Harbour Point Capital

L/S Hedge Fund (Tech / Fins) Content Does Not Qualify as Investment Advice

[Harbour Point Capital @harbourpointcap]

@BoringBiz_ Also...the banking life is getting much, much better. They're all adopting AI / tech to kill all the horrible data room, turning pages / formatting, CIM work. They're going to put more and more people in front of clients and in client meetings to learn / grow a business early

[Harbour Point Capital @harbourpointcap]

@avidseries Depends on your horizon

[Harbour Point Capital @harbourpointcap]

So who exactly is going to pay for this? Not one bank could conceivably financially do this. Provide a mortgage to someone who couldn't get one without a down payment (i.e. collateral) and no interest. Who's paying the down payment so banks can make the loan? Who's paying the bank for the negative carry now on their balance sheet b/c base rates are up and therefore cost of funds is up? Then who will be able to absorb the high credit losses that will mount from this? Oh! Almost forgot, this will also result in a dramatic increase in house prices because tens of millions are now in the market b/c they don't have to put a down payment on it and they don't pay interest. This would be perhaps one of the worst ways to solve the housing problem...maybe though, just maybe, we could just massively cut regulation and provide incentives to increase supply? That seems like a sensible way out lol - but you're party doesn't believe in that unfort @JoeSquawk @BillAckman @SenWarren @BernieSanders

[Harbour Point Capital @harbourpointcap]

This is perhaps one of the most asinine thoughts I've ever heard - since Clinton expanded housing to those whom shouldn't have gotten it. This would effectively just result in a massive increase of house prices. It's a free giveaway. Just rapidly accelerate / promote new home build...supply is the only thing that reduces prices durably

[Marc Lehman @markflowchatter]

For any of the old Lehman Bros Alum out there

Legandary and still the same

[Harbour Point Capital @harbourpointcap]

@sckk8514 @DDuggan21 He has unbelievable physical traits. The problem is he can't catch a ball, which is like pretty important if a key part of the job is ya know catching a ball

[Harbour Point Capital @harbourpointcap]

@DDuggan21 For as good as we've labeled Nabers he sure has a lot of drops, at key moments too

[litquidity @litcapital]

Insane that we’re fighting to import welfare recipients supported by US taxpayers. Even more insane, our taxes are being used to fund the lawsuits.

And to top it off, we have lawmakers pushing to increase taxes to offer ever more “free” stuff.

What are we even doing anymore?

[Lou Basenese @LouBasenese]

The bear case for $HOOD in one chart (via @Fiscal_ai).

Prediction markets are not investments. Over time, the house will win, investors will lose... and when they lose enough money, they'll stop gambling.

[The Assembly @InTheAssembly]

Peter Thiel just put 72% of his public portfolio into energy and power.

Here’s the full list:

VIST 18.1%
Argentine shale in Vaca Muerta. Second biggest position in the whole book.

VST 14.1%
Independent power producer with nuclear and direct data centre contracts.

AEP 10.1%
Regulated utility with one of the largest contracted data centre pipelines in the country.

DTE 9.6%
Midwest utility feeding industrial and AI demand.

FE 9.5%
Transmission heavy. The wires side of the buildout.

CMS 9.4%
Another regulated utility, sized almost identically to the rest.

XE 0.9%
Small modular reactors. Tiny position, but that's the nuclear bet.

Generation, fuel, regulated utilities and next generation nuclear. 4 different ways to own the same constraint.

[Harbour Point Capital @harbourpointcap]

@NegativeAlp I bet you never had a Zyn

[Nicholas Mugalli @RealNickMugalli]

This is my absolute favorite CNBC moment of all time. He never gave a shit even when it wasn’t popular…

Absolute legend! Happy retirement .@RickSantelli 🐐

[Casey Krol @CaseyKrol]

Likely future leader of Germany:

“In my first 100 days, I will close the borders, eliminate social benefits for migrants, and carry out Germany’s largest deportations.”

Do you support her? 🇩🇪

[Fireside Alpha @firesidealpha]

https://t.co/ivEmJKpbKR

[Michael Malice @michaelmalice]

I have not seen a better argument for the AfD than the beginning of this hit piece from The Atlantic
I'm not kidding

[Harbour Point Capital @harbourpointcap]

A bit simplistic but I am Long $SPGI too, just not max Long yet.

I think the multiple is close to a floor given the implied MI multiple = cheaper than $FDS now so stock should grow with earnings, which are positioned to grow 11-15% over next 4 years. There are massive issuance years in 2027-2028 if you go thru dealogic data / talk to DCM desks.

But, there is still risk of MI deceleration even from here. There are clearly some underperforming assets there, which may only fan the AI-disintermediation concerns, and they are being (long term smart) careful with their IP. They will aggressively divest those assets and take up margins though.

So, in a sense, issuance pull-forward from lower rates could certainly be good for the stock and if markets are strong, assuming the lower rates are driven by slowing inflation vs weakening economy, earnings revisions should take place, the multiple should expand, and stock should work.

[Harbour Point Capital @harbourpointcap]

@shadowcanman @grok is this data accurate?

[Harbour Point Capital @harbourpointcap]

@DanielSLoeb1 @DanielSLoeb1 it's an unbelievable epidemic. Being part of the a trust fund socialite requires the rejection of all principles that ironically highly likely funds their lavish, yet empathetic lifestyles

[Ethan Kho @ethanrkho]

An ex-Balyasny PM with 15 years at Goldman, Citadel, and BAM: "I have never seen someone improve from a bad investor to a good investor":

Ying Hua (@huaxying) — ex-Goldman, ex-Citadel, PM at Balyasny, now founder of Implied (@impliedinsights) — explains:

"From my experience, some of the qualities of a very good investor are pretty innate."

"Maybe it's the nature of the business model: you can only fail so many times in this circle before you no longer have a shot."

"I haven't really seen someone improve from a bad investor to a good investor."

"The skill-gaining happens on the junior side — going from not taking risk to taking risk, learning from your PM. There's some ramp there."

"But once you start taking risk? I haven't seen meaningful improvement. Not from really bad to really good."

"And it's getting harder — the game used to change every five to seven years. Now it's every two to three."

"So the other tell of a bad investor: someone set in their way. 'I have a process. This is how I make alpha. This is the only way that works.' That mentality is probably harmful."

[Viral Videos™️ @ViralVideos]

Did I read that right?! This woman’s dropping off BOTH her 14 YR OLD SON AND HIS BABY to school? 🤦‍♂️

Why’s that baby in a forward facing seat, unbuckled/not buckled correctly with a phone in his face?

The level people go to for clicks and views is insane.