₿ΞΞnThereDoneThat Capital 賢い

Semi-retired hedge fund founder. Ex hot-shot lawyer, ex hot-shot strategy consultant. Macro+picks in crypto, commodities, tech, old-economy & a few special sits

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

I nailed the GFC - saw it coming, heavily shorted into it, kept making money running net-flat for months while most were getting destroyed. Then I botched the turn, getting net short early into a monster rally and giving back more than half my fund's outperformance.
1/4

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

@PythiaR I reposted because it's a good outcome, but: Jensen has 60 direct reports. That is not a number that reveals a strategy-only guy.

[Pythia Cap: Partially Conductive @PythiaR]

Jensen steps down as day to day remains on board and strategic advisor which is what his value add is anyway.

They’ll be fine.

But like rule #1 of HR is don’t fuck the employees and rule #2 is don’t fuck the customers… pretty low bar.

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

@ByrneHobart U R pretty wise
Was this off the top of your head?

[Byrne Hobart @ByrneHobart]

On one hand, boards have to do what they have to do. On the other hand, he's a guy who's worth $150bn, knows everyone in hardware, named his company after the Latin word for "spite," and he lives in a state where you can't enforce noncompetes.

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

Holy Mother of Price Inelasticities.
I knew this was coming, and yet.
These are the just-reported spot day-rates for $TNK's crude oil tankers, including actuals for 4Q so far.
Those low-looking rates for 3Q25 were very good rates (2x 2018 and 3x the trough year of 2021).

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

James Fishback collateral damage.
Except you're not "collateral" if you decide to stand next to explosive toxic waste for an entire election cycle.

[Jaimee Michell @JaimeeUSA]

TPUSA is really starting to feel like a lost cause. I have supported them as Candace Owens’ has tried with all her might to destroy the organization, but why should I or any decent person continue to support this?

Everything Charlie Kirk abhorred and fought to keep out of the conservative movement they are now welcoming with open arms. It would never stand if he were still here.

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

One of those insights that seems obvious once someone says it to you.

[Trung Phan @TrungTPhan]

Former Tesla President Jon McNeiil says Tesla stopped hiring Apple Store employees and recruited Microsoft Store ones (this would be mid-2010s).

Why? Apple Store employees basically only take orders while Microsoft employees had to actually know how to sell a Surface (vs. iPad).

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

@BornDwnUndr Well, yes, it helps when the stealth training is given to an inherent genius athlete...

In case it wasn't clear, I love your Yaxel anecdote.

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

As much as I admire Yaxel Lendeborg, including just the name "Yaxel Lendeborg," I say:

Now do first-person drone operators. More obvious, but more widely useful.

[Eric Chen @BornDwnUndr]

For all the videogame haters, [from the early NBA ROY leader]

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

ACKSHUALLY, my chatbot has been extremely helpful in my confidently determining, faster and better, when to attempt a particular DIY effort and when to just call in the professional right away. https://t.co/07OQS61Me8

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

It says something good and also something bad about my mind that the first thought it produced upon reading this post was "Oh good, this increases the odds $AMD and Tensorwave will want more data center capacity from $FRMI."

[FinancialJuice @financialjuice]

Nvidia's CEO Huang said to have a relationship with the VP at Nvidia - NYT $NVDA

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

BREAKING: Trump chose Lutnick as Commerce Secretary because he is an extra-pliable and morally flexible lackey, and Commerce was going to be a key Trump grift node. Whocuddanode?

[*Walter Bloomberg @DeItaone]

LUTNICK STALLED TRUMP'S NVIDIA–CHINA CHIP CURBS AFTER OVAL TALKS- AXIOS

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

@compound248 $TWTR-Musk was so fun to do alongside you and @AndrewYAVB in 2022, especially given the crap market year that was 2022. This one, I can't be arsed. "Dying boring business fights to be bought by another dying boring business." Have you heard of "The AI Trade"? Much more fun.

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

@JeffMacke BTW Happy Wreck of the Edmund Fitzgerald Anniversary yesterday, to those who celebrate.

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

@iMonk2334 I don’t even understand why you would ask that question.

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

"CME Group is said to plan physically backed uranium futures contract"

Thank you, Sprott, for running a physical #uranium trust for the last 5 years when almost nobody cared about uranium. Now the market's Big Boyz will take the baton.

(This doesn't mean $SRUUF is going away. Those who hold it can just keep holding it.)

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

@INVESTMENTSHULK you needed to before???

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

Yeah but the first two parts are lies.

Signed,
A long-time biofuels investor.
We invest in the world that is, not the world we wish it were.

[Corey Lavinsky @biofuelslaw]

U.S. Senator Pete Ricketts: “Biofuels lower prices at the pump, strengthen domestic fuel markets, and create demand for Nebraska-grown feedstocks.” Solid elevator pitch.

[₿ΞΞnThereDoneThat Capital 賢い @BeenThereCap]

Some of the coming Congressional "oversight" hearings will be better than others. This one will be one of the greats.

[Axios @axios]

SCOOP: Inside Bessent's Situation Room confrontation with Lutnick over China chip security https://t.co/UoJZbx3Ebk