Justin Posey

Amazing turnout in Dillon, Montana! 🙏 Thank you to everyone who came out for the book signing and Q&A on June 21st. The energy was incredible! Missed it? Catch the full Q&A: youtu.be/u-1jcFpggC0?si…

MATH HISTORY JUST BROKE 🚨 For 80 years, the world believed square grids were the best for the famous Erdős Unit Distance Problem (1946). Today, an OpenAI model just smashed that belief -- discovering an entirely new family of constructions that beats them. AI is autonomously solving the world's most vexing math problems. The age of AI mathematicians is here. 🔥

@60lbsoftreasure You were a gracious host, @60lbsoftreasure !

Excited to share the LayerV video from Seekers Summit. I had a blast talking with Joe and Justin , especially learning how Justin’s treasure hunting hobby quietly evolved into a new way of thinking about solving workplace challenges. @ReelLifeJustin layerv.ai/blog/layerv-at…

@JoshR392884 Level: pro.

@ReelLifeJustin what do you think of my treasure hunter shelf

@gothmogsmuscle I'll consider clarifying this in a future public session.

@gothmogsmuscle x.com/reellifejustin…

Somewhere in your stack is a vulnerability you haven't found yet. Anthropic's Mythos already has. In weeks, it uncovered thousands of zero-days -- including bugs hiding in battle-tested code for 16–27 years. Humans didn't miss them because we're dumb. We missed them because we're slow. Watch: Why the Future of Security Is Invisible → layerv.ai/blog/layerv-at…

@R1chardMaur1ce @StephenEllis_PR I trimmed a bit, but otherwise holding.

@ReelLifeJustin @StephenEllis_PR you're holding this one yes?

Penguin Solutions ($PENG): The AI Play Nobody's Talking About (NOT TREASURE HUNT RELATED) Not financial advice. DYOR. The market's throwing billions at AI companies burning cash. Meanwhile, $PENG sits at 0.79x sales. Profitable. $1.37B in revenue. Trading at 10x earnings. That's not a typo. THE SETUP: Penguin builds and manages AI infrastructure -- supercomputers, GPU clusters, the actual hardware running these models. 89,000+ GPUs deployed. 3 billion runtime hours. 25 years in HPC before "AI" was a stock market buzzword. THE VALUATION CRIME: • Revenue: $1.37B (+17% YoY) • EPS: $1.90 (profitable) • P/S: 0.79x • P/E: ~10x AI peers trade at 10-20x sales while losing money. PENG trades under 1x while making money. The market's asleep. WHY I'M INTERESTED: SK Telecom went beyond "partner" -- they invested $200M and handed Penguin the contract to build Haein, South Korea's sovereign AI supercomputer. Delivered August 2025. That's not a press release. That's proof. Management saw hardware commoditizing and exited. FY26 guidance: zero hyperscaler hardware revenue. They're pivoting to services before the market forced them. That's rare. Full-stack model (design → build → deploy → manage) creates switching costs. Once you're running someone's AI infrastructure, you're embedded. Supports NVIDIA and AMD. When competitors live and die by Jensen's allocation list, that flexibility matters. 8 analysts. 100% Strong Buy. Target: $27.50-28.00. That's 40% upside. RISKS: Gross margins compressing (31% → 29%). Revenue lumpy from big contracts. Hyperscalers building in-house could shrink the pie. THE BOTTOM LINE: Profitable AI infrastructure at value pricing. Partnership execution proven. Unanimous analyst conviction. At $20 with a $28 target, you're not betting on hype. You're buying earnings at a discount while everyone chases vapor. I've spent a decade looking for a buried treasure. This one's not buried -- it's just boring enough that nobody's paying attention. DYOR.

Thanks for the shoutout!

everybody calm down. i got this.

Disney won't touch this with a 10-foot lightsaber and a squadron of lawyers. But off the record, fellow Mouse House refugee: full red rocket. Explains the zero-pants lifestyle and why Han always looks like he just survived a bad Tinder date. That thing's got its own zip code, a bad temper, and probably unionized.

@BamaSaltyMarine @ReelLifeJustin Thoughts?

Do you think Chewbacca had a human dick or one of those red rocket things dogs have? Disney won't respond to my emails…

@92emj Any format is a good starting point. Best of luck to you!

@ReelLifeJustin Question! Would listening to the audio book be same, better, or worse as reading your book for clues? Thanks for offering such an awesome adventure!!

Amazing turnout in Dillon, Montana! 🙏 Thank you to everyone who came out for the book signing and Q&A on June 21st. The energy was incredible! Missed it? Catch the full Q&A: youtu.be/u-1jcFpggC0?si…

🚂

VersaBank (VBNK) Update: Breaking $12.50 and Gaining Steam (NOT A TREASURE HUNT RELATED) Not financial advice -- still a shareholder, DYOR! Back to my June 4 post when VBNK was at $10.90 post-earnings dip. I projected a climb to $12.50–$15 by Q4 2025, and here we are in mid-September with VBNK hitting ~$12.50 USD (~C$16.88). Solid progress for a stock the market briefly misjudged. What's driving it: Q3 2025 earnings (Sept 4) showed strength: •EPS: $0.22 USD, topping estimates of $0.20 (+10%). •Revenue: C$30.4M, up 13% YoY, though slightly below some forecasts due to $4.2M in U.S. relocation costs. •Assets growing, NIM up, book value per share climbing. P/B ~1.0, still a value play. U.S. RPP is scaling toward its $290M target by Oct 31, tapping into the massive U.S. POS financing market. Plus, the August U.S. trial for tokenized deposits (DDRs on Algorand/Ethereum) is a big step -- positioning VBNK as a regulated stablecoin alternative with serious potential. Tailwinds: •CMHC-insured loans nearing $1B. •DRT Cyber sale (by Sept 2026) tracking well, with Q3 revenue +8% YoY. •Share repurchase tightening the float, supporting EPS. Risks remain: U.S. expansion costs could pressure margins, and economic uncertainty (rates, slowdowns) is a factor. Low liquidity means volatility cuts both ways. Why I'm holding: The fundamentals -- RPP growth, DDR innovation, and undervaluation -- are aligning. Crossing $12.50 reflects momentum, and I'm watching for $15+ by year-end if execution continues. I'd consider adding on dips. VBNK's proving its digital banking edge. Keep digging, DYOR!

VersaBank (VBNK): Still a Digital Banking Gem (NOT TREASURE HUNT RELATED) Not financial advice, just my take as a VBNK shareholder. Do your own research! "The market's a circus, and sometimes the clowns are the ones holding the ringmaster's whip." Alright, folks, let's cut through the noise and get to the meat of why VersaBank (VBNK) took a 5.X% haircut. As a significant shareholder—I'm not here to cry over spilled milk but to dissect what's cooking in this Canadian digital banking play. Spoiler: the market's throwing a tantrum over an earnings miss, but there’s more to this story than a single EPS figure. Part detective, part contrarian, I'm all about the fundamentals—and figure out if this dip is a screaming buy or a warning sign. The Crime Scene: Q2 2025 Earnings VersaBank dropped its Q2 2025 earnings on June 4, and the market didn't exactly roll out the red carpet. Here’s the rundown: •Adjusted EPS: $0.18 (USD), missing the Zacks Consensus Estimate of $0.21 by 14.29%. That's a 45.45% plunge from last year's $0.33. Ouch. The market's algo traders, those twitchy robots, likely saw this and hit the sell button faster than you can say "margin call." •GAAP EPS: C$0.26 (~$0.19 USD at 1.35 CAD/USD), beating some analyst targets like The AM Reporter's C$0.24. This discrepancy—adjusted vs. GAAP—tells us the market's fixated on the adjusted figure, which strips out one-time items. •Revenue: Reported at C$30.19 million (~$22.36 million USD), crushing estimates of $21.32 million. Adjusted revenue, however, was $21.20 million, just edging out $21.14 million expected (+0.92% YoY). The U.S. Receivable Purchase Program (RPP) drove growth, hitting US$70 million in assets in just 75 days. •Net Income: C$8.5 million, down from C$11.8 million in Q2 2024 but up 32.3% from Q1 2025's C$5.51 million. Sequential improvement is nice, but the YoY drop stung. •Balance Sheet: Total assets hit a record C$4.4 billion (+18% YoY, +2% QoQ). Net interest margin (NIM) on credit assets climbed to 2.59%, thanks to U.S. RPP growth and smarter deposit funding. Book value per share rose to C$16.25 (~$12.04 USD), making the current price-to-book ratio a tantalizing 0.91. The market's reaction screams "EPS miss!" but smells like an overreaction. @blondesnmoney would likely point out that markets are like moody teenagers—quick to judge, slow to think. The GAAP beat and revenue outperformance suggest operational strength, but the adjusted EPS miss and sequential net income dip gave the algos an excuse to pounce. Market Microstructure: Why the Drop? Who reacted? X posts suggest algorithmic trading amplified the sell-off, with sentiment fixating on the EPS miss. VersaBank's low float (32.5 million shares) and modest $382 million market cap make it a playground for volatility when news hits. Thin liquidity means a few big sell orders can tank the price, especially post-earnings when retail and institutional traders recalibrate. The dual listing (TSX and NASDAQ) adds another layer. Currency fluctuations (CAD/USD) muddy the waters, with GAAP EPS in CAD looking stronger than USD-adjusted figures. Cluseau might quip, "The market's trading on headlines, not balance sheets." Short interest, while not explicitly reported, is likely low given VersaBank's niche status, but any short covering could spark a rebound if sentiment shifts. The Big Picture: Why I’m Still Bullish As a shareholder, I'm not here to chase trends like some FinTwit hypebeast. I'm betting on undervalued fundamentals when the market's distracted. Here's why I'm holding my shares: 1. U.S. RPP Rocket Fuel: The U.S. RPP, launched after the 2024 Stearns Bank acquisition, hit US$70 million in assets in 75 days and targets US$290 million by October 31, 2025. That's a foothold in the multi-trillion-dollar U.S. point-of-sale financing market. A second U.S. partner was added in Q2, and management's touting lower deposit costs and leaner operations stateside. It's scalable, high-margin growth. 2. Digital Deposit Receipts (DDRs): VersaBank's blockchain-based DDRs, tested on Algorand, Ethereum, and Stellar, are a fintech game-changer. By moving these assets to Digital Meteor, Inc. (a DRT Cyber subsidiary), the bank's setting up a potential spin-off or monetization play. A hidden asset the market’s sleeping on. 3. CMHC-Insured Loans: With $266 million outstanding and $730 million committed, these zero-risk-weighted loans are a cash cow, targeting $1 billion by year-end. They boost ROE without tying up capital. 4. DRT Cyber Divestiture: The cybersecurity arm, mandated for sale by September 2026, posted C$2.8 million in revenue (+8% YoY) and C$2.0 million in gross profit (+5% YoY). This "free option" could fetch a tidy sum, potentially reinvested into core banking. 5. Undervaluation: At $10.90, VBNK's P/E is ~15.8 (based on fiscal 2024 EPS of $0.69), below the Canadian banking average of 19.3. The P/B of 0.91 screams value, especially with book value growth. Analyst targets range from $10.40 (Roth Mkm) to $22.00 (Keefe, Bruyette & Woods), with Raymond James at $15.00. That's 37.6%–101.8% upside. 6. Share Repurchase: The NCIB for 2 million shares (8.99% of float) signals management's belief the stock's cheap. For me, that's EPS accretion and a tighter float, both shareholder-friendly. Risks: The Market's Not Always Wrong Here's what keeps me up at night: * Earnings Volatility: The adjusted EPS miss reflects U.S. expansion costs and regulatory compliance expenses. The C$8 million headquarters relocation to the U.S. in H2 2025 will hit margins. * U.S. RPP Execution: Delays in scaling or onboarding partners could stall growth, as Roth Mkm noted in their downgrade. * Economic Headwinds: High interest rates and Canadian economic softness could crimp loan demand, though CMHC-insured loans mitigate credit risk. * DRT Cyber Sale: A botched divestiture could disappoint. The market's not pricing in much value here, but a lowball sale would hurt. * Sentiment Swings: X chatter shows retail investors are skittish post-earnings. Low liquidity amplifies price swings, and another miss could test the 52-week low of $8.51. The market's a poker game, and right now it's bluffing with a weak hand. The fundamentals—asset growth, NIM improvement, U.S. expansion—are stronger than the EPS miss suggests. I'm digging where others aren't. The market's punishing VBNK for a single quarter's adjusted EPS miss, ignoring GAAP strength, record assets, and U.S. RPP momentum. My stake took a significant hit today, but I'm not sweating it. Why? Because VersaBank's trading below book value, growing in a massive U.S. market, and sitting on a fintech wildcard with DDRs. The NCIB and DRT Cyber sale are catalysts the market's underpricing. Action Plan: I'm holding my shares and watching for a dip toward $9.50–$10.00, where I'd add more. Today's earnings call is key—management needs to sell the U.S. RPP story and clarify cost controls. If they deliver, expect a rebound toward $12.50–$15.00 by Q4 2025. If not, I'll reassess at $8.51, the 52-week low. The market's like a bad detective—jumping to conclusions without checking the evidence. VBNK's got a solid alibi: growth, value, and a fintech edge. I won't let the clowns scare me off. DYOR before investing!

@rce9372 A good problem to have 😝

@ReelLifeJustin Gonna need to rescale that y-axis pretty soon.

Lucky guess 😉

Stay safe out there!

Yes, it was a reversal. The reason I rejoined is simple: various Discord servers are where a lot of the community actually talks. They're where I hear what people are working on, what's frustrating them, what's sparking, what's falling flat. I built this hunt for the hunters -- all of them -- and Discord is one of many places I get to hear them in their own words: in person at Seekers Summit, on podcasts, in messages, in the rooms. Staying out of one of those channels for appearances wasn't worth giving up that pulse. That's the call I made. On the book: someone asked what books I loved as a kid. I said "The Eleventh Hour," among others. It's a famous puzzle book from 1988, sitting on library shelves everywhere -- not a hidden manual, not a secret tip. The accusation is that sharing it gave Misfits a clue because the book has ciphers in it and the title mentions a clock. Two things. The cipher Misfits actually solved isn't in that book and isn't anything like what's in that book. And the puzzle obviously involved clocks -- they were on screen for millions of viewers. Nobody needed a children's book to notice them. The bigger issue is what this kind of accusation does. If the treasure turns up near any city, trail, restaurant, or book I've ever mentioned liking in my entire life, someone can call it a leak in hindsight. That's not how leaking works. That's just pattern-matching after the fact. The answer isn't for me to stop talking about my childhood books. The answer is to recognize that a normal answer to a normal question isn't an inside track.

@ReelLifeJustin So if you left their Discord "in the interest of fairness," what changed? Doing a 180 on that damages the trust we had in you when we invested our money/time on this hunt. The 11th Hour book you shared w/ the Misfits privately before anyone else was useful in solving the cipher

The clock cipher has been solved. There is a peculiar feeling that comes with watching a puzzle you wrote yield to someone else -- quieter than I expected, less ceremonial. Team Misfits, whose effort was led by Rose and Mooshee, are the ones who did it. The answer is MAGYAR -- as in the Hungarian word, as in the Vizsla, as in a chain of reasoning that ends at a dog breed. There are murmurs others may have solved it earlier. If so, my hat is off to those solvers as well -- genuinely. But Team Misfits are the first to bring a correct solution to my attention, and that is the only standard I am in a position to judge. I wrote a longer post on the site covering what the cipher is and isn't, why solving it does not get anyone closer to the treasure, a word on fake finds (expect them), and some thoughts on AI in the hunt that I sat with longer than I'd like to admit. If you've been working on the clocks -- or wondering what the clocks even were -- it's worth your time. treasure.quest/announcements/

Yes, I rejoined. I'm in several private Discord servers, and I plan to stay in them. The only thing that matters is what I do in those rooms, not which rooms I'm in -- and what I do is not give private hints. Never have, never will. If that requires you to take my word for it and you can't, this isn’t the right hunt for you. Trust is the prerequisite, and it cuts both ways.

@ReelLifeJustin @ReelLifeJustin what changed between October, when you apparently posted this, and now? what led you to do a 180 and rejoin the private Misfits discord? what was the "ex" post on the website about the cipher almost being solved for? why have you since taken that post down?

The cipher has been solved -- more details will be posted on the announcements page tomorrow. Congratulations to the solvers! The cipher is a nod to the container, nothing more. The treasure remains where I left it. It will remain at its resting place until the poem is solved. treasure.quest/en/announcemen…