The Kobeissi Letter

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The Kobeissi Letter

@KobeissiLetter

Official X account for The Kobeissi Letter, an industry leading commentary on the global capital markets. Email us: support@thekobeissiletter.com

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Joined June 2015

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The Kobeissi Letter

@KobeissiLetter

Jan 11

ANNOUNCEMENT: We are excited to present The Kobeissi Letter’s 2025 performance report. Our analysis provided a net return of +30.7% in 2025, outperforming the S&P 500's 2025 return of +16.4%. Since 2020, our investment strategy has now returned +516.3%, significantly

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The Kobeissi Letter

@KobeissiLetter

BREAKING: The US Government has officially partially shut down.

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The Kobeissi Letter

@KobeissiLetter

BREAKING: The US OMB confirms a government shutdown will begin at midnight.

BREAKING: Talks over a $100 billion deal between OpenAI and Nvidia, $NVDA, have stalled. Nvidia's Jensen Huang has reportedly "privately criticized" OpenAI's business strategy.

This is absolutely insane: Silver fell as much as -35% during intraday trade today, it's largest intraday drawdown in history. Yet, silver prices still closed the month GREEN, rising +19%. This means silver has now risen for 9-STRAIGHT months. History is an understatement.

BREAKING: New details emerge on the upcoming record setting SpaceX IPO: 1. Targeting a "conservative" $1.5 trillion valuation 2. SpaceX generated between $15-16 billion in revenue in 2025 3. Looking to raise $50 billion in largest IPO of all time 4. Targeting an IPO launch

BREAKING: The US has told India that it will be able to purchase Venezuelan crude oil soon to replace imports coming from Russia.

BREAKING: The US' goods trade deficit widened by -$27.6 billion, or -95%, in November, to -$56.8 billion, the highest since July. This marks the largest monthly increase since 1992. This comes as the value of all US goods and services exports fell -$10.9 billion, to $292.1

Japanese retail traders are reducing bearish US Dollar bets: Retail investors in Japan cut -$561 million of net short positions in the USDJPY currency pair between Friday and Tuesday, to -$2.27 billion net short, the smallest bearish US Dollar position in at least a year. This

Today is one of those days that will be referenced for 50+ years. A near $10 trillion swing in precious metals market cap over 24 hours.

BREAKING: Gold loses -$6.3 trillion of market cap in 24 hours, its largest drawdown in history. That's -$263 billion per hour for the last 24 hours straight.

BREAKING: Spot silver falls as much as -35%, dropping below $75/oz, on track for its biggest daily decline in 46 years.

US population growth is slowing: The total US population rose by +1.78 million people in the 12 months ending July 1st, 2025, to nearly 342 million people. This marks the first decline in population growth since 2021. Last year, net immigration declined ~50% YoY, to 1.26

US long-term unemployment is surging: The number of Americans unemployed for 15+ weeks is up to 3.1 million, the highest since October 2021. Over the last 3 years, this figure has soared +1.2 million. During the same period, the number of unemployed Americans for 27+ weeks has

Crypto ETFs are recording massive outflows: Crypto funds saw -$1.7 billion in outflows last week, the largest since mid-November. This marks the 2nd-largest withdrawal in at least a year. Over the last 3 months, investors have withdrawn -$2.6 billion in total. Bitcoin ETFs

BREAKING: Spot gold prices officially fall below $5,000/oz, now down -11% in 24 hours.

Incoming Fed Chair Kevin Warsh: 1. Youngest Fed Governor in history during 2008 Financial Crisis 2. Said the Fed waited too long to raise interest rates in 2022 3. Said the Fed lost credibility by overstimulating post-COVID 4. Said QE inflates asset bubbles and worsened

BREAKING: December PPI inflation comes in at 3.0%, above expectations of 2.7%. Core PPI inflation unexpectedly RISES to 3.3%, above expectations of 2.9%. Core PPI inflation is now at its highest level since July 2025. PPI inflation is running hotter than expected.

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