Irreverent financial market analysis/commentary with a focus on chapter 11 bankruptcy, restructuring & distressed investing. DYOR. NF-or-legal-A. Subscribe 👇
Joined October 2014
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Strongly considering starting a subreddit called "WallStreetDebts" to discuss:
📍Independent directors who are clearly not independent
📍PE shops' shameless div recaps and financial pillaging of balance sheets
📍Sh*tty lawyers who violate ethics on the reg.
📍Arrogant judges
Our very own Johnny dropped some thoughts here: petition11.com/p/biglaw-bust…
Pocket change for “Capital solutions” lawyers.
Seriously, what jobs are people working to afford $1.6 million homes with 6.5% mortgage rates, thousands in property taxes, and every other bill getting more expensive?
Are that many households really bringing in $450,000–$550,000 a year?
Because even with two good salaries, those monthly payments are wild.
I’m genuinely curious what these people do for a living, because apparently there’s an entire income bracket I’m not seeing.
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LIV Golf filed its chapter 11 bankruptcy on Sep 8. It was supposed to file a motion seeking approval of its restructuring support agreement with BC Credit 3 days later. Still nada. Saudi approval 10 days later. Still nada. 🤔
VCs over time.
2021: what's the next hot consumer product company reinventing and democratizing cookware?
2026: what's the next hot AI company that has a less than 10% chance of wiping out all of humanity by the end of the decade?
We've been highly critical of Sweetgreen lately ($SG). Apparently we haven't been critical enough.
Saddened to learn that Lovesac Company ($LOVE) doesn’t have any funded debt. Would have been fun to watch a dumbf*ck reaction to a social media post (by the riotous, Deric Cahil) take down, say, Ares, lol.
What’s funny is that “situational awareness” in the security context means perceiving, understanding, and predicting potential safety threats in your immediate environment and having exit contingencies. Not levering to the tits with zero risk management. Comical levels of irony.
We know there's a lot of talk about AI disrupting white collar jobs. But, for now, the growth over at $PJT, as just one example of an investment bank, has been impressive.
