Absolutely I mean really, how perverse to spend all this capital on rural broadband funding so those jokers can rot their brains on Twitter and Newsmax a little faster.

Ha just scrolled and saw this by coincidence bsky.app/profile/bloo...

No concern about LT demand destruction here? I know it’s kind of a weird one, but this whole debacle really makes the case to SE Asia and Europe to move away from gas as fast as possible

Do we know yet whether Iran keeps the ability to toll the straight? Does fully open mean toll-free?

Probably shouldn’t have worked to get Republicans elected for so long then, you fucking idiot. Have you noticed how nothing you wanted to see happen in FP has worked out in your lifetime, despite hundreds of thousands of civilian deaths? How does that feel?

No growth, 350 P/E, liquidity about to sucked up by SpaceX - taking the elevator down soon IMO

You don’t have to decide! $TSM wins either way and is cheaper

Well your steelman would tell you the rules are stacked in favor of investors by preventing them from selling at the wrong time. Not quite the same, but a/o 12/31 KKR’s BDC ($FSK) rates 96% of its loans LvL1 (no issues whatsoever), but stock is down 35% YTD. If you believe KKR, that’s a fuckup.

Sure - slapping leverage on a fund that prevents you from panic liquidating at the lows juices your returns over a long enough time horizon. The PC piece itself isn’t really all that different from a regular high-yield credit fund. In theory it’s a nice middle ground btwn bonds and equities.

Just think of how much money we could have lost on calls with foreknowledge of the new, unlimited, price-insensitive demand for AWS in 2021.

Not to me, but it’s awful, especially when some of the rest of the delegation is really quite good (thinking of Van Hollen + Raskin).

Jeff Russo really pulls it all together with the score, too. What a show

100%. I’ve never seen anything like it, and I’ve seen a LOT of space scenes.

Oh, and it’s up 25+% YTD, albeit -35% L5Y - though share issuance means the EV is unchanged from 5 years ago.

Interesting short from here is $LAND, a farmland REIT already in fairly bad shape (vacancies climbing, issuing stock and selling land to keep the dividend), and where a fertilizer price spike and the effects of terrorizing immigrant workers could soon appear in the bottom line.

Oh I don’t know, maybe he can wet his diaper enough to make up the difference.

"It's much easier to get something published in JAMA or the New England Journal of Medicine if it's supportive of gender-affirming care."

Because those are the papers that are scientifically rigorous, Jeremy! This is conspiracy-brained nonsense.

Much less astounding if you try one simple trick: smoking a cigarette!

Walmart in particular is an outstanding short here. They can barely grow FCF, their customers are not going to have a particularly easy time with their household income, and they compete with a bottomless pit of capex (amzn).

This one really hit hard, great work

Yeah cost cuts on the R1 thus far have been really impressive!

Not your point but how is RIVN going to get to a positive gross profit with these things?

The Myth of Hercules Capital America’s most software-exposed major private credit firm is among the most richly valued. It also happens to be marking its software debt at 100 cents on the dollar —for now.

Have you got an opinion on Hercules? Read the Hunterbrook piece and got interested in a short: hntrbrk.com/hercules-cap...

Envious!

I was going into it as a hate listen on a long ride. Not nearly as interesting as I had hoped. He’s very defensive, yet with very little in the way of facts to back it up.

I love how the 40x multiple for other firms in the sector is seen as a bar for normalcy. Good luck with that! RKLB not exactly overflowing with profit

it’s more like the interest payments on that debt (~3.5b) will absorb most of the free cash flow that both companies currently produce as standalones (~5b), so to make it work for investors they will need to juice that number by canceling projects, layoffs, or spinoffs - and no margin to fuck up

An interaction where Mike Silva, confronted with a fact about Platner that contradicted his earlier statement, declined to respond.

This u?

The fact that the market is getting whipped around by Citrini Thought is yet another nail in the EMH.