Gilead's $3.1B Deal Expands ADC Portfolio
Gilead continues M&A surge with $3.1B deal for ADC specialist Tubulis https://t.co/xEMXvDq2LL by @gwendolynawu $GILD #biotech
WNBA Valuations Surge: $250M Expansion, $325M Team Sale
New data point on the WNBA's explosive growth: $250M: expansion fee 9 mos ago for CLE, DET, PHI $325M: valuation where Tom Gores selling up to 60% of DET team Details 👇 via @Sportico. 🏀💰 https://t.co/MCzrGGpT52
IMF Should Fear Capital Flight From US Markets
FWIW - If America is blamed for higher prices and shortages around the world, the flight the IMF should be most concerned about is out of American capital markets headed back to domestic economies.
KAI: Durable, High‑Margin Supplier Now At Attractive Valuation
$KAI is a mission-critical industrial supplier getting cheaper. With two-thirds of revenue coming from recurring parts and services, this is a durable, high-margin business trading at an attractive price. Pitch by SouthernSun Asset Management https://t.co/Aoh5GLtd0F
Major Firms Target 2028 for Full Tokenization
March 2024 Domino Theory predicted Genius Act before proposal existed. August 2024 reversal prevented until infrastructure ready. RLUSD launched, more XRPL stablecoins coming. Swell 2025: State Street, BlackRock, Fidelity gave 2028 full tokenization timelines.
Oil Price Hikes Supercharge Devon Energy’s Cash Flow
When oil rises, shale cash flow doesn’t just grow — it accelerates. 👇 $DVN Devon Energy 851k boe/d with $1.5B quarterly operating cash flow. Capex already normalized for flat growth, so upside flows directly to FCF. Variable dividend model amplifies returns. Trades...
Dimon Warns Private Credit Market on Brink of Collapse
The dean of America’s banking system, Jamie Dimon, warns that the $1.8T private credit market rests on grounds that become more shaky with each passing day. Defaults are rising. Risky loans are piling up. PRIVATE CREDIT MAY BE THE NEXT DOMINO TO...
Rising Global Debt Threatens Growth, Sparks Inflation Risks
Jamie Dimon: "Global deficits are significantly elevated, particularly during what has been a relatively healthy global economy and, until recently, a time of peace—the deficit globally is at an extremely high 5%, while global sovereign debt is at all-time highs....
Wells Fargo Ups RDDT Forecast, Target $100B Valuation
$RDDT -- analyst at Wells Fargo just raised their 2026 Q1 estimates and 2026 full year estimates for $RDDT after channel checks with "larger brand ad partners" This is from me... With continued platform growth, better monetization and bigger data...
Analytic Wealth‑floor Costs for Regime‑switching Portfolios
New paper: Dynamic Mean-Variance Portfolio Allocation under Regime-Switching Jump-Diffusions A wealth floor is a barrier. A market crash is a jump. Result: analytical terminal wealth densities, floor protection costs & de-risking glide paths - all analytic https://t.co/jbT1nAqw5M https://t.co/LkGMSr7G8n
Morgan Stanley's Bitcoin ETF MBST Launches on NYSE Tomorrow
Morgan Stanley Bitcoin ETF $MBST going effective tomorrow looks like, Wed 4/8, via NYSE listing notice. https://t.co/n95IKdbefU
Buy When Five‑Year Earnings Valuation Doubles Current Price
François Rochon on valuation "Our valuation discipline is simple. We estimate what we believe a company can earn in five years and then apply the P/E we think the market should give it. If the resulting price is at least double...
PLD Space Secures €30M Debt, Aims First Orbital Flight
Spanish launcher startup @PLD_Space secures EUR 30M ($34.6M) venture debt facility from @EIB, bringing total funding to $438M. PLD is targeting 1st orbital flight this year from Europe's @EuropeSpacePort. @esa @defis_eu @aee_gob. https://t.co/gp12v7W6YI https://t.co/vKQAUHfGZS
Kwong Decision Opens Refund Claims for Penalties, Interest
“…the Kwong decision suggests that taxpayers should reevaluate penalties and interest previously paid and consider filing refund claims targeting those amounts, even when the underlying tax liability itself is not in dispute.” Kwong Opens New Path for COVID-19 Refunds https://t.co/6OGToPBe1j...
M&A Surge: Blackstone Deal, SCII LOI, Two $200M IPOs
Today's M&A and SPAC notes $HOLX / Blackstone / TPG deal closed $SCII entered LOI with a payments technology company $ACGCU $200 million IPO $AACPU $150 million IPO https://t.co/094cl5qlvH
AI and ERP Transform Private Market Operations
Private markets are shaped by software, networks, and reinvention. On Investment Management Operations, Scott MacDonald speaks with Henry Ward of Carta on building the ERP for private markets, navigating pivots, and where AI could reshape SaaS. https://t.co/bPwrEO7Owl
US Spot Bitcoin ETFs Attract $471M, Six‑Week High
U.S. spot bitcoin ETFs saw $471M in inflows on April 6, the largest in six weeks
Free Real‑World FP&A Dashboard Pack for Startups
It took me 100+ client engagements to perfect the FP&A system I use today 10 dashboards and forecasting modules. Every one built from real startup work. Worth $249. Yours for free. This Friday I'm walking through all 10 and handing them to you...
Keep Revenue in the Business, Not Personal Pockets
If you pay 40%+ taxes on your app income, your business model is probably broken. Especially if you’re doing $50k MRR as an autónomo. Poor founders think: “How do I get more cash into my pocket?” Rich founders think: “How do I keep more cash...
Probability of Success Integrates Development Risk Into Biotech Valuations
Incorporating Probability of Success (PoS) is a unique aspect of #biotech valuation investors must be aware of. It tries to factor development risk into revenue and cost assumptions. Here is a table of PoS values: #learnbiotechinvesting #investing #BiotechPrometheus https://t.co/GA3LVSmWFZ
Berkshire Holds $373B—Enough to Acquire 480 S&P 500 Firms
Berkshire Hathaway now has $373 Billion in Cash, enough to buy 480 companies in the S&P 500: 😳 https://t.co/TK44SN9UsM
Big MRR Doesn't Equal Profit—Check the Bottom Line
Revenue is not profit. When you see someone doing $50K MRR... it might seem like a lot, but you have to dig deeper to see what the real numbers are.
Berkshire's Insurance Float: Free Capital Fueling Investment
Warren Buffett: "The insurance business provides us with float and float is money that we hold that doesn't belong to us. It's like a bank having deposits." "To date, with Berkshire, in the 29 years we've been in the business, it...
Tottenham's Europa Win Masks Financial Strain Amid Relegation Threat
Deep dive into Tottenham Hotspur's financial results for the 2024/25 season, when they finished a lowly 17th in the Premier League, but won the Europa League. Also takes a look at the potential impact if relegated #THFC https://t.co/KFeZMIQRiw
Musk’s Mega‑IPO Likely Boosts Tesla, Not Hurts It
It’s funny to me that the bears have managed to convince people that Musk doing the largest IPO of all time, becoming a trillionaire, and raising $75 billion for SpaceX / xAI would somehow be bad for Tesla. Musk cannot...
Prepare Now: 2026 Hormuz Shock Will Upend Budgets
We‘ve Only Just Begun in the words of Carol Carpenter. This is a long game. Risk managers need to be preparing their boards now for a traumatic 2026. Ditch your budget from 2025 and your growth targets. Run a strategy...
PC Jeweller Posts 49% FY Growth, Cuts Debt, Expands Globally
PC Jeweller reported impressive Q4 FY2026 financial performance with 32% year-on-year revenue growth and 49% annual revenue increase for FY2026. The company made significant progress in debt reduction by 23% under Joint Settlement Agreement terms and signed strategic MoU with...
Chart Reveals Dramatic Trend Despite Revenue Recognition Caveats
There are plenty of caveats to this chart (not least how partnership revenue is recognised) but this is a pretty dramatic story
Investors Prefer Inflation Swaps Over Sketchy 1‑Year TIPS
Glad folks are finally using the inflation swap.. not the often-sketchy 1yr TIPS breakeven rate... remember this chart that made the rounds in March lol https://t.co/pHxDS0B0gu
Both Bookkeeper and Fractional CFO Needed for Full Insight
A bookkeeper and a fractional CFO aren't the same thing — but you need both. Your bookkeeper keeps your records clean and your past accounted for. Your fractional CFO takes that data and coaches you on where to go next. One without...
Blue Owl's Plunge Fuels Private Credit Crisis Fears
Is this a warning sign of a private credit crisis, or just market panic? Blue Owl Capital, often considered a poster child for the private credit boom, closed at a record low as worries grow about the health of the...
Sunway's RM11B IJM Bid Masks High‑P/E Time Bomb
Everyone thinks Sunway's RM11 billion bid for IJM is just about building a "NATIONAL CHAMPION," but the underlying math reveals a brilliant trap. At an implied 46.6x P/E, this isn't a generous premium buyout—there is a ticking time bomb most investors...
Innovation Requires Production: Rethink USD Reserve for Reindustrialization
“To innovate, you must make.” -INTC CEO Andy Grove, 2011 The reality is we cannot and will not reindustrialize unless we change USD reserve status structure to a system with a neutral reserve asset instead of USTs; it’s a fundamental double-entry...
Lehane Pushes
This was part of the response when I asked Chris Lehane about The Information's reporting on Sarah Friar's concerns around spending, IPO timeline and exclusion from finance meetings:
US Corporate CDS Volumes Surge as Default Risks Rise
US corporate CDS trading volumes are hitting record highs. According to Bloomberg, traders are активно hedging against rising default risks in the corporate sector. https://t.co/1BCuqL0egW
Berkshire's Cash Ratio Spikes to 44%, Double Historic Average
Since Berkshire is an insurer, it needs a lot of cash on hand, and so ratio charts tend to be more informative than nominal charts. Berkshire's cash amount as a share of enterprise value has averaged 24% over 20+ years, whereas...
Chaos Labs Departs, Aave Maintains Two‑Layer Risk Model
We respect the decision of Chaos Labs to step down as one of the two risk managers for the Aave DAO. We want to thank Chaos Labs for their work over the years. They have been a valuable partner to the...
Now Is Prime Time for Fresh Private Credit Capital
Quite the opportune time to be putting fresh capital to work in private credit. https://t.co/JSc6jmY0Rb
Private Credit Market Nears Size of High‑Yield Bonds
Learned alot from the annual shareholder letter from Jamie Dimon on tailwinds/headwinds to economy including perspective on Private Credit. PC Mkt is $1.8T, HY Bond Mket is $1.5T, Bank Syndicated Leverage Loan Mkt $1.7T. Total IG Bond Mkt...
Saylor Adds 4,871 BTC, Total Now 766,970
Michael Saylor has purchased 4,871 $BTC. Purchase price: ~$67,718. Strategy now holds 766,970 BTC ($53.3B) on its balance sheet. https://t.co/D0CDA5Lwsm
TNR Gold Secures $4.2M Strategic Investment From Altius Minerals
TNR Gold $TNR.V $TRRXF Welcomes CAN$4.2 Million Strategic Investment by Altius Minerals by @newsfile https://t.co/vU3z2oZC7L
Saudi, Qatar, Abu Dhabi Fund 30% of Paramount‑Warner Deal
About 30% of Paramount's $81B takeover of Warner Bros. Discovery is financed by the sovereign wealth funds from Saudi Arabia, Qatar and Abu Dhabi—three countries attacked by Iran since the U.S. started its latest Middle East conflict. https://t.co/mOjqkF3fza
Fiscal Now Integrates with Claude for Instant Financial Data
Fiscal is now an official Claude Connector. 🥳 Get our structured data content into Claude with one click of a button if you have the API & MCP plan. Fiscal is now officially partnered with most frontier labs to deliver accurate &...
Commodity QIS: Hidden Engine of Systematic Returns
Commodity QIS: An Under-Appreciated Source of Systematic Returns? (S7E29) In this episode I speak with Faheem Osman, Managing Director and Global Head of QIS Structuring at Macquarie Group. Faheem has spent nearly two decades inside major investment banks — first at Citi,...
Dimon Warns AI, Wars Test US, Calls for Freedom
JPMorgan Chase CEO Jamie Dimon warned that global conflicts, economic uncertainty and rapid AI disruption are testing the U.S., urging a renewed commitment to “freedom, liberty and opportunity.” In his annual letter to shareholders, he cited wars, inflation, trade tensions...
CEO Prioritizes Personal Bookkeeping Before Clients
CEO day ritual: I do my own bookkeeping first. Every week I review my books, categorize everything, and make sure my numbers actually reflect what's going on. Then I open YNAB and check the budget — business AND personal. Both have...
Paramount‑Skydance Raises $24B From Gulf Investors for Warner Bros. Deal
Paramount Skydance Secures $24 Billion From Saudi Arabia, Qatar and Abu Dhabi Funds for Warner Bros. Deal: Report https://t.co/pBowLfuPXc via @variety
China IPOs Surge 56% After Regulatory Easing
China IPOs jump 56% as regulator eases restrictions to drive tech innovation Funds raised on the mainland’s three exchanges in the first quarter topped 25.7 billion yuan, compared with 16.5 billion yuan a year earlier https://t.co/yJkQKKH5LK
Recurring Revenue Drives SaaS’s Future, Says Industry Veteran
Nick (@nrmehta) is the Godfather of Customer Success, which largely exists because of recurring revenue. So I asked him if he would be willing to give his thoughts on recurring revenue and the future of SaaS. I may be biased, but it's...
CFOs Must Become Bridge Officers Amid Geo‑War
The world is in a Geo War. India is not a bystander. Energy costs are surging. The rupee is under pressure. Foreign capital is moving out. Budgets built three months ago are already wrong. In this environment, the CFO cannot stay in...