Special Situations 🌐 Research Newsletter (Jay)
@SpecialSitsNews • 145,887 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)13,088,122 views • 8 months ago
Trump interview on Hormuz today live
Special Situations 🌐 Research Newsletter (Jay)406,115 views • 1 month ago
Trump on AI risks being overblown, to some extent true $nvda
Special Situations 🌐 Research Newsletter (Jay)220,173 views • 22 days ago
7 ft, 360 lbs, 0.5 inch vertical, but 99.9pct accuracy. Legendary.
Special Situations 🌐 Research Newsletter (Jay)1,592,647 views • 2 years ago
These are going way too hard now
Special Situations 🌐 Research Newsletter (Jay)38,692 views • 23 days ago
RBC trader explains how market makers like Citadel work…
Special Situations 🌐 Research Newsletter (Jay)258,215 views • 1 year ago
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)64,302 views • 4 months ago
Japanese, who own $1 trillion of our debt are big fans now
Special Situations 🌐 Research Newsletter (Jay)119,755 views • 1 year ago
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 views • 5 months ago
In Russia, this is how they train for badminton tournaments
Special Situations 🌐 Research Newsletter (Jay)16,156 views • 3 months ago
