Asi de Silva, CFA
@asidesilva
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Macro based Digital Asset investing @rockdenadvisors | Previously - UBS, Diamondback, Axiom, SocGen | Not investment advice
Washington DC Metro
Joined April 2012
Big Tech is no longer asset-light. Capex is rising fast, but history shows higher investment does not automatically mean higher returns. Free cash flow and capital efficiency still matter, even if markets ignore them for a while. https://t.co/xvP5SnZsN3
csqfinancial.com
In recent weeks, the volatility in Big Tech has highlighted a core tension in today’s market. Large scale capital investment may be fueling growth, but is it creating value?...
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As the year slows down and everyone enjoys the holidays, we keep thinking about the people who made DC DAO feel alive - a community willing to share ideas, challenge each other thoughtfully, and engage across innovation and policy with curiosity and respect. As we look toward
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This is high level gaslighting. Housing prices rise 50% in little over two years during covid as the Fed prints $6tn over 2 months & rates drop to zero. And, illegal immigration causes $5000K homes to jump to $800K nationwide. 🤯 Don't treat voters like fools!
The connection between illegal immigration and skyrocketing housing costs is as clear as day. We are proud to be moving in the right direction. Still so much to do.
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Good insights on @MerenInc 3Q result👇 I see FCF yield ~ 28% based on 9M result Div yield ~11.5% Paid to wait for growth fields to🌋 Nice payback even if there's no reserve⬆️ - prod. gassier in 2025 - YTD realized crude ASP >$70 b/c of hedges #MerenInc $MER.TO $MRNFF
@deyhatemetoo @MerenInc Based on the price of its reserves its not that cheap, but if you look at the quality of the cashflows, the high margins and the fact the producing fields are operated by majors, it’s quite cheap I would say. Factor in potential upside from Venus, it becomes even cheaper.
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Lack of #diversification from the SPX is mounting. We'll only feel the effects when the tides goes out, and it will at some point. The debate is when that "some point" is, and no one really knows. All you can really do is to make sensible asset allocation decisions.
Shocking stat of the day: Nvidia now reflects a record 8.5% of the S&P 500 and is now larger than 6 of the index's 11 sectors. It is now larger than the Materials, Real Estate, and Utilities sectors combined. With a market cap of ~$5.1 trillion, Nvidia also surpasses the
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How much sucking up can one do? Maybe Bessent will punch him in the proverbial....
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Political gaslighting 👇 Taking us all for fools, and this goes for both the right and the left.
Cool. Now let’s look at Alaska, Arkansas, Idaho, Iowa, Montana, Nebraska, North Dakota, Oklahoma, South Dakota, Utah, West Virginia, and Wyoming. Twelve states vote 35% Dem. 30 GOP seats. Zero Dems. If Vance is supporting proportional representation in the U.S. House, let’s do
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English/Morikawa pairing again. Why? Maybe they play the same ball 🤷🏽 @RyderCupUSA
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The Trump administration’s top energy official said the US should look to boost its strategic uranium reserve to buffer against Russian supplies and increase confidence in the long-term prospects of nuclear power generation
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Simple yet impactful insight on #crypto token value.
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My conclusion is that the slowing housing/shelter component will keep overall CPI manageable, especially as we look into 2026. Mighty be tricky over the next few months a tariffs pass thru faster. #inflation #CPI
August CPI breakdown Core goods prices +1.5% on the year ended August (year earlier: -1.7%) (3-month annualized rate: +2.8%) Housing was +3.6% (year earlier: +5.2%) (3-m ann'l rate: +3.4%) Core services ex-housing was +3.3% (year earlier: +4.5%) (3-m ann'l rate: +4.2%)
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The country is lurching towards a bad direction. 😢😢 https://t.co/ozOpJpsDSI
wsj.com
Tyler Robinson, a 22-year-old Utah man, is in custody in connection with the fatal shooting of conservative activist Charlie Kirk at Utah Valley University. Follow along for live updates.
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From today's WSJ editorial on changing senate rules on approval of executive branch nominees. Notice the trend? Fourth turning trend! Gridlock will continue to worsen as we focus on what's best for me now vs what's best for the collective and the long term.
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Very interesting thought process Hard to argue against. Immigration has hit a wall, the economic response will be difficult to predict. Tread carefully with you models based on the past few decades, is Jim's argument.
Discussed in the interview below. --- How many jobs does the US economy need to make, the so-called breakeven rate? Given that immigration drives population growth, and it might be negative for the first time in a Century, an argument can be made that the breakeven rate is
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Trump delayed the start of the US Open by 45 minutes, making all these people wait like cattle, costing taxpayers millions of dollars and he’s pressuring ESPN to praise him. What a fucking joke.
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Let me get this straight - nearly 20% of PE "exits" are just continuation fund deals?
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#Namibia and #Orangebasin Narrative - Venus FID in 2026. No analysts asked what happens if Total ($TTE) buys into Mopane. Will Venus FID remain on the cards for 2026? To be fair, what could mgmt say to the Mopane question 🤷 $AOIFF $AOI #AfricaOil
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Capital Management Paid⬇️$270m of debt facility YTD. Why, when mgmt touts the low leverage of 0.6x debt/EBITDAX ? Mgmt want the optionality to gear up for acquisition is the most obvious rationale to me. Why not use part of debt-paydown CF to buyback very cheap equity?
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....Will Pactual sell one of their assets to $MER at a poor valuation? M&A remains the biggest risk to owning $MER.TO: They purchase an asset at a expensive (relative to MER's valuation) multiple and cut the base dividend to fund growth. Tough to beat BBacks at these vals.
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