First let’s discuss VRT numbers, out this morning.Vertiv beats by $0.12, beats on revs; guides Q3 EPS in-line, revs above consensus; raises FY25 guidance  (142.70 +0.15)Reports Q2 (Jun) earnings of $0.95 per share, excluding non-recurring items, $0.12 better than the FactSet Consensus of $0.83; revenues rose 35.1% year/year to $2.64 bln vs the $2.35 bln FactSet Consensus. Orders momentum remained...Read More

Rough day on Wall. Over 230 stocks knifed lower by 3% or more, several of which we’re long. The big one was SPOT, dropped ~10% following an earnings miss. Reports Q2 (Jun) loss of €0.42 per share, may not be comparable to the FactSet Consensus of €1.98; revenues rose 10.1% year/year to €4.19 bln vs...Read More

I spent some of my afternoon catching up on screens and notable conference calls. The one that stood out was FIX — execs practically giddy on the call — elated about the good times in construction especially when it comes to datacenters. One made a joke about any job that rhymes with “datacenter” is a...Read More

My sojourn to NYC is nearly complete. I spent much of the day cavorting Scarsdale and upper Manhattan, currently staying in Tuckahoe. It has been a profitable trip too, with portfolio gains in excess of +230bps for the week, +73bps today alone. The market has been accommodative with parts bordering on froth, especially in the...Read More

We cannot have good things without the power to make them go. The datacenter story has been the most talked about trade since Web 1.0. In order to get all of those CRWV, NBIS, AMZN, MSFT, GOOGL centers up — we’re going to need more power. IMPORTANT news out of the PJM auctions yesterday.Biggest US...Read More