Process Capital
1.1K posts
Process Capital
@Process_Cap
Day job watching polls in Ben Graham’s voting machine, free time spent on the weighing machine. Basketball & Finance Tweets. Always down to read opposing views
Katılım Haziran 2021
208 Takip Edilen208 Takipçiler
@Mr_Neutral_Man I’m long $PR was a fan of this profile of the young management team. Ideally that will help them have the longest view in the room
texasmonthly.com/news-politics/…
Also long a small basket of water management names $WBI & $WTTR
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Been slowly adding to our O&G exposures to hedge out a nasty 1970s oil shock. Not fully committed yet, w/ each escalation, ramping up our exposure. Would love ideas
$SU - Canadian oilsand low cash cost
$DINO - Inland refinery/lube
$XOP - Calls
$JOY.TO - Small cap E&P
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Mentioned yesterday that I was trailing the de-dollarization thesis into int'l businesses ( $KSPI & $TBBB)
Other recent buy was in Permian water management
$WTTR & $WBI.
Aging wells are good - new drills would add to that...so long as there's not a major overproduction
GIF
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Process Capital retweetledi
Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz, provided that the oil cargo is traded in Chinese yuan, a senior Iranian official tells CNN. @CNN @cnni
cnn.com/world/live-new…
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Flight to safety lifting the dollar to a multi month high during a US-driven war seems like a bear market move to me
Been adding small to a few ex-US businesses $TBBB & $KSPI
Need to learn both businesses better to continue to scale in. Appreciate any help or US-listed ideas
Ben Hunt@EpsilonTheory
It’s like Bessent wants to do the Soros thing again, but this time be the Bank of England. Just fucking idiotic.
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@pratikpatel36 @Aggie_CIO Taking assignment on my short 15 put it seems lol
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@Process_Cap @Aggie_CIO Hmm a covertable notes offering AH!?!
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@Mr_Neutral_Man @EllliotttB Crazy small move from $ALX
Feels like shorts aren’t covering yet. Maybe a PR specifically mentioning a special divy drives that
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Me looking at my REIT portfolio today
Been at this for a decade and a half now
You got to learn how to laugh at a day like today
@EllliotttB
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Lot of dunking on people for betting on $PAR as a jockey bet on Savneet recently. It's not just that a few good podcast interviews where he talked Buffett.
It's also hearing the LT focus on earnings calls and I respect him for building $300M in ARR from a near-bankrupt business
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Another fear was that Voss Capital was pushing for a sale as exit liquidity. Them buying more through Q1 calms this worry a bit.
I'm still short a March 15 put - will take the shares if assigned - plan to buy a smaller chunk of $PAR stock if the puts expire worthless.
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The plan was set on June 3, 2025, when $PAR was ~$65.
Not a near-term call on price; it was a mechanical process locked in months ago to avoid accusations of impropriety or lack of faith in the business.
Sure, I'd rather he be buying shares - but this isn't a 4 alarm fire.
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Spent part of the morning scroll asking Gemini about the recent Forms 4 & 144 from Savneet Singh at $PAR.
I posted a few days ago confused by the bullish commentary at a conference the same day a filing shows he’s going to sell a large block of shares.
Some updated thoughts🧵
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@mario_cibelli Nothing but call and call spread buying there the last few months.
Mostly in the March and June options
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@Hollandpar91513 House and index funds in a retirement account make up the bulk of things
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@Process_Cap Why is your portfolio such a small % of your net worth?
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I’ve bought a lot of $PAR over the last 6 months
15% of my portfolio by cost basis & ~1% of net worth
A lot of news recently, I snapped into selling a March 15 put after earnings (which I generally liked - especially the buyback)
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@BillBrewsterTBB @JacobShap Energy markets getting the most focus in the initial days
I’d be interested in some of the most impacted secondary ripples that interest him. I’ve seen LT fertilizer call buying (Nat gas a big input) and some comments on jet fuel going through Strait
I’m sure he’s got other ex
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Lotta mixed messages.
I should probably buy back that short put once I can compliance-wise and let some new deposits dilute the position a bit while I make sense of things.
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In options land, there was a call buyer but it was someone closing the short leg of a bearish risk reversal.
Not sure if that’s a long closing their hedge or if I should read into the fact that they kept the long put on.
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