因高负债（1690 亿美元）及表外融资风险，应回避 ORCL；存在更好的替代标的。
逐段跳播
我们能听听甲骨文吗？甲骨文。甲骨文我长期以来非常害怕，因为我认为它们会把自己搞垮。如果OpenAI倒下，它们会跟着一起倒。所以，我的甲骨文在哪？甲骨文不在前200名里。甲骨文，这可能是最后一个了。
我们来看。我最大的遗憾之一，我在Patreon上说过，我要做空它，就在这后面，我想，当它们飙升到330的时候。我准备好做空了，但我害怕AI革命会继续下去。那是个巨大的错误，因为那是我一生中最干净利落的做空机会，我错过了。
我没做。我害怕了。现在，我只是不知道。我担心它们的债务。非常担心它们的债务负担。永远先看财务。它们在增长。它们在算力上赚取更多利润。利用率是97%，但它们有大量表外融资，增长得像野草一样。
估值便宜，但这就是问题所在。1690亿美元的债务。不好。所以它们的债务远多于收入，这对我来说总是很吓人。你知道，为什么要跟甲骨文纠缠，当你可以直接买美光、Marvel、SKHEX、ALAB、特斯拉或SpaceX等等。
所以K Coyote，跳过它。现在外面有那么多好公司。这个名单上的随便挑。
can we hear about Oracle, please? Oracle. Oracle I was very afraid of for a long time because I thought they were going to blow themselves up. If OpenAI went down, they take them with them.
So, it's Where's my Oracle? Oracle is not in the top 200. Oracle, this could be the final one. We do. Um, one of my biggest regrets, and I said on Patreon I was going to short it way back here, I think, when they spiked up to 330.
I was ready to short, but I was afraid of the AI revolution that I continue going. That was a huge mistake because it was the tearest short of my life and I missed it. I didn't do it.
I was afraid. Uh, right now it's just I don't know. I worry about their debt. Very worried about their debt load. Um, always financials first. They are growing. They're making more margin on their compute.
It's 97% utilized, but they got a lot of offbalance sheet financing, growing like a weed. Um, valuation cheap, but this is the problem. 169 billion in debt. Not good. So they do a lot more debt than they do revenue, which is always scary for me.
You know, why why mess about with Oracle when you can just buy Micron or Marvel or SKHEX or ALAB or Tesla or SpaceX, etc. So K Coyote, skip it. There's so many good companies out there right now. Shoot anything here on this list.
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