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Dear Reader,
When Bryan Bottarelli first showed me what he dug about a secretive project called "The Presidio Initiative"...
I admit I was stunned.
I was also concerned... "Can we even publish this?" I wondered.
For one, the research Bryan discovered involves a secret history of Elon Musk that hasn't ever been revealed quite like this before.
Second, this involves a project which originated on a former military base. It might cause problems with powerful people if we reveal too much, including the specific location.
Third, Bryan names. Lots of names.
And lastly, Bryan is making an extraordinary promise about an opportunity directly related to his research. Bryan says this "could generate as many as 410 new millionaires... per day."
That's a bold claim.
In the end, we decided to publish Bryan's research on "The Presidio Initiative"... which includes a special video you can see here.
Yours in smart speculation,
Ryan Fitzwater, CEO
Monument Traders Alliance
P.S. Make sure you check out this video now, as it's still possible we'll pull this down if the controversy becomes unmanageable.
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Apple Beat Earnings. Stock Fell.
Why does a stock fall right after it does the thing everyone claimed they needed, beat earnings?
Tonight was one of those classic moments. Apple reported fiscal Q3 results that topped expectations, with earnings per share of $2.02 on revenue of $109.4 billion (up 16% year over year). And the first market reaction was still a drop of roughly 2% to 4% in after-hours trading, depending on the quote you’re watching.
Here’s the thing. This kind of selloff is usually not about the quarter. It’s about the price people paid for the quarter.
Apple has been wearing a premium multiple. One recent snapshot puts Apple around 40.8x trailing earnings and roughly 36.9x forward earnings. That is not “cheap,” even if you love the business.
So when a company with that kind of valuation beats, the market immediately asks two slightly annoying questions:
- Was the beat “clean,” or did it include one-time help that won’t repeat?
- Is the next quarter going to keep up with what the current multiple quietly assumes?
Most investors say they want quality, durability, and cash flow. Then they buy it at a price that requires everything to go right on schedule. That’s not a moral failing. It’s just how crowded trades behave.
Now, the Cheap Test.
Business quality: Apple still passes with room to spare. The ecosystem is sticky, Services keeps expanding, and the company’s capital return machine is real. Apple even raised its quarterly dividend from $0.26 to $0.27 beginning in fiscal Q3 2026.
Financial strength: It’s hard to argue with Apple’s consistency and cash generation, but valuation is where discipline gets tested. One quick signal: Apple’s free cash flow yield has recently been cited around 2.55%. That’s a fine number for a bond-like compounder, but it is not a screaming bargain if growth slows even a little.
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