SwishCapital

[SwishCapital @SwishCapital]

Latest Portfolio: $BRKB 16% | Money Markets 12% | $APO 7% | $CASY 6% | $RPRX 5% | $SCHD 4% | $AMZN 4% | $LAMR 3% | $HTLD 3% | $ANCTF 3% | $ICE 3% | $MHK 3% | $FWONK 3% | $OLN 3% | $TLT 2% | $WY 2% | $KMI 2% | $NVO 2% | $XBI 2% | $JEF 2% | $AR 2% | $FAF 1% | $DRVN 1% | Other

[SwishCapital @SwishCapital]

@WallStRollup Amend and extend

[SwishCapital @SwishCapital]

@firstadopter Weschler needs more than 6%. Have to imagine he’ll be steering equity portfolio post-Buffett

[SwishCapital @SwishCapital]

@cremieuxrecueil Opportunity cost

[SwishCapital @SwishCapital]

@Jesse_Livermore Whenever he speaks I can’t help but think of this.

[Liron Shapira @liron]

Today @pmarca was asked by @tylercowen to explain a Web3 use case.

I clipped this gem from 28:08 of Conversations With Tyler.

Highly recommended...

[SwishCapital @SwishCapital]

@Jesse_Livermore You’re a great content filter for me, thanks!

[SwishCapital @SwishCapital]

@breadcrumbsre Looks like $CP

[SwishCapital @SwishCapital]

@stevehou

[Liron Shapira @liron]

Today @pmarca was asked by @tylercowen to explain a Web3 use case.

I clipped this gem from 28:08 of Conversations With Tyler.

Highly recommended...

[SwishCapital @SwishCapital]

@JerryCap But how does it get back up to my basis?

[SwishCapital @SwishCapital]

@JerryCap iPhones allow parents to have surveillance state, weed crowds out use, and maybe less boredom from better video games/social media which lessens need to drink?

[SwishCapital @SwishCapital]

@WillManidis Warren to Charlie 😂😂

[SwishCapital @SwishCapital]

@Biohazard3737 Why not a great setup for $RPRX?

[SwishCapital @SwishCapital]

@Biohazard3737 $RLAY

[SwishCapital @SwishCapital]

@FreightAlley Pull forward from companies front-running tariffs?

[SwishCapital @SwishCapital]

@JerryCap 10% cagr since IPO. Would’ve bet 15-20%

[SwishCapital @SwishCapital]

$HTLD : again, stepping in front of a recession with a cyclical is not ideal, but there is minimal BK risk here. And btw, the Gerdin family owns 41% of the stock.

Trading at .9 book, 10% plus FCF yield on trough performance, what happens if this freight market inflects?

[SwishCapital @SwishCapital]

Continuing to add to $HTLD. Yes there’s a rapid deterioration in macro, but $HTLD trading like there is insolvency risk. $180mm debt, continuing to pay it down, $160mm of EBITDA (2.5x covenant). $100mm in FCF in both 2023/2024, market cap is now $700mm.

[SwishCapital @SwishCapital]

If there is a turnaround, they have a ton of operating leverage as their two acquisitions ($750mm purchase price) have been contributing negative operating income. If not, they continue to pay down debt, as competitors go under.