Argonath Capital

Aspiring fund co-run by JD and CFA. Shorting is just taking advantage of the Pareto Principle in markets.

NOT INVESTMENT ADVICE

[Argonath Capital @ArgonathCapital]

Korean Microcap Value - Updated
Tier 1:
$013030 Hy-Lok Corp.
$066620 Kukbo Design Co., Ltd.
$260970 S&D Co., Ltd.
$003650 Mi Chang Oil Industrial Co.
$023590 Daou Technology Inc.
$045340 Total Soft Bank Ltd.
$080010 eSang Networks Co, Ltd
$120240 Daejung Chemicals & Metals Co

[Argonath Capital @ArgonathCapital]

$BDOUY had a nice day! Like I said very underpriced EM bank when many are expensive! Great way to be the long the Philippines

[Argonath Capital @ArgonathCapital]

@R2Discovery Might have to relook at this one after taking a break

[Argonath Capital @ArgonathCapital]

If this is real is that bullish or bearish SK stocks

[jbulltard @jbulltard1]

He probably was levered long Korean stocks

[Argonath Capital @ArgonathCapital]

@FriendlyCapMgmt Do I cover the short yet?

[Argonath Capital @ArgonathCapital]

This is probably the textbook digital twin play but you have to pay up for it rn

[Argonath Capital @ArgonathCapital]

$APPN is ripping thanks @Vmaxpax

[Argonath Capital @ArgonathCapital]

Own $EPHE with $BDOUY instead of Indonesia! Starting to inflect while $EIDO is down. Oil still could pressure this but the best way to play south east Asia unless you have brokerage for individual stocks there.

[Argonath Capital @ArgonathCapital]

Bought some of the Philippines ETF $EPHE seems like capitulation here. I would love to buy individual stocks here but not in IB

[Argonath Capital @ArgonathCapital]

Don’t even remember what $ADV is but pretty sure it’s vomit 🤣

[Argonath Capital @ArgonathCapital]

BDCs and REITs puking along with other interest rate sensitives. Good day for the shorts again! The worst of the bunch. Short book getting too small to matter as much lol

[Argonath Capital @ArgonathCapital]

@MattBelloni Matt, how likely is it looking that Sarandos will give into De Luca’s and Abdy’s theatrical guarantee?

[Argonath Capital @ArgonathCapital]

Long.

[Yellowbrick Investing @joinyellowbrick]

Perma-Pipe (PPIH)

Stock Price: $27.91
Market Cap: $229mm
Enterprise Value: $267mm
EV/EBITDA (NTM): 7.4x
Given upside: 80%
3y rev CAGR: 14%

Perma-Pipe manufactures engineered coatings, insulation, containment and leak-detection systems for energy, water and other infrastructure.

Mgmt shifted away from price-led district heating/cooling bids to higher-value technical selling, closer involvement in customer specifications, deeper national-oil-company relationships and local manufacturing in markets where domestic-content rules influence awards. The opportunity set now includes oil and gas, water infrastructure, large-scale energy and industrial projects, plus North American data-center cooling. This transformation coincides with expected growth in Middle Eastern oil and water investment and rapid data-center construction. Rev grew at a 14% three-year CAGR, and the shares trade at 7x trailing EV/EBITDA with a 5% pro forma adjusted FCF yield; long-term debt is $29.9 million. Higher volumes through existing plants should drive operating leverage; new credit capacity enables larger contracts. Pernas models revenue ~$226m→$340m by 2028 and gross margin ~31%→35%, putting shares at ~5x its 2028 earnings estimate; sees ≥80% upside.

Recently pitched by @pernasresearch. Make sure to give them a follow

[Argonath Capital @ArgonathCapital]

@finphysnerd That is an interesting way to think about it. How do you handle the binary bets on the shorts. Do you hedge?

[Argonath Capital @ArgonathCapital]

@finphysnerd $MEME bro saving the day

[Argonath Capital @ArgonathCapital]

$BUKS is BUCKING today

[Argonath Capital @ArgonathCapital]

$LANV is another short that may be good no one talks about

[Argonath Capital @ArgonathCapital]

The $GLAS short has done too well. Didn’t even get a chance to size it up.

[Argonath Capital @ArgonathCapital]

4% day for $MEME not bad

[Argonath Capital @ArgonathCapital]

How this has moved so fast! Time to go long a smidge of $MEME