QRA's Pause Fuels Asset Rallies, Inflates Debt
The last time the QRA mattered we pivoted from short to long when Janet decided to stop increasing coupon issuance. Every QRA since has left issuance unchanged. Tomorrow will be no different. It's suppressed bond yields from going up, stoked inflation when it was close to being killed, powered stock and gold rallies and crushed the USD. All along the debt has only grown and bills and two's have funded the government. Great outcome for asset owners awful outcome for inflation. Bessent won't EVER term out the debt despite harshly criticizing the Yellen admin for doing the same. His reasoning is rates will fall and then he can do it. That's failing to materialize. That said status quo is not stimulative.
RGS Turns Around: FCF Rising, Refinancing Could Cut Valuation
$RGS, a hair salon franchisor, is crossing the Rubicon in its turnaround. FCF inflecting, closures slowing, massive refinancing incoming. Already cheap at 12x TTM FCF. If refinancing succeeds in cutting interest, co trades at 7-8x FCF. Full pitch: https://t.co/wcFgp9Utv7 https://t.co/XKWI6URRHG
Asia and Middle East Dominate $13T Sovereign Wealth
Where the World’s $13T in Sovereign Wealth Is Held Key Takeaways 👉 Asia and the Middle East control the majority of the world’s $13 trillion in sovereign wealth. 👉 Norway alone holds over $2.1 trillion, the largest sovereign wealth fund globally. 👉 Middle Eastern...
Anthropic Launches 10 AI Agents for Finance Tasks
Work in finance? -> Anthropic unveils 10 new AI agents for the financial sector, including for drafting pitch decks, reviewing financial statements, and escalating compliance cases "Anthropic PBC unveiled a set of new artificial intelligence agents designed to handle a...
Crypto Firms Push CLARITY Act, Ban Passive Stablecoin Yields
Crypto companies including Coinbase are urging Congress to move on the CLARITY Act. A recent proposal would ban yield-like incentives for simply holding stablecoins, but allow rewards tied to spending or using them. Coinbase CEO Brian Armstrong urged the Senate...
Learning Speed Becomes Finance's Biggest Competitive Edge
#FutureReadyLive - What if the biggest risk facing finance and accounting isn’t change itself, but how fast we adapt to it? Listen in as I ask @pfinette why learning velocity may be the new competitive advantage. #FinanceLeadership #FutureOfFinance #AICPA https://t.co/oMEboWblRA
A16z Crypto Deploys $2.2B Amid Adoption Surge
Where a16z crypto’s New $2.2 Billion Fund Will Be Deployed as the Adoption Race Heats Up https://t.co/5tGKOqzcua
One Untrustworthy Hire Triggers Company-Wide Expense Audits
This happens in startups too. You let that one low trust person into the org and they filed a bunch of fake expenses? Great - now everyone has to log receipts with a paragraph explanation and every 10th needs to be...
Payers May Price Risk Pools by City or ZIP
“High-risk cities” could see double-digit PMPM growth above national averages. This means that Payers may begin pricing city-level or even ZIP-level risk pools. https://t.co/B9YFDKiXoX
Use a 351 Exchange to Tax‑Defer NVDA Holdings
Your client has $2M in NVDA they won't sell. "The taxes will kill me." Most advisors stop there. The 351 Exchange breaks the trap. Tax-deferred. ETF-based. Liquid day one. https://t.co/0ev7Bt8ru8
Financials Need Context, Not Just Raw Numbers
One thing I will never do is close someone's books and just send a P&L with no context. I see it all the time. A PDF with numbers, no email explaining what changed, no insight into what's coming, no "hey here's...
OpenAI Targets $1 Trillion IPO, Wall Street Reacts
For years, no one asked OpenAI the difficult questions. Now they're reportedly eyeing a $1 trillion IPO, and Wall Street is about to make up for lost time. 👉 More in my latest newsletter: https://bit.ly/4f2vqD1
Write Off Up to $100K When Small Startup Fails
A weird tax loophole with early stage startup investing that almost no one knows about: If you invest in a small startup that has raised less than 1M in funding And the business fails You can write off up to 50K (single) or...
HIP‑4: Transform Risk with Near‑Zero Capital
Everyone thinks HIP-4 is about prediction markets, but this is what HIP-4 is actually all about- How to create this risk transformation with as little/no capital as possible Study this holy graph of financial alchemy https://t.co/C1ofcmicB1
Standard Chartered Backs Crypto Firm GSR with $150M
Standard Chartered just staked $150M in crypto trading firm GSR at a $1B valuation. This big bank move shows traditional finance doubling down on crypto infrastructure as market momentum starts to build. https://t.co/fDXqaagRkz
Few Hospitals Rely on Gifts; Most Earn Fees
My analysis of IRS data found only 10 hospitals (out of 2,100) that received more than 50% of their income from gifts. The typical nonprofit hospital receives 94% of its income from fee-for-service payments and just 3% from gifts. This $1.3...
Buffett's Rule: Prioritize Fundamentals, Shun Flashy Stocks
Billionaire investor Warren Buffett's strategy? Stay away from flashy stocks, and assess fundamentals to find undervalued ones. https://t.co/qsceHG36d7
CVC Sells Hermes to Loomis for $433M
CVC exits cash logistics specialist Hermes in $433m sale to Loomis Read more here: https://t.co/k0F0CruFmu https://t.co/OdEex5wVol
Duol's Q1 Growth Slows, Guidance Cut
My thoughts on $DUOL Q1 2026 Revenue growth—and essentially growth across all metrics—is slowing significantly. QoQ revenue growth slowed to +3.2%, and next quarter growth is expected to be even slower. If we extrapolate this pace, the company is currently growing...
From Near‑Zero to 6%: Bond Yields Surge
In 2020, with global interest rates near 0%, Austria sold this hundred-year bond to investors. Today, the United Kingdom is offering almost 6% (5.77%) for 30 years, think about that. https://t.co/6DDMRv4cEL
UK 30‑Year Yield Peaks at 5.76%, Highest Since 1998
*UK 30-YEAR YIELD CLIMBS TO 5.76%, HIGHEST SINCE 1998 -- On September 27, 2022, the 30-year UK hit 4.99%. This was so intolerable that UK Prime Minister Liz Truss was forced to resign. Today, the UK's 30-year yield is 77 bps higher. https://t.co/NotUU2B1Gv
Bonds Under Fire, Yet Remain Reliable Anti‑Growth Asset
Man my feed is hating on bonds today. Bad takes everywhere "The death of" every portfolio that includes bonds story "Inflation B/E's" unanchored. "10 year returns on TLT" or "Global Fixed Income" negative "Why would you own bonds" Imho bonds are meh...
Peter Russo Explains Source‑to‑Pay Workflows on ServiceNow
MyPOV: here with Peter Russo talking workflows in source to pay of course. @ServiceNow #Know26 https://t.co/EdRDIqQyfd
Match Your Finance Function to Company Size for Efficiency
There are 4 stages of a finance and accounting function. Most companies are running the wrong one for the size they're at right now. On May 8th at 1 PM ET, I'm going live with Ramp during their Small Business Week...
UK 10‑Year Yield Premium Hits Growth, Treasury
The yield gap between UK and German 10-year government bonds is now nearly two full percentage points ( Bloomberg data below). While global yields are up across the board, the economic implications differ: This "UK premium" creates a bigger headwind for domestic...
RBN Raises £730k, Cuts Debt; Low Cap, Illiquid
#RBN selling a property and getting £730,000 to help lower debt. ShareScope has fwd p/e 10.2 falling to 8.2 and fwd Divvy 4.8% each of next 2 years. It's low Mkt Cap at £21m and illiquid. I don't hold.
Vodafone Buys Remaining 49% For
#VOD paying CK Hutchison £4.3bn to acquire the 49% of VodafoneThree it didn't already own, and to now have 100% ownership. Will increase debt by 0.4 times Net Debt to Adjusted Earnings.
Wolves' 2024/25 Finances Reveal Roots of Relegation
Review of Wolverhampton Wanderers' financial results for the 2024/25 season. Now a year out-of-date, but they do help understand why the club has struggled on the pitch recently, culminating in this season's relegation #WWFC https://t.co/LKBlwkekCu
Complex Group Structures Mask Losses, Reveal Profit Disparity
NSWE UK Ltd, Aston Villa’s parent company, which nets off all the intra group transactions such as selling the women’s team and real estate to itself, publishes a £96.7m loss, compared to a £17m profit of its subsidiary. Shows the...
Pension Fund Pressures QBE Over Climate Risk to Profits
Australian Ethical Investment, a pension fund with about $10 billion under management, is pressuring QBE Insurance Group over the potential threat extreme weather poses to future profitability https://t.co/ze9SW0FzsE
HSBC Q1 Profit Misses Forecasts Amid Rising Credit Losses
JUST IN: HSBC's first-quarter pre-tax profit was below estimates due to higher expected credit losses.
SWIFT Trades Surge; SIPS, Alternatives Rise Fast in Asia
SWIFT $ trades hit a high at 51%. But SIPS and alternatives are growing quickly from a very low base. Global trade risk is evolving at an exponential pace and risk managers need to be alert to the consequences both...
Grab Posts 19% Revenue Rise, Margin Expansion
$GRAB: Profitable growth keeps compounding — Q1 revenue +19%, operating margin +550 bps, net margin +1,540 bps Grab delivered strong quarter. Revenue grew 18.6% YoY to $906M, with gross profit up 19.6% and gross margin expanding to 44%. SG&A fell to 23%...
Musk Held 46.5% Economic, 99% Voting Stake in xAI
Interesting to see the latest SpaceX ownership filing indicating that Musk had a 46.5% economic stake and 99% voting stake in xAI before the merger
Announces Bid to Acquire eBay, Refuses Questions
I’d like to announce I am bidding to acquire eBay I will take no further questions about the matter.
Bond Market Flags Risk as 30‑Year Yield Tops 5%
The 30-Year Treasury yield closed above 5% today and it not far from its highest level in more than a decade. The stock market may be ignoring Iran and Inflation, but the bond market is not. Video: https://t.co/2JUqFjVZ49
Use an LLC Business Account to Avoid Crypto Freezes
Moving large crypto proceeds to a personal bank account will get flagged and frozen. It happens. The fix is an LLC with a seasoned business bank account and a private banker who knows a liquidity event is coming. Through DWP,...
30‑Year Yield Breaks 5%, War Sparks Bond Vigilantes
Today, the U.S. 30-year benchmark bond yield pierced the important 5% resistance level, ending at 5.02%. Bonds severely underperform in wartime. With the war on Iran, the bond vigilantes ride again. They will teach WARMONGER Trump a lesson. https://t.co/sNxVUqdYwF
Negative ERP Signals Stock Risk, Current Levels Near Normal
The current ERP isn’t necessarily worrisome for forward equity returns. It’s roughly on par with the pre-2000 norm, which accompanied an annualized 14.8% rise in the S&P 500. The long-term average rolling annual gain is 8.1%. Greater risk to stocks emerges if the ERP slips to the fourth quartile of historical observations – where stocks historically struggled with below-average forward returns. Prospects for this may depend mostly...
Zero‑cash Acquisition Using Full Vendor Note and Holiday
the vanilla pop structure: – boring business found off market – vendor carries 100% as note – payment holiday: 9 months – DSCR above 1.5x – personal capital: $0
Low P/E, High Debt = Value Trap
A low P/E on a debt-laden business isn't value. It's a trap with a discount sticker on it. Defensive valuation means: cheap price, clean balance sheet, real cash flows. Remove any one leg and the stool falls.
PLTR's Explosive Growth Justifies Premium Valuation
Hard to love the $PLTR valuation/multiple. Hard not to love the $PLTR fundamentals. Q1 results: +85% YoY revenue growth +16% QoQ revenue growth +104% YoY US growth +133% YoY US commercial growth +84% YoY US government growth 60% operating margins Q2 guidance: $1.8B revenues... implies +80% YoY growth FY2026 guidance: $7.656B revenues......
Small Firms Can Justifiably Acquire Larger Ones via Debt‑equity Deals
I get why people want to hate on this douchebag. But imho it's totally reasonable for a small company to buy a much much larger company with debt and equity issuance. Anyone with even a few years of...
Amazon Converts Every Cost Into Revenue Stream
That 2015 slide from Social Capital stays evergreen: Amazon “turns every cost into a source of revenue”. https://t.co/vo9HXV0drt
Acquisition Funding ≠ $1B Purchase Price
guys - a company committing to invest up to $1b in a new initiative as a result of buying a startup is not the same thing as that startup being bought for $1b https://t.co/x14A6XyVpW
Oil Drives Bond Volatility, Raising Yields
Oil's impact on the bond market I would argue that oil (blue) is driving bond volatility (orange), not the other way around. That means wider daily ranges and, given the current environment, higher yields (>volatility = higher yields). https://t.co/oUEp8B4rEQ
Treasury Yields Surge; Fed Cuts Needed to Reach 6%
Bond Market on Edge: Treasury Yields Spike, 30-Year to 5.03%, Mortgage Rates to 6.52%, as Gulf War Reheats. Which raises a question: How many more Fed rate cuts would it take in this inflationary era to drive the 30-year Treasury yield...
Clarifying Critique: Interview Lacked Balance, Not Personal Attack
I didnt make fun of Brad Gerstner. Nor was I disrespectful. He is a great investor. What I wrote is that neither the moderator of the show nor Brad made any negative comments. The interview lacked balance and was, not surprisingly one-sided. My tweet pointed...
Sofi's Strong Earnings, 16% Drop Reveal Massive Undervaluation
$SOFI just reported a stellar earnings report, yet the market went mad, and the stock fell 16%. So I created a new 2030 Valuation Model. 👇 In this report, I expand on why I have made Sofi one of my largest holdings...
Hidden Service Costs Are Eroding Your SaaS Margins
Your implementation team might be killing your margins. I’ve seen SaaS companies running -20% to -30% services margins… without realizing it. The problem? No visibility by revenue stream. Fix your SaaS P&L before it hurts your growth 👇 https://t.co/SLpqCetcCc #SaaS https://t.co/eGKhIzydp4