Steak Pie Capital

[Steak Pie Capital @steakpiecapital]

@BornInvestor @wolfofharcourt @cperruna @Crussian17 @CulperResearch This fella

[Steak Pie Capital @steakpiecapital]

@Couch_Investor Yes would recommend. Useful for commuting. Narration standard varies hugely, I tend to find that books narrated by the author are best

[Steak Pie Capital @steakpiecapital]

@InvestmentTalkk

[Steak Pie Capital @steakpiecapital]

@BornInvestor Mkt will require a top-line beat for ID verification and biometrics if it’s to keep moving this way

[Steak Pie Capital @steakpiecapital]

@BornInvestor Just said this the other day. Relative strength!

[Steak Pie Capital @steakpiecapital]

@BornInvestor @TiernanRayTech You buying the basket?

[Steak Pie Capital @steakpiecapital]

@CasinoCapital We need a general election

[Steak Pie Capital @steakpiecapital]

One of Truss’s policies that’s slipping under the mainstream radar is proposing the Isreali Embassy moves to Jerusalem. Why??

[Steak Pie Capital @steakpiecapital]

@InvestmentTalkk Defo including fx when I review my performance this year

[Steak Pie Capital @steakpiecapital]

@InvestmentTalkk Oh and how could I miss $TDOC Participated in Teledoc and sea myself but thankfully small positions. Many lessons learnt

[Steak Pie Capital @steakpiecapital]

@InvestmentTalkk $PTON and $LMND maybe not consensus but popular. Genuinely believe they won’t be companies in 3y. $SE and $UPST were also popular but I don’t feel as strongly that their story is over.

[Steak Pie Capital @steakpiecapital]

@Kiwi_Investor @VagabondRTW @ArranGray9 @InvestmentTalkk Hahah someone got burnt on the way down

[Steak Pie Capital @steakpiecapital]

@ArranGray9 @Kiwi_Investor @InvestmentTalkk I understand how you think that, but it’s such a speculative thesis that it’s not really my cup of tea

[Steak Pie Capital @steakpiecapital]

Genuinely think the twitter adverts are getting worse

[Steak Pie Capital @steakpiecapital]

@Kiwi_Investor @ArranGray9 @InvestmentTalkk But surely your thesis is based on profitability at some point? So how do they get there and why doesn’t valuation matter

[Steak Pie Capital @steakpiecapital]

@Kiwi_Investor @ArranGray9 @InvestmentTalkk Even p/GP?

[Steak Pie Capital @steakpiecapital]

@ArranGray9 @Kiwi_Investor @InvestmentTalkk I said that sales multiples are, not sales itself. What are they on a GP, EBITDA,FCF, or E multiple?

[Steak Pie Capital @steakpiecapital]

@ArranGray9 @Kiwi_Investor @InvestmentTalkk Sales multiple is so irrelevant for an insurance company. How about on a GP or EBITDA basis?

[Steak Pie Capital @steakpiecapital]

@Kiwi_Investor @InvestmentTalkk A plethora of red flags to choose from management. Maybe I’m biased because it’s my best performing position and stock driving narrative, and I wish you the best with your investment, but it’s not for me.

[Steak Pie Capital @steakpiecapital]

@Kiwi_Investor @InvestmentTalkk But there is a reason that they were able to pay less than cash, right? It’s a cash burning machine and that cash pile is going to run out. Also negative margins heading the wrong direction at $LMND. Stock based comp > 50% rev too. 1/2