Special Situations 🌐 Research Newsletter (Jay)
@SpecialSitsNews • 144,588 subscribers
Managed $2B+ at Goldman. Education/Ideas: M&A Arb, Value+Catalyst, Growth, CEFs, REITs, Prefs, SPACs, Bonds, BK/Distressed. Discord team: https://t.co/Ix6dovncRx
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Will Smith eating spaghetti is the true test of AI $msft $goog $meta $nvda
Special Situations 🌐 Research Newsletter (Jay)13,074,205 Aufrufe • vor 5 Monaten
Chanos: The equity market is mispricing specialized AI "neoclouds" (e.g., $CRWV CoreWeave, $NBIS Nebius) by valuing them as high-multiple technology platforms. $NVDA $MSFT $GOOG In reality, their operational architecture mimics asset-heavy equipment leasing businesses. Stripping away the premium artificial intelligence narrative reveals a standard middleman infrastructure: these entities absorb massive debt to source graphics processing units (GPUs) from NVIDIA, wrap them in data center real estate, and lease that compute capacity to hyperscalers and enterprise clients. The underlying unit economics of these neoclouds reflect an asset-leasing risk profile rather than a scalable software model with a moat or barrier to entry. Where financial disclosures are discernable, these operators display modest, mid-to-high single-digit pre-tax returns on invested capital (ROIC). This return profile is highly vulnerable to aggressive economic depreciation. If an operator amortizes its capital base using an over-optimistic useful-life assumption (e.g., 6 to 7 years) while the actual utility of the underlying chips faces technological obsolescence within 3 years due to rapid silicon advancement, real economic ROIC trends toward 0%. The cash flow generation is structurally capped by the hardware's short competitive lifecycle. Over time, the market will discover this...
Special Situations 🌐 Research Newsletter (Jay)63,870 Aufrufe • vor 1 Monat
RBC trader explains how market makers like Citadel work…
Special Situations 🌐 Research Newsletter (Jay)257,415 Aufrufe • vor 9 Monaten
Japanese, who own $1 trillion of our debt are big fans now
Special Situations 🌐 Research Newsletter (Jay)119,755 Aufrufe • vor 1 Jahr
LeTron James $tsla $tm Toyota is one of many automakers investing in robotics. Its teams are building robots that learn tasks from data, adapt to changing spaces, and assist with physical work in homes, labs, and factories instead of relying only on fixed pre-programmed motions
Special Situations 🌐 Research Newsletter (Jay)27,829 Aufrufe • vor 2 Monaten
Good overview of all the products that come out of oil… $uso $uco
Special Situations 🌐 Research Newsletter (Jay)21,710 Aufrufe • vor 3 Monaten
CEO Dario Amodei of Anthropic states that the company supports 99% of the military applications but rejected the contract with the Pentagon because of the two “red lines” of fully autonomous weapons and domestic mass surveillance. $PLTR is likely for both…
Special Situations 🌐 Research Newsletter (Jay)11,707 Aufrufe • vor 2 Monaten
These are Trump’s spiritual advisors…nothing they are saying is actually in the Bible and they are not real Christians. They are just egging Trump on to be crazier and crazier. This passage has to be from: Exxon 3:16: the Father, the Son, and the Oily spirit
Special Situations 🌐 Research Newsletter (Jay)12,853 Aufrufe • vor 3 Monaten
This is pure comedy gold for the U.S. Secretary of the Treasury to call someone a brontosaurus with a walnut sized brain and imply he needs kneepads to do Soros bidding. Whether right or wrong, you be the judge, but this is better than any late-night comedy show...
Special Situations 🌐 Research Newsletter (Jay)17,159 Aufrufe • vor 5 Monaten
One of the 3 best characters on the show…
Special Situations 🌐 Research Newsletter (Jay)22,045 Aufrufe • vor 1 Jahr
