Crash Expert: “This Looks Like 1929” → 70,000 Hedging Here

Mark Spitznagel, who made $1B in a single day during the 2015 flash crash, warns markets are mimicking 1929. Yeah, just another oracle spouting gloom and doom, right?

Vanguard and Goldman Sachs forecast just 5% and 3% annual S&P returns respectively for the next decade (2024-2034).

Bonds? Not much better.

Enough warning signals—what’s something investors can actually do to diversify this week?

Almost no one knows this, but postwar and contemporary art appreciated 11.2% annually with near-zero correlation to equities from 1995–2024, according to Masterworks Data.

And sure… billionaires like Bezos and Gates can make headlines at auction, but what about the rest of us?

Masterworks makes it possible to invest in legendary artworks by Banksy, Basquiat, Picasso, and more – without spending millions.

23 exits. Net annualized returns like 17.6%, 17.8%, and 21.5%. $1.2 billion invested.

Shares in new offerings can sell quickly but…

👉 [My subscribers skip the waitlist].*

_{*Past performance is not indicative of future returns. Important Reg A disclosures: masterworks.com/cd.}

Johnson & Johnson DCF Stock Analysis.

Here’s my assumptions:

Risk Free Rate (10 Years Interest Rate Swap): 3.91%

Risk Premium (Taken from the Aswath Damodaran equity premium spreadsheet): 4.33%

Interest Rate Spread on The Risk free rate ( For the cost of debt calculation): 4%

Historical Data

Revenue growth in the last 10 years (CAGR): 2.78%

Earnings growth in the last 10 years (CAGR): -0.91%

Unlevered Free Cash Flow growth in the last 10 years (CAGR): 2.95%

Future Assumptions

End of Year FCF growth: 3%

Growth until end of 2026: 6%

Growth until end of 2034: 4%

Perpetual growth: 3%

Net Debt: 27.233B

Outstanding Stock Options Present Value Assumption: $0.005B

Restricted Stock Units Present Value Assumption: $2.425B

Stock Valuation based on these assumptions: $127

Last update 11/09/2025

All the content in this newsletter should be taken as informational content only. THIS IS NOT FINANCIAL ADVICE! Do your own Due Diligence before investing or contact a professional financial advisor.

I don’t have a position in Johnson & Johnson (JNJ) and I don’t plan to add a position in the coming days.