Phil DeSantis, CFA 🇺🇸

Retired Investment Pro. Battle Tested after 3 decades. Straight Talk on Macro, AI Infrastructure & Digital Assets. No Hype. No Fluff. The Mindset is the Alpha.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

Quick re-introduction on me.

I’ve spent more than 30 years in markets across institutional investing, wealth mgmt, global macro, small caps and alternatives. I’m a CFA, I’ve traded since 1995, and I was fortunate enough to retire young.

These days I invest only my own capital, with most of my attention on AI infra, semis, special situations and BTC. I’ll share the tickers I own, the work behind them and the risks that could prove me wrong.

But the longer I’ve done this, the less impressed I am by predictions and the more I respect mindset. Markets reward patience, adaptability and emotional control far more consistently than ego or certainty.

I share both, the names I’m underwriting and the psychology required to hold, add, cut and change your mind when the facts change or the asymmetry diminishes.

No course. No paid group. Nothing to sell you.

Just 3 decades of wins, losses and lessons, shared in public.

My way of giving back to investors.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

Reiterating $MRVL here and on any weakness as potentially one of the biggest winners of the Vera Rubin Cycle which is about to ramp up.

Remember - NVIDIA already invested $2 billion in Marvell specifically to deepen collaboration on optical interconnects, silicon photonics, and CPO-related technology.

See Below.

[P Equity Research 📰 @pequityresearch]

Nvidia's announcement of co-packaged optics entering mass production provides a boost to optical communications.

"Gilad Shainer, Senior Vice President of NVIDIA, announced that Co-Package Optics (CPO) has entered mass production."

"According to foreign media reports, Gilad Shainer announced at a recent technology forum that CPO has begun mass production. Switches developed by Nvidia in collaboration with its supply chain have been delivered to close customers and are also being deployed at Nvidia's own facilities. It is expected that a large number of switches with CPO technology will be introduced into AI factories around the world this year."

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@moninvestor @usppdd @JoshInvestsAI @AtlasShrug1 @GrumpierBTDay @MarcoRamireZuno @mcF_dan @JosephFGI @_Sgr_A_Star @LandoInvests @outliercapx @franklee6924T @snmart @YoYInvestor @JaradCapital @tempocap2 @SharkChart Thank you @moninvestor

You’re too kind.

🙏

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@moninvestor The cost of the house is 2–3-4X plus taxes and insurance.

The 30yr mtg has been one of the most destructive financial products in American History.

Yet, most people think owning a home is the real flex.

Few…

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

Great note Marco. The other facet is if Capex is being largely financed vs. FCF from the hypers and we are near the upper limit YOY starting in 08 then the tech and narratives will be there, but valuations may not. I think that’s the bet larger shorts are making and why we are seeing this correction which encompasses liquidity events and a darker macro picture.

This still feels like a mid term correction but the economic gravity may be getting heavier.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@mikealfred 1000000% agree.

Let Blackrock and Fidelity handle this with custody.

Multi-Layer Protection and Too Big to Fail. These are essentially govt entities.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@TedPillows It’s typically negative for high beta growth in the U.S.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@LukeGromen “Enter Sandman” more appropriate —-nonetheless.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@LawrenceLepard If there was ever a country that should be printing to buy Bitcoin. It is Japan 🇯🇵

bitcoin:native

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@SmallCapSnipa He should really qualify for the audience - traders vs. investors. Why not buy weakness if he guides down 10%.

Who’s lining his pockets

“Citadel”

Everyone in on it.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@tbpn @MartinShkreli Not a fair game right

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@bitcoinbutcher1 @RHouseResearch 100%

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

QT (Sell Short Term Notes)

or

QE (YCC Buy Long Bonds)

??

Warsh does not want to raise rates having to answer to Trump. Wouldn’t YCC solve everyone’s problems including the Tresury Dept which is all that matters.

Warsh keeps reiterating “tools” - I don’t think he is talking simply about rate hikes.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@LawrenceLepard I thought so. Agree but he talks down the FEDs balance sheet. Confusing

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@AlexisWrem1747 @TheBigDegen Half of those start ups will be out of business in 3-4-5yrs.

Not the ideal client for highly indebted companies with long duration liabilities.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@AtlasShrug1 @ChairmansLedger Multiples are high because of the debasement of the dollar.

In the absence of much higher rates why would investors desperate to own assets vs. dollars all of a sudden multiples are too high. That appears more structural.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@AvivArazi @danroberts0101 All +++ new respect Aviv.

Well said.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

And smooth out the cycles long term to help service the debt and not get caught if prices come down or there are gaps in demand which obviously there will be.

There is no argument here. It’s all about contracted revenue and backlog here. That is the only way forward without basically guaranteeing against idle assets and levels of uncertainty that wreak havoc on your stock resulting in lower multiples etc.

There will be slow downs, there will be cyclically don’t convince yourself IREN has the right strategy here. They are doing their best with the hand they were dealt with most hyper rejecting them.

If you were Google would you take on the counter party risk up right here on a multi-billion dollar project? The debt is nearly 50-60% of the equity here.

Difficult decision if you’re a customer. It’s easier to just bid and buy the company vs. building a competitor who wants to compete against you. There is something off here.

We have seen this before. They need to build a long term backlog and rethink on Colo.

[Phil DeSantis, CFA 🇺🇸 @PDphillyPhil]

@NUAIandTRUMP @bitcoinbutcher1 @federalreserve Next 3 days possible or when the long end stops rising.