Charlie Gasparino reports live from the Milken Institute Conference in Los Angeles with the latest from his fireside chats with Florida Governor Ron DeSantis and Senator Tim Scott, plus reporting on Ken Griffin's announcement that Citadel is scaling back its $6B NYC expansion.

Bob Sloan walks through last week's S3 earnings model results, the math on Ryan Cohen's GameStop bid for eBay, the Maersk short unwind, semiconductor capitulation led by TSM, and why Figma is shaping up as a battleground stock into earnings.

• 00:00 — Welcome from Milken
• 01:14 — DeSantis, Tim Scott, and Ken Griffin fireside recaps
• 03:07 — Griffin scales back NYC expansion, shifts to Miami

• 07:57 — Florida vs. South Carolina tax race
• 17:18 — Last week's calls: AIG, Linde, Colgate
• 18:05 — Ryan Cohen's GameStop bid for eBay
• 23:59 — Shipping update: Maersk short unwinds
• 25:04 — Semiconductors: TSM and positioning capitulation
• 26:29 — Figma as a battleground stock into earnings

• 29:11 — Milken mood, Iran blockade, and Trump's resilience

Bob Sloan and Charlie Gasparino on Iran's economic collapse, Powell's basement-office off-ramp, the college sports money grab, how positioning data cuts through narratives like the SaaS apocalypse, how short positioning called the Big Tech print, the real story behind the Avis squeeze, KOSPI overheating, and the $950M mystery trade fueling corruption claims.

00:00 Opening01:16 Iran on the brink: the Strait of Hormuz, the rial at 1% of value, and why markets aren't panicking06:08 Powell's off-ramp: the DOJ investigation, Thom Tillis, and the Office Space basement plan09:39 College sports and NIL: booster clubs, seven-year quarterbacks, and Utah's $500M private equity deal21:23 Big Tech earnings: short positioning called AMZN, META, and MSFT23:44 This week's picks: long AIG, long Linde, short Colgate-Palmolive25:42 Narrative vs. positioning: trades clear instantly, narrative lags 90 days26:50 The SaaS apocalypse is wrong: S&P 1500 software flows tell a different story29:13 Avis (CAR): two funds, 70% of the float, and why this was never a meme squeeze32:14 KOSPI overheating: 4.8% short interest, Z-scores at 5–7x, S3's direct KRX feed36:25 The $950M mystery short: insider trading, mosaic theory, and the Polymarket Army Ranger42:27 Milken preview, Mamdani vs. Ken Griffin, and why NYC's budget is bigger than Florida'sLearn more about the data featured in the episode at:

www.S3Partners.com

Bob Sloan (S3 Partners) and Charlie Gasparino (Fox Business / NY Post) break down this week's biggest stories — Charlie's exclusive on the Kevin Warsh confirmation breakthrough, the DOJ rescheduling marijuana from Schedule 1 to 3, the insane Avis Budget (CAR) squeeze mechanics, signs of a bottom forming in software stocks, AMC's Battleground status and highlights from last week's CZ sitdown.

Binance founder CZ (Changpeng Zhao) joins Charlie and Bob for one of the most candid conversations in crypto. He covers the real story of Sam Bankman-Fried's desperate and erratic plea for billions, what four months in federal prison actually did for him, why Michael Saylor is a genius he can't fully explain, and why Satoshi Nakamoto should probably never reveal himself. He also breaks down his new book "Freedom of Money" — and why blockchain isn't about speculation, it's about the next great leap in human freedom.

Then: Bob runs through S3's latest short interest data — bearish setups in Abbott Labs and Truist ahead of earnings, a brewing Avis short squeeze with active longs surging from $2.9B to $11B, and shipping stocks sitting at Z-scores nearly three times their historical averages.

Charlie and Bob close with a look at headlines and discuss S&P 7,000, Brent crude at $94, the Michigan consumer sentiment collapse, and the Strait of Hormuz. And they take a moment to remember emerging markets legend Mark Mobius, who passed away recently at 89.00:00:11 — Intro & Welcome00:00:51 — Meet CZ: Binance Founder, Author of "Freedom of Money"00:01:55 — From Bloomberg to Bitcoin: CZ's Origin Story00:03:22 — Tokenization, Larry Fink & the Future of Global Markets00:11:32 — CZ's 3–5 Year Crypto Roadmap: Stablecoins, RWA & Lending00:13:10 — The Core Idea Behind "Freedom of Money"00:15:27 — Selling His Apartment to Go All In on Bitcoin (2013)00:18:28 — The SBF Story: A Dodgy Call & Shifting Billions00:21:18 — MicroStrategy, Saylor & the Digital Asset Treasury Model00:23:32 — Quantum Computing: Real Threat or Marketing Hype?00:25:28 — Who Is Satoshi Nakamoto? CZ Weighs In00:27:51 — Four Months in Prison: What CZ Learned00:30:32 — Will CZ Return to Binance?00:32:21 — Charlie & Bob React to CZ00:38:43 — S3 Data: Abbott Labs, Truist & the Avis Short Squeeze00:41:48 — Russell 1000: Shorts, Passive Money & the $38T Buffer00:42:52 — Shipping Stocks at Record Short Interest Z-Scores00:44:50 — Headlines: S&P 7,000, Brent at $94 & the Iran Blockade00:46:22 — Michigan Sentiment at Historic Low — Media Doom vs. Reality00:51:34 — RIP Mark Mobius & Sign-OffFor more information about S3 data visit S3Partners.com

Charlie Gasparino and Bob Sloan break down what's really moving markets as the Straits of Hormuz situation unfolds — and why the algorithmic bid is masking genuine geopolitical risk. Charlie makes the case that Iran's fractured leadership and frozen economy put time on America's side, and calls out the media's framing of the conflict. Bob digs into S3's latest positioning data on CoreWeave, Oracle, and Blue Owl, where the numbers tell a very different story than the headlines.Plus: the Kevin Warsh Fed chair timeline, why timing the market is a fool's errand, and why Bob says don't panic.── Key Moments ──00:21:57 – Charlie on media, Iran, and investor advice00:37:20 – Bob on CoreWeave: passive absorbing the shorts00:45:21 – Bob on Oracle: the data reveals a bottom forming00:47:37 – Bob on Blue Owl: short interest is actually declining── ABOUT S3 PARTNERS ──S3 Partners is the #1 independent short interest data provider on the Bloomberg network. Real-time positioning data on stocks, ETFs, and fixed income — long and short.Learn more: s3partners.comSubscribe for new episodes every week.

CoreWeave just closed the first-ever investment grade GPU-backed financing deal — $8.5 billion. Does that reset the private credit panic, or are the shorts still right? Charlie Gasparino and Bob Sloan of S3 Partners break down the data.

This week: federal investigators are circling the prediction markets, GLP-1 drugs are quietly crushing consumer staples short interest is surging in Coke, Colgate, and Campbell's, and 10 of 11 Russell 3000 sectors are running above their one-year short interest average.

00:00 - Intro17:34 - Prediction markets under federal investigation27:39 - CoreWeave's $8.5B GPU-backed deal & what it means for private credit38:59 - Shorts target Coke (KO)40:43 - Campbell's battleground (CPB)44:53 - Russell 3000 sector breakdown

Follow S3 Partners on Bloomberg Terminal for real-time short interest data. New episodes every week.

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The Straits of Hormuz, private credit marks nobody believes, Software Shorts, Battleground Stocks, and a Coinbase setup that traders need to see. Bob Sloan of S3 Partners and Charlie Gasparino dig into the week's biggest market themes — from the exec who didn't know he was being taped, to why CoreWeave is the ultimate stress test for the entire AI trade.

00:00 - Intro

31:49 - Blue Owl

33:26 - Coinbase

34:59 - UiPath and Software

45:45 - Battleground Stocks

S3Partners.com

Bob Sloan and Charlie Gasparino are joined by Jack Devine — former CIA Worldwide Operations chief and founder of the Arkin Group — to break down the geopolitical fallout from U.S. strikes on Iran. Devine argues that regime change from within is unrealistic and that a transactional deal capping Iran's nuclear ambitions is the most achievable outcome, drawing parallels to the Venezuela model. He and Bob connect the dots to markets, warning that headline-driven commodity trading is dangerous in a fog-of-war environment, before closing with S3's short interest-driven picks: Adobe (bullish) and Dollar General (bearish) into Thursday earnings, with shipping stocks and Hang Seng tech names also on the radar.

00:00:00 - Intro & Sellatus Sponsor Read

00:03:06 - Guest Intro: Jack Devine, CIA & Arkin Group

00:04:00 - Iran: Where Are We in This Conflict?

00:07:32 - Strait of Hormuz & Oil Market Risk

00:10:03 - Intelligence vs. AI: How to Get Ahead of Headlines

00:12:16 - Regime Change: What It Actually Takes

00:21:31 - What Does Victory Look Like?

00:28:26 - The Middle East in a Better Place?

00:35:17 - Putin's Missed Opportunity & American Power

00:43:09 - S3 Actionable Picks: Adobe & Dollar General

00:44:51 - Shipping Stocks & the Hormuz Trade

00:46:30 - Chinese Stocks & Hang Seng Tech 00:49:32 - Wrap-Up

CoreWeave might be the most important stock in the market despite being a $42B market cap company. They have $30B in GPU-backed debt, and the stress test for the entire AI infrastructure boom. If it works, it validates a trillion dollars in AI spending; if it breaks, it's the first domino in the most concentrated equity market in history. Plus: Maersk and Hapag-Lloyd rerouting around Africa as Middle East chaos shuts down the Strait of Hormuz, China warning on global trade routes, bond bears piling into TLT, and what Kevin Warsh's Fed means for long-term rates.

This week Charlie & guest co-host Matthew Unterman, managing director at S3 Partners, cover NVIDIA heading into earnings as the largest single-name equity short in the SPX, Hims & Hers Health as a battleground stock with shorts at a 52-week high amid the Novo Nordisk lawsuit, and a look at a list of top Packaged Food & Meat shorts.  Plus, Charlie shares the latest on the WBD deal among other headlines.