@Frazier_Cap

Every business has a price at which you should buy it. For some that price is negative.

Joined June 2018
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483Media
The Vinfast deSPAC seems like one of the boldest schemes to dumb worthless securities on retail I have seen in a long time (ever?). The company has a float of <<1% and is releasing shares from lock-up a month after the deSPAC and already plans to sell new equity.
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*"dump worthless securities" obviously, but not going to pay Elon for that
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For those that don't know the company: - 99% owned by vietnamese communist party connected tycoon - Negative $2.6b of equity for an auto OEM - Run-rate losses of $1.5-2b - $67m cash (06/30) before SPAC money - Incredible amount of related party transactions - Faulty products
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I really do hope the SEC does not approve their new F-1, because ever additional $ that goes into this is just gone
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"My grandfather rode a camel, my father rode a camel, I ride a Mercedes, my son rides a Land Rover, and my grandson is going to ride a Land Rover…but my great-grandson is going to have to ride a camel again."-ex. Emir of Dubai MBS working hard to make it a reality for the Saudis
James Benge@jamesbenge24 Jul 2023
Al Hilal offering €300m transfer fee to PSG. In addition to this they are prepared to offer Mbappe a salary package of €700m over one year, after which he would be free to depart for Real Madrid should he so wish.
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Why are big European multinationals with most of their revenues coming from outside the Eurozone (big fx tailwind) trading like they are going out of business compared to their US peers? $SAP $ADS $ADDYY
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I remember fintwit telling me that Bytedance was a 60% EBITDA business at the core and had better margins than $META, but even gross margins are not 60% and Q1 2022 was the first quarter with positive EBIT. wsj.com/articles/tiktok-pare…

WSJ News Exclusive | TikTok Parent ByteDance Sees Losses Swell in Push for Growth

The Beijing-based social-media giant saw its operating losses more than triple last year to above $7 billion as it spent heavily to continue its torrid growth.

wsj.com
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What is the long term bear case on the cheaper alts at current prices? $APO $KKR
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cc: @viggy_krishnan @1MainCapital @the_red_deer @bizalmanac @Cultivatewealth
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$FB Guided Incremental Margins vs. Realized Incremental Margins
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Freedom isn't free. Neither is stock based comp.
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The $ANGI numbers are atrocious any way I look at them. Most of the revenue growth is coming from accounting games and the total home roofing acquisition. Even the rebranding doesn't seem to go well.
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Assumption are 25% gross vs net for services, total roofing 100% gross vs net with half of Q3 services growth from acquistion (Q3 call) and some roofing seasonality in Q4. Also the January numbers published with the results are even worse.
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Why is everyone acting like $PYPL is screaming cheap here? Stop adjusting for SBC and apply a normal tax rate and it is trading at ~45x 2022 EPS even if you assume 20% growth + some operating leverage.
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And yes, SBC is a real expense just like it is not appropriate to model a low tax rate based on current financials if >90% of the value is in the out years.
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Jack does not care about shareholder value part 316 $SQ $TWTR xitter.cf/borrowed_ideas/status/…
Mostly Borrowed Ideas
@borrowed_ideas5 Nov 2021
Replying to @borrowed_ideas
6/ Analyst asked point blank whether SQ will allow other crypto trading or dabble into NFTs? The answer is no. "Our focus is on helping Bitcoin to become the native currency for the Internet."
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"GTV handily beat our expectations (39% organic) though lagging rival Clover at 47% organic (LSPD’s annualized GTV run rate is ~$75B vs. $196B for Clover)" - $FISV $LSPD
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What are the reasons these aren't an obvious long? $FISV $GPN
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"We expect our investment in Facebook Reality Labs to reduce our overall operating profit in 2021 by approximately $10 billion."
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