Matt

Jesus | Credit analyst. Conviction-led macro lens + deep-dives on equities, crypto, rates & FX. Independent. Unconflicted. Unfiltered. 🇿🇦🇺🇸

[Matt @brimcmbe]

I’ve been writing about markets since 2022. 89 weekly letters to be exact.

Now: a full rebrand, and a formal institutional partnership.

Today I’m building in public.

Brimacombe Capital is live - macro-driven, regime-first, concentrated.

This first letter is the origin story. Where this came from, where it’s going, and what you can expect from every piece that follows.

Read it here -> https://t.co/WHMqtBlP4p

[First Squawk @FirstSquawk]

ORACLE SAID IT SIGNED $67 BILLION OF AI INFRASTRUCTURE CONTRACTS IN THE FOURTH QUARTER, WITH MOST CUSTOMERS EITHER PROVIDING THEIR OWN HARDWARE OR PREPAYING, UNDERSCORING STRONG DEMAND FOR ITS AI AND CLOUD INFRASTRUCTURE SERVICES.

[Jukan @jukan05]

* OpenAI Considers Drastic Price Cuts, Anticipating Costly War For Users With Anthropic - WSJ

[zerohedge @zerohedge]

ORCL Q3:
Adj EPS $2.11 vs. $1.70 y/y, beating est of $1.97
Adj revenue $19.18 billion, +21% y/y, beating estimates of $19.09 billion

Cloud revenue (IaaS plus SaaS) $9.91BN, missing est $10BN
Cloud Infrastructure revenue (IaaS) $5.79BN, beating est $5.72BN
Cloud Application revenue (SaaS) $4.13BN,missing est $4.17BN
Software revenue $6.82BN, beating est of $6.88BN
Software Support revenue $4.94BN, -0.4% y/y, missing est $4.98BN
Software License revenue $1.88BN, missing est $1.93BN
Hardware revenue $924MM, beating est $836.2MM

[Matt @brimcmbe]

@jaymesrosenthal @Strategy @saylor And I believe they also got PhDs in Russo-Ukrainian history prior to that as well. Just sheer brilliance.

[*Walter Bloomberg @DeItaone]

SPACEX'S NASDAQ IPO IS SAID TO BE WELL OVERSUBSCRIBED

[Flood @ThinkingUSD]

Some perspective for you all. Especially those who feel like they don't have enough capital.

"Is $10mm enough to retire, I barely have $1mm etc. etc."

$700,000 compounded at 30% for 30 years is $1.8B.

It's not about the capital base, it's about the rate of return.

[Matt @brimcmbe]

@ThinkingUSD Riding winners too long. Got to execute and take money off the table at some point.

[Matt @brimcmbe]

Say this to myself in the mirror every morning. Words to live by

[Flood @ThinkingUSD]

Grab yourself by the fucking nuts and bid

[Matt @brimcmbe]

I’m a simple man

[Matt @brimcmbe]

I do find this spread from HL vs. pre-market tradfi incredibly interesting

~0.33% is seriously tight for an asset that was listed 2 weeks ago. The underlying tech and reach is working awesomely

$PURR

[Matt @brimcmbe]

Real time coverage, my man 🤝🏻 well earned @Globalflows

$PURR

[Matt @brimcmbe]

Larry Ellison's time is coming

Full breakdown here

The Waitlist: https://t.co/WSwDdRAW7W

$ORCL

[Matt @brimcmbe]

Larry Ellison lost $176 billion on paper.

He issued $43 billion in debt.

He did not sell a single share.

That is either the most concentrated act of founder conviction in modern market history - or the most expensive ego trip ever funded by senior notes.

The $553B backlog is what makes it the former.

$ORCL

Full thesis: The Waitlist https://t.co/2lEmAJ2VgR

[Capital Flows @Globalflows]

Hyperliquid Strategies ($PURR ) will have a gamma squeeze in the next 60 trading days (similar to GameStop)🧵👇

$PURR just had its largest day of trading volume, indicating how aggressively investors are establishing positions into the regulatory change for Hyperliquid

On top of this, call open interest for $PURR is surging, as traders buy the OTM tails. Watch very closely because once more OTM calls get listed, it will almost certainly cause a gamma squeeze. Right now, $PURR is the only liquid location to buy OTM calls on Hyperliquid, squeezing into the regulatory acceptance.

There is a massive problem with the calls right now, though. The strikes aren't listed very high. I'll explain this in the next tweet below for you.

[Desiring God @desiringGod]

“The Lord is good to those who wait for him, to the soul who seeks him.” —Lamentations 3:25

[Matt @brimcmbe]

Kind of a wild thing to say on live television

[Tobias Reisner @reisnertobias]

$PURR vs. $MSTR

HypeStrat holds 22.29M $HYPE
Total invest: 559m (Part Cash, Part HYPE for Shares)
Avg Cost: $25.11 per HYPE
uPNL: +$1.22 Billion

Strategy holds 843.738 $BTC
Total Invest: $63 Billion
Avg Cost: $75.700 per BTC
uPNL: -1.4 Billion

So PURR spent 100 times less than MSTR and outperformed.

[Matt @brimcmbe]

It does feel good…

$PURR $ORCL

[Matt @brimcmbe]

@zerohedge More like

[Matt @brimcmbe]

Incredible - absolutely love to see it. Americana at its finest 🇺🇸

But real question is when can we start trading @Starcloud_ on @tradexyz, @sershokunin?

[Capital Flows @Globalflows]

The space race and ai race are converging in a single company: @Starcloud_ with @PhilipJohnston leading the way

Think bigger frens

What is coming will stretch the very fabric of what human imagination thinks is possible

[Matt @brimcmbe]

Larry Ellison lost $176 billion on paper.

He issued $43 billion in debt.

He did not sell a single share.

That is either the most concentrated act of founder conviction in modern market history - or the most expensive ego trip ever funded by senior notes.

The $553B backlog is what makes it the former.

$ORCL

Full thesis: The Waitlist https://t.co/2lEmAJ2VgR