Tim Bergin

Value Investor. Partner Calderwood Capital. Former writer of On Beyond Investing newsletter.

[Tim Bergin @onbeyondinvest]

This will be a lot of fun. $VIRX is a really interest biotech and not so long ago it had a negative EV. I will be hosting along with Dr Junger. Please join us!

[Calderwood Capital @calderwoodcap]

https://t.co/xXdQ97dt2b

[Tim Bergin @onbeyondinvest]

@D1Fund Why did you think it would happen?

[Tim Bergin @onbeyondinvest]

@DougMohn @eriksen_tim @TreyHenninger @oddballstocks @ragnarisapirate Super happy this worked out Doug! Worked out quite well for me thus far too. Agree with above comments. Was lots of value during accounting issues if you knew who to trust.

[Tim Bergin @onbeyondinvest]

@jTimmyP @bkclaims @FocusedCompound @Steven_Kiel I am not. Just emailed you. Lots for me to learn here.

Outside of that, would be also great to catch up, been too long. Looking forward to speaking.

[Tim Bergin @onbeyondinvest]

@Crowhurst68 can you please dm me?

[Tim Bergin @onbeyondinvest]

My new favorite Twitter account.

[Robert Pettitt @Pettitt_Art]

#ATHF art giveaway!
Signed original production sketch sheet of Meatwad in various costumes from the infamous, never-aired "Boston" episode. Pencil on archival paper handmade by Paul Revere. *
Repost to enter. Winner announced Sat. Oct. 28. Good luck!

*Citation needed

[Tim Bergin @onbeyondinvest]

After reading lots of the recent books about crypto/FTX one q. One SBF defense is 'the $ was accidently sent to Alameda, it wasn't stolen'. Assume that's true. Once the $ was sent by customer then the customer would use FTX to buy some crypto. How did FTX find that purchase???

[Thomas George @thomasg_grizzle]

The Canadian Housing Crisis 🚨 🇨🇦

A must watch interview with a legend in Canadian housing @BenRabidoux 🔥

We discuss it all: Why the market hasn't blown up already? Immigration, rate hikes, credit & household leverage. #ToRE #VanRE

Full interview: https://t.co/TPJKGAl6HY

[Tim Bergin @onbeyondinvest]

@aaronvalue @_Marc_Hauser_ Does this change your views about intrastate commerce at all? Post seems to suggest that won't occur even if rescheduled to III

[Robert Pettitt @Pettitt_Art]

The Art of #ATHF
Aqua Teen art giveaway!
Original production sketch sheet from "Plaque Lagoon" featuring Meatwad waiting for the Tooth Fairy.

Drawn on standard 8.5 x 11" office paper with No. 2 pencil, signed.

RT to enter- 1 random winner selected Fri. Jul 21.

#AthfGiveaway

[Tim Bergin @onbeyondinvest]

@NestBetter I didn't know that. Suspect a similar outcome this cycle

[Tim Bergin @onbeyondinvest]

So the guy that owns the 3rd mortgage insurer in Canada is now buying the second biggest subprime lender, and he is already a large shareholder in the other big subprime lender. Something something man with a hammer....

[Julian Klymochko @JulianKlymochko]

Home Capital Group is being acquired by Stephen Smith

I guess there goes the bear case

https://t.co/LxZNdcGjfw $HCG.to

[Tim Bergin @onbeyondinvest]

Makes me think there is more to this story. I doubt he is tweeting out of the goodness of his heart at this point...

[Tim Bergin @onbeyondinvest]

This is all so fucking dumb. No one is too busy not to know how leveraged they are. It takes 2min out of a day. And then who is dumb enough to lever up illiquid assets with no discernable liquidation value to such an extent that the threat of a sales brings down your fortune.

[SBF @SBF_FTX]

23) Roughly 25% of customer assets were withdrawn each day--$4b.

As it turned out, I was wrong: leverage wasn't ~$5b, it was ~$13b.

$13b leverage, total run on the bank, total collapse in asset value, all at once.

Which is why you don't want that leverage.

---

[Tim Bergin @onbeyondinvest]

Great thread about dire state of $twtr financials due to debt costs, that are rising!

[Jeff Davies, the Energy OG @EnergyCredit1]

$TWTR capital structure thread 🧵

Elon had commitments for $13 billion in credit facilities to help finance the Twitter buyout

They are shown here. $12.5 billion was likely funded at close with undrawn $500mil revolver

1/

[Tim Bergin @onbeyondinvest]

Non-realistic, Friday night idea, Elliot, Apollo, other PE types join together and use their SPACs to buy Twitter debt at $0.60 on the dollar.

Effectively taking Twitter public again.

I would pay more than $8 for that...

@AndrewRangeley @Keubiko you guys in?

[Tim Bergin @onbeyondinvest]

@bkclaims @Biohazard3737 @crossdefault Whoa! You are going to be so busy Tom...

[Linette Lopez @lopezlinette]

How do I know so much about how @elonmusk does things? I spent 3 years investigating Tesla at @BusinessInsider from 2018-2021. Here are some of sloppy, dangerous, callous, things I learned:

[Tim Bergin @onbeyondinvest]

@JekyllCapital Thanks!