Taula Secures $1.75B, Pushes AUM Past $8.5B
Diego Megia’s macro hedge fund Taula has raised $1.75 billion in new cash, adding to its asset base as an expanding team of portfolio managers enhances its capacity to manage more money. Total AUM: more than $8.5 billion. That's despite -9.6% in March https://t.co/SWvC6sMdLX
Initiating Long Bond Shorts to Bet on Steepening
I am also beginning to leg into long bond shorts against a portion of this position to play for a steepener.
Deregulating Major U.S. Banks Increases Systemic Risk
Deregulating Big American Banks Makes Them Riskier: Very worthy reality check and truth telling by @MRVAssociates https://t.co/3c4yxlsI78
Regional Banks Face Looming CRE Loss Wave
$1.5 trillion in CRE loans mature through 2026-2027. Office delinquency: 12.34%. All-time high. "Extend and pretend" is over. Banks are shifting to "extend and resolve." Resolve means someone takes the loss. That someone is regional banks — the ones with the highest CRE...
Nvidia Backs Openness with $2B Marvell Investment
At GTC, Jensen Huang stressed that Nvidia was vertically integrated and also horizontally open. He’s putting his money where his mouth is on the latter with a $2 billion investment in custom chip and networking company Marvell. $NVDA $MRVL...
Buffett's Rule: Skip Hype, Seek Fundamental Value
Billionaire investor Warren Buffett's strategy? Stay away from flashy stocks, and assess fundamentals to find undervalued ones. https://t.co/qsceHG36d7
Record Margin Debt Signals Looming Market Crash
Margin debt: $1.279 trillion. Record high. 7th consecutive record. The problem isn't just the level. Debt grew 482% in real terms. The market grew 327%. Leverage outpaced the asset it was financing. That gap doesn't compress gradually. It compresses violently — through forced...
Eli Lilly Acquires Centessa for $7.8B in Neuro Push
Lilly buying $CNTA Centessa (hub & spoke R&D co) for $6.3B + $1.5B CVR. Another neuro deal. Big congrats to @Medicxi, Index ventures, General Atlantic https://t.co/jkC9dv6d3I @medicx
TRACE Reveals Massive Negative Gamma, Expect Intraday Volatility
This is TRACE, the most accurate SPX GEX map you can get. It also updates faster than any GEX map 😏. Remember: +50% of SPX flow is 0DTE and so if you are tracking gamma, you need to see that...
Key Ratios Every Investor Should Use for Insurance Companies
I just posted a TikTok video talking about the main ratios to assess Insurance Companies. :-)
Management's Costly Deals Hurt Shareholders, Create Profit Opportunities
Screw your shareholders by doing a stupid massively expensive issuance favoring a particular investor. Underperform your asset by 15%. It's unbelievably easy to make money when idiot management do these deals $MTPLF $ONDS $IONQ https://t.co/kMwFGySBfO
Biogen Buys Apellis for $5.6B, Adds SYFOVRE Sales‑linked CVR
1/Another mega M&A deal in the BioTech and Pharma sector with the acquisition of Apellis Pharmaceuticals - $APLS by Biogen $BIIB for $41 per share in cash at closing in a $5.6B deal. In addition, Apellis stockholders will also receive...
Swiss
Small-GEO satellite builder @Swissto12 forecasts $200M in rev this year, up from $140M im 2025, & positive EBITDA; business case broadening to optical relay, D2D. @esa @Viasat @SES_Satellites.https://t.co/XU73ts10er https://t.co/KkZXw8LjZ3
Explainability, Not AI Strength, Determines FP&A Success
FP&A teams don’t fail with agentic AI because the tech is weak. They fail because they can’t explain what the agent did. In this article, Olha Zotova highlights ownership, governance, and safety as an operating model shift: https://t.co/9FoPnME9ob #fpatrends #aiinfpa https://t.co/qiCRNUzAAv
FPIs Smash Record with ₹111,000 Cr March Sell
FPIs sell a record 111,000 cr. in March 2026. That's the highest ever in a single month, eclipsing the Oct 2024 94,000 cr. or so then. https://t.co/FOfZQAttkq
HFG Shifts to Meat, Cuts Debt, Holds Dividend
#HFG looks as expected. Debt down a bit which is good. Focus on meat now. Committed to progressive Dividend policy. Looks like seafood/veg might get sold off.
PETS Stable, Energy Hedged; Shift to 50% Dividend, Rest Buy
#PETS "in line" and energy costs mostly hedged. Changing shareholder return policy to 50% Dividend and the rest as Buybacks. That's perhaps a reasonable idea when shares beat up.
Senegal's Anti-Corruption Promise Shattered by Hidden €650M Debt
Following its 2025 hidden-debt scandal, Senegal tapped €650M in undisclosed borrowing to finance itself. Typical. In 2024, Senegalese Pres. Bassirou Faye ran on an anti-corruption platform. https://t.co/RynjocejJG
Three Hidden Deal Factors Could Derail Sunway Before Deadline
Everyone is watching whether Sunway extends the April 6 closing date. That is the wrong thing to watch. There are three things sitting quietly in this deal that nobody is talking about — and one of them could end the entire conversation...
Managed Money's Oil Options Net Long 50× Average
Goldman Sachs on the oil options market: “… The rally has spread beyond the spot crude market, with net long options managed money positioning 50 times higher than its 10-year average as investors bought options with strikes as high as $450...
Coupon Supply vs GDP Reveals Misleading Percentage Metrics
not a big fan of doing percentage shares of the outstanding when the outstanding is way up -- here is a chart of coupon supply as a stock normalized v GDP 1/2 https://t.co/yTbJuALpQ8
Japanese Cross‑shareholdings Shield Incumbents, Hurt Shareholders
Shareholders are supreme under Japanese corporate law, but shareholders' economic interests are not. What is the distinction? Japan is (in)famous for its webs of cross-shareholdings. Suppliers, customers, financial institutions own shares in each other, and always support incumbent management with their...
Allbirds' Valuation Plummets From $4B to $39M
Allbirds just sold for $39 million. The company was once worth over $4 billion. https://t.co/KqbYOf0TBg
Organigram's Sanity Deal Boosts EU Reach, Buy Pullback
Macro: Organigram acquires Sanity, expands into EU; Key: 93% vote, BAT financing, 68.6% LTM rev, positive EBITDA; Risks: closing risks, earnout; Trade: buy on pullback — Viktor Kopylov, PhD, CFA. More insights: t.me/si14Kopylov
Bookkeeper Shows Past, CFO Forecasts Future
Here's the simplest way I can explain the difference between a bookkeeper and a fractional CFO. A bookkeeper is looking at what happened. A fractional CFO is looking at what could happen. Same numbers, completely different lens. One tells you where you've...
Trust Your Research, Not Borrowed Judgement
Don’t borrow judgement. The reason why we spend hundreds of hours analyzing a business is to thoroughly understand it. The purpose of the research is to build confidence in our assumptions. The valuation then dictates what the return those assumptions will...
Even Legacy Founders Eventually Cash Out
Sysco just acquired Restaurant Depot from its 94 year old founder for $29B. Every founder will eventually exit their business at some point.
Payment Fees Are a Business Cost, Not a Complaint
The people surprised by this have yet to learn of the cost of doing business and just how much a payment provider does for them. $17k on $600k revenue isn’t something you complain about out. You price it in.
Private Credit Stress
Private Credit contagion on top of negative supply shock... Wall St risks directly to affect Main St. Will Bessent do "whatever it takes" to push down long-term MBS rates & govt bond interest expense? QE & rate cuts would be especially inflationary.
Goldman Predicts Retail Outflows in Direct Lending Through 2027
Good episode from Goldman on private credit. They forecast outflows from retail channel for direct lending into 2027 https://t.co/eP2DhDcZhr
Watch if France, Japan, UK Echo US Yield Drop
As we monitor global bond markets, please keep an eye on whether France, Japan, and the UK mimic the retreat in US yields. The three G7 markets have already faced pressure from bond vigilantes since 2022. Whether they follow the US lead...
USDC Accounts Now Essential for Growing Businesses
One of fastest growing financial platforms for businesses just launched USDC-based stablecoin accounts for use across treasury and payments. Pretty soon, if you're an SME, Startup or growth company, not having USDC support will be a competitive disadvantage.
Private Credit's Safety Mask Hides Looming Liquidity Mismatch
Private credit is the new ‘safe’ asset… until investors ask for their money back. Liquidity mismatch is always invisible right before it isn’t. https://t.co/M1wS4yXZhw
BDC Discounts Explained: Loans Preferred Over Bulk Share
I wanted to know if public BDCs (business development companies) are trading at such a discount, how come they don't just buy their shares in bulk, instead of making new loans in private credit market? @LeylaKuni's answer was very revealing. https://t.co/7N1vWdkr6W...
Travel Points Valuations Overstated: Most Numbers Too High
Most Miles And Points Valuations Are Wrong — Why All The Published Numbers Are Too High - View from the Wing https://t.co/kZqGqmxFEy
16% of EasyPost Slated for Auction Amid Merger
16% of EasyPost going up for auction on April 22 according to a LI post from Ben Emmrich of Tusk Logistics. EasyPost is part of Auctane which was acquired by Thoma Romo and now in process of combining it with...
Finance Should Be Frictionless, Not App‑driven
The neobank era taught us one thing: People don't want to think about money Agentic finance takes that to its logical conclusion Zero cognitive load Zero manual intervention Zero friction We're not building better apps We're building systems that make apps obsolete
Invest Blindly? JOJO Watches Utilities, Spreads, Macro Risks
You wouldn't drive with your eyes closed. Why invest in credit without watching the signals? $JOJO keeps its eyes on utilities, spreads, and macro risk. Always. https://t.co/Ap3Tk7ZcGZ
No Risk Premium? Switch to Long Treasuries
When spreads offer no compensation for risk, you're not being paid to hold credit. Period. $JOJO shifts to long-duration Treasuries when the signal confirms it. https://t.co/GLMuxK8o97
Separate Business Account to Preserve Tax Deductions
Mixing business and personal money is how deductions disappear. When everything is in one account: • You miss expenses • You underreport deductions • You create audit risk Open a business account. This one move alone changes everything. Follow for Day 16 of the 60 Tax...
CFOs Emphasize Efficiency, Reaching 2020 Highs
The year of efficiency is back Chief financial officers at large U.S. companies mentioned “efficiency” at least once on 307 conference calls in the latest quarter as of March 26, up from 219 a year earlier and the highest level...
Capex Growing Faster Than Revenue Drives Returns
It’s not “unhappy returns”; it’s “capex is growing faster than revenue”. How it ends, depends. https://t.co/TtHGrcIFW8
US Treasury Yields Slip, 10‑year Hits 4.334%
Tplex: UST Yields moving lower today.... Dimes +24/32's 110-29 10 Yr Notes 4.334% (-10.6 bp's)
Perplexity and Fiscal AI Unite for Real‑Time Financial Data
I'm pleased to announce we've expanded our partnership between @Perplexity_ai and @Fiscal_ai. Fiscal AI's Data API now gives investors on Perplexity and Perplexity Computer accurate, source-backed financial data when performing research or vibing customized dashboards. https://t.co/UC5B9n9GmN
Powell: Fed Monitors Private Credit, Won’t Eliminate Risk
On private credit, Powell said it was a "relatively small part of a very large asset pool" that the Fed was watching "super carefully" About financial regulation more broadly, Powell said the Fed "shouldn't be trying to regulate risk out of...
M&A Spreads Surge, PRTH Hits 29% without News
M&A spreads are just blowing up! $PRTH is spread now at 29%, with no news whatsoever beyond the general market sell-off.
Unify Finance Data for Real‑time, Stress‑free Insights
Running a business shouldn't be a guessing game. SAP Business One brings financial data into one view. Real-time insights, zero stress. Schedule a meeting with me: https://t.co/ZsEwnG4p2n #SAPBusinessOne #QuickBooks #ERP $SAP https://t.co/CfOUUzMcFN
Sysco Moves Into Cash‑and‑carry with Restaurant Depot Acquisition
Big news as @Sysco announces the acquisition of Restaurant Depot. While broadline has done well, cash-n-carry distribution continues to do well & this gets Sysco into a segment that it has historically avoided. This is from last year but growth is...
Private Credit Risks Grow as DOL Targets 401(k)s
Concerns around private credit are mounting just as the Trump admin is expanding access to it Investors, lobbyists and lawmakers are now awaiting the rollout of a Dept of Labor proposal that would include alternative assets in 401ks https://t.co/2j9Bg67jIU @arappeport @nytimes https://t.co/jLIP238LNF
Fund Managers Ditch Hedges, Lowest in Eight Years
International fund managers have become so relaxed that many are no longer hedging against stock market declines. The percentage of managers who are currently hedging has fallen to its lowest level in eight years. https://t.co/P9FEnZ6gYs