45thCap

All-cap growth tilt PM. #TweetsNotTrades

[45thCap @45thCap]

@ShanuMathew93 Tough to say - I hate that they all talk several layers of demand/supply at once. He also says they are constrained on their own supply. So does that constraint keep them under the 30?

[45thCap @45thCap]

$PANW call really making this point. Talk of $1 trillion in technical debt. What happens after everyone accelerates spend to address this? We're just pulling demand forward.

[45thCap @45thCap]

Does cyber in 2026/2027 become the same thing as SaaS in 2020/2021?

[Nick Timiraos @NickTimiraos]

Stanley Druckenmiller renders an unfavorable opinion of Treasury Secretary Scott Bessent's use of buybacks to defend against higher yields in a market that is functioning normally.

"I have spent five decades trading on a simple premise: Markets aggregate information no committee possesses, and prices are how that information reaches decision makers. The long-term Treasury yield is the most important price in the world. It is also the only fiscal disciplinarian the U.S. has left."

"Every basis point of artificial yield suppression is a subsidy to procrastination."

"Return buybacks to their stated purpose: small, scheduled, off-the-run liquidity operations announced at quarterly refundings, never off-cycle responses to yield levels. Term out the debt honestly and pay the price the market sets."

"If the 30-year must trade at 5.5% to clear, that isn’t a crisis. It is an invoice. Then do the only thing that durably lowers long-term yields: address the primary deficit."

https://t.co/Xe8Vi38WiI

[45thCap @45thCap]

So we're going to end the on/off ramp for crypto and dollars, right?

[*Walter Bloomberg @DeItaone]

*BESSENT: WILL END DOLLAR ACCESS TO THOSE LAUNDERING IRAN MONEY

[45thCap @45thCap]

This JPM AI compute supply/demand table is bonkers. Kudos for trying? But why even bother...Just a finger in the air.

[45thCap @45thCap]

@ByrneHobart Ooohhh...Can we do guesses?

Odd lot tender arbitrages?
CEF liquidations/tenders?
Microcap liquidations?

[45thCap @45thCap]

@midwestern_ope Shoes off you madman!

[45thCap @45thCap]

@PythiaR @shortbus_ace @ErnestWongBWM Yeah... that's gone too

[45thCap @45thCap]

SALP liquidated to one buyer - who's the buyer?

Just imagine the Fintwit discourse if it turns out to be $NVDA!

[45thCap @45thCap]

@EconomPic @DaveNadig The value is the ideas, the problem is the format immediately sounds like AI so then the readers mind immediately discounts the value of the idea

[45thCap @45thCap]

@buccocapital And the miss was mainframes...

[45thCap @45thCap]

@TBU12345678 The same team that put out a PR saying META standardized on NVDA networking and then edited the PR days later to say they were using, not standardizing?

[45thCap @45thCap]

@chat_SBC Because I own over 10% in AMAT/KLAC and a good slug of TSM

[45thCap @45thCap]

Were NDQ futures up over 2% and then opened up only 0.5%?

[45thCap @45thCap]

@lhamtil It's extremely well known. The nuance is lost in the past few months though. The upgrades to semicap estimates still to come are insane.

[45thCap @45thCap]

@jwt0625 What presentation is that from?

[45thCap @45thCap]

@negligible_cap lol

[45thCap @45thCap]

@TBU12345678 Guy literally top ticked ADBE when he left his history of semi CFO roles in 2021.

[45thCap @45thCap]

@pekwat $A reported strong results. That's all. FLOWS!