Dutton Capital

Distressed debt and special situations. “This life’s hard, but it’s harder if you’re stupid” - John Wayne

[Dutton Capital @DuttonCapital]

Can’t pay cash interest with Adj. EBITDA

[Dutton Capital @DuttonCapital]

@AlderLaneEggs You’re the one who sounds like the arrogant asshat here, Marc.

[Chicken Little @TintagelCapital]

@AlderLaneEggs This is in such poor taste

[Dutton Capital @DuttonCapital]

@michaelchutney @mjmauboussin @rsandler21969 @Columbia_Biz @grok You should ask grok how that statistic justifies calling someone an Islamophobe after only expressing concern of extremism.

Upholding western values is becoming more important every day. I wouldn’t expect a label-attaching Indian to realize that.

[Dutton Capital @DuttonCapital]

@michaelchutney @mjmauboussin @rsandler21969 @Columbia_Biz Islamophobe how? He expressed his concern of the rise of Islamic extremism. Hard to understand how that warrants being accused an Islamophobe.

[Dutton Capital @DuttonCapital]

@qcapital2020 Imagine if Onex hadn't sold its controlling position in 2023...

[Dutton Capital @DuttonCapital]

@milken_cookies Loved the directors cut. Watched it a few weeks back, took a while to find it online though. Believe this link is one of the few places to watch/rent it.

https://t.co/RNd0JrIOwm

[Dutton Capital @DuttonCapital]

@cousin_vanko @theojaffee Wisconsin has a dozen or so

[Danny Ocean @DannyOcean555]

Delayed at the airport

So here are two random, memorable, zero alpha transcript clips:

1. FLL Q1 ‘22

CEO Dan Lee giving a totally unprompted master class on frozen crab economics.

It’s silly, but really demonstrates Lee has an incredible operational understanding of his biz

[Dutton Capital @DuttonCapital]

What internal forecasting systems do your portfolio companies use most often? I’m surprised how many companies are forecasting using Google Sheets.

[Dutton Capital @DuttonCapital]

@inglouriouscap If your university has Bloomberg terminals, use them to network via IB/messaging. It’s how I landed a buyside seat out of undergrad.

[Dirty Texas Hedge @HedgeDirty]

@SamEversonCle The mix of economic opportunity and punishing heat selects for people who want to work to get ahead and deters people who want to coast. It's probably second to only NYC as a business-first city, except unlike NYC it's very hospitable to family life

[Dutton Capital @DuttonCapital]

Who let Friedberg put the situation room as his zoom background when talking to a former president? Fucking idiot.

[Dutton Capital @DuttonCapital]

@FracSlap @sydneyarch New Houston hotel, the Thompson. Nice place.

[Nice Quarter Guys @NiceQuarterGuys]

This is the dumbest post I’ve seen on here in a while 🫵🫵

[Dutton Capital @DuttonCapital]

@dominicdeecoco Initiative sucks too imo

[Dutton Capital @DuttonCapital]

@JasonGWild @UWMadison Proud Badger here !

[JUNK BOND ANALYST @junkbondanalyst]

CLOs about to learn what distressed debt really is

[Dutton Capital @DuttonCapital]

@RecoveryTrade Brother. Stop. You still have not grasped the original quip.

[Dutton Capital @DuttonCapital]

Today I learned that Amherst, an $18B (mostly single family) real estate manager, runs 20,000 Monte Carlo simulations on a singular home just to make 100bps over treasury.

Touch grass. Jesus Christ.

[Dutton Capital @DuttonCapital]

@RecoveryTrade The point isn’t that single family real estate is a bad investment, it’s that doing 20,000 simulations on a singular mortgage is trying too hard. High effort, low reward.

My local credit union makes the same returns in this asset class by using an abacus.