Morningstar values SpaceX below 50% IPO target

https://www.cnbc.com/2026/06/03/morningstar-spacex-ipo-target-price-nasdaq.html

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Freeman's got so much riz they need to call him Aura Parseghian

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Is more useless today than it ever has been.

Find me one analyst who had Micron targeted where it is currently.

Of course SoaceX is overvalued. The parameters of overvaluation is not knowable.

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Has them getting $322B on AI revenues in 2030 with a total addressable market north of $20T -- over 20% of GDP. Insanity.

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Freeman's got so much riz they need to call him Aura Parseghian

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Pricing has become so disconnected from reality that the process of building a traditional, rigorous thesis on any company is just shy of folly. When failing businesses like Allbirds can goose their stock simply by mentioning AI as a toss-off, it's clear that the market is an unserious place that has more of the trappings of a casino than a sober arbiter of capitalistic merit.

I play around the edges of my PA with certain elements or sectors that I believe to be outperformers, but after two decades in the business, it has become clear that anyone who isn't largely rolling with the established indexes is a sucker. They're simply too big to fail, and there's too much weight and momentum to be interrupted by the reality of glaring flaws or shortcomings in the details.

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Same time that the gambling on financial products brain trust has moved on to chasing AI and SpaceX momentum. It’s almost like there was never any “there” there to begin with outside of the greater fool. And I thought all along maybe I just wasn’t smart enough to “get” it. /s

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how it could make money or have value. Hence, I have entirely avoided crypto.

When I came to Omaha in 1999, people were all telling me to invest in Level 3. I was a physics major so I know something about the technology. I said "please explain to me how it's going to generate revenue."

It sounded to me like betting on Mr. Ed in the Kentucky Derby. I passed. People lost a lot of money.

I generally don't invest in individual stocks. I leave that to my broker. The only one I have a noticeable amount of is Apple and that's because I inherited it and my brother is a VP there.

I know AI can do lots of cool stuff. For the $17 per month I spend on Claude, it's worth it. But that's not much of a revenue stream.

A lot of this reminds me of "MOOCs" (massive online offerings of courses). All kinds of people were saying this was a tsunami in education. Yeah, you could get a lot of people to sign up for cool-sounding courses online for free. But how do you make money on it? I haven't hear the word uttered in 5 years.

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"It's our blood and bones and these whistles and phones against Miller's and Noem's dirty lies."

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Have you seen Bruce’s current tour? So cathartic.

On crypto, it’s good at money laundering and crime and that’s all. That the micro strategy guy is considered a savant is all you should need to know… everytime the business news shows cover the price movements and experts weigh in on “support levels” for bitcoin, I shed a tear of pity for these people and their poor choices in life.

the Polo Grounds

Morningstar values SpaceX below 50% IPO target

Sell side research

the Sachs estimate

The entire market exists in a fantasy world.

Well said

I’m just truly shocked that Bitcoin is tanking at the exact

I don't invest in anything where I don't understand

Of your signature…

or dicking around on Kalshi