Everyone’s focused on the risk in hormuz, but I’m positioning for the workaround. Venezuela is the spare tire when it comes to oil. Everyone’s glued to maps of the strait of hormuz, gaming out “what if 20% of global oil gets choked off”. But I'm focused on where spare capacity lives (...venezuela) + how fast it can be brought online (if DC treats it as emergency policy). *If* the US is serious about price stability, the path of least resistance is to ramp venezuelan heavy crude. And I’m NOT trying to day trade $Colgate-Palmolive(CL)$ $United States Oil Fund LP(USO)$ headlines, I'm betting on the companies that benefit that venezuelan oil flow: $Chevron(CVX)$ ...only

The global economy is in the middle of the largest technology revolution in human history, as AI promises to change the world as we know it. However, if we want AI to be able to do more than just create silly cat videos, it needs to be properly trained on lots of high-quality data. Furthermore, for this data to be processed, the world needs to build more data centers than it has ever built before! Researchers at McKinsey forecast that by 2030, data center capex will reach $7T and capacity will almost triple to 219 GW! To meet this insatiable demand for computing power, capacity will come from clever and previously overlooked places. And increasingly, a trend has emerged of bitcoin mining companies turning into AI data center businesses. For years, aspiring crypto entrepreneurs built ever l

$IREN Ltd(IREN)$ didn't dilute its shareholders by 50%. I have seen some accounts state as a fact that they did. They filed a document stating that they have an intention to raise $6B, not that they have already done so. This is not an immediate sale. There is also a misunderstanding of what this cash is meant for. This is not to serve the $Microsoft(MSFT)$ contract. They will likely use this facility throughout the year as the share price rises. IREN doesn’t have an immediate need for cash, current needs for the Microsoft contract and Sweeteater energization are funded. Also, the recently announced purchase of GPUs will be funded with GPU financing, the same as for the MSFT contract. These funds will go

$RDDT looks redd-y. Sorry that was bad. Little rusty on the oneliners. Anyways. $RDDT got looped into the "ai doomer" story. But she has a very interesting catalyst. Reddit already licenses data to ai labs like openAI + goolge (generates almost $150M from this). AI companies need $RDDT for human conversation data. Future customers could include anthropic, meta, and apple. Reddit knows their value, so it's suing a few AI companies (including anthropic) for illegal scraping of data. And there's a hidden catalyst. $Reddit(RDDT)$ 's current AI licensing deals were signed in 2024. - $Alphabet(GOOG)$ ~$60M/year - OpenAI ~$70M/year But AI demand for training data has *exploded* since then. My theory is: > cur

My thoughts on $Root, Inc.(ROOT)$ Long term, I see a great future for the company. Insurance is a huge vertical that hasn't been as disrupted as other segments of the financial services industry, largely because of the complexity. That said, currently the market doesn't like companies in an "Investment period". We saw that with $Nu Holdings Ltd.(NU)$ , which saw its stock fall 10% after saying that "2026 will be an investment year". Root said similarly that net income will decline in 2026. Essentially, Root is investing a lot in AI, R&D, and embedded partnerships to compete with the larger and well-established insurance companies. They also guided for higher loss ratios as they expand to new states. Whi

Don't panic during the War volatility! 6 Cheap Stocks with Improving Operating Leverage! 1/ $SoFi Technologies Inc.(SOFI)$ $SOFI is down 29% YTD, despite strong growth and improving operating leverage, trading for FWD P/E 31, whilst growing top-line at 30%+ per year. All segments are delivering: - Lending Revenue $434M ➡️ $1.85B - Tech Platform $1M ➡️ $450M - Financial Services $4M ➡️ $1.54B - Pre-Tax Profits -$329M ➡️ $526M $SOFI platform brings all key financial services together in a single, user-friendly interface, a one-stop shop for its members. The platform also uses data and AI to provide personalized insights, helping people make better financial decisions instantly. Simply put, its technology provides a better, more affordable user exper

SpaceX valued at $1.75T. $Rocket Lab USA, Inc.(RKLB)$ valued at $38B. Just 2.2% of SpaceX's valuation. SpaceX is 46x bigger. Saw @aleabitoreddit mention RKLB being one of SpaceX's largest public competitors. SpaceX is like the mature older brother...profitable, dominant, much bigger. RKLB is the little brother...smaller, not yet profitable, but building its own ecosystem of space systems + connectivity. Nevertheless, starting to look a lot like its big bro. Feel like it's becoming the best way to own a “mini spaceX” and capitalize on the run up anticipation phase into the IPO. If big brother IPOs anywhere near $1.75T, and little brother is only 2.2% of that...either SpaceX is wildly overvalued (no), or RKLB is wildly undervalued (yes imo). Thinkin

Potential trade of the year can be $Energy Fuels(UUUU)$ ...and I've been aggressively adding. Here's what I'm seeing. The world is fighting over uranium (and nuclear capabilities) right now. > One year ago, UUUU's CEO was openly talking about "working together" with the new administration (Trump2). Gov't admin's goal has clearly been to "reshore critical minerals". > Department of Energy announces $2.7B in funding to strengthen American uranium enrichment in January. This is HUGE (and recent). > USA / Iran negotiations remain deadlocked... specifically on uranium enrichment + stockpiles, both sides are using enrichment as leverage. It's becoming strategic again. > Just a year ago, kobeissiletter also reported that "ai demand is driving

My exposure is concentrated into a few themes at the moment. 1) Space + Rockets > focus name = $Rocket Lab USA, Inc.(RKLB)$ catalyst is spacex ipo 2) Uranium > focus name = $Energy Fuels(UUUU)$ catalyst is iran/usa nuclear conflict, DoE's $2.7B funding for uranium enrichment, + powering datacenters 3) Stablecoins > focus name = $Circle Internet Corp.(CRCL)$ catalyst is global stablecoin adoption + deepening integrations with major banks, payment networks, tokenization platforms 4) Memory > focus name = $Micron Technology(MU)$ catalyst is dram/hbm being a legit ai bottleneck 5) Drones (military) > focus name

Some of you already know that 2026 has been brutal for Software-as-a-Service companies, as investors fear AI-driven disruption will lead to a slowdown in growth. $Zeta Global Holdings Corp.(ZETA)$ ’s stock was pulled down in this panic, being down 38% before earnings, from its January high. However, that didn’t make much sense, as the company doesn’t offer simple commoditized software on a per-seat subscription basis. Zeta is a clear AI winner, and the market is starting to accept this reality, as the stock has jumped over 20% since the Q4 2025 earnings release. Revenue $395M +25.4% vs $379M estimate. ADJ EBITDA $95M +35.7% vs $91M. ADJ EBIT $75M +40.7% vs $72M. ADJ EPS $0.28 +43% vs $0.23. GAAP Net income of $6.5M. FCF $61M +90% vs $49M. These we

Yesterday, $Nu Holdings Ltd.(NU)$ bank reported earnings, and they were again excellent, with the Brazilian fintech executing across all verticals. Total revenues +56.8% to $4.7B, beating the $4.5B estimate by 3.6%. Net income +62.6% to $898.5M. EPS +60.2%, meeting the estimate of $0.18. ARPU +40.2% to $15. Cost per ARPU remained stable at 80 cents. The number of customers increased by 4M, +14.7%, to 131M. Yet, the stock is down 6% in after-hours, so there was clearly something that the market didn’t like. After going through the results and listening to the earnings call, I believe I have identified 4 key reasons the stock is falling: 1. Regulatory headwind with secured loans in Brazil. 2. One-off cost in Mexico. 3. “Investment Year” guidance. 4. N

$Salesforce.com(CRM)$ is not cheap! Just because it trades for the lowest P/FCF multiple ever at 12, doesn't mean it's a buy! 1) Historical multiples are backward-looking. There is a reason that CRM traded for 38x P/FCF in 2018. They were growing top-line at 25%, and EBIT margin was at 4%. There was a lot of potential for growth and margin expansion. 2) P/FCF is not actually 12, because SBC is 8.5% of revenues, about the same as in 2018. It was one thing to have SBC when you are growing at 25% and completely another when you can't crack 10%. 3) Adjusting for SBC, P/FCF is actually 16. SBC eats away 23% of FCF. 4) Acquisitions are stinkers, $58B of Goodwill - $8B for Informatica - $15.7B for Tableau - $27.7B for Slack The company doesn't have a reco

$AppLovin Corporation(APP)$ is down 20%+ 🔴 Yet, Growth is INCREDIBLE, Margins are out of this world, and Global TAM is $1T+. Here is my $APP Investment Thesis: 1/ What does $APP do? Listen to the CEO explain it. It is simple: “Half the money I spend on advertising is wasted, the trouble is, I don’t know which half.” $APP sells an answer to this old advertising dilemma. AppLovin is an AI-based advertising platform that's focused on mobile apps but is expanding to WEB and Streaming. 2/ AppDiscovery $APP AXON AI engine uses sophisticated AI models trained on billions of anonymized device interactions to find the best place for ads to maximise ROI. This service carefully analyses the advertised app and then uses AXON's predictive algorithms to help adv

By now, everyone and their grandmother knows that the world is experiencing a once-in-a-century AI-driven technological revolution. However, if we want AI to be able to do more than just create silly cat videos, it needs to be properly trained on lots of high-quality data. Furthermore, for this data to be processed, the world needs to build more data centers than it has ever built before! Researchers at McKinsey forecast that by 2030, data center capex will reach $7T and data center capacity will almost triple to 219 GW! To meet this insatiable demand for computing power, capacity will come from clever and previously overlooked places. And increasingly, a trend has emerged of bitcoin mining companies turning into AI data center businesses. For years, aspiring crypto entrepreneurs built eve