Finance Social Media and Updates
Finance Social Media and Updates
Finance Pulse
EMAIL DIGESTS
Daily
Every morning
Weekly
Tuesday recap
EMAIL DIGESTS
Daily
Every morning
Weekly
Tuesday recap
A month ago, I asked a GP of a $180mm AUM fund who has done 16 acquisitions how they find attractive $1-5mm EBITDA cash-flow businesses: "I truly believe our secret sauce is sourcing. If you asked us to pinpoint the one thing that maybe makes us successful, it's sourcing... how much we do it and how we do it. We do all the things that you just described: we monitor all these companies, we go to the conferences, we organize events. We do all that. But on top of it, we really, really live on top of each other to constantly source. We have this CRM, but the CRM is sort of a way for us to almost police each other - have you checked in with that company, can you go and get an update, enough time has passed, should we push a little bit harder there? And so the team works really, really intensely together on that."
I'm not supposed to give investment advice, but compliance has never said I can't suggest overweighting US Treasuries :) Tinderbox Seeking a Spark: US Treasuries vs. Gold A basic factor may be all that's needed to spur some reversion from the...
NEW ODD LOTS: This is what investment bankers actually do all day. @tracyalloway and I talk to Scott Bok, former longtime CEO of Greenhill & Co, to understand better what the industry does and why companies pay up for their services https://t.co/bLORIQJ8Oq
Gonna be interesting to see what happens to all these fintechs that are chartering banks, which are commonly valued on a price/book basis (rather than imaginary startup metrics, like rev multiples or MAUs)
In 532 years, we went from quill pens to quantum computers. The system businesses use to understand their own finances? Unchanged.
$OWL hit all-time lows today after record redemption requests. The credit business deserves every bit of this. But Blue Owl also has a GP Stakes business and a real assets business that have zero direct connection to software loans or BDC redemptions. Ran...
The week ending Wednesday was the first in six weeks that foreign central banks did not draw on their custody holdings (Treasuries and Agencies) at the Federal Reserve. In fact, their holdings increased by almost $3.3 bln. See https://t.co/VPY5kkVh5i
Bond Vigilantes are repricing yield curves worldwide as oil shocks reshape inflation expectations. Global spreads reveal where markets see the biggest shifts ahead. 🟢 Open https://t.co/ntInn7MIg4
🔹Be careful: the forward curve is not a forecast. It has rarely matched actual realized prices. For example, if you assume the December 2026 futures price reflects where the market will actually be at that time, you’re to be...
Most hospitals don't know their costs. Things I've asked for that made them roll their eyes : A BOM for surgeries P&L for each insurance carrier P&L for Medicaid or Medicare business Why do they need consultants for everything. ...
JUST IN: Tether's pushing to finalize a fundraising round at a $500 billion valuation, according to The Information.
"The borrower is slave to the lender." That verse lives in my head — and it shapes everything about how I work with clients. I will never let someone go into debt to work with me. Period. If the numbers don't support...
Bond traders are the least bearish in 10 years ahead of tomorrow’s jobs report: BMO survey. Just 24% of respondents saw the next 15 bp move in 10-year yields as being higher, the lowest since Nov. 2010. Most see the...
an invoice at 30 days has a 95% chance of being collected in full. at 60 days it drops to 70%. at 90 days, 45%. at 120 days, 20%. every day an invoice ages, money evaporates. companies that start collection efforts after...
Blue Owl's non traded BDC, OCIC, received redemption requests for 21.9% of the fund. Is it cooked? No, it'll be fine. Here's why: 1) Portfolio turnover and 5% quarterly tender - OCIC tenders for 5% of its fund each quarter (20% per annum),...
LIVE - Buying a Business? What You NEED to Know First with Chris Papin https://t.co/2ry1qMoroe
Wild. Perplexity Computer is now a tax accountant. Select "Navigate my taxes" on Computer and it guides you through your entire federal return. The AI takeover of white-collar work is moving faster than anyone predicted.
The Economist: "As private-credit funds’ woes intensify, they will raise the cost of borrowing for firms across the economy, at a time when the Iran war is weighing on companies’ margins. The cost of debt in public markets has already...
Stop trading with Excel. Start trading with Python. Portfolio optimization is literally 4 lines of Python code:
They’ll hold a meeting, realize they can’t open it if the US couldn’t, & then just agree to pay Iran in CNY… …and the easiest/only way to secure CNY is by buying physical gold in USD and selling that gold to...
One of my main themes since the rate reset in 2022 is that the Fed model is “back.” The Fed model, popularized by Alan Greenspan during the 1980’s, holds that when the risk-free rate (Treasuries) is competitive with risky assets...
Blue Owl Credit Income (OCIC) with 21.9% tendering for redemption and Blue Owl Technology Income (OTIC) with 40.7% tendering for redemption makes sense as both have publicly-traded "sister" funds that trade at large discounts to NAV: Blue Owl Capital $OBDC trades...
NEW EPISODE: Bloomberg's @JSeyff returns to the show to break down major developments in the ETF world. Who's holding through the 50% Bitcoin crash. What Morgan Stanley's filing means for the space. And why gold ETFs beat Bitcoin...for now. Streaming wherever...
She dropped a 600-word equity research note in 2007. It erased $369B in market cap, ousted a CEO, and made her a Wall Street legend.
Monument Bank isn't just tokenizing deposits for its own clients. It's packaging the entire blueprint - legal, regulatory, technical - as a BaaS platform for building societies. First client: Ecology Building Society. From interest income to recurring SaaS fees. Details https://t.co/JGUF1elkZI
On the Julia LaRoche show 1 week ago I predicted the next round of Private Credit redemption requests would be a multiple of the last one (which led to gating in some cases). Check out today’s headlines.
Charlie Munger famously said: "every time you see the word EBITDA, you should substitute the words 'bullshit earnings'." He's half right. (yah look at me contradicting the eternal god of wisdom) But for real investors mess up when they try and use EBITDA...
CoreWeave just borrowed $8.5B using AI chips as collateral. Larger than the GDP of 40 countries. AI compute is no longer an expense. It's a financial asset. Every AI infrastructure decision you make now has balance sheet implications.
Gilts are to the sitting UK government what Spoos is to Trump; the game will continue until either market says no more.
This dude is basically running his hedge fund as a 5x Ultra ETF on oil, and if he blows up, he just restarts again with the exact same model. #scenes.
Dev Kantesaria on not investing in $META and Big Tech "I was never happy with the capital allocation of these big tech businesses... it doesn't have the predictability that we like to see."
Wow, borrowing costs on Oracle data center projects have widened to as high as S+450 $ORCL is IG. The data centers being built for Oracle are pricing like high yield.
Why aren’t any of these at risk hospitals publishing their full accounting so everyone can see where they spend their money ? All but one group of hospitals that I have looked at potentially investing in, spend so much on consultants...
A good interview we did 18 months ago with Anthony Deden: "The reason we own gold as a reserve asset is rooted in something fundamental. What makes gold compelling are the risks we do not take by owning it. No...
US Stocks Only Fans don't get it, but The Bond Market does It's called Global #Quad3 Stagflation with a breakout in Bond Yields https://t.co/LfjSg2suV3
$BILD.V is a “boring” flooring roll-up led by a CEO who understands capital allocation. While the housing sector is weak, co is acquiring assets at 1–2x EBITDA. In 2–3 years, it could be trading at a 13–15% FCF yield, with further roll-up...
Now throw in double memory (DRAM) costs, double energy construction (diesel) costs, not in my back yard impact. * $CAT is investing aggressively to expand. Capex juiced, $3.5B planned for 2026, +25% YoY) specifically to boost capacity.
Another standard-looking activist headline, but for those in the know, this situation runs a lot deeper. I’ll explain. Elliott is asking shipping firm Mitsui OS&K for better cash returns to shareholders. Quite a standard approach for activists everywhere, and Japan is...
Juniper Networks revenue ramp from 1998 to 2000 was a sight to behold 0 > 4m > 102m > 673m With 22% net income margin @vkhosla cooked https://t.co/jsIBekI6Wy
Figma holds two stock price records: 1. Biggest "IPO pop" of major IPOs (or any SaaS company) since 1999 2. Largest subsequent loss from the IPO pop after 6 months (see thread) https://t.co/Z7h6AnLHkI
$EVO to distribute 100% of excess cash to share repurchases "The board has decided to distribute 100 percent of excess cash, exclusive to any M&A activity. The distribution of excess capital will generally be done through repurchase of own shares." - 2025...
Boston Chicken redux. Boston Chicken parent lent money to franchisees; that money then did a U-turn and became fee income to itself. So they effectively transmuted their own capital into income, which of course Wall Street loved, until it turned...
is there a reliable metric on the price of secondary shares for a big startup like OpenAI?
This ARR dashboard is one of our best selling templates at $63. It tracks 20+ SaaS metrics at monthly, quarterly, and annual granularity. Today you can have it for free 👇 https://t.co/U664G2r5QL I manage 35 to 40 SaaS startups as a fractional CFO. And I...
Dimension Energy announces $650 million in new financing for community solar #energysky -- via pv magazine usa: https://t.co/yNAppIapKQ
After years of resisting industry norms, we’ve decided to modernize @PermanentEquity. Going forward, we will charge: a 2% management fee on committed capital a 2% management fee on invested capital a 2% management fee on appreciated capital a 1% transaction fee a 1% monitoring fee a 1%...
"Don Corleone, I am honored and grateful that you have invited me to your daughter's wedding. And I pledge my ever-ending loyalty." — Luca Brasi The big story beneath the story of OpenAI's $122 billion at an $852 billion valuation is...
It’s worse than that, @polymarket: a lot (most?) of OpenAI’s new funding is *contingent* money, not guaranteed. No wonder people are getting skittish about OpenAI’s secondary market shares. OpenAI may well become the biggest flameout since Enron.
The US Bond Market has now been in a drawdown for 68 months, by far the longest in history. https://t.co/iK6GQkwPgq
S&P 500 Information Technology forward P/E has declined from a peak of 32x in 2025 to 20.9x, now nearly in line with the overall S&P 500 at 19.9x forward P/E. data from Yardeni Research. Investing
