Singapore Jet Fuel Doubles, Squeezing Un‑hedged Airlines
SINGAPORE jet fuel prices have doubled to an average around $166 per barrel so far in April compared with $82 in January. Fuel is one of the three largest costs for passenger airlines (together with crew labour and capital) so the sudden increase is putting intense financial strain on airlines that do not hedge their fuel purchases (and will strain hedgers if the increase is sustained long enough):
Track Performance Drivers, Not Just Outputs, with MAPS
You track performance. But do you track what drives it? Michael Gordon challenges FP&A’s focus on outputs alone. The MAPS framework highlights four drivers: focus, energy, emotions, purpose. 💬 Which one are you not managing? 🔗 https://t.co/AMLjyEn8We https://t.co/mZegLud819
Koei Tecmo Ups Forecast on Nioh 3, Pokemon Hit
Koei Tecmo just revised their earnings forecast upward: - operating profit +16.1% higher - net profit +53.7% higher - against sales -4.9% lower KT says their Q4 did better than expected. Nioh 3 was released + their Omega Force team co-developed mega hit Pokemon Pokopia...
Russia Needs $100 Urals Oil to Close Deficit
“Russia’s ailing economy has failed to recover even as rising oil prices during the war in the Middle East have boosted the Kremlin’s depleted coffers, according to Sweden’s military intelligence chief. Thomas Nilsson, head of Sweden’s Military Intelligence and Security...
Schwab Expands Into Crypto and Prediction Markets
Charles Schwab is making moves. Getting into the crypto markets. Getting into the predictions markets 👀. Plus a world class trading platform in TOS.
Hospitals Gain Profit by Accepting All Patients
Appreciate it. A couple reasons why we disagree. Most don’t know if their commercial insured business is profitable by carrier. But that’s a topic for another day. Most hospital assets/caregivers (surgeons and some others that get...
S&P 500 CAPE Hits 40, Tops 99% Historic Levels
The S&P 500's CAPE Ratio has moved up to 40, its highest level since 2000 and now above 99% of historical valuations. $SPX https://t.co/uhUt33SCp5
AMC Secures $425M Refinancing, Extends Debt Maturities
On Friday, we consummated a highly beneficial $425 million refinancing. AMC has once again taken decisive action to strengthen our financial position by extending our debt maturities by four full years, while simultaneously reducing our annual cash interest expense. I...
UAE Holds Strong Reserves Amid Unreported Figures, Seeks Swap Line
Interesting WSJ story about the Emirates request for a swap line -- the UAE hasn't reported its end March reserves but it went into the conflict with tons of reserves and no shortage of liquid bills in US custodians 1/ https://t.co/5Q61nzi68P
Isolate AI COGS to Protect SaaS Gross Margins
Most SaaS CFOs still treat AI costs like traditional SaaS COGS. That is a mistake. The P&L math did not change. But the inputs and tracking have changed. Every prompt, workflow, and agent action adds real variable cost. If you...
Uber Poised to Achieve Cumulative Positive Free Cash Flow This Year
A very rough back-of-the-envelope calculation suggests that Uber will reach positive cumulative free cashflow since inception at some point this year.
Adaptive Bond Fund Rotates for Market Edge
Your clients don't need another bond fund that does the same thing in every market. They need one that adapts. $JOJO rotates between high yield and Treasuries. That's the edge. https://t.co/h5qCdtoVFq
CVD Equipment Nears Liquidation, Cash Hits 80% Market Cap
Not officially a liquidation, but getting close (I think). CVD Equipment $CVV agreed to sell its Stainless Design Concepts division for $16.9m, o/w $15m after taxes and fees. This will bring total net cash on the b/s at ~80% of...
Free Open‑Source Bloomberg Terminal Clone Released
This guy made a Bloomberg Terminal clone. Then open sourced it (for free). Get it here:
Japanese Mortgage Guarantor Faces Yield Impact, Low ROE Concerns
Japanese dominant independent mortgage guarantor with extremely high profit margins How they are hurt/helped by rising yields is very interesting to me Write-up from shareholder saying their ROE is too low (& they hold too much capital) https://t.co/BVNg6v8bps
Usage‑Based SaaS Overtakes Seat Model in Valuation
SaaS market has re-rated pricing models. From 2019–2021, seat-based companies earned a valuation premium for predictability. By 2026, that premium has flipped as investors increasingly prefer subscription models tied to usage, output, and AI-driven value creation. Seat-based SaaS traded above other subscription...
CEOs Ask VPs to Envision AI‑driven Headcount Cuts
Friend at ~2,000 software company just told me last week all the VPs were being asked: “Hypothetically, what could your department’s headcount look like today because of AI?” “We aren’t doing anything…the CEO is just thinking how AI could change the org...
Insiders Bet on Ag Growth at 6x EV/EBITDA
Lots happening at Ag Growth $AFN The shares dropped quite a bit on poor results and the dividend cut. The CFO recently resigned. Shreholder Plantro is publicly pushing the company to launch a full sale process, arguing the company’s latest earnings...
Quant Finance Analysts Turn Data Into Market Strategies
What does a Quant Finance Analyst actually do? Let’s break it down. 📊 They use mathematics, statistics, and programming to model financial markets, price assets, and manage risk — turning raw data into actionable strategies. 💻 Python, R, and C++ are their...
Recursive Superintelligence Secures $500M, $4B Valuation
Months-old start-up Recursive Superintelligence raises $500mn for self-teaching AI Group founded by former engineers at DeepMind and OpenAI secures $4bn valuation in deal with Google’s venture arm and Nvidia https://t.co/mvU224DyQj via @ft
Rule of 40 Shifts to Rule of 60—Adapt Now
Why The Rule of 40 is Becoming the Rule of 60 -- and What You Can Do About It. https://t.co/PN2EcIhJ8S
Undocumented Knowledge Cripples Teams When Experts Vacation
𝗗𝗮𝘆 𝟮. 𝗛𝗲’𝘀 𝘀𝘁𝗶𝗹𝗹 𝗶𝗻 𝗠𝗲𝘅𝗶𝗰𝗼. 𝗜𝘁’𝘀 𝗴𝗲𝘁𝘁𝗶𝗻𝗴 𝘄𝗼𝗿𝘀𝗲. Yesterday the file was on his desktop and the formula was in his head. Today there are 14 versions of the same file. The monthly accruals are “based on a vibe.” And someone...
Avoid Absurd Tail Risk for Sub‑SOFR Yields
I don’t think taking absurd tail risk to earn yield below SOFR is a good idea but that’s just me https://t.co/qw0D0qMyP9
Basis Trade Yields Collapse Marks End of Era
For five years, the basis trade paid 15–30% near risk-free. Options couldn't compete as yield. Then 10/10 happened. @itseneff calls it 'the final nail in the coffin.' Watch: https://t.co/kWlaB3JxRL
Banks Hide $500B Private Credit Exposure Off‑Balance Sheet
OUT NOW - @rcwhalen on banks' "considerable" private credit exposure 🏦 There's "no transparency": use of off-balance sheet vehicles to mask true exposure of ~$500B Apple 🔊https://t.co/WuiP53leku Spotify📽️https://t.co/EdCDKXfJdy YouTube📽️https://t.co/W8EybE3tOh 1/3 https://t.co/GYxCbGMeAP
Most Bond Investors See Credit Spreads Overvalued, BofA Says
BofA: The large majority of bond investors think credit spreads are overvalued $LQD $HYG https://t.co/Q8Lsx1wWCz
Master Revenue Metrics, Skip 99% Accounting Headaches
Know the difference between Billings Gross revenue Net Revenue Recurring revenue Re-occurring revenue Professional services Gross retention Net retention Logo churn / dollar churn Helps you avoid 99% of accounting BS from software companies
XRP Serves as Neutral Bridge for Diverse Stablecoins
Financial institutions will not settle in ROUSD. They will issue their own stablecoins and keep the yield. That means every counterparty is running a different stablecoin and none of them will accept each other's. XRP is the neutral bridge in...
AI-Driven Dynamic Pricing Aligns Sales and Finance
Machine learning enables dynamic pricing through demand signals and competitive data in real time. As margins narrow and volatility grows, algorithmic updates align sales and finance around measurable targets and limit manual pricing decisions. Microblog by @antgrasso https://t.co/qNFrchAIzD
Partial Payments Can Benefit Sellers in Deal Making
Why You Might Not Get Paid in Full When You Sell. And how that can actually work in your favor. https://t.co/1vSKngiMGR #SmallBusiness & Deal Making #SMB
2026 EPS Forecasts Break From Consensus Revision Trend
GS: 2026 EPS estimates have diverged from the typical path of consensus estimate revisions https://t.co/4CP8mSU3mS
Modeling Prices Sparked Quantitative Revolution Behind Medallion
“There must be a way to model the price. There must be a way to model the movement of stocks." — Jim Simons Simons reportedly said this to his partner, Jim Ax, during the early days of Monemetrics (the precursor to...
Agents Will Turn AI Into Intuitive Investment Assistants
Someone used the metaphor to me this week that chatbot LLMs are like a calculator, good at generating answers to specific questions, but you have to remember to use them. The cognitive burden of pulling your prompt off the...
Seed Managers Push SPVs to Co‑invest in Growth
There is a lot of truth in that statement. And also, many seed managers saying “wait, why don’t I also raise an SPV and invest alongside you in the growth stages.”
Speculating SpaceX‑Tesla Merger, Intel Earnings Outlook
MyPOV: Could we see a @spacex @tesla merger before the IPO, What's up with @intel ahead of earnings and more with @romainebostick @kgreifeld on #TheClose @bloomberg @business https://t.co/9QkJTVmocy
Visual Roadmaps Turn Client Goals Into Concrete Plans
When your client asks for a visual to see where she can go and you deliver a dang VISUAL plus more. You show her how many more retainer clients she needs to hit it and how that breaks down month over...
AI‑Powered ERP Guarantees Audit Trails for Regulated Finance
ERP systems with AI agents offer a clear audit trail, making them ideal for regulated industries like financial services. This predictability can be more reassuring than standalone AI. #AI #ERP #RegTech https://t.co/5CDZxYsjfj
Execute Non‑Pro Rata LME to Capture Discount, Reduce Holdout Risk
Claude, execute a non-pro rata LME capturing principal discount while minimizing holdout risk Make no mistakes
Private Credit Talk: Focus on Their Fundraising Motives
Every major player in the industry has something to say about private credit. Before you read any of it, ask one question: what are they raising, and how does this help them raise it? https://www.junkbondinvestor.com/p/private-credit-unfiltered-everyone
Spirit Airlines Seeks Trump Bailout to Prevent Shutdown
Spirit Airlines Is Asking The Trump Administration For A Taxpayer Bailout To Avoid Shutting Down - View from the Wing https://t.co/pFYiO7VbD7
Corporate Finance Lens Reveals Different Entrepreneurial Approaches
My background is in corporate financial strategy, so my perspective is shaped by how large corporations operate. That lens is different from how many entrepreneurs run their businesses.
Switch to Semi‑Monthly Dividends to Boost Stability
Strategy is proposing to pay semi-monthly dividends on $STRC, instead of monthly. No change to the annual dividend obligations or dividend rate. These proposed changes are intended to stabilize price, dampen cyclicality, drive liquidity, and grow demand. https://t.co/jHFRaDz6oP
Industrials Forward P/E Near Record Highs vs Market
The forward P/E of the industrials sector relative to that of the broader market remains near record highs. ty @augurinfinity https://t.co/XZoDHelWSz https://t.co/doqKhFeI1Y
Banks Eye Gap as Private Credit Retreats
"Banks are spotting opportunities to also step in as some private-credit firms pull back" https://t.co/gklvEZUvhu
Interest Tax Deduction Undermines Equity, Economists Warn
Interest as tax deductible. So dumb. 98% of economists agree (why subsidize debt over equity?). But everyone else hears this and thinks it’s crazy.
Carney Seeks C$1 Trillion, Invites Top Investors to Toronto
Carney has been zig-zagging the globe trying to lure investors into Canada. It looks like a big test of whether his efforts will bear fruit is coming: he's invited the world's biggest investors to Toronto in September. He's looking for...
Goldman Sachs Boosts MSCI EM Target, Forecasts 10% Upside
GS: We raise our 12m MSCI EM target by ~4% to 1750, implying ~10% upside over 12 months $EEM $VWO https://t.co/Yxz4w8EPPv
North Asia EPS Upgrade Raises MSCI EM Forecast
GS: Upgrades to North Asia EPS growth push our 2026/27 MSCI EM EPS growth forecast to 34%/14% from 23%/13% https://t.co/jK4UGxp0LY
Track Normalized FCF/Share via Long‑Term Cycle Analytics
This is a great question One of the most important output metrics in any model, in my opinion, is normalized FCF/share. There are many assumptions that lead to your FCF/share metric, including revenue & normalized margin assumptions. But quarter to quarter and year...
NVRI to Return 80% Market Cap, Remaining Assets Cheap
Large capital distribution on $NVRI is around the corner. Co will return 76–87% of market cap by mid-2026 when the sale of its major asset closes. The two remaining businesses look cheap post-distribution. Full write-up below👇 https://t.co/xF03DsgxFg