350 billion. That is how much fresh cash

Wall Street needs to come up with in the

next few weeks just to absorb three

massive IPOs and the wave of new shares

that big tech just started printing.

SpaceX, Open AI, and Anthropic are all

racing to go public at the same time.

Google is already selling 85 billion in

brand new shares. They just print them.

And Meta is reportedly next to print

some more shares. And that money has to

come from somewhere. And it's coming

from, you guessed it, yes, your

portfolio. Congratulations. Because the

top 10 stocks in the S&P, the stocks

responsible for nearly all of your

gains. And I can show you that sort of

analyst app here, which is Winston's app

here. And you can see that these top 10

stocks accounted for 72% of all the S&P

500 gains this year. and they're the

same stocks that are about to get sold

and diluted at the same time. So, by the

end of this video, Winston is promising

to give you our three-step framework to

not just survive what's coming because

that's important, but to come out the

other side potentially wealthier than

you went in. My name is Felix Pin. I'm

an ex-investment banker. This is Winston

here who's the brains behind it all. And

we've seen how banks really work from

the inside. And I'm also the founder of

the Go Academy where my retired Wall

Street mentors teach regular investors

institutional strategies and we've done

that for over 20,000 students the last

six years. And two months ago, right

here on this very channel, Winston

warned you that the debt channels were

shutting down, that big tech would be

forced to print stock to fund AI. And

Google just proved us right. $85 billion

in new shares. Meta is reportedly next,

and today we're going to break down

exactly what's happening, why it matters

to you personally, and what you need to

do about it step by step. Now, the video

here is going to be fairly information

dense. So, Winston has done something

for you. He's going to throw some

numbers at you. And to make sure they

really land, we're going to give you a

free bonus research report that covers

everything we're about to discuss, plus

much more, so this video doesn't become

endlessly long. You can download that

completely for free at

felixfrren.org/trap

tap. The link, of course, is in the

description down below. It is free. Just

grab it so you can follow along. So, let

me explain what's happening. And I'm

going to keep this fairly simple because

what I'm about to show you is something

every investor needs to really

understand whether you've been investing

for, you know, 30 years or 30 days.

Winston agrees, don't you? So these are

the two forces about to

hit the stock market all at the same

time. And both of them are aimed at the

same stocks. Force numero uno is the

triple IPO collision. Three of the

biggest private companies on Earth out

in space are all racing to go public,

basically sell themselves to you. First,

SpaceX. SpaceX is about to do the

largest IPO in history. They're raising

about 75 billion in cash. To put that

into perspective, this largest IPO we

had before was Saudi Arab which was in

2019 and they raised about 29 billion.

So SpaceX is asking for three times as

much cash as that IPO did, the biggest

in the world. Second, we've got Open AI,

the company behind Chad GPT, and they

filed their paperwork too. They're

looking to raise 60 billion. Third, we

have Anthropic. they make claude which

is your sort of French slightly angry

slightly I was going to say something I

shouldn't say. Um anyway it's sort of

like a chat GPT with uh without quite

the evil intent of chat GPT. Um and

they've also filed their paperwork and

they're looking for about 60 billion. So

you add that up 75 billion 60 billion 60

billion. You're like Felix you promised

me 350 billion. Yes, you're paying

attention. So this is about 200 billion

marinos and that's got to come from

somewhere in a couple of months. Now the

question that nobody on CNBC is asking

is where does $200 billion come from?

Winston, have you got 200 billion lying

around? I don't think so. Think about it

this way. Imagine three brand new mega

molds all opening on the same street in

the same month. every single shop in

town is going to lose what? Customers

because the shoppers, the investors in

this case, only have so much money to

spend. And then the second force is

this. Big tech is printing shares, which

gets which makes it way worse because

while the 200 billion is getting sucked

out for these three IPOs, the big

companies that you already own are also

asking for more money and they're not

giving you any more ownership for it.

Google or Alphabet as they're called

announced they are selling 85 billion in

brand new minted shares. Largest tech

stock offering ever. So what does that

mean in plain English? When a company

issues new shares, they are basically

printing more pieces of the same pie.

The pie does not get bigger, but now

there are more slices. So your slice,

the one you already paid for, it gets

thinner. It gets the ompic treatment and

it's called dilution in the words of

Wall Street. And it isn't just going to

be Google. Meta, the company that owns

Facebook and Instagram, is a reportedly

doing the same thing, selling tens of

billions of dollars in new stock. Meta

stock dropped about 5 to 9% on on that

rumor just in one day. Microsoft is

spending almost 200 billion on AI this

year. You think they're going to do it?

Probably. Amazon's probably going to do

it, too. So, where do you think all this

money is going to come from? Now, maybe

you're going to ask, well, why don't

they just borrow the money? Why sell

stock? And that is truly a great

question, isn't it, Winston? And that's

something that I warned you about two

months ago if you were watching this

channel then in a video that I'll I'll

link to somewhere around here. And what

I said to you then is that the debt

market is choking on tech debt. In the

first five months of this year, AI

related companies have issued 110

billion in debt. Borrowing costs have

gone up and the debt channels, the guys

lending the money, just can't handle

this one. So, they're turning to the

stock market. They're printing shares.

Your shares get diluted. So, if we add

this all up, the IPOs, the share

offerings, we're going to look at about

$350

billion being sucked out the market in

the next few months minimum. And every

single dollar of that has to come from

somewhere. It comes from who? Fund

managers selling stocks. And which

stocks do they sell first? the ones that

are the easiest to sell, the ones that

they own the most of, the biggest, the

most liquid name in the market. Think

about Google, Nvidia, Intel, Amazon,

AVGO, Apple, AMD. And these stocks are

the exact same stocks that are carrying

your portfolio right now. If you don't

own these stocks, you'd have made like

no money at all this year. your S&P 500

fund. 72% of its gains this year are due

to these 10 companies. Everything else

is just a complete waste of life. 490

stocks are doing I was going to say f

all bug. I think we're allowed to say

that, right? And that's where it gets

kind of personal because most people

watching this video probably think, "Oh,

I'm safe. got a 401k, maybe you got a

Roth IRA, you got some money in an S&P

500 index fund because you've been told

that just buy the index and hold it

forever. And it sounds smart, right? It

sounds diversified. It sounds safe. But

here's what nobody tells you. The

concentration problem is real. The S&P

500 is supposed to be 500 stocks, right?

That's the whole point. Diversification.

Don't put all your eggs in one basket,

right? Especially not with this guy

because he eats eggs faster than you can

say egg. But right now, the top 10

stocks on the S&P 500 are not just 40%

of the entire index. They also account

for, as I keep saying, 72% of all your

gains. 72%.

So, when someone tells you, I'm

diversified. I own the S&P 500. What

they're really saying is, 72% of all the

money I make come from just 10 stocks.

Makes you wonder why you own the other

490, doesn't it? And I want you to

really feel what's happening here,

because this is not normal. Your top

holdings are being hit from two

directions at the same time. Direction

one is the big funds selling these

stocks to get the cash to buy the IPOs.

Do you know this guy? He was Charlie

Monger's best friend. Monish Pabry, one

of the greatest investors alive. And he

says when asked about the S&P 500, what

was his answer? He said bearish.

>> Just that bearish. He's basically saying

at today's prices, stocks are

overvalued. They're trading at a price

toearnings ratio of 30. The long-term

average is 16. So stocks are twice as

expensive right now as normal. And that

is more extreme than in 2000, right

before the dot crash. And what's Papr

doing with his own money? He has zero

money in the S&P 500. He has zero money

in mega cap tech stocks. Buffett's

Burkshire Haway just sold the S&P 500

index fund. And they're always saying

everybody should own the index, right?

Well, they've sold the index. So, think

about that. This is actually your

retirement fund, the S&P 500 index fund.

That is your safety net. That is what

you're counting on to be well, you know,

there for you when you're 65, 70, 75

years old. And put in the chat how old

you are. See how much time you've got.

And one of the smartest investors on the

planet, in fact, two of the smartest

investors on the planet won't touch it.

And that's exactly why I'm running a

special live session this coming weekend

for you live from France. And it's

called the index fund trap. Why the S&P

500 is lying to you. It is. And think

about this. If the greatest value

investors on earth won't touch the S&P

500, you need to understand why. And

more importantly, you need to understand

what to do about it. And I'm going to

walk you through everything live with a

Q&A. You can ask me questions step by

step and it's the first time I'm running

this as a seminar. It's going to be

likely the last. And so you can either

join us live for free or you can learn

the hard way and you're going to see

what happens in five or 10 years. So

seats are limited. Get yours at

index.com.

Link is down below in the description

and in the pinned comment. And maybe

you're thinking, okay, Monish Pubry is a

value investor. He's always cautious

about overpaying of this nature. You

might think, well, that's just how these

value guys talk, right? So, let me give

you someone from the other side of the

spectrum. Tom Lee. You've heard of Tom

Lee? Put a T TL in the chat down below.

He's the head of research at Funstrap.

And he is the most consistently bullish

voice on Wall Street. This is literally

the guy who called the 23 rally when

everyone else is predicting a recession.

He called the 24 rally. He called the 25

rally. He's talking about the 26 rally.

Is he? Well, this permable, the guy who

always thinks stocks are going up right

now. He's warning of a 20% correction.

So, let that let that sink in. The most

bullish man on Wall Street, the guy

who's been actually right about the bull

market for the last three years is

suddenly telling people to brace for

impact. And his three reasons are this.

The new Fed leadership is creating

uncertainty. market markets get nervous

when the person controlling interest

rate changes. Number two, AI valuations

are getting repriced. The market is

starting to realize that maybe these

stocks aren't worth what we're paying.

And then this is policy fragmentation,

trade wars. They're creating headwinds

that could slow down profits. So Tom Lee

is predicting a painful drop in the

middle of the year. So let me show you a

pattern here. And once you see this,

you'll remember this one forever. I

promise you that. Back in 2021, we had a

massive IPO wave. The market was hot.

Money was cheap. Everyone was euphoric.

Rivian went public. Coinbase went

public. Robin Hood went public. And all

at what turned out to be absurd

valuations, and then the Fed started

tightening, interest rates went up, easy

money started disappearing,

and guess what happened? Robin Hood went

down 85%. Rivian crashed 85%. Coinbase

crashed over 75%. And the IPO market

just completely disappeared going into

2022. So the patterns always the same.

You get hype, then an IPO flood, then a

liquidity drain, as in the easy money

disappears, and then you get a crash.

We're seeing exactly that pattern right

now, but the numbers are about 10 times

bigger. And what no one's really talking

about is that big tech is together

spending 725

billion this year on AI. The Fed has

flagged AI spending as a top financial

risk. Now, here's what I think is going

to happen, and this is just my opinion,

but it's not a fact. I believe they're

going to spend less than they're

announcing. I also believe it'll take

much longer than people expect to see

the real benefits of AI. And I also

think AI is going to get a hundred times

cheaper. All these models, all these

tokens you got to pay for are going to

get really cheap. And most consumer AI

will be completely free like a Google

search. Paid for by advertising exactly

like Google is search is doing it today.

Google is already doing that, right? Go

on to google.com, search something as an

AI feature. It's free. And what that

means is that the return on that 700

billion in spend could be pretty

appalling because if you can do it for

free, why pay for it? Like what we're

doing, we have software we build, right?

So what do we do? We use the greatest

model out there. We pay for it at the

beginning and then we figure out how we

can use a free model to do the same

thing for us and then it doesn't cost us

anything at all after that. So we spend

a little bit, figure it out and then we

do it for free with one of the open

source models. And that way we can make

our software available to you at a at a

at a very reasonable price. Like for

example, if you want to monitor what

stocks are driving most of the S&P 500

gains and we update this all the time in

the Winston app, there's a link down

below. There's a whole free month of

with the Winston app. You can play

around with it. Get some insanely good

data. Uh find some value stocks, find

some momentum stocks, find stocks that,

you know, Trump is buying and all that

kind of good stuff. All at a very

reasonable cost. In fact, it's entirely

free for the first month. But what most

investors don't really understand, even

experienced investors, and when I

explain this, I think it's going to piss

you off and it's going to make you

slightly angry because there is a third

force and it's working against you and

your portfolio. And it's completely

automatic. You don't get a notification.

You don't get a vote. It just happens.

And it's called index rebalancing,

right? But how your index fund will sell

your winners without asking you is

something you want to know. So here's

how it works. NASDAQ has adopted

something called a fast entry rule.

Under this rule, when a company like

SpaceX goes public because it's big

enough, it can be added to the SM to the

NASDAQ 100 within just 15 trading days.

So every NASDAQ 100 index fund in the

world will be forced mechanically

automatically to buy SpaceX shares. 15

to 30 billion in forced buying depending

on how you look at the numbers. Now

these funds don't have cash sitting

around to buy SpaceX. They have to sell

something. They sell their existing

holdings across the board. It means your

index fund will sell some of your

Microsoft, some of your Nvidia, some of

your Apple and everything else to buy

SpaceX without asking you. Just happens

inside the fund and it doesn't stop

there. When OpenAI goes public in a few

months, same thing. We'll force selling

off the current holdings to make room.

When Enthropic goes public again after

that, again, same mechanic, same

pressure, three rounds of force selling,

all targeting the same 100 NASDAQ

stocks, the tech stocks most of you guys

own. And it's even the target date

retirement funds. You own one of these

Vanguard target date retirement funds.

Most Americans have them in their 401k.

You're again exposed to the same

mechanic right now. So your stocks are

being sold by big funds to free up cash

for IPOs. That's force one. Force two,

your stocks are being diluted by the

companies themselves printing more

shares. Basically pie is the same size.

They're just cutting it into smaller

pieces. You now own a smaller piece. And

then the third force is your index fund

is mechanically selling your winners to

make room for the new guys. So you got

three forces all pushing in the same

direction. And this isn't normal. This

is a structural event. So now you know

the problem. Now you're thoroughly

depressed and you're wondering, well,

what do we do about this? Please tell

me. Let's talk about the solution.

Because my goal here isn't to scare you.

My goal is to prepare you. The people

who get wealthy in markets like this

potentially are not the people who

panic. They're the people who have a

plan before the storm hits. Right? So,

let me give you my three-step framework.

And I want to be clear. This isn't

financial advice. I'm not a registered

financial adviser. I'm just a guy who

shares with you his opinion on what's

going on out there and some of the stuff

he's learned from my Wall Street

mentors. So, the first thing I think you

need to do today is as soon as literally

this video is over, pull up your 401k or

your brokerage account and answer one

question. How concentrated am I? And a

quick way to do that is take the total

amount you have in index funds and

multiply that by 0.4. Why? Because

that'll tell you how much of your money

is sitting in just 10 stocks. That's how

concentrated you actually are. So if you

have $100,000 in an S&P index fund,

40,000 of that is in just 10 companies.

And I know many of you then also own

those individual 10 companies separately

because you think you don't own them

yet. So you're sleepwalking in a very

very concentrated bet. And then step

two, understand where the money is

going. Because the most important thing

people don't realize is when big money

leaves the tech stocks doesn't

disappear. It doesn't go into a black

hole. It rotates. It moves into another

part of the market. And right now, the

smart money is telling you exactly where

it's going. We've had coal and energy

companies. We've had oil service

companies doing really well.

Transportation, biotech companies, a lot

of stuff out there. Basic materials, a

lot of things have done actually very

well. And then step number three, build

your watch list before the dip. And I

think that's the most important step,

and it's one that separates the amateurs

from the professionals. You don't panic

sell. That's how people get destroyed.

You don't try to time the exact bottom

of the market. That's impossible. What

you do is this. You make a list right

now today before anything happens. A

list of high quality companies that you

would love to at the right price. Pick

10 to 15 names. Again, you can get some

help. Go into the Winston app, click on

highest rated. You can filter this down

to, you know, your country wherever you

live in the world if you're investing

regionally. and it's going to start

giving you some names here sorted by the

highest scores that we give them. Then

you wait and if you join me on Saturday,

I'm going to show you that on a much

much deeper level because there is more

to it than just looking up the

financials. You want to see the money

flowing into it, right? Because many of

you are sitting here thinking, okay,

Felix, I sort of get the logic, but how

do I actually do this? How do I audit my

concentration? How do I find the

rotation place? How do I know what to

put on my watch list and what prices

should I set as buy prices? Well, that's

exactly what I'm going to cover for you

this coming weekend. Saturday, live from

France. So, it works for you if you're

in the Medicas or if you're in in in,

you know, the socialist states of Europe

or formerly Great Britain, just Britain

nowadays. I'm going to teach you this

index fund trap, how the S&P 500 is

lying to you. I'm going to walk you

through step by step live with a Q&A how

to order your portfolio for that

concentration. How about to identify

where the smart money is flowing and how

to build that list, the exact list that

could turn a crash into the best

investment opportunity of your life. It

is completely free. Claim that free seat

that's waiting there for you at

index.com.

Link is down below in the description.

And if you're going to show up for

yourself on Saturday, write show up in

the comments down below. And I know

you'll be there. And let me leave you

with this. Every great bull market, it

has a shakeout. Every single one. The

'9s had one. The 2010s had one. This one

will, too. The AI revolution is real.

I'm not saying AI is fake. I'm not

saying space won't be, you know,

valuable. I'm saying the stocks that are

pricing it in are a little ahead of

themselves. And the companies behind

them are printing shares to pay for bets

that might not work out for many years.

So, the people who potentially get rich

from this aren't the ones who bought the

hype at the top. They're the ones who

bought the hangover. This is not 2008.

This is not the end of the world. The

economy isn't collapsing. This is a $350

billion game of musical chairs. And you

just got told the music's about to stop.

Mish Pry sees it. Tom Lee sees it.

Baffford sees it. The question is, do

you? And what are you going to do about

it? Have your list, know your prices,

buy the hangover, and I'll see you on

Saturday at indextrap.com.

Link is in there.

And if this video has helped you to see

something you didn't see before, share

the video with somebody. Share the live

seminarstrap.com

link with other people who you think

might benefit from this, too. Because

that's the entire point of this. Help

people become more financially literate.

improve your skills so you can make

better decisions so you can get to the

freedom and the retirement that you

deserve. There is a $2 trillion time

bomb buried deep inside America's

retirement system and Wall Street is

praying you don't find out before it

detonates right now. Literally right.