EnronHubbard

“Tell him to enter the password he knows is correct. Inform him it is incorrect. Invite him to reset it. Watch as he enters the password he believed it to be all along. Then tell him he cannot use it… because it is his current password.”

@intapp Thank you. I am not sure that I am, but my firm probably is. What is the Intapp client community and how can I find it?

@Enron__Hubbard Are you a member of the Intapp client community? If so, you can file your feedback there.

@intapp the new UI on Conflicts looks terrible! It's harder to read and looks like it's from 2010. Any chance you could ctrl+z on that?

@martyrdison this but eating disorder

it’s heartbreaking watching good people slowly disappear into alcohol slowly over time it consumes their entire life takes their energy, clarity, relationships, and most importantly their sense of self you sit there knowing they’re in there somewhere, but less reachable every time once you see it, it’s up to you to decide how you want to engage with it get involved, or step back and watch them slowly drink themselves away and the hardest part is realizing you can’t want their life back more than they do

@bendreyfuss A Screwdriver with really good orange juice is a far superior morning drink than the bloody mary OR the so-called 'mimosa'

The saddest people are people who don’t like Bloody Marys. What’s not to like? V8? Lemon juice? Tabasco? Alcohol? Ice?? Maybe the greatest starting line up of all time. The sixth man on this team is worcestershire sauce, one of history’s most popular condiments.

@buccocapital @EmperorChud_ Sure, they raised prices too much too fast, but the reaction is overblown IMO. Business is not going anywhere and it's not like prices are static. They can *gasp* lower them again to be a bit more competitive.

@EmperorChud_ Do you realize how stupid that sequence of events is?

60% drawdown. Thanks for playing

@AxonRick Hi Rick, shareholder here. In Italian soccer one of the cameras is a body-worn "ref cam". The broadcast sometimes cuts to it. How about outbidding/outperforming whatever offering they are currently using? Every Euro police chief watches soccer. Talk about mindshare.

Robert is thirty-six years old. In 1247, this is not young. Robert knows this. His knees know this. His back has known this since approximately 1239. Robert lives in a village in Worcestershire with his wife Agnes, three surviving children, and two chickens he is not allowed to eat because the chickens produce eggs and the eggs matter more than the chickens. Today is a Tuesday in March. Robert will describe it as a Tuesday in March. The concept of a 'week' as a unit of leisure is not yet something Robert has access to. 5:00am - Up. Pottage on the fire. The pottage is oats, leeks, and some dried parsnip from the autumn store. There is a small piece of salted pork in it, approximately the size of Robert's thumb. It is mostly flavouring. Robert eats around it for as long as possible, then eats it, then thinks about it for the rest of the morning. 6:00am - Field. Robert works the lord's strip first, then his own. The ground is still cold. His boots have a hole. He has had the hole since October. He has packed it with rags. The rags are wet. They will remain wet until June. Robert is technically eating a plant-based diet. He is not doing this by choice. He is doing this because meat belongs to the lord, the deer belong to the king's forest, and the last man in this village who was caught with an unlicensed rabbit spent a period in the stocks that his family still doesn't fully discuss. 10:00am - Brief rest. Rye bread, hard. A small onion. Robert thinks about the pig that was slaughtered in November. He thinks about this often. The memory of fat is a specific and enduring thing when you don't have much of it. 1:00pm - Back to the field. Robert's average daily calorie intake is somewhere between 1,500 and 2,000 calories, the majority from grain. He is doing agricultural labour that modern exercise scientists would classify as extremely high intensity. He is, measurably, running on insufficient fuel. He is aware of this in the way that you are aware of things that cannot be changed: completely, and without drama. 4:00pm - Home. Agnes has made more pottage. It is similar to this morning's pottage. Robert eats it. Robert's teeth hurt. They have hurt for two years. There is no dentist. There is a barber-surgeon in the market town seven miles away. Robert cannot afford the barber-surgeon and cannot take the day from the fields. His teeth continue to hurt. 7:00pm - Sleep. Robert will be awake again at five. He is thirty-six. He will probably not see forty. The leading cause of death for men in his position is a combination of infection, injury, and the slow arithmetic of malnutrition across a lifetime. Somewhere, eight hundred years from now, someone will describe Robert's diet as "ancestral," "plant-forward," and "aligned with the earth." Robert would have a great deal to say about this. Robert does not have the energy.

@buccocapital @hkusd Cries in $AXON

@hkusd Don’t lecture me about SBC!!

OK I’m in for some Snowflake at 146.xx What’s the worst that can happen? It’s only money Not investment advice

@SirPlishington @HighyieldHarry PARTS. SHOP.

@HighyieldHarry Dude, I gotta say, I think maybe you don’t know what you’re buying

Rewatching Succession but starting at the first episode Lukas Matsson shows up in

@netcapgirl Very exciting. Can you share any more RE what you're being hired to do? Like, invest in new media companies? Or work for a16z on their media, or portco media?

people are asking “will there still be banger tweets?” and “what about the dashboards??” why do you think i’m joining

@SoundersFC @Ticketmaster Is the actual kickoff right at 11:30 or is there pregame?

All eyes on kickoff 👀 #MINvSEA 101: Everything you need to know ahead of today’s match, presented by @Ticketmaster! READ ➡️ sndrs.com/78oscbnp

@AdamFostermusic @vocalcry That was in the old days. No fault divorce changed a lot, as did phones (check your partner's phone is cheaper. It's a lot of sitting in a van all day, peeing in a bottle, waiting to see if some bozo who wants insurance money/worker's comp for a sprained ankle is really hurt.

@vocalcry I heard it’s mostly just catching people cheating

Private investigator

@akramsrazor It's a monopoly that is growing very quickly. Of course it has a nosebleed valuation. Hate the obscene SBC though.

$axon this might be the best short in the mkt and the best pop fade since the $duol print reversal. Shud be 10 short reports on this name.

@SeahawksForever you should do a show exploring this and what we'd have to give up

Devon Achane anyone?

@Brian_Stoffel_ @BrianFeroldi Brian will you be posting the recording later?

Which SaaS stocks can survive in the age of AI Agents? Tomorrow, @BrianFeroldi and I will break down 4 tests to help you decide Register here: longtermmindset.co/tuesdayslive

@cocascola @buccocapital AI is going to impact the profession a lot, but not vibe-coded AI. SAAS offerings (with existing relationships) that can integrate AI will win IMO.

@Enron__Hubbard @buccocapital Big law firms are actually some of the places that AI is be adopted faster than anywhere else in the economy

If you’re wondering how low software can trade, you don’t have to look far into the past Looks like the indiscriminate vomiting will continue today. And tomorrow. And the next day. No need to be a hero

@buccocapital Update: It's getting absolutely smoked after hours lol

@buccocapital Hi Artie, speaking of puking SAAS, you might look at $INTA. It's software used by law firms and other professional services firms. I use it every day. It is pre-puking into earnings this afternoon. Law firms are extremely stodgy and will not use vibe-coded bs.

@ragingbullcap "Buy a company so wonderful that even an idiot could run it, because one day, one will". For TPL, that day came long ago. Used to be a huge part of my portfolio (still own some), but jeez Louise did management give me a headache.

$TPL One of my favorite investment cases to think through. Legendary... Market cap has grown ~330x since 1995 from $61.5m to $21B - remarkable in its own right - but that vastly understates the outcome given all the capital returns... I believe TPL has cumulatively split its stock 45x since Murray's write up. 3.075m S/O in 1995 x 45 implies 138m theoretical shares today. Actual share count today is half of that (69m). So capital appreciation on a per share basis roughly doubles to something like 650x due to buyback accretion. And then there's all the dividends. I'm too lazy to add them all up and calculate the return if reinvested, but TTM dividends of $150m on a per share basis are alone ~5x the initial purchase price, while cumulative dividends per share since 2020 are >35x... What drove this generational result? Of course luck played a significant role (i.e. shale boom in the Permian) but in reverse engineering the thesis I'd argue he set himself up for luck by focusing on a handful of conditions that made a power law outcome possible: 1. Size: Tiny starting market cap in absolute terms 2. Cheap valuation: $50/acre (vs. average of $192 at the time) and <10x net income 3. Duration: these outcomes require assets where most of the value lies deep in the future. In this case, land is effectively infinite duration. Related to entry barriers: decades of survival requires some kind of moat. As Twain said: "Buy land, they're not making it anymore." 4. Optionality: an asset with characteristics that enable it to evolve to higher and better uses over time, even presently unknowable ones (i.e. grazing to shale royalties). Linked to duration in some respects: forever assets live long enough to adapt. 5. Asset-light/high FCF conversion: limited reinvestment needs means inflation beneficiary and ability to return majority of profits to shareholders without impeding the business' future prospects.