Sausage King 007

@dirtcheapbanks Wondering why $AGM is up almost 10% since 3/1

Watch banks that are heavy in agriculture loans. Could be some cheap deals soon.

@DilksJay Agree on Abel’s performance; just wish he had a stronger and more concise answer to the high school climate activist. Could have presented a balanced response around significant BHE clean energy investments and current state economics / resiliency of clean energy alternatives.

After sleeping on Greg Abel’s performance, nothing has changed from my assessment 1 hour into it. The depth and speed of the business segments was better than we have been getting for at least a decade if we are being honest. Below I’ll attach my initial assessment that a lot of people agreed with in the moment. One huge opportunity for the future is “What do we do with $200 Billion of the nearly $400 Billion. I had sort of a throw away comment to @GSpier @MohnishPabrai and Li Lu that I wish they could manage $100 Billion. After sleeping on it, I think the after lunch segment with these 3 speaking about their investment choices would be must see interactions. What I’m suggesting is that this would be their Full-time Job. With 100% control of the investments. Greg Abel is a fantastic Operator. Let him be that. I could be wrong @WilliamGreen72 but these 3 have Charlie and Warren DNA embedded in their brains for stock picking. The amount they could manage is very interesting and formidable. My expectations would be that they come up with about 5 great ideas per year that they could pitch to each other, find consensus and make them top 20 ideas by weight. If 1 out of 5 becomes a top 3 holding over 5 years by gains, that’s great. They also have to prune their ideas in the future. Over a rolling 5 year period, it becomes about 20 holdings that they settle on for “Hold Forever”. Warren Buffet joked that he was waiting for a Call from an Elephant and I’m suggesting Guy, Mohnish and Li call him and Greg and just do it. $BRK.B

@ohcapideas Yes, and then hopefully Simon can drive stronger than (recent) trend results with insurance.

$MKL had kind of a mixed quarter. I think the losses in the equity portfolio were higher than people were expecting. They own a lot of $BRK and $BAM, which underperformed. There were also some structural reasons why premium volume declined. But, insurance profitability looked like it's still improving with a 93% CR (including 2 pts from Middle East) and the operating businesses are still performing well. They also bought back more than $130 million in stock. Reaction seems really overdone. Even with book value declining modestly, trading this morning at ~1.25x book. Should likely perform pretty well over time from that valuation.

@FishtownCap @Stlbeerman68 It was in the mid 30’s 10 years ago. Did it hold it back then?

@Stlbeerman68 Agree and I've spoken directly with ET IR and told them exactly this!

$ET Energy Transfer While everything NG is popping this is still $19. $9 billion in DCF on a $64 billion market cap, irreplaceable NA based assets that are just getting more valuable, investing heavily in natural gas. This should be $25.

@nvrbstoppdd @kenzianidiot Lies people tell themselves to feel better about their own shitty situation / poorly run state.

@kenzianidiot Of course it had to be in Florida and only Florida because thats where all the maga shitheads that would buy this live lol

this is literally in a florida grocery store. like what are we even doing man.

@coldcallsniper I thought the 6:40 starts (at least with CHC) are due to the school year still in session, once school is out for the summer the games start a bit after 7.

I don’t understand is 6:40 pm starts on weekdays on the east coast. They said they did it so games don’t go later, but all it does is make most people miss first pitch. If you’re getting off work and 5pm those 30 mins are extremely important. Don’t see a real reason for it

@TraceyRyniec May want to consider George Michael in that group.

It's hard to believe she is nearly 70. Madonna is the only survivor of the 80s pop legends: Michael, Prince and her.

@LeighGiangreco lol, other than his affinity for illegal immigration run amok, the pope is more socially conservative than an 80’s style republican

Spotted in Roscoe Village: a Vatican flag hung in the window of a 2-flat. The frat bros are shifting their allegiances

@SenatorBaldwin Someone in a high office is finally doing something to kneecap China and Iran. The fact that it’s happening simultaneously is even better!

What will it take for my Republican colleagues to step up, do their jobs, and join us to end Trump’s illegal war of choice?

@30AMacro @biancoresearch Classic!

@biancoresearch He killed their incentive to win.

The Mets are now 0-10 since this happened.

@TomasK45 @NYCerInExile @peterawolf Yes, forgot about that.

@007Sausage @NYCerInExile @peterawolf That, and the Feds made them do it or they would lose the Red Line funding

Was just talking to a Canadian lawyer who moved to Chicago with his husband after spending much of their lives in San Francisco, and it was kinda surreal hearing him gush about how much better Chicago’s public services and local governance are compared to SF (and CA generally).

@TomasK45 @NYCerInExile @peterawolf Mayor up for re-election lol

@NYCerInExile @peterawolf And now that us getting better too

@CaseyMericle In Hoc!

New hire Matthews jr brokers warmin’ up before their 6 AM EST cold calling list

@murphy_thom @nickgerli1 The prior 30 March months didn’t have any cold blasts in the month prior??

@nickgerli1 Dude, you aren't that stupid. Closings in March are from deals that went under contract in Jan and Feb. We all know 1/2 the country was under a deep freeze and snow for the majority of the those 2 months.

The U.S. Housing Market is in a full-fledged depression. Existing sales in March just hit their 2nd lowest level ever for the month, behind only 2009. Not only that - sales volumes are down 25% from pre-pandemic norms and continue to drop YoY. Why is this happening? Simple: sky-high prices. Even though values are starting to drop in many markets, overall price levels remain disconnected from what buyers can pay. So they're not buying. A concerning signal for the Spring/Summer housing market. Sellers better get ready to cut the price. To track sales for your city, download Reventure and hit Home Sales Surplus/Deficit: reventure.app/mobile

@GroundbreakerRe Good stuff!

Our new Part 1 report on $REXR is now available to the public! Deep dive into the NAV and upside. Link is below

@CTULocal1 @uchicagogsu This makes no sense. Focus on the students, not complaining about enforcement of federal law.

Matthew King, President of @uchicagogsu, spoke to how workers are organizing to protect each other in real time from Trump’s ICE regime. From rapid response to organizing on campus, that work is already happening. That’s how communities stay safe. Join us for May Day 2026. #MayDay2026 #NoWorkNoSchoolNoShopping

@REIT_REBORN Activist investor involved pushing for property sales and share buybacks at depressed prices. All up from here.

anyone have a view on $REXR here? Stock has been left for dead YTD and I understand all the issues/headwinds but they seem fairly priced at 33 bucks. Time to long?

@tonythearena @ReitBros @Ramrulez1 Elliot!

I dont see a value trap if they can continue to harvest properties and buy in stock. The spread from NAV to private value is to large. The longer that arb holds I think the better long term. I hope they can sell another 200MM in properties at these rates and finish the buyback.

@CTULocal1 This has got to be a joke?!?!

This morning, a broad coalition of labor and community organizations came together to call for an Economic Blackout on May 1st and Chicago is ready. From CTU to the Chicago Federation of Labor, Indivisible Chicago, SEIU HCII, ICIRR, and more—this is what it looks like when organized labor and organized communities come together. On May Day, we act. No work. No school. No shopping. We’ll see you there. #MayDay2026 #EconomicBlackout

@CTULocal1 Losers

On May 1, 2026, we take action, together. Through our collective bargaining, we secured the ability to stand united on May Day with No School. No Work. No Shopping. Now, we build community, engage democracy and rally with workers, students, and families to demand a city that puts people over profit.