Sextant

[Sextant @simcity31]

@italianinvesto Not a value investor

[Sextant @simcity31]

@mmlionfund Not a value investor.

[Sextant @simcity31]

@TidefallCapital Not a value investor

[Sextant @simcity31]

@CorneliaLake Pet peeve: Terry Smith is not and hasn’t been a value investor for a while. It might’ve been how he started (back when value help raised capital), and he might have marketed himself as such for a while after, but watching his portfolio since he got X’famous it’s clear he’s not

[Sextant @simcity31]

@rubicon59 Which part, the first or the second? He’s perfectly hedged!

[Sextant @simcity31]

@dalibali2 Food deliveries, grocery deliveries, “physical AI”, OnlyFans, fight clubs

[Sextant @simcity31]

@HighyieldHarry That’s bit much. They were in the right place at the right time with the right skill sets, sure. Eisman and his fund back then were financial specialists. They have bad takes on tech, but calling the GFC CDS bet as lucky is a bad take itself

[Sextant @simcity31]

@michaeljburry $CHTR is next

[Sextant @simcity31]

@PythiaR I’ll never forget the guy that told me nail fungus was going to the moon and he had 10% of his portfolio in it.

[Sextant @simcity31]

@illyquid Who the f buys semi cap tools for the “safety and environmental performance”????

[Sextant @simcity31]

@Mr_Neutral_Man These things are pretty maintenance capex intensive right? Wouldn’t EBITDA be a bit problematic?
Agree this asset class is tough, it’s real estate but not really because so operationally intensive. Closest to a hotel but much more nuanced?

[Sextant @simcity31]

Value begets value only if you can dump the “value” on to a retail cult…

[Bill Ackman @BillAckman]

One of the things that makes @SpaceX so valuable is how valuable it is. The Cursor acquisition costs materially less in dilution because of SpaceX’s high valuation.

SpaceX’s ability to do economically, strategically, and technologically accretive acquisitions is an important component of its value.

There is enormous value inherent to a company with a high value particularly when it is controlled by an entrepreneur that the most talented people want to work for and partner with.

Value begets value.

Talent begets talent.

[Sextant @simcity31]

@willis_cap @CapitalObserver With construction cost inflation over the last few years, fiber build cost is probably north of $1500/passing. Then you still have connect cost AND you still have to find customers. $1.1k per passing, with most connected, AND an existing customer base is a much better alternative

[Sextant @simcity31]

@HighyieldHarry @compound248 “Regardless of how this ends”
Why hedge?

[Sextant @simcity31]

@John_Hempton It didn’t came up with the nuanced answer, you did. It just mirrored your chain of thought and highlighted it for you

[Sextant @simcity31]

@BSacamanoV But did you listen, anon?

[Sextant @simcity31]

@negligible_cap I guess we all just moved on and forgot about this

https://t.co/np7rYqYZpF

[Sextant @simcity31]

@YellowCatCap It’s funny because mgmt clearly know it’s bad and that’s why all the trades are routed through wives and in-laws.

[Sextant @simcity31]

@litcapital Facts never stopped banks from making up the x times oversubscribe number 😂