Will VDM (“The Rhodesian”)

Amateur quant & macro tourist

[Will VDM (“The Rhodesian”) @riskarbitrage_]

OCT: +54bps
YTD: +12bps

October was a tough market across all asset classes. Our model was moderately positive during the period.

https://t.co/Ix5q7LdoWu

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@ValueStockGeek Yes. Diversification is the only free lunch

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@2ears2wheels He didn’t really say anything interesting. Just a bunch of blab

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@Alpha_Fox11 @BerkelKip I get to 12% IRR over 10 years in my model. I think the CSU team and culture might deliver a 12% for a long time outperforming meaningfully over multiple cycles

RBCs model has EBITDA growing 20% for the next 2 yrs and is more aggressive than mine so my 12% 10yr IRR could be low

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@PHfloor I wish we were actually 4 million short

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@deepvalueco @Richard15322800 @agnchls I’ve owned this in the past and sold the small remainder I had left, yesterday. Actually made $ but extremely volatile path. NOI doesn’t seem to go up even though they have acquisition and dev pipe.

Don’t follow the name close enough to understand why NOI isnt growing

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@Richard15322800 @deepvalueco @agnchls Completely agree. REIT investors accept a terrible governance model & own mostly crappy assets in exchange for preferential tax treatment.

It might work except MGMT frequently knee caps you and better long duration assets are available with superior governance and TSR

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@conorsvan1 That would be too easy

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@RafeefGarbi @MarkJCarney That didn’t happen

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@jesse_kleine What about new builds ? Any preference for staging or not in that market ?

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@UnstructuredCap You start buying SMBs

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@DilksJay @Re_Own What do you think of https://t.co/lnD3560Cy9 ?

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@Invesquotes @deepvalueco How mid-priced do you think $CSU.TO is here given the move off the lows earlier in the year and where other software peers trade ?

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@Invesquotes Execution has been strong YTD. I’m curious, what long term returns are you modeling for CSU from these levels as the stock price has recovered?

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@rarestbarbie Yes….this seems to basically equate revenue and expenses and then just throw the residual deficit into its own pile as if it’s not related to the revenue/spending which is obviously is. Terrible model !

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@TFCNU2 @Mill_Moron @orshick You’re just obsessed over edge cases

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@Lanefab What is the going in cap rate or return on cost on these ?

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@JudeClimacus Long FFH, CSU along with QQQ has actually been quite a nice portfolio for me YTD

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@dollarsanddata People don’t understand that financial assets trade at a discount to future cashflow and you can quite literally own Beta and earn that discount rate as cash flows materialize and the value accretes

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@ValueStockGeek 1000000% sir

[Will VDM (“The Rhodesian”) @riskarbitrage_]

@jbulltard1 Pivotal lows not in. $NYMO / $NAMO oscillators aren’t even close to being over sold