moez Kassam, CIO of Anson Funds. Moez, thank you so much for joining, monitoring the situation.
Thank you for having me, and congrats on the new show.
Oh, we're we're very excited. Glad to have you here in the first couple of weeks. So, it's been quite the year, at Anson. I I mean, you guys had a great year last year. How has the first few months been for you so far?
You know, as we saw last year, we're continuing in a world of uncertainty, and, you know, our world is just really a function of knowing when to pivot. Right? Our aunts and motto is, you know, we we find clarity in chaos. And in the world we're in, there's plenty of chaos.
So what is the chaos, turning into opportunity for you right now? I read in your q one letter, you're very excited about all this chaos that's happening, and, you're well known for the alpha that you generate on the short side, specifically in these frauds, fads, bad business models, a lot of concern about the the SpaceX IPO. Do you think that this is gonna be an opportunity to short? And are you gonna go after the big boy, Elon Musk, or are you gonna go after the sort of SpaceX also rams?
I know it's it's definitely an interesting question. You you packed a lot into that one, but Sorry. Sorry. It's it's pretty much the richest opportunities that we've seen in years. You have, as you guys mentioned, the AI CapEx booming. And then as a function of that, indiscriminate selling across any software company, thinking that no other traditional software company can survive. And so that combined with the Trump, no predictability, what's happening in the oil market, you just have a world that is in complete chaos constantly. And the irony is if you gave this to any academic or to anyone
So it it's crazy to think that it's gonna be the largest IPO in history probably, but yet it might still be a low float IPO in terms of the percentage of the company that's gonna be trading. Do you think it's gonna act like your typical smaller cap low float IPO? Are we gonna have squeeze potential here in the early days of trading?
You know, it's a good question. This one, the devil's in the details. You have to really understand the nuances here, right? Most investors simply just read the headlines. We read the mechanics. That's the edge, looking past the spectacle to really know where capital and opportunity lies. Yes, as a percentage of a $2,000,000,000,000 market cap, it seems like a small percentage, but the free float being a minimum of $50,000,000,000 that's a lot of cheddar to move around. And we really aren't aware of the mechanics associated with this deal. Traditionally, IPO markets, every existing investor co
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