Daniel Drew

[Daniel Drew @repo106]

@chloe_hime7 No one’s that rich

[Daniel Drew @repo106]

@stoked_on_waves @JDVance States are not gerrymandering, they are not arbitrary lines draw on a map. They are the fundamental entities responsible for most government within the *United States*

[Daniel Drew @repo106]

@DoctorOfBeasts @ClarkSquareCap GLRE’s performance has been terrible because its investment portfolio has been terrible. Insurer investment portfolios aren’t supposed to have down 20% (2018) and 30% (2015) years. But unsurprising with a guy who spent a decade shorting AMZN at the helm 😂

[Daniel Drew @repo106]

@LosGatosTrader @ClarkSquareCap Hi David - GLRE’s performance has been terrible because its investment portfolio has been terrible. Insurer investment portfolios aren’t supposed to have down 20% (2018) and 30% (2015) years. But unsurprising with a guy who spent a decade shorting AMZN at the helm 😂

[Daniel Drew @repo106]

@DoctorOfBeasts @ClarkSquareCap Ah, weird - must be a different David Einhorn that’s Chairman of the Board 😂

[Daniel Drew @repo106]

@thetiponeill @ClarkSquareCap Ah, weird - must be a different David Einhorn that’s Chairman of the Board 😂

[Daniel Drew @repo106]

@HedgeyeDJ years to mature), you’d have ~1.7tn / year in int exp vs population of 330mm = ~$5k / year per. It does look much worse if you use labor force vs total population though

[Daniel Drew @repo106]

@HedgeyeDJ I hate the ever increasing and incredibly wasteful US deficits as much as anyone, but don’t follow your math. Even if all $33tn of US debt was refi’ed at 5% (in actuality, it’s primarily fixed and the overwhelming majority was issued before the recent rate move and will take

[Daniel Drew @repo106]

@austin_rief I’d imagine DTV’s gotta be right up there, along with AOL

[Daniel Drew @repo106]

@LongShortTrader The government (taxpayer) is the debt capital.

[Daniel Drew @repo106]

@SirBaby6 I love $MTN, but the bond is 150bps wide of AAPL lol

[Daniel Drew @repo106]

@Bonhoeffer_KDS @Fritz844 Yes it makes sense. In war, production wins and not money

[Sahil Khetpal @skhetpal]

An inside view of a $30 billion hedge fund that you might not have even heard of: Select Equity

In this thread I’ll go over the fund’s story, their investment strategy, historical returns, couple of their actual stock pitches, and the current holdings in their portfolio 👇

[Joe Pompliano @JoePompliano]

The intelligence of an elected official in 4 photos:

[Daniel Drew @repo106]

@EngineerBTC @twobitidiot Assuming they have other gains to use to offset the losses… which they probably will not

[Daniel Drew @repo106]

@liensofnewyork @modestproposal1 If all you need to value NFLX is a chart of its EPS trajectory, then by all means.

[Daniel Drew @repo106]

@liensofnewyork @modestproposal1 IC is backwards looking. OP isn’t saying that NFLX trades where it does because it’s ROIC is a few points higher than peers. ROICs are clearly on a different trajectory, and have moved one way - this is notable

[Daniel Drew @repo106]

@liensofnewyork @modestproposal1 Perhaps content’s useful life isn’t as long as you’d think… in any case, my point was that your heuristic of high P/B = ROIC is irrelevant is incorrect. I don’t have good reason to believe that NFLX’s accounting misrepresents fundamental returns, but that wasn’t my initial point

[Daniel Drew @repo106]

@liensofnewyork @modestproposal1 Your position now is that what's expensed should have been capitalized? If not, where did all the other investment go (if not to the balance sheet)? If it's not a capital light business (which I think we both agree this isn't), returns on capital are important