Microcap/special situations fund. Tweeting about ideas/general market opinions w/ A LOT OF SARCASM. Tweets are not recommendations to invest in securities/fund!
Ladies if he:
- says 30 years but really has a maturity of a 7 year old
- looks better this year than in a few years
- doesn’t care about wages
- offers no real returns
- doesn’t leave anything for TIPS
He’s not your man. He’s the yield curve
We are also putting out our new Tesla model and price target. We think you'll find it a little bit more comprehensive and useful than the
@ARKInvest
model.
It is with much sorrow and regret that I must inform all of you that I still remain a committed value investor. I appreciate your concern during this difficult time. Very difficult.
Breaking news: a very overrated VC is angry at a very overrated CEO of a very overrated company because the world is finally catching on to their Ponzi scheme
I would say the most interesting (and entertaining) thing to watch is everyone in Silicon Valley that have spent the last 10 years trading worthless private paper w each other w only private valuation numbers as their data points lash out at public markets for “not getting it”
Crypto industry after wiping out most of its "investors" via monkey jpgs/worthless crap coins, zeroed out deposits @ Celsius/FTX/3AC/Voyager/Terra, bitcoin -70%, remaining players all under criminal investigations, causing a run on real banks/destabilizing economy w "told you so"
If you buy a car from us today you won’t have to make a payment until your grandchild’s college graduation because we will book it as revenue and sell off to our financing arm that is backstopped by Federal Reserve so honestly we don’t care. Don’t pay us. Take the car. Take it.
“Hey Mike! Hows the wife? Listen sorry about that Uber IPO thing”
“Oh. Tesla secondary too I guess”
“Oh right. The Lyft thing. Sorry about that. Well anyway. You’re going to love what I have for you next. Have you ever thought about adjusting EBITDA for community expenses?”
I wanted to do a thread on my opinion (and my opinion only) on what's happened to old school value investing, why its dead, and what value investing 2.0 and maybe even 3.0 looks like today. Was inspired by a
@morganhousel
talk recently to put my thoughts together.
$50b idea: a self driving mattress car that can test your blood with a single prick while you sleep. When you’re not using it it can be rented out as part of the RoboMatress fleet. I expect production to reach 500,000 next year and a million of these on the road by 2021.
My 2c. A big portion of retail/SPAC bubble of last 2 yrs is a direct consequence of SEC refusing to do anything about Elon’s funding secured/post settlement tweets. As I said then, it was a clear signal that no enforcement is coming, you can say whatever you want to pump stocks.
Most people that changed the world were workaholics. MLK, Gandhi, Hamilton, Thatcher, etc all worked nights and weekends.
But if you are not interested in changing the world, then working more than 40 hours a week is optional.
I choose to try to change the world.
.
@CathieDWood
you took a lesson from Elon’s playbook and complained to someone’s boss because you posted a shitty model + got called out on it by real professionals? Wow. You are a horrible person and deserve everything that’s coming your way from your embarrassing Tesla analysis
I cant think of a more important professional accomplishment than getting to 10,000 followers on twitter. There is nothing more important. Thank you for the 100 of you that arent a Russian bot named Svetlana that helped make this professional accomplishment happen. Cant be topped
Some year end thoughts. These are not predictions. Just thoughts.
I'm 37. Its late December 2017. 17 years ago, in December 2000, I was 20 and just finished my senior year in college. Managing our investment club portfolio. ($100k in some pretty sweet dot coms).
“The gold miner business model is to try to win the lottery every year and then use their lottery winnings to buy more lottery tickets” - John Burbank, Passport Capital, SF CFA Forecast Dinner 2012 or 2013
My years of following Tesla and
@elonmusk
have taught me a lesson that Enron was 18 years ago and today you can commit blatant non stop securities fraud in plain site, have major news outlets continuously report on it and will face no criminal or civil repercussions whatsoever
What everyone should absolutely do in this time of mostly unconfirmed rumors from the world’s most honest country is absolutely panic and tweet as much likely misinformation as possible. Your twitter acct was made for this and your followers are waiting! Get that RT finger ready!
4 requests this week for “hey I want to start trading, can you help me?” Just sending this to everyone. Also everyone should (re)read Panic by Michael Lewis
@elonmusk
@Teslatunity
@Everman
@AndyKiersz
You said your cars appreciate in value and lowered 3x prices and took an inventory write off.
You faked a take private transaction and are now forever known as a fraud.
Maybe chill out on the public victim bs. You’re getting everything you deserve.
“He takes a puff off a stale joint, exhausted from a contempt hearing and dealing with demand cliff hanging over him. With payroll due next week there was only thing he could do. With a deep sigh he texted McKenzie: ‘Hey you up?’”
End scene
“Oh you can fake a multi billion buyout on twitter and then tweet fake production and tech numbers with no consequence? Well sheeeet then my EV sustainability ESG oriented product SPAC w a trillion dollar TAM is going to grown 200% a year forever. See my one pager!”
Re: Tesla “fun fact” I started my career out as an intern in the treasury department of a Fortune 500 company and we did some amazing window dressing. This is why I think the deliveries report was worse than people realize (1/n)
What is window dressing?
A non finance post but also trying not to be political. This is the perfect time for my finance well off followers to prove that you don’t need socialism but human kindness. Don’t just order in. Give a $100 tip. Offer your not well off friends $ with zero questions asked. Be kind
So the entire beat was on reduced SG&A which has sequentially $80mm less in depreciation/stock comp and increased regulatory credit recognition, all accounting gimmicks, and all of “sustaining positive cash flow” was once again through payables extension. What a joke.
In the sea of irrelevant Tesla noise the Chief Accounting Officer leaving after 1 month and leaving $10mm equity grant on the table is a pretty big signal.
I make fun of VCs A LOT on here. And just to make sure I AM IN NO WAY SORRY. And will continue to do so. Like now. When I tell you that a VC recently confessed to me that he realized in a conversation w a household name VC partner at top 5 fund had no idea how to value companies
I don’t usually play high stakes online poker, just live, but I played in a $97,500 prize pool tourney during the Super Bowl and took 3rd out of 650. That’s my biggest online win to date.
Last week I was a judge at a stock pitch competition by top mba schools. Some highlights:
- a DCF on a semi equipment manufacturer
- 5-6% WACCs
- no one knew what ROIC is
- My fav: a bear case scenario on a levered small cap at 15% ABOVE current stock price (was down 90% in ‘08)
Imagine thinking you can win in a "crypto" arena when the visiting team is sponsored by the all time fiat great Western Union. Fiat remains undefeated.
BREAKING NEWS: My college roommate who was one of the first Model S buyers and the biggest Tesla fan boy w one of the first deposits on Model 3 just purchased ... a Jaguar iPace. Stay tuned for this story as it develops.
The biggest lie managements say on almost every call is “at this time we are showing no more questions”. The actual statement is “at this time we are showing no more questions from people we want to talk to”. There’s always queue of people who want to get on.
I use to post a lot on this account. i think "the teens" were a good time for fintwit. but seeing so many "big follow" accounts become absolute grifters scared me off and i just went back to to my small private one. im thinking of doing a once a week long form finance tweet posts
Small (official) announcement. I fell victim to non stop subliminal messages about moving to Colorado from
@NoonSixCap
and excited to share that we officially made the move this week. Excited to be here!
Sometimes mid work day it hits me how insane it is that a guy that tried to fake an $80b transaction and committed blatant fraud is still allowed to be an executive of a public company and regulators barely batted an eyelash. And then it’s back to reality oh there goes gravity.
Value investing is watching your portfolio go up in flames and crying into a pillow embroiled with “God damn it it’s trading below cash and 3x cash flow!”
I’m new to this capital markets game but collapsing equity markets led by tech and rising rates should still make it pretty easy for over leveraged, highly capital intensive, non profitable car companies that pretend they are tech companies to raise equity or debt capital right?
Tech billionaire Elon Musk surprised students by showing up at a school assembly in Flint, Michigan, and promising to take some of them for a tour of his Space X rocket factory in California.
I’ve been focusing on Tesla and Elon for awhile so maybe I’ll diversify and talk about why we have a small position in WFCF (Where Food Comes From). Its about a 2.5% position and I like to hold these as optionality plays with high risk reward ratios.
Everyone on fin twit: I’m a long term investor, with a focus on the company’s earnings potential at least five to ten years from now!
Also everyone on fin twit: I can’t believe where the market is trading on this years’ non existent earnings I feel like I’m taking crazy pills!
Every few years society is amazed to learn all over again that businesses whose sustainability is dependent on access to capital markets might not be all that great.
Less than 12 hrs from starting to accumulate a position in a new microcap ($100mm) w a 20 bp of O/S shares
@IBKR
has already restricted me from buying more and demands a written explanation if I want to sell it. Truly a shittier financial company could not exist even if it tried.
I’ll be honest. While I’m disgusted w Elon and think Tesla is worthless and have a relatively small put position, this is one of the most fun times I’ve had in this job just watching this whole thing unravel on an hourly basis. Rappers, drugs, multiple SEC investigations. My god.
I see the CEO that sleeps on the factory floor with no free time went to Burning Man, researched which beaches in Thailand British divers go to and is going on the Joe Rogan podcast tonight.
Introducing my brand new concept company Beyond Alcohol. The IPO will be priced at $50 with a modest $3b valuation. The distribution channel potential for this revolutionary organic vegan free range alcohol substitute product is limitless.