Nearly everyone I speak to about this has strong opinions — either thinking it’s the greatest investment opportunity in a lifetime or a bubble. It’s important to have diverse views on this trade, as a whole, lest there would be no wall of worry to climb.I’m of course in the former group — thinking ahead...Read More

We gained +138bps in an illustrious session. After the close, datacenter construction play $FIX smashed numbers and is jogging higher. We have representation via PRIM. Early this morning, shares of BX collapsed, post numbers, taking down the rest of the “private credit” cabal, which is where the frontlines are being fought. The tale of two...Read More

I blame GEV for what transpired today. Here is the recap:GE Vernova Q3 2025 Earnings Call GuidanceProlec GE Revenue: Expected to grow from $3B in 2025 to over $4B in 2028. Prolec GE EBITDA: Expected to grow to over $1B in 2028. GE Vernova Revenue: Trending towards the higher end of $36B to $37B guidance...Read More

Over 300 stocks traded down more than 3% today, with most of the bloodletting inside the frothiest of sectors: nuclear, degenerate AI, flying cars, China, AI utilities, and gold. Peering out to the most popular stocks you’d think markets were down big today. Au contraire — the rotation was nearly perfect and the SPY closed...Read More

We have a 1% sized position in EOSE, up 30% from basis. The stock is trading ~$15, was recently $18, but may in fact trade much higher over the next year, amidst some volatility. The potential downside could come from dilution and/or general sector decline, or perhaps yanking of govt tax subsidies. However, all things...Read More