To read the initial piece we wrote on $NBIS, "From Russia, with Cash", click here: crossroadscap.io/insights/from-…
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Crossroads Capital
222 posts
Crossroads Capital
@CrossroadsOnX
Crossroads Capital is a value-oriented long/short equity fund manager focused on mispriced emerging compounders and special situations. Founder/PM @AboveAvgOdds
Overland Park, KS Beigetreten Haziran 2024
61 Folgt3.4K Follower
Thank you to @maxwiethe and @JackFarley96 for having @AboveAvgOdds on @MTSlive to talk with Ryan about our original thesis on $NBIS, how that thesis has developed, and the broader neocloud landscape.
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Check out the full piece here: crossroadscap.io/insights/compa…
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There's a lot to unpack in the world of satellite connectivity, but our recent piece on the difference between Starlink and $ASTS may be helpful in better understanding that there are levels to the space race.
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The thesis on $SPCX has changed overthe years, with recent attention on the company's AI push (despite the massive cash burn). It's worth remembering that satellite connectivity is the primary revenue driver for the company.
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Our May 2026 tear sheet is now available.
In May the fund returned +8.82% net of fees, bringing the YTD net return to +14.1% & since inception CAGR to +17.9%.
Accredited investors can sign up for updates here crossroadscap.io/contact-us
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In our favorite asset class (small-cap value) in particular, valuation spreads are wide and IV is high. In uncertain markets, here's our commentary from Q1: crossroadscap.io/investor-lette… (4/4)
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And so my lesson to all of you is conduct your life so that you can handle the 50% decline with aplomb and grace. Don’t try to avoid it. (applause) It will come. In fact I would say if it doesn’t come, you’re not being aggressive enough." (3/4)
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Volatility ought to be considered not only normal, but a friend. It serves as a useful reminder that drawdowns, caused by sector or broader market noise, are not the same as permanent loss of capital so long as the business fundamentals remain intact. (1/4)
Brian Feroldi@BrianFeroldi
Peter Lynch returned 29% annually between 1977 - 1990, turning $10k into ~$260k During that AMAZING run, his fund dropped: → 10%: 15 times → 15%: 6 times → 20%:4 times → 35%: 1 time AND was below its recent high more than 50% of the time. Volatility is normal.
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Crossroads Capital retweetet
Boom 🛫 🙌🏼 ✈️ !! $MRLN
Merlin Successfully Completes Critical Design Review for C-130J Autonomy Program with USSOCOM globenewswire.com/news-release/2…
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A huge thank you to Emerson Farrell, Founder and CEO of Zeus Red, and Anubhav Raj, CIO of Aligned Data Centers, who spoke on the broad AI landscape, along with the continual bottleneck...power. Sign up for more insights from our team here: crossroadscap.io/insights (2)
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We had the opportunity to attend our second Roundtable Forum in Dallas, and met some incredible allocators and fellow managers. Thank you to Jane Halsey and the team at Roundtable Forum for putting together another great event.
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And a timely read as the Clarity Act moves to the Senate floor. The upside attached to the bank-backed tokenized deposits offered by $VBNK is tied to how this legislation pans out: crossroadscap.io/insights/versa…
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“Stablecoins may improve speed and convenience, but they also repackage classic banking risks under a newer label.”
An interesting read on the essential role of confidence in money movement. wsj.com/finance/curren…
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We described the Q1 market as "in a state of suspended animation" in which continual macro uncertainty and constant noise paralyzed the average investor. Our full commentary here: crossroadscap.io/investor-lette…
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2/ The above image is an excerpt from the letter. We encourage everyone to read the letter in its entirety including important footnotes and disclaimers.
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1/ Our Q1 2026 investor letter is now available: crossroadscap.io/investor-lette…
In Q1 the Fund returned +4.2% bringing the Fund's since inception CAGR to 17.1%.
Accredited investors can sign up to receive fund updates here: crossroadscap.io/contact-us
Follow us @CrossroadsOnX
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The point is simply to stress the importance of the directional orientation of valuation. Here's our full piece on how we think about value: crossroadscap.io/insights/what-…
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Even in January, after being up ~500%, the stock was still trading at a forward P/E of <5.
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