Explore every episode of the podcast The Shkreli Pill

In this episode, Martin explains why he believes making smaller, disciplined bets can lead to better long-term trading performance. He discusses position sizing, risk management, expected returns, and the psychological benefits of limiting exposure, while outlining how consistent capital preservation and disciplined decision-making can improve investment outcomes over time.

In this episode, Martin explains the core principles behind his trading strategy, including how he incorporates technical analysis alongside fundamental research to identify trading opportunities and manage risk. He discusses chart patterns, timing, and position management before sharing his views on Tenax Therapeutics and Amazon, analyzing their businesses, valuations, and the factors influencing his current investment outlook.

In this episode, Martin reflects on a short position in Palantir that moved against him and discusses the lessons he learned from the trade. He also examines whether Anthropic's advances in artificial intelligence could pose a competitive threat to Palantir's business, analyzing the companies' strategies, competitive positioning, and the broader impact of AI on enterprise software and data analytics.

This compilation brings together Martin’s discussions on capital allocation, active investing, and market cycles. Across a range of clips, he explains why he believes actively deploying capital into high-conviction opportunities can outperform passive investing during periods of market excess and subsequent corrections. The episode also covers portfolio management, valuation, risk control, and the principles he believes are most important for navigating speculative markets and preserving long-term returns.

In this episode, Martin discusses adding to one of his investment positions and explains the reasoning behind increasing his exposure. He also analyzes Bloom Energy, Adicet Bio, Google, and Thermo Fisher Scientific (TMO), examining each company's business, competitive position, valuation, and long-term prospects while sharing the factors that shape his current investment outlook.

In this episode, Martin discusses receiving another margin call and explains how market volatility and leveraged positions can affect portfolio management. He also shares his perspective on Micron's recent decline, analyzes Amazon and Nebius, and reviews a clinical trial involving Tenax Therapeutics, discussing the implications for the company and the factors influencing his investment outlook across each of these names.

In this episode, Martin shares his outlook for the broader market and discusses the trends he believes investors should watch in the coming months. He also explains why he views Meta as an attractive investment opportunity and introduces the Kelly Criterion, outlining how the framework can be used to determine position sizes and allocate capital more effectively while balancing expected returns and risk.

In this episode, Martin reflects on a short position in Amazon that moved against him and discusses the lessons he took away from the trade. He also explains why he believes Meta may represent an attractive buying opportunity, shares his views on Reddit and Nvidia, and revisits his bearish thesis on SanDisk, examining each company's valuation, competitive position, and the factors influencing his current investment outlook.

In this episode, Martin discusses the market events surrounding Leopold Aschenbrenner's reported liquidation and explains how he believes Ken Griffin and Citadel became involved in absorbing or trading the affected positions. He examines market structure, institutional trading, liquidity, and risk management, sharing his perspective on how large firms respond to forced liquidations and the lessons investors can draw from these events.

In this episode, Martin discusses receiving a margin call from JPMorgan following market events related to Leopold Aschenbrenner's reported liquidation. He explains how leverage, margin requirements, and counterparty risk can affect investors during periods of heightened volatility, while sharing his perspective on risk management, portfolio construction, and the lessons traders can learn from highly leveraged positions.

In this episode, Martin discusses the principles he believes are essential for building long-term wealth through trading. He explains his approach to identifying high-probability opportunities, managing risk, sizing positions, and maintaining discipline, while emphasizing the importance of probability, patience, and continuous learning in developing a successful trading strategy.

In this episode, Martin discusses what he believes is Meta's primary business weakness and how it could affect the company's long-term outlook. He also revisits his bearish thesis on SanDisk, examines the cyclical nature of the memory semiconductor industry through Micron, and analyzes Nektar Therapeutics, sharing his perspective on each company's valuation, competitive position, and potential risks and opportunities.

In this episode, Martin explains the balance sheet metric he believes provides particularly valuable insight into a company's financial health and long-term prospects. He discusses how to interpret financial statements, evaluate capital allocation, and identify strengths and weaknesses in a business, sharing his perspective on why this measure plays an important role in fundamental stock analysis.

In this episode, Martin discusses the reported liquidation of a $20 billion hedge fund and the market conditions that may have contributed to the event. He examines the impact of leverage, risk management, liquidity, and portfolio construction, sharing his perspective on how large investment firms can become vulnerable during periods of market stress and the lessons traders can draw from high-profile liquidations.

In this episode, Martin joins TBPN to discuss the liquidation of investor Leopold and the market events that led up to it. He examines the role of leverage, risk management, and position sizing, while explaining the importance of situational awareness when navigating volatile markets. The conversation also explores trading psychology, portfolio management, and the lessons investors can draw from high-profile liquidations.

In this episode, Martin explains why he believes a particular investment presents a compelling opportunity and the reasoning behind that view. He also analyzes Kioxia and Microsoft, discussing their businesses, competitive positioning, valuation, and long-term prospects. The episode concludes with a lesson on property, plant, and equipment (PP&E), where he explains how to interpret these balance sheet assets and why they matter when evaluating companies.

In this episode, Martin reacts to an FDA advisory committee meeting involving Capricor Therapeutics, sharing his perspective on the discussion, the evidence presented, and the committee's deliberations. He examines the clinical data, regulatory considerations, and potential implications for the company's development program and investment outlook.

In this episode, Martin explains his approach to position sizing and portfolio allocation, discussing the mathematical principles he believes can improve long-term investment performance. He explores risk management, probability, expected returns, and capital preservation, illustrating how trade size can influence overall portfolio outcomes while sharing his perspective on balancing conviction with risk.

In this episode, Martin discusses his outlook for South Korea and the factors he believes could influence the country's market and technology sector. He also explains why he thinks investors often overestimate their edge, outlines his bullish thesis on SK Hynix, and revisits Capricor Therapeutics, sharing his perspective on the company's recent developments and investment outlook.

In this episode, Martin discusses whether the memory semiconductor industry may be approaching the peak of its current market cycle. He examines supply and demand trends, pricing dynamics, industry competition, and valuation across memory companies, explaining the factors he believes could determine whether the sector continues to strengthen or begins to weaken.

In this episode, Martin discusses why he has become more cautious on SanDisk and explains the factors shaping his outlook for the company. He also reviews Jazz Pharmaceuticals, examines Sun Pharmaceutical Industries and Samsung Biologics, and analyzes Kioxia, sharing his perspective on each company's business, competitive position, valuation, and potential opportunities and risks.

In this episode, Martin discusses recent developments involving Capricor Therapeutics and shares his perspective on the company's disclosures and outlook. He also revisits his bearish thesis on AMD, analyzes Tyra Biosciences, explains why he is constructive on Sarepta, and discusses TENX, examining each company's business, valuation, competitive position, and the factors he believes could influence their future performance.

In this archive lesson, Martin discusses investing and financial analysis, explaining key concepts related to evaluating businesses, interpreting market behavior, and making investment decisions. He shares his perspective on valuation, risk management, and portfolio strategy while answering questions and illustrating the reasoning behind his approach to investing.

In this archive clip, Martin debates an 18-year-old participant about the pharmaceutical price increase that brought him widespread public attention. The discussion explores the reasoning behind the pricing decision, differing views on drug pricing and healthcare economics, and the ethical and business arguments raised by both sides during the exchange.

In this episode, Martin discusses Capricor Therapeutics and shares his perspective on the company's patient data and related public statements. He examines the clinical results, trial design, and regulatory considerations, explaining the factors that shape his investment outlook and why he questions aspects of the company's interpretation of the data.

In this episode, Martin discusses the investing approach of Steve Cohen and the characteristics he believes contribute to long-term trading success. He also shares his perspective on managing drawdowns, controlling risk during periods of underperformance, and developing exit strategies for short positions, explaining the principles he believes are important for disciplined portfolio management.

In this episode, Martin discusses why he believes certain recent market declines should not necessarily be viewed as buying opportunities. He also shares his perspective on SpaceX, comments on HIMS and its peptide-related business, revisits his bearish thesis on Intel, and analyzes SanDisk and Vertex, examining each company's business, valuation, competitive position, and the factors he believes could influence their future performance.

In this episode, Martin discusses why he believes Tesla may continue to face downside pressure and examines Oracle, explaining why he views the stock as potentially oversold. He also shares his perspective on SPRB, Broadcom, and Google, analyzing each company's business, valuation, competitive position, and the factors he believes could influence their future performance.

In this episode, Martin debates the science and use of peptides, discussing their potential applications, limitations, and the evidence supporting various claims. Throughout the conversation, he responds to opposing viewpoints, critiques common arguments, and explains the reasoning behind his perspective on peptide research, biomedical science, and related topics.

In this episode, Martin discusses his expectations for Google's upcoming performance and shares his outlook on the company's future prospects. He also analyzes Cerebras and Sionna (SION), examining their businesses, valuations, and potential growth opportunities. In addition, he discusses Quhuo (QH), outlining his concerns about the company and explaining the factors that shape his investment outlook.

In this episode, Martin discusses Google's latest earnings results and shares his outlook for the company's future performance. He also examines ServiceNow, explaining why he believes it may represent a value opportunity, and revisits his bearish thesis on CAPR, outlining the factors that continue to support his short position.

In this episode, Martin discusses a quantitative investing approach that he uses to compare and rank investment opportunities. He also shares his perspective on Kimi K3, analyzes Sionna (SION), and reviews Biohaven and Cue, examining each company's business, valuation, competitive position, and the factors he believes could influence their investment outlook.

This compilation brings together Martin’s discussions on preparing for periods of heightened market volatility and uncertainty. Across a range of clips, he examines changing market conditions, portfolio positioning, risk management, and stock-specific investment ideas, while explaining the reasoning behind his outlook and the strategies he believes investors should consider when navigating rapidly changing markets.

In this episode, Martin discusses his expectations for the market heading into the new trading week and revisits his outlook on Micron, examining whether he still considers the stock an attractive investment. He also comments on the possibility of a buyout involving Abivax and analyzes Abbott (ABT) and Exelixis, discussing their businesses, valuations, and the factors he believes could influence their future performance.

In this episode, Martin discusses his outlook on the memory semiconductor industry and explains why he believes investor attention may be shifting toward quantum computing. He also shares his perspective on CoreWeave and PayPal, and analyzes TenX, Ultragenyx, and Evotec, examining each company's business, valuation, and the factors he believes could influence their future performance.

In this episode, Martin examines Micron's recent performance and discusses whether the company's stock has reached a cyclical peak or may be approaching a bottom. He analyzes supply and demand trends in the memory semiconductor market, competitive dynamics, valuation, and the factors he believes could influence Micron's outlook in the coming quarters.

In this episode, Martin discusses potential acquisition targets for Apple and considers how such a move could affect the company's long-term strategy. He also shares his perspective on a possible long position in Oracle, examines developments involving Stripe, and analyzes Celcuity, Electrovaya, and Adicet, discussing each company's business, valuation, and investment outlook.

In this episode, Martin discusses a sharp decline in IBM and considers what it could mean for the broader technology sector. He also provides an analysis of Lumentum (LITE), examining the company's business, competitive position, and outlook, before discussing Adobe's recent stock performance and the factors he believes are contributing to its relative strength.

In this episode, Martin provides an extended analysis of Insmed, examining the company’s commercial products, clinical pipeline, competitive position, and potential growth opportunities. He also discusses the assumptions behind the company’s valuation, the risks surrounding its drug-development programs, and the factors that could shape the stock’s longer-term outlook.

In this episode, Martin discusses recent weakness in IBM and considers whether it could signal broader challenges for other companies in the sector. He also provides a detailed analysis of Bristol Myers Squibb (BMY), examining its business, product portfolio, and valuation, before reviewing Insmed (INSM) and sharing his perspective on the company's prospects and investment outlook.

In this episode, Martin discusses a potential short opportunity involving Bristol Myers Squibb, explaining the factors that have led him to view the company more cautiously. He examines the business, product portfolio, valuation, and competitive landscape, outlining the reasoning behind his investment thesis and the risks he believes investors should consider.

In this episode, Martin discusses a company or market trend that he believes may be approaching a turning point and explains the reasoning behind his outlook. He also examines recent trading activity in Q32 Bio, analyzes Micron’s position in the semiconductor market, and reviews Agenus and Abivax, discussing their pipelines, valuations, and the factors shaping his investment perspective on each company.

In this episode, Martin discusses a market trend that he believes may be nearing its end and explains the reasoning behind that view. He also shares his perspective on SanDisk, outlines his thesis for a short position in Analog Devices, and evaluates Fable, explaining why he has a negative outlook on the company and its prospects.

This compilation brings together Martin’s discussions on how financial markets have evolved and why trading strategies that were successful in the 1990s may be less effective today. Across a range of clips, he examines changes in market structure, technology, quantitative investing, and competition, while sharing his perspective on the skills and approaches he believes are most important for adapting to modern markets.

In this episode, Martin discusses two short positions that he says have reached their objectives and explains why he is taking profits. He also shares signals generated by his quantitative investment model, highlighting two stocks that it currently identifies as long opportunities and discussing the factors behind those selections and how they fit into his broader investment approach.

In this episode, Martin discusses his view that advances in AI could fundamentally reshape the software-as-a-service (SaaS) industry over the coming years. He explains the reasoning behind this thesis, examines the potential impact of AI agents on software businesses, and shares his perspectives on HubSpot, CAPR, and Nvidia, discussing how these companies may be affected by changing technology trends and evolving market conditions.

In this episode, Martin challenges a market narrative that he believes investors should view with skepticism before explaining his reasoning. He also analyzes Analog Devices (ADI), discusses his bullish outlook on Google, and shares his views on Oracle and Palantir, examining their valuations, competitive positions, and the factors influencing his investment outlook for each company.

In this episode, Martin shares the long positions currently in his portfolio and explains the investment thesis behind several of his holdings. He also discusses why he believes Samsung has significant upside potential, and comments on a LinkedIn post by the Sellas Life Sciences CEO, examining how it relates to the company and investor sentiment.

In this episode, Martin discusses the market activity surrounding CAPR and shares his perspective on legal action related to the company. He also analyzes Moderna, Adobe, and CRISPR Therapeutics (CRSP), examining their valuations, competitive positions, and future prospects while explaining the factors influencing his outlook on each stock.

In this episode, Martin discusses what he believes Samsung’s recent developments reveal about broader challenges facing the semiconductor industry. He also examines Adobe’s valuation following its recent decline, shares his views on whether the stock has become oversold, and reviews Acadia Pharmaceuticals (ACAD) and Denali Therapeutics, evaluating their businesses, pipelines, and investment outlooks.