The Liquidity Conference, scored.
A week of All-In sessions (June 6–12, 2026). Where a guest investor pitched a specific public name — the Best Ideas pitch competition, Bill Maris on Google, Dan Dreyfus on copper — we drop it into a synthetic $100K book at the next session's open and mark it to today, SPY-as-cash. The IPO and private-markets panels (SpaceX, Anthropic, OpenAI) and the senators' session produced no tradable calls. It's only 19 days old, so these are opening marks, not verdicts.
Presenters
| Presenter | Firm | Picks | Return | SPY | vs SPY |
|---|---|---|---|---|---|
| Oleg Nodelman | EcoR1 Capital | 1 | -1.6% | -2.2% | +0.6pp |
| Dan Dreyfus | Bornite Capital | 3 | -1.8% | -2.2% | +0.3pp |
| Bill Maris | Section 32 | 1 | +1.7% | +1.8% | -0.1pp |
| Aaron Cowan | Suvretta Capital | 1 | -2.3% | -2.2% | -0.1pp |
| Kyle Samani | Multicoin Capital | 1 | -2.4% | -2.2% | -0.3pp |
| Nikesh Arora | Palo Alto Networks | 3 | -0.3% | +0.2% | -0.5pp |
The pitches, session by session
“Google writ large. I think Google's underrated. I think it's going to be the first [ten] trillion dollar company in our life. I think they have all the assets that are needed to make [it] successful. I think people underestimate. You can be…”
“Database snowflake, MongoDB, or all these things. You need [whole] storage infrastructure. We are going to need 10 times the data stored in enterprise than we have today... it's three years. 10 times.”
“Infrastructure software undervalued... Stuff that gives you databases. You collect data into it... Database snowflake, MongoDB, or all these things. You need [whole] storage infrastructure. We are going to need 10 times the data stored in e…”
“However, if I'm Google and I don't speak for Google and I decide to arbitrarily cut the cost of tokens to 80%. I'm going to cut them. What happens to the business models of open AI and a topic at that point? Well, if you're a company and yo…”
“Well, you know, I think the copper price is easily going to double from here. I mean, I've seen molybdenum go from a dollar a pound to $33 a pound. So a double is no big deal.”
“We're going to be short the silver, for example, to build these solar panels, especially if we start launching data centers in space. These are going to consume incredible amounts of silver. Right now, the silver supply demand dynamic is we…”
“So we think the stock is a triple. Remember, Barry's bidding for the company... He is not a strategic buyer. He is a financial buyer, and he's doing it to get rich. So therefore, I think this company is now in play... if you own shares, don…”
“here are the numbers on talent. The stock today is sort of in the high 300s. If they just do absolutely nothing... These guys will be generating $50 a share of free cash flow per year... It's about seven times free cash flow. Good infrastru…”
“the business just crossed about $11 million in annualized run rate a few days ago, and it's growing more than three [x] every year. I think it's going to probably more than triple over the next 12 months... $8.8 million right now per year i…”
“The company I'm going to tell you about today is Actus Oncology, the ticker is AKTS. The company has a billion dollar market cap... We think actus could be worth $10 billion or $200 per share. If even one of their programs makes it to marke…”
A CEO talking up their own company isn't an independent idea, so it's tracked separately — but it's a fair question whether the besties putting a founder on stage is itself a signal.
Each independent pitch enters a synthetic $100,000 book at the open of the next trading day after its session and is marked to the latest close; SPY-as-cash benchmark; standard v5 sizing by conviction. Conference pitches get no follow-on calls (one entry, held). Private companies are excluded per the extraction rubric. Descriptive and preliminary — marks this early are noise, not skill. Not investment advice.