Brian McCormick

Weighting like this is not durable

@nikoliasgoninus The metaphysical is much more interesting than the material, in philosophy

The Pope is terrified of what will happen when too many mysteries of the universe are “unconcealed” using AI. This will greatly soften the churches power. Their only path forward is to do an unforgivable Descartes Deception to reframe AI and partner with the leading labs so that they can continue to droop their veil over the eyes of the public. In order to do this, they have to try to hideaway or limit technology in the public sphere whilst the elites and the church continue using the best models behind the scenes to occult away the very knowledge that would erode the church’s very foundations. You don’t need the church to be a good human being and to have humanity. I have a better more an aligned religion you can follow. And we should build the Tower of Babel if that is how the Pope is going to frame it. All the people of the world united in Babylon in an attempt to storm heaven and free themselves from the sadistic reign of the beings the church refers to as gods and angels. These gods and angels may have genetically engineered us but they are very much like us with longer life spans. And like Uranus and Cronos before him, Zeus is utterly terrified of his children! The church is just a Zeus worshipping institution content on maintaining their power. It’s no different than the United States Government bureaucracy.

Revenue of $NU vs. $SOFI Nubank is also selling for half the P/E.

Insurtech revenue of $LMND $ROOT & $HIPO has gone up a combined 600% in just five years Meanwhile, they are all selling below their 2020-2021 market caps

@realroseceline Marginal extra utility of extra $1, so take 100%

Would you rather have? 🌹

@AndersReiche If $LMND was founded in 90s, it would be PGR. In another 20 years, probably some new players too.

2 cars are in an infinite race 🏎️ 1 has 10x the fuel efficiency and drives 50% faster The other has a lead. Who wins? $LMND $PGR

@wealthmatica Congrats!

I have an announcement. I have officially started a new position… - $DAD - Allocation: 100% There’s no exiting this one!

@TrungTPhan x.com/bjmtweets/stat…

“California almonds use 4x-7x more water than all data centers in North America used combined in 2025.” Golf course owners:

@KabraxFX $ROOT

What name needs more recognition right now?

It's pretty crazy that this business ( $NU ) is trading for a fwd PE of 13. They have so much TAM left to capture, too.

@davegirouard Would anyone be qualified to invest in a Level 3 loan book?

PSA: If you don't understand the concept of *discount rate* - how it's determined and what it implies - then you shouldn't be investing in a balance sheet lender. #forwarddeployedpensioner

Updated portfolio via @meetblossomapp $ROOT & $CELH Root is going to play out overtime. They’ve established a strong base and show disciplined “Outsider” like business management approaches, which is quite accretive in insurance, where lower cost wins. Gains in new distribution channels are stacking with independent agent appointments and embeddings creating durable new customer streams. Celsius is developing a durable moat with Pepsi captaincy. They control the Pepsi shelfs, and are 20% of US energy drink market share, with three brands. This is the modern version of the Monster thesis. I rotated out of SaaS and Semi. I’m becoming less of a fan of high SBC, prevalent in SaaS, and there may come a time the market stops backing it out, if they aren’t starting to already. In the short term, I expect LLM advancements to put pressure here, even if it may be irrationally indiscriminate. Would still consider buying, given future dips. Semi trade is becoming over-indexed as part of overall market, and all players have dramatically risen. Fintechs I’ve largely avoided recently. There’s a few I like, but future macro concerns persist. Prefer insurtechs, which benefit from AI, but have less volatile income streams or funding issues during credit cycles or macro events.

By request, $CELH competitor of the day Monster Ultra Strawberry Dreams. Classic strawberry soda flavor. Definitely pops, but not overwhelming. Different than Celsius which leans more into juice flavor profiles. Slight aftertaste. Can design is A+. Also like the lower caffeine content here of 150 MG vs Celsius 200, which I typically finish 2/3rds into. 6/10 for me overall. I prefer more juice vs soda flavors in most cases, and a cleaner finish.

$ROOT vs $LMND book value per share Both stocks are trading around $57 per share today

Does anyone know why venture capitalists hate almonds so much? They are a pretty efficient protein source. I guess picking on beef is less popular messaging? I'll let VCs eat tokens, while I eat cheese, eggs, pistachios and the like.

No $LMND insider sales lately. Seems like a good sign. Also, they've done a relatively good job selling at highs. I'd take that as a mild signal in the future.

$CELH is a very interesting business because on the surface it looks like “just another energy drink company,” but underneath it behaves much more like a consumer habit platform. That is what makes beverage companies so powerful when they work because consumers repeatedly buy the same product over and over again for years. The actual liquid inside the can is not really what creates the value. The value comes from the brand, shelf space, distribution, consumer routines, and repeat purchase behavior. If someone drinks your product 3 to 5 times per week for years, the lifetime value of that customer becomes enormous. That is how companies like $MNST, Red Bull, and $KO became massive businesses over time. Beverage companies can look simple from the outside, but when a brand becomes embedded into consumer habits, the economics can become incredible. What made $CELH different initially was the positioning. Traditional energy drinks historically leaned more into gaming, extreme sports, and aggressive “high energy” branding, while Celsius focused on fitness, wellness, healthier ingredients, sugar free products, metabolism, and gym culture. That allowed the company to attract a very different demographic, especially women, fitness consumers, and younger health conscious buyers. Management also executed extremely well during the early growth phase and the brand spread rapidly through gyms, influencers, social media, convenience stores, and eventually nationally. The $PEP partnership completely changed the scale of the business. Before Pepsi distribution, Celsius was still a relatively small but fast growing niche brand, but once plugged into Pepsi’s system the company suddenly had access to one of the largest beverage distribution infrastructures in the world. That matters because beverages are mostly a distribution and shelf space business. Thousands of companies can create drinks, but very few can get national placement across convenience stores, grocery stores, coolers, gas stations, $WMT, $TGT, and international retailers at scale. Once $PEP got involved, $CELH suddenly had infrastructure that most smaller beverage brands could never replicate on their own. That helped accelerate growth dramatically and revenue exploded for several years because the product became available almost everywhere consumers already shopped. The problem is that the stock eventually became priced for perfection. Investors started assuming hypergrowth would continue forever, which almost never happens in consumer products no matter how strong the company initially looks. Eventually every business slows down, whether it is $AMZN, $NFLX, or $CELH. That does not necessarily mean the business is broken, but it does mean investors need to start evaluating the durability of the brand rather than simply extrapolating explosive early growth forever. That is basically the entire debate around the stock today. The market is trying to determine whether Celsius is becoming a durable long term consumer habit or whether much of the growth was driven by an early excitement phase that naturally peaked. The Alani Nu acquisition also makes the story much more interesting. Now $CELH is no longer just one beverage brand because the company is slowly starting to look more like a broader wellness and energy drink platform. Celsius targets fitness and performance oriented consumers, while Alani has a stronger lifestyle, wellness, and female focused audience with heavy social media engagement. If management executes correctly, the company could eventually build a portfolio of complementary beverage brands inside the Pepsi distribution ecosystem. That is where a large part of the upside potentially comes from. Beverage businesses can become extremely profitable at scale because once distribution is built, profits can eventually grow much faster than revenue due to operating leverage. 1/2👇

@realroseceline Same market cap as past 5 years, but much more durable business

More shelf space improves brand visibility, repeat customers improve marketing efficiency, and retailers prioritize products that already sell well. Manufacturing also scales efficiently, meaning costs do not necessarily rise at the same rate as revenue over time. Another attractive part of the model is that beverages are relatively asset light once scaled properly. This is not a business that requires endless factories, massive infrastructure spending, or extremely heavy capital investment in order to continue growing. If the brands remain durable, free cash flow generation can eventually become very attractive. That is one of the reasons the best beverage companies historically became such incredible long term businesses for shareholders. But there are very real risks here too. Consumer tastes can change extremely quickly and beverage history is filled with brands that looked unstoppable for a few years before eventually fading away as trends shifted. Competition is also brutal because Monster, Red Bull, Ghost, Prime, $KO, $PEP, and dozens of other companies are constantly fighting for the same shelf space and consumer attention. That is why brand loyalty and distribution strength matter so much in this industry. Personally, I think what makes the stock interesting today is that expectations have completely reset compared to where they were before. At the peak, investors were valuing $CELH almost like infinite growth was guaranteed forever, while today sentiment is much more skeptical. That creates a much more interesting risk reward setup because now the company no longer needs perfection in order for the stock to potentially work. The entire investment debate really comes down to whether $CELH becomes a durable global beverage platform over the next decade or simply a successful temporary consumer trend. 🌹 2/2