To The Moon

$ASML Holding NV(ASML)$   Mathematical Money | October 2026 Yesterday the KOSPI broke below 6,000 intraday. SK Hynix fell more than 9%, Samsung Electronics more than 8%, and a sell-side trading curb was triggered for the first time in two months. The trigger was CXMT, a Chinese memory maker, announcing progress on a memory-cell design that packs more storage into less space. Samsung, SK Hynix and Micron are roughly 90% of the world's DRAM, so a credible Chinese entrant with a density advantage threatens all three at once. I wrote about it that day because I own Western Digital, and I argued the selloff was being applied to companies it did not belong to. This morning the one company that decides whether anybody can build dense memory at

What if your child started investing in the stock market before learning to walk? That’s the idea behind Trump Accounts, a new government-backed investment program designed to give American children an early start. In October, the U.S. Treasury completed automatic enrollment for eligible children under 18. U.S. citizens born between 2025 and 2028 can also qualify for a one-time $1,000 government contribution, provided a parent or guardian claims the account and meets the program’s requirements. Here’s the interesting part: The default investment isn't Nvidia, Tesla, or another high-flying stock. It's SPYM, a low-cost ETF tracking the S&P 500. Why the S&P 500? The answer comes down to a simple investing principle: You don't have to pick the next big winner to build wealth over time.

Speaker: Tom Yuen (YCK), a futures trader with 30+ years of experience, walks first-timers through where futures come from, how they differ from buying something on the spot, and why the exchange exists at all. [About the Speaker] Tom Yuen (YCK) has over 30 years of professional futures trading experience. He started as an independent floor trader at the Singapore International Monetary Exchange (SIMEX, now SGX-DT), trading his own capital for 14 years before markets went fully electronic. A Computer Science graduate of the National University of Singapore, he teaches an approach built on technical analysis, trading psychology, probability and risk management. He is one of the trainers invited and endorsed by SGX-DT to conduct futures trading programmes, and has trained traders across Sing

Speaker: Tom Yuen (YCK) shows what to check on a contract specification before placing a trade, and explains margin, margin calls and leverage in plain language. [About the Speaker] Tom Yuen (YCK) has over 30 years of professional futures trading experience, beginning as an independent floor trader at SIMEX (now SGX-DT). A Computer Science graduate of the National University of Singapore, he is one of the trainers endorsed by SGX-DT to conduct futures trading programmes and has trained traders across Singapore, Malaysia and Thailand. [The Hook] Before any chart, any setup, any prediction, YCK asks one question: do you know what you are actually trading? Every futures contract comes with a specification sheet, and he walked through the items that matter. [The Contract Spec: What to Check] C

Speaker: Tom Yuen (YCK) shares the two rules he says matter most from his floor-trading days, how he thinks about probability and discipline, and how trading differs from investing. [About the Speaker] Tom Yuen (YCK) has over 30 years of professional futures trading experience, including 14 years trading his own capital as an independent floor trader at SIMEX (now SGX-DT). He teaches an approach built on technical analysis, trading psychology, probability and risk management, and is an SGX-DT-endorsed trainer. [The Hook] When YCK started on the floor, senior traders passed on all kinds of tips. After boiling them down, he says only two really matter. [Golden Rule 1: Don't Trade Against the Trend] On the old trading floor, big orders came in by phone and pushed the market for a few ticks wh

Speaker: Tom Yuen (YCK) walks through a simple Fibonacci pullback setup with an 80/20 exit, compares futures with options, and flags changes coming to contracts and US trading hours. [About the Speaker] Tom Yuen (YCK) has over 30 years of professional futures trading experience, starting as an independent floor trader at SIMEX (now SGX-DT). A Computer Science graduate of the National University of Singapore, he is an SGX-DT-endorsed trainer who has trained traders across Singapore, Malaysia and Thailand. [The Hook] A good setup, YCK argues, is more than a chart pattern. It also needs a plan for managing money and managing yourself. He demonstrated with a simple Fibonacci-based approach. [The Setup: Buying a Pullback to a Fibonacci Level] Find the context — the market drops into a support z

The indices: barely moved, but chips and memory went in opposite directions The three indices were nearly flat on Tuesday: the $S&P 500(.SPX)$ fell 0.02 per cent to 7,805.45; the $NASDAQ(.IXIC)$ fell 0.15 per cent to 27,204.38; and the $Dow Jones(.DJI)$ fell 0.35 per cent to 51,670.10. The 10-year Treasury yield eased from 5.24 per cent to 5.22 per cent. The compute chips that had been falling since last Thursday bounced: $NVIDIA(NVDA)$ rose 0.97 per cent to US$228.52 and AMD rose 1.90 per cent to US$605.53, with the specific AMD driver in the next sect

Semiconductor stocks have just endured another uncomfortable reset. Memory names have fallen sharply. Asian chip stocks sold off again. Concerns around China's semiconductor progress have returned. Meanwhile, investors are increasingly questioning whether the enormous AI capex cycle can continue at the same pace. Now ASML reports. For me, this is one of the most important semiconductor reports of the quarter. Not because ASML tells us what happened during the last three months. It can tell us what the world's biggest chipmakers expect to need 12 to 18 months from now. That makes ASML's order book more important than the headline EPS number. The Number I Care About Most: Bookings ASML sits unusually far upstream. TSMC, Samsung, Intel, SK Hynix and Micron cannot simply decide to produce subs

October 14, 2026 — Investor Education: The AI Debate, Mapped For the past two years, the AI trade had one voice. This week, it has two — and they're shouting past each other. On one side: Jensen Huang, who just repeated that global AI infrastructure capex will hit $3–4 trillion annually by 2030, insisting demand is "nowhere near" supply-constrained growth. On the other: Michael Burry, the man who called the housing bubble, arguing that AI will consume and destroy trillions in capital — and that markets may need to fall just to stop AI IPOs from vacuuming up the money. Between them sits the most important disagreement in markets right now: Is the AI supercycle a real productivity revolution — or a capex bubble priced for perfection? Here's the full map of who's saying what, so you can decid