Ben Wright

Thesis was right. Wrong read on the rest of the situation and I sold just before HBM made differentiation within the three undeniable.

The direction of the thesis was right though. HBM for AI accelerators changed everything and it became mission-critical $MU ran to $740 in the 2 years after selling. Would have been a 10x or 58% annualised return over 5 years

Bought $MU in 2021 at $70. Sold in 2024 at $70. The thesis was the AI buildout would require massive memory demand. With only 3 players - what was a commodity, wouldn’t be anymore. I sold because I saw micron and Samsung being reactive on pricing, rather than being rational.

$CSU and $TOI buys. My only new and meaningful buys since buying met coal $HCC and $AMR in April 2025 at $44 and $133, respectively. When the market is fearful, that’s the time to buy. Of course, you need to understand the risks and make your own assumptions of the future.

@adrivalue FCFA2S was always going to drop. 153% anomoly growth last year due to; - conversion of prefs, eliminating a large recurring deduction - completion of WideOrbit's post-acquisition margin improvement - lower interest from debt paydown. Headline was always going to revert

$LMN.V kicks off the $CSU.TO family's Q1 2026 earnings season - Don't be fooled by the -2% organic growth shown in the press release, because recurring OG was +6% (+3% in CC) ✅ - FCFA2S weak as hell with a -56% YoY, so I wouldn't be surprised to see LMN's shares down big tomorrow ⚠️ - The main reasons were higher WC changes (aka noise), higher taxes and some one-off costs related with acquisitions, so no worries from my side ✅

@Larryjamieson_ baxterr inn or the doss house. Both great whisky collections

Favourite drinking venue in Sydney cbd?

Hierarchy of happiness. - health - friends/family to have laughs/meals with - Ability to say/do as I please - Ability to engage in things that are intellectually stimulating - Ability to go where I please Time goes faster as you get older, anything can happen - enjoy life

@HyperTechInvest $mrvl

Let’s see who can guess this company: — Customers include $AMD, $NVDA, $AMZN, $GOOG, $MSFT, and $INTC — Revenue grew 144% last quarter — Cash from operations increased 200% YoY — Stock is down 33% YTD

Exercise, whether it’s lifting weights or going for a run - always helps clear the mind and leaves you feeling better. I didn’t feel like training today, but I knew if I just showed up I was doing myself a favour. Instantly feeling more clarity and positivity after.

@je41493029 With the lack of investment due to ESG, and lower prices sending smaller mines on the higher end of cost curve out of business, consolidation will happen and you get a supply crunch over the longer term that should support higher prices

@benwrightx There is ALOT more of downside risk, they are gonna cash burn more than what you think and prices are gonna be here from here on out ($175 or lower). AMR will get down to $15 a share, I would be more patient. You can buy 6x as many shares

Buying $AMR here. My simple summary is that currently, it’s a 1.7B market cap with $500m cash, no debt and its trading at book value. The book value is made up of property, plant and equipment + the cash. Meaning very little downside risk given it has no debt.

@je41493029 Maybe, and if prices stay lower for longer, they will make less money, but over the LT, they’ll still make money and I see it as a heads I win, tails I don’t lose too much.

@GaylordCapital I get that this year looks grim. It definitely can go down further - i just think the BV made up of PPE and cash + 40 years of reserves, over the long term I find it hard to see a point where I lose money. Not looking for a ST trade here and have more powder for lower prices

If we average that, say $500m a year, with like 40 years of reserves, it’s trading at like 2 x earnings which is very cheap. 40 years of $500m for $1.2b exc the current cash sound pretty good.

Met coal is also at lows in a current trough, and when met is high, AMR can make $1b + of cash flow annually. It also has 40 years or so of reserves. Some years, like this year it will make little cash, maybe even negative cash flows, but some years it will also make $1b +

@KaranMGurnani 😂😂😂 wow!

Never seen something like this before 😂 The new KraneShares 2X Long BABA Daily ETF​ $KBAB KraneShares 2X Long BABA Daily ETF​ (KBAB) seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the US listings or American Depositary Receipt (ADR) of Alibaba Group Holding Limited (NYSE: BABA). $BABA $KWEB kraneshares.com/kbab/

@TihoBrkan Not everything is a “buy” at the right price. If it’s on its way to bankruptcy, there is no right price

This lesson is yet to be learned by many young “quality investors”.

@BellaInves73913 @patientinvestor If uber has a 3min wait time, and the pure AV player trying to replicate Ubers network has a 12min wait time. Who gets the booking?

@BellaInves73913 @patientinvestor People book hotels direct, they also book on Expedia. People buy from the $MCD app direct, they also order on uber. People can get a Waymo direct, but also on uber. Cont

5 stocks that will outperform the market from here: 1. Ulta $ULTA 2. Hims $HIMS 3. UBER $UBER 4. LVMH $LVMUY 5. Alphabet $GOOGL

@BellaInves73913 @patientinvestor Back to demand, the winner will be whoever has fastest wait times, and uber already do a great job of that. There can be more than one player and things co exist.

@BellaInves73913 @patientinvestor Issue is owners will likely also need their car, when demand is the highest, and a lot won’t want a stranger on their Tesla. To replicate the current drivers, that’s 8m AVs someone has to supply, clean and manage ~ very capital intensive