Contrarian and Correct

I spend most of my time reading, thinking, and talking about businesses. Still learning. Sharing what I find — hopefully before everyone else.

[Contrarian and Correct @Contrarian1334]

@Whit_Huguley Nice work, thanks for sharing!

[Contrarian and Correct @Contrarian1334]

@paulcerro @marketplunger1 Did the IPO provide liquidity to LPs? I thought it was 98% newly issued shares with the goal of de-leveraging.

[Contrarian and Correct @Contrarian1334]

@CAronitpereira This is awesome

[Contrarian and Correct @Contrarian1334]

@BillAckman @X Interesting to see $ALC added here. I've followed their failed acquisition on $LNSR

[Contrarian and Correct @Contrarian1334]

@OneManLBO Couldn’t agree more.

[Contrarian and Correct @Contrarian1334]

@WillHeyburn Nice work Will!

[Contrarian and Correct @Contrarian1334]

@stockspinoffss I’d join!

[Elon Musk @elonmusk]

🔥😂

[Jawwwn @jawwwn_]

Alex Karp shares Palantir’s secret to sales:

“We hope you go to an LLM company.”

“No matter how bad this conference is, we could never sell you like they’ll sell you, which is—giving you something that makes you feel smart while your business goes out of business.”

“You’re going to go home feeling poorer and less safe. You’ll buy the product, and pay a lot in tokens, and it’s going to be very hard to understand how it helps you.”

“But, investors will know you’re smart.”

“Feel free to go learn about that and you’ll find: there’s a myriad of problems these models solve, and an even bigger amount of problems they create.”

[Contrarian and Correct @Contrarian1334]

@blueprintsmb22 @dealflow_guy Come on!

[Contrarian and Correct @Contrarian1334]

@negligible_cap How comfortable are you with $SKM valuation excluding anthropic? Same question for $ZM.

[Contrarian and Correct @Contrarian1334]

@JustinB90072145 Yeah. Hard to predict the future for most businesses. $PPHC feels predictable and underpriced.

[Contrarian and Correct @Contrarian1334]

At $11.90, $PPHC trades at <8× 2026 adj. EBITDA.

The company is acquiring strong businesses at lower multiples, but not materially so.

If you believe the platform is worth more than the sum of its parts, this valuation is unlikely to last.

https://t.co/CdtfQRqVuf

[Contrarian and Correct @Contrarian1334]

@JustinB90072145 Thank you! It’s clearly under appreciated.

[Mitch McMullen @weddingowner]

Alright ReTwit, I just finished Trammell Crow: Master Builder.

If you’d like to read it next, like and retweet this post. I will pick a winner and mail it to you next week.

Rules: Must stay in ReTwit. Whoever read it last pays for shipping to the next person.

[Todd Saunders @toddsaunders]

A founder I really lookup to does "stay interviews" instead of exit interviews.

Once a quarter, they sit down with every person on the team and ask 3 questions:

1/ What would make you leave in the next 6 months?
2/ What's the gap between what you expected this job to be and what it actually is?
3/ If you were CEO, what would you change first?

I wish I did this when running Broadlume, it's an incredible way to gut check the internal pulse of the company.

[Contrarian and Correct @Contrarian1334]

@friedberg @RoKhanna @chamath 👏👏👏

[david friedberg @friedberg]

why not just raise income tax rates?

because your real intent is not to just “provide healthcare”.

you’re masking that you are proposing the creation of, for the first time in the 250 years of this American republic, an organized government seizure of private property from citizens.

you’re calling it a “wealth tax” or a “billionaires tax” or “millionaires tax” or whatever nom du jour polls well. but at the end of the day, it’s the seizure of private property from citizens by the government. citizens that earned money, paid their fair taxes on those earnings (53% if they live in California) and are now being told they need to hand over after-tax assets because the government has failed to provide promised services with the revenue it’s collected, and are now re-casting their own failure to be a socio-economic inequity that must be justly resolved... a slippery slope that has never gone anywhere good (see economic effects in USSR, Cuba, Venezuela, France and Norway wealth tax etc.)

the American founders fled tyranny in Europe and this amazing nation was populated by immigrants (myself and your parents) from around the world not just looking for a “better life” but for a place where they could have freedom from tyrannical governments that can take what they want from private citizens. a great nation borne of property rights, the rule of law, and endowed freedoms to believe, speak, or act. these principles led to the greatest run of innovations, successes, and widespread increase in prosperity, for all citizens, ever seen.

the citizens, the individuals, not the institutions, delivered this progress. those who invented, who toiled, who bled, who sacrificed, who took risk and persevered, who led, and who changed the world, are not charlatans, kleptocrats, or oligarchs. they’re what made us all better off. prosperity is a measure of america’s success, not its failure.

it is your principle that is so offensive, as evidenced by the broad disdain for your flippant flirtation with the darkest of human fantasy - socialism. you and other neo-socialists have led so many of us to reflect on America’s history and what it is becoming. that now leads so many to consider, so unnecessarily, leaving their homes for a place where everyone stands up to shout down the principle you suggest. because if your ideas are now considered moderate, it’s clear this titanic is sinking.

that a “simple tax” of taking assets that have been earned, through toil and tribulation, rightly taxed, and preserved, should now be unjustly seized, is your solution to a problem of obvious government mismanagement and outright fraud, tells us that your true motivation lies not in giving people healthcare but in cutting down success and deleting the system of prosperity and opportunity for all.

i don’t care, and neither should anyone else, what the sum total market value of a private citizens private assets might be. it is none of my business and should be none of yours. because, again, once you open that pandora’s box, we might as well study Lord of the Flies … there is literally nothing stopping 51% of citizens demanding that their government go out and seize 100% of the private property of the 49%.

want to give healthcare to people in need? do your job and fix healthcare. make it affordable. want to be lazy about it? then do your job lazily and raise income taxes.

want to take private property from private citizens who have paid their fair share of taxes and legally earned their property, then honestly declare that it is envy, not inequity, that you strive to resolve…

[Contrarian and Correct @Contrarian1334]

@SenMikeLee 1000% Yes.

[jbulltard @jbulltard1]

We need this so badly, the buy and hold people getting rich is nauseating, it took skill to outperform once upon a time

https://t.co/nHUOdcgHqi