💰 Maniac Minute: Ackman Goes All-In On Uber

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Good morning, Maniacs!

The market just roared back—5% for the S&P, 7% for the Nasdaq—and for once, we can thank diplomacy.

The unexpected U.S.-China tariff truce and a $2.2 trillion capital wave from the Middle East sent stocks flying. Producer prices cooled, retail sales held firm, and CPI posted its softest print since 2021.

And the week didn’t stop there…

Buffett trimmed his banks. Burry bet against China. CoreWeave inked a $4B AI deal. And Coinbase is fighting off a $20M ransom demand after a data breach from insiders.

Let’s dive in! 👇

Market Recap 📈

The S&P 500 rallied 5% and the Nasdaq surged 7%, sending both indexes back above pre–trade war levels.

With China tariffs now easing—down to 30% from a peak of 145%—investors welcomed the pause and turned their attention to earnings, inflation, and a flurry of global capital inflows.

The big boost?

• $200B commitment from Qatar

• $600B in deals with Saudi Arabia over five years

• $1.4 trillion investment pledge from the UAE over the next decade

The money is flowing into AI, defense, and infrastructure. Despite ideological differences, diplomacy this week looked a lot like dealmaking—with trade and mutual prosperity front and center.

Inflation data also helped calm nerves.

CPI cooled to 2.3%, the slowest pace since 2021. Producer prices fell 0.5%, the biggest monthly drop since 2020. And retail sales stayed resilient, inching up 0.1%.

But not all was rosy.

Moody’s downgraded the U.S. credit rating from Aaa to Aa1 on Friday, cutting America’s status from the highest to the second-highest tier.

While most investors seemed unfazed by the warning on growing debt and persistent deficits, the move did spark a bounce in gold, which had sold off earlier on easing trade tensions.

Gold hitting record highs

The price of gold keeps heating up. If the record-breaking year of 2024 wasn't enough, gold hit a major historic 2025 milestone by crossing the $3,000/ounce threshold!

Here are 3 Key Reasons:

1. Looming economic & political uncertainty

2. Increasing central bank demand

3. Rising National Debt - over $36 Trillion

So, could gold surge even higher?

According to a recent statement from Jeffrey Gundlach, famed American business man and investor… “Gold continues its bull market that we’ve been talking about for a couple of years, ever since it was down to $1,800.” He expects gold to reach $4,000/oz.

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Winners & Losers 🚀

From AI arms deals to tariff relief, the market handed out some big wins this week—and a few brutal losses. Here's who made headlines and who got humbled.

Winners

1. CoreWeave ($CRWV) – Market Cap: $38.5B (+31.6%)

Fresh off its March IPO, CoreWeave just made its presence felt. $CRWV ( ▲ 22.09% ) shares jumped after Nvidia disclosed a 7% stake, up from 5.2% previously. A bigger bet from Nvidia implies deeper long-term alignment—a welcome surprise for this AI upstart.

Add in a blowout Q1 (revenue up 420%) and a newly signed $4B deal with OpenAI, and the stock took off. For now, markets seem willing to overlook CoreWeave’s $12B in debt and its 72% revenue dependence on Microsoft.

2. Five Below ($FIVE) – Market Cap: $5.9B (+24.5%)

The U.S.-China tariff truce was a saving grace for Five Below. $FIVE ( ▲ 0.86% ) sources 60% of its goods from China, so the drop from 145% to 30% tariffs immediately eased cost pressures and smoothed out supply chain disruptions.

Shares jumped 21% on the news, regaining ground lost earlier this year when the company paused shipments due to soaring import costs.

3. Nvidia ($NVDA) – Market Cap: $3.30T (+16.1%)

On the back of Trump’s Middle East tour, Nvidia seemingly found a new demand pipeline. $NVDA ( ▲ 0.42% ) inked a deal to supply hundreds of thousands of chips to Saudi Arabia over five years. Plus, a similar agreement with the UAE is reportedly in the works.

Then came the cherry on top: Trump scrapped Biden’s AI export restrictions, unlocking even more international opportunity. If AI hardware becomes a key U.S. export, Nvidia's momentum may have only just begun.

Losers

1. UnitedHealth ($UNH) – Market Cap: $264.8B (-23.3%)

UnitedHealth is in full-blown crisis mode. Shares plunged 23% this week, and 53% over the past month, wiping out over $300 billion in value.

The CEO resigned abruptly. 2025 guidance was withdrawn. And now, the company faces a DOJ investigation into Medicare fraud, surging medical costs, and public outrage following the murder of a top executive.

To restore confidence, $UNH ( ▲ 6.4% ) brought back former CEO Stephen Hemsley to clean up the mess—and gave him $61 million reasons to try.

2. Fiserv ($FI) – Market Cap: $92.4B (-9.5%)

Fiserv just suffered another blow. Two weeks ago, a widespread outage at partner banks disrupted more than 60 applications—including Zelle—leaving users unable to transfer funds for hours.

This week, its CFO warned that growth in Clover, Fiserv’s point-of-sale platform, would likely slow. The reason? Most client migrations have already happened. $FI ( ▲ 4.73% ) dropped 16% on Thursday, the biggest S&P 500 loss of the day, as investors questioned whether its fintech growth story is losing steam.

What The Pros Bought And Sold In Q1 🧠

Every quarter, fund managers with over $100M in assets are required to disclose their stock holdings via a Form 13F, filed with the SEC. The latest batch, covering Q1 2025, just dropped, giving us a rare peek into the minds (and portfolios) of Wall Street legends.

Here’s what the big names were up to:

Warren Buffett – Berkshire Hathaway | Known for: Long-term value investing

• Scaled back his Bank of America stake, knocking it out of his top three holdings

• Closed positions in Citigroup and Nu Holdings

• Added to Constellation Brands, his bet on booze

• Left core bets like Apple mostly untouched

Michael Burry – Scion Asset Management | Known for: The Big Short

• Bought put options on Nvidia, Alibaba, JD.com, Baidu, Pinduoduo, and Trip.com

• Opened a position in Estee Lauder

Bill Ackman – Pershing Square | Known for: Activist investing and bold bets

• Built a new position in Uber, now 18.5% of his portfolio

• Added to Brookfield, Howard Hughes, and Hertz

• Trimmed Hilton, Alphabet, and Chipotle

• Fully exited Nike

David Tepper – Appaloosa Management | Known for: Macro-driven plays

• Reduced Chinese exposure across Alibaba, Pinduoduo, JD, and Baidu

• Bought put options on the Fossil Fuel Free ETF and Apple

• Increased exposure to U.S. tech, including Meta, Google, and Uber

• Added new stake in Broadcom, while exiting AMD and Intel

Stanley Druckenmiller – Duquesne Family Office | Known for: Big macro bets

• Took a new stake in DocuSign, now a top 10 holding

• Materially increased his stakes in Teva, Insmed, and Taiwan Semi

• Trimmed Natera, Woodward, Philip Morris, and Coherent

Whether you follow their moves or not, these filings offer valuable clues about where the “smart money” sees risk and opportunity right now.

Worth The Read 📚

🛒 Kroger caught overcharging shoppers with expired sale tags at dozens of stores. The company denies wrongdoing, but class-action lawsuits are stacking up.

💊 Trump’s executive order to slash drug prices sent pharma stocks tumbling worldwide. But how real is the threat—and which drugs and companies are most exposed?

🥪 The $100M deli fraud case ends with prison time for a father and son behind one of the strangest Wall Street scams of the decade.

📉 April data shows tariffs didn’t bite as hard as feared. Retail sales held up, wholesale prices fell, and recession talk may be premature.

📊 Recession odds plunge to 30% after the U.S.-China truce, says Apollo’s chief economist—down from 90% just weeks ago.

🛍️ Retail traders nailed the bottom after April’s tariff panic, piling $40B into stocks and turning dip-buying into double-digit gains.

🧾 GOP’s “big, beautiful bill” flops as House Republicans split on tax and spending plans.

🛡️ Coinbase says insiders were bribed to steal user data, leading to a $20M ransom demand. No funds were lost, but the breach could cost the firm $400M.

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The Week Ahead 🔍

Retail and real estate take the spotlight this week, with Home Depot, Lowe’s, Target, and TJX reporting alongside fresh home sales data. Add in PMI updates and over a dozen Fed speeches, and markets will have plenty to digest.

Monday

• Earnings from Trip.com and Ryanair

Tuesday

• Earnings from Home Depot, Palo Alto Networks, and Pony AI

Wednesday

• Earnings from TJX Companies, Lowe’s, Medtronic, Snowflake, Target, Zoom, Wix.com, and Urban Outfitters

Thursday

• Earnings from Intuit, Workday, Autodesk, Ross, Ralph Lauren, BJ’s, Webull, and Advance Auto Parts

• May S&P U.S. Services PMI Flash (est. 50.7)

• May S&P U.S. Manufacturing PMI Flash (est. 49.9)

• April Existing Home Sales (est. 4.1M)

Friday

• Earnings from Booz Allen Hamilton

• April New Home Sales (est. 0.7M)

That’s it for today! If you made it this far, you’re exactly why I do this.

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Keep stacking,
The Money Maniac 💸

DISCLAIMER: The information provided in this newsletter is for informational purposes only and should not be construed as financial advice or a solicitation to buy or sell any assets. All opinions expressed are those of the author and are subject to change without notice. Please do your own research or consult with a licensed professional before making any investment decisions.