I've built generational wealth in the stock market. Seen this same story a few times a year. Following the crowd isn't the way. Let's rewind for just a minute:
I was 24 years old and broke in the best possible way.
Just graduating college. My savings account was drained. A company I used every single day had just gone public.. And I couldn't stop thinking about it, because I just put my entire savings account in it.
The company was Google. 20+ years later this sounds like a no brainer... But at the time this wasn't as obvious to everyone else.
I know professionals say you shouldn't take big risks, maybe I was crazy. But you know what? I also had perspective to know no matter what GOOG shares did, I was about to get a job with a regular paycheck. It makes more sense to take bigger risks the younger you are because hopefully you have more time to make up any losses.
Google wasn't the name it is now. It was an internet company. The dot-com crash was still fresh in everyone's minds. But I wasn't thinking professional's advice, or about trends or hype. I was thinking: I use this thing constantly. It helped me graduate. It's genuinely useful. And it's brand new.
I held those shares through splits and name changes. My GOOG shares split into GOOGL. Google became Alphabet. GOOG and GOOGL split again I never sold.... Until just a few months ago.
That investment helped me buy a lake house in Florida.
I'm telling you this today because a lot of people are about to make a mistake.
SpaceX goes public today.
The ticker is SPCX. The expected price is $135 a share. The valuation? $1.75 trillion. Don't be surprised when the stock sky rockets above the $135 share price.
I've already seen the emails. The YouTube thumbnails. The Discord chatter (not in our discord, but others).
Generational wealth opportunity.
The IPO of a lifetime. The next NVDA. The next Tesla.
I want to slow that down for a second.
When Google went public in 2004, the valuation was $23 billion. People thought that was wild at the time. The IPO raised $1.67 billion. A lot of traditional investors thought it was overhyped.
SpaceX is coming to market at $1.75 trillion. It's raising $75 to $80 billion — the largest IPO in stock market history. Saudi Aramco held that record before. SpaceX just blew past it.
That's not nothing. That's a company ALREADY priced for success before you buy a single share.
Here's the part people keep getting wrong: they look at the last 10 or 20 years and try to find patterns.
When I was growing up, people talked about Janus funds. These mutual funds were doubling people's money. Everyone wanted in. Everyone was drawing comparisons. And a lot of people missed what was actually working because they were too busy looking for the next version of something that already happened.
SpaceX is not the next Google/TSLA/NVDA. At least not on IPO day.
Here's what actually happens with IPOs.
A lot of early investors: employees, venture funds, insiders... They are locked up. They can't sell right away. So in the first weeks, the float is thin. Retail excitement piles in. The price can run.
But then the lockup period ends.
The people who invested early at much lower prices start taking profits. That's smart! Supply floods the market. The price comes back down.
Google opened at $85. It dipped below that in the weeks after. Tesla had a rough first two years. Amazon lost 90% of its value after its IPO before it became what it became.
So yeah... SPCX might run to $200, $300, maybe $500 in the early excitement. That's possible. But if you buy at the top of that wave, you can end up watching it drift back down to $135 and waiting years to break even.
That's how people end up with a bad story about the stock market. Not because the market is rigged. Because they chased noise.
My Inner Circle is doing what we always do.
We're staying calm. Trading names that make mathematical sense. Letting the hype play out and watching for opportunity on the other side.
Here's what I'm actually watching: Tesla.
My bet is that a lot of retail traders are going to sell their TSLA to fund their SPCX position. That kind of FOMO rotation happens all the time.
If Tesla dips on SpaceX excitement, I'm happy to sell puts or spreads to own TSLA even lower.
I know this doesn't have the excitement everyone probably wants. But that's how you build wealth without the drama.
I don't want to watch you get caught up in the story.
A great company going public is exciting. It's worth paying attention to. But there's a difference between watching something happen and buying into the hype at the top of the first wave.
The lake house didn't happen because I chased a hot IPO.
It happened because I bought something simple, held it quietly, and let time do the work.
That's still how this works.
See you next Friday.
Turning knowledge into wealth,
$Maxwell
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