Vol. I · No. 01

The Official Record

"All the trades fit to print." — by Guy Gentile

Thursday, January 1, 1970New YorkMarkets · Legal · OpinionComplimentary Edition

Public Record · Guy Gentile FINRA BrokerCheck record (CRD# 3173560)

Lead Story · Markets

Micron Capex Is Going Up, Not Down — The Only Question Is Whether It's Margin-Accretive HBM or a Classic Memory Overbuild

MU's own materials say FY26 capex is now above $25B and FY27 steps up meaningfully, with over $10B more construction spend year-over-year. Near term that's not bearish — it's proof supply is tight. Medium term it becomes the bear case the moment gross margin stops expanding with it. My framework for Wednesday's print: capex up + GM guide up = bullish; capex up + GM guide flat/down = sell the news. Plus the hidden risk nobody is pricing — TrendForce already says DDR5 64GB RDIMM overtook HBM on wafer profitability in Q1 2026.

By Guy Gentile · June 21, 2026

Opinion

Part IV — Fraud on the Court: The OIG Complaint Against the SEC Staff Attorneys Who Built the SureTrader Case in the Dark

An investigative reading of the Office of Inspector General complaint Guy Gentile's counsel drafted against the SEC: a 2015 threat letter to a Bahamian employee, an ignored cease-and-desist from Bahamian counsel, a March 10, 2016 'whistleblower' submission filed thirteen days before the SEC and DOJ both sued, a stayed federal docket the SEC kept investigating around, an executive-meeting audio recording the staff attorney did not stop, a chain of emails directing a foreign national to spy on a US citizen without a warrant, and a foreign regulator told things about Guy Gentile that the staff attorney could not back up. Named, dated, sourced.

By Guy Gentile · June 20, 2026

Opinion

Part III — The Yaniv Frantz Deposition: How the SEC's Sales-Manager Witness Was a Fired Employee Who, Under Oath, Defined Rule 15a-6 in Guy Gentile's Favor

A close reading of Yaniv Frantz's March 11, 2023 sworn deposition in SEC v. MintBroker/Gentile — the record in which the SEC's solicitation witness conceded he was hired as 'senior sales manager,' that his only prior deposition was his own COVID-related wrongful-termination suit against his last employer, that the rule Guy taught him was 'you can accept U.S. customers as long as you're not soliciting U.S. customers,' that he did not know what 'affiliates' meant when he found the program, and that his knowledge of the affiliate deals came from third- and fourth-hand hearsay from colleagues whose full names he could not recall.

By Guy Gentile · June 20, 2026

Opinion

Part II — The Dorsett Deposition: How the SEC's Star Compliance Witness Was Impeached Before He Ever Took the Witness Stand

A line-by-line walk through Philip Dorsett's February 28, 2023 deposition in SEC v. MintBroker/Gentile — the sworn record in which the SEC's former-chief-compliance-officer witness admitted he never reviewed the US solicitation rules, never read the Cadwalader memo his CEO sent him on Rule 15a-6, said US regulations 'were not my thing,' confirmed the SureTrader disclaimer was on 'every page' of the website, and acknowledged he left the company with roughly 15,000 SureTrader documents on his personal computer.

By Guy Gentile · June 20, 2026

From the Desk

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Opinion

How the SEC Rigged the SureTrader Trial: A 10-Day Show Trial Built on a Withdrawn Rule, Three Bad Witnesses, and a Jury Charge That Took the Verdict Away From the Jury

Inside SEC v. MintBroker/Gentile, the 2024 federal jury trial in the Southern District of Florida: a 1989-withdrawn interpretive statement converted into a jury instruction, a self-disclaimed 2013 staff FAQ used as the controlling definition, an SEC opening that invoked the FINRA Pattern Day Trader rule sixty-one times as if it were federal law, three witnesses with serious credibility problems, and a court that denied summary judgment in May and then directed the verdict on the elements six weeks later. Named, quoted, and sourced to the public record.

By Guy Gentile · June 20, 2026

Opinion

Is Marc Cohodes Next? After the Andrew Left Verdict, the Loudest Short-Seller on the Tape Should Be Sweating

The Andrew Left conviction redrew the line between research and manipulation. Marc Cohodes built his entire brand on the other side of that line — bullhorn campaigns, regulator phone calls, and personal pressure on the people he is short. After the Left verdict, every one of those tactics is now legal exposure.

By Guy Gentile · June 20, 2026

Markets

The PDT Rule Is Dead: I Said It Was Stupid 15 Years Ago — Now the Regulators Agree

FINRA and the SEC finally killed the Pattern Day Trader rule in 2026. I built an entire offshore broker around getting small accounts past it, took the heat for years, and said publicly the rule harmed the traders it was supposed to protect. Here is what the rule actually did, why it failed, how it pushed retail into worse risk, and what comes next now that it is gone.

By Guy Gentile · June 19, 2026

Press Release

Stocks Leak Launches: A Real-Time SEC Dilution Radar Built by Guy Gentile for Active Traders and Small-Cap Investors

Stocks Leak streams every S-1, S-3, 424B5, ATM, and shelf takedown within seconds of submission to EDGAR, scores each filing for dilutive impact, and pushes alerts to a watchlist — the same intelligence hedge-fund desks pay six figures a year for, opened to every active trader at $29 a month.

By Guy Gentile · June 19, 2026

Week in Review

Week in Review: SPCX, Iran, Warsh's Fed, and the Triple Witching That Closed the Quarter's Loudest Week

Five sessions stacked the biggest IPO in history, an interim US–Iran accord, Kevin Warsh's first FOMC, and triple witching into one tape. SPCX printed, gave back, and stabilized. Crude bled the war premium. The dot plot turned hawkish. The whole week on one page — what moved, why, and what I'm carrying into next week.

By Guy Gentile · June 19, 2026

Markets

Warsh's First FOMC: Five Task Forces, a Hawkish Dot Plot, and the Quiet Repricing of Fed Independence

Kevin Warsh held rates, abstained from the dot plot, and announced five task forces to overhaul the Fed — comms, balance sheet, data, jobs/productivity, and the inflation framework. The S&P fell 1.21%, the Nasdaq 1.34%, yields ripped, SPCX gave back 5%. Crude kept bleeding the war premium after the US–Iran signing — Brent under $77 this morning. Futures are green on the Iran print. Here is what actually happened and what the desk is doing into the open.

By Guy Gentile · June 18, 2026

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