Derek Trout

[Derek Trout @DerekTrout]

@Empiricalcontra @TTRAmyloid Congrats on all your success. Curious as to what have been some of the bigger wins along the way and if you always run so few positions?

[Derek Trout @DerekTrout]

@evisdrenova Of all the froth from 2020/2021 this was my favorite deal announcement. You couldn't make it up

[Derek Trout @DerekTrout]

@DeepSailCapital @ClarkSquareCap ....they don't have the budget or the bandwidth and seems like Genesis could serve useful AI to them on a plate. Also agree with @DeepSailCapital take on the last earnings call they're usually fairly low key & matter of fact but seemed surprisingly pumped

[Derek Trout @DerekTrout]

@DeepSailCapital @ClarkSquareCap Added to this one today coincidentally. I think what's also interesting from an AI risk/noise perspective as you consider clbt is the buyer persona. As well as being regulated, needing an evidence/audit trail etc there's no way a PD or IC buyer is ever gonna even think about DIY

[Derek Trout @DerekTrout]

@JerryCap @PlanMaestro I used work with an older guy who had spent years working fifo on offshore oil rigs that are almost exclusively accessed via helicopter. His favorite line spoken in all seriousness was he had spent so much time on helicopters that "statistically I should be dead"

[Derek Trout @DerekTrout]

@lfg_cap @TwannsWorld I'll give zukin another plug, no prizes for ex-post victory laps
https://t.co/z2XvFpszEN

[Derek Trout @DerekTrout]

If you do believe LLM based coding tools are an existential threat to sw you might as well own the infra that instruments them. Per Zukin at Wolfe they're growing in these accounts and if on the off chance sw does have a future DDOG ftw either way
https://t.co/asBrIJdjOY

[Derek Trout @DerekTrout]

@londoncap100 This 💯. I generally like Gurley but his perspective here is v instructive...to use his own analogy pre-IPO insiders are lining up a gavage tube to turn public/retail into fois gras by force-feeding them overpriced dogshit

[Derek Trout @DerekTrout]

@WaterworldCapi1 @Cap1talCap1tal I'll like it every time

[Derek Trout @DerekTrout]

@BanterCapitalLP @sagharborcap I read billion dollar whale for the first time recently...him and Miranda coulda been a real against the odds fairytale if it wasn't for all the fraud. At least Evan's shareholders know he's pilfering their pockets unlike the Malaysian taxpayers

[Derek Trout @DerekTrout]

@QuahogCapital @sj_xxxxxxx @dalibali2 that was my main conclusion after listening to sundheim on iltb. Can't get short squeezed in a private company. Smart move I guess with more locked up fees but LPs probably aren't winning

[Derek Trout @DerekTrout]

@gordie_smith Can't argue with that!

[Derek Trout @DerekTrout]

@gordie_smith Ddog?

[Derek Trout @DerekTrout]

@_inpractise "Zapier"...ouch

[Derek Trout @DerekTrout]

@InnocenceCapit1 Aged well innocence guy

[Derek Trout @DerekTrout]

@the_judge1111 I don't disagree and it's harder when you're heavily levered to time the wave jump. Debt of 2-3x ARR can be a tough rock to climb out from under and second/third acts are all but impossible

[Derek Trout @DerekTrout]

@TTRAmyloid @Empiricalcontra Curious now that a BO of revmed is unlikely how big do you think they might get, & mgmnts level of ambition?

[Derek Trout @DerekTrout]

@TTRAmyloid @Empiricalcontra Wtf indeed, and only ~150 odd views. Funny I remember seeing this tweet a few months back and thinking yeah I guess diversified portfolio construction at 1% & 2% position sizes...um...
Congrats, incredible outcome.
https://t.co/C5GHspZIDH

[Mystwood @Empiricalcontra]

Have 2% of vktx and 1% of RVMD. These are large positions for me. Cost basis is basically the closing price for today. They feel incredibly asymmetric and you avoid the painful/uneventful buildout in RVMD and painful 75% collapse in vktx white data and ph3 progress

[Derek Trout @DerekTrout]

If you do believe LLM based coding tools are an existential threat to sw you might as well own the infra that instruments them. Per Zukin at Wolfe they're growing in these accounts and if on the off chance sw does have a future DDOG ftw either way
https://t.co/asBrIJdjOY

[Hiroo Onoda @OnodaCapital]

If Satan forced you to buy software, what’s the best R/R?

Large cap (msft, CRM, WDAY, ORCL, adbe etc)
Infra (MDB, snow, GTLB)
Truly blown out names (wix, Mndy)
Other

[Derek Trout @DerekTrout]

@west4thstreet @pekwat SBC all the way up & down (GP & portco) in this case but alignment can work so long as it's not egregious dilution. KKR moved away from "SBC for me but not for thee" a few years back https://t.co/UbHLDa15QA & made 15x MOIC & returned the fund on this one:
https://t.co/mtkN7PZkA7