Maku Capital

@TidefallCapital Thank you so much 🙏 you're appreciated

CSU supercut done! I could only cut it from 4 hours down to 36 minutes. I moved a couple segments on the timeline for clarity, it focuses heavily on mark miller opening, AI and panels and condensed a bunch of Q&A. fixed some audio synch issues as well. Uploading to youtube now.

@orrdavid How do you use AI to help you with earnings? I mainly use it to summarise earnings calls

It used to take 6+ hours to review earnings for a few dozen companies on a peak earnings season day. My AI system cuts that in half, and I feel less drowned in info I don't care about.

@chat_SBC @evantindell All of my stocks are in a bear market

@evantindell Most stocks I follow in bear markets sadly

Lessons learned in a bull market

@WaterworldCapi1 AXON TSCO?

Was short 9 of these.

@madthunderdome Is this bullish TSMC?

I had a dream last night that Jensen turned into the Incredible Hulk and for some reason he was also the creator of the movie franchise.

@FiscalDaddy @WaterworldCapi1 IG and AMZN have existed for a long time and that hasn't stopped domain growth. Cafes may not need a website but I think the majority of B2C still have a website I think

@WaterworldCapi1 Just saying a lot of younger ppl already find people / things on Instagram. Good number of small businesses without a website at all.

I think one of the best ways to play the proliferation of software and coding is $VRSN. Everyone will have a website, perhaps many of them. This is a monopoly gatekeeper that benefits from those volumes.

@Goulderbilt @kab604 Any reason why BRO over AJG? The business mix at AJG seems more balanced. Granted that's going to change for Brown with Accession but it was a pretty big bite for the company

@kab604 a little bit of brown, but I really like e&s space better than everything else. basically you need to be really patient, the last soft market c. 2010 if memory serves went on for years and sucked for all of them

Can understand why employees rate $RYAN chair/founder. Shareholders too (although people getting jittery as mkt softens). Guy handed 40m in equity to key employees. 'It's good business'. Could've just had company issue shares. $CSU / $FAST vibes

@Goulderbilt @kab604 Yes I've heard he could be intense and a force of nature but those who perform are well looked after. It's similar to David Zapico at Ametek

@kab604 pat is a true legend, but every employee call I ever had with them was negative. really intense, competitive culture, in a "beyond threatening your job, you get screamed at and belittled for missing quota by 1%" kinda way. Expect lots of broker exits this year! (I'm long btw)

@WaterworldCapi1 @alexbhturnbull More consolidated mkt structure and discipline (capacity expansion / pricing)?

@alexbhturnbull People aren't going to like this but the memory business has better competitive barriers and market structure than the hyperscaler business.

A lot of the discourse around "whats fair value for memory" could be rephrased as "do you think its long term workable for hyperscalers to get ROEs of low-mid 20s on AI capacity and memory producers to get mid 50s ROEs?" Very much a call on pricing power durability.

@WaterworldCapi1 @red_dog_capital

@Maku_Capital @red_dog_capital Do you want to validate share claims or make money?

Any close to $CDW? Why down 20% on that print? Didn't look that bad to me. 10x NTM is pretty dang cheap!

@blueprintsmb22 You and me both

@Maku_Capital I hope they destroy arsenal

I get this question alot as a business owner that is actively involved with the day to day and works 50-60 hours a week. I honestly don't know what I would do all day. Today I decided I'm leaving early at noon. Why? Because I want to. Wife works in NYC. I'll pickup my daughter from school at 3pm. Noon to 3 I'll read a little bit, maybe get a snack before PSG/Bayern at 3? Today will be nice but if I did this two days in a row I would probably get antsy. x.com/aidanshandle/s…

@blueprintsmb22 PSG to the final!!

@blueprintsmb22 PSG wins on Bayern home turf? That's bold! Will be a good game though. The first leg was amazing. But at the end of the day, as long as Arsenal loses the final 😂 I'm a Man United fan

@WaterworldCapi1 @red_dog_capital Also they claim to be a share gainer (3-400bps) but we're not too sure. Their growth vs listed peers has been similar - but it's tricky given diff rev mix and sizes... How do you validate their claim?

@red_dog_capital Yeah bear case is memory prices cause hardware purchases to collapse after a pre-buy. My take is they will pass on memory costs and get a margin on it.

@WaterworldCapi1 @red_dog_capital What's your view on mgnt and execution? I've heard Chris WFH which is odd given CDW is a sales-heavy organization. Thomas used to work on the same floor with the sales team. Also over the last 13 quarters, only 5 quarters showed operating leverage. We used to own but have exited

@cap_zay @TidefallCapital Worse locations?

@TidefallCapital The # of stores theyve opened hasn't been disciplined in last few years.

It's hard explaining to American investors how dominant Dollarama is in Canada. Just solid execution for decades.

@John_Hempton @SurinderCap1tal I thought you were long Spirax?

@SurinderCap1tal nup. Just things like Disney or DSM Firmenich or Spirax.

How is it even possible that on a melt up day like this a short seller (me) can be having a ridiculously, blindingly good day? Something must be wrong.

@evrgn11112231 That and surviving are some of the biggest things

@pricing_power__ I think vendors with valuable datasets can transition to being a data provider if & when the GUI (CapIQ/Refinitiv/FDS Workstation) get replaced by a new GUI. In this case, I'm not sure how valuable the FDS dataset is.