Turtle42

@stockjock84 Deja vu?

Staples de rate...

@realEstateTrent If it was rebranded as the word change would it cause such hysteria?

I cannot believe how much AI triggers people. Wow.

@ACIPartnerhship @matthewhcullen Great share. Thanks.

No one remembers college commencement speeches. This one you might. Eric Church's commencement speech at #UNC is worth 10 minutes of your time. By no stretch am I a Tar Heels fan, so this is very difficult for me, enjoy : ) @matthewhcullen youtube.com/watch?v=xPzKUn…

@ExpectingValue Brilliant. Maybe a niche tweet aimed at uk football fans within fintwit!

I've got the answer to Britain's problems. No nonsense, practical, focused on delivery. Expert in turnarounds. And he's available!

@sidecarcap Agree with much of what is stated but why no advance notice on the date of release? Producing the quarterly reporting should be a structured plan internally. Therefore you should have be able to state on what date the results will be released.

The way a company reports earnings is an important tell. Here is how my latest investment does it: •No advance notice of date •Matter-of-fact earnings release •No guidance •No conference call •Questions sent by email, answers posted on website A traditional investor may think this reflects a lack of transparency. I see something else: management focused on running the business, not managing Wall Street’s expectations. This says a lot about what is happening behind the curtain.

@ACIPartnerhship Rumours in the UK that WFC is looking at BARC

Banking oddity: $MS making 52-week high $WFC nearing 52-week low

@david_katunaric Fantastic player

Really tempted to run a Luka Modric fan page

@RanmoorRuffian @UKstockpicker Thanks. So if the grant fully covers the capital element then it will be NIL on the balance sheet. Good for ROCE - you recognise the income in the numerator but don't see an addition to the denominator. Agree?

@turtlefortytwo @UKstockpicker Seems not at its full value 🤔

Joining the dots.. If you are following Goodwin plc’s 95m by 60m foundry extension which received planning in April there are a couple of clues as to whom the work will be dedicated and will likely pay for the fit out. 1. This video is worth watching linkedin.com/posts/goodwin-…

@UKstockpicker Thanks Simon. Accounting question....They received a grant to fund the capex. Is it correct to say that the new asset will be recorded on their balance sheet?

Interesting times in Stoke.

@TheStalwart Great to hear. London is a wonderful city. Safe travels.

Leaving London. But love this city, and overwhelmed by the number of kind and brilliant people I got to meet. Hope to make this an (at least) annual trip.

@SecretCFO Amen🙏

Why is governance important here? Ultimately governance is about decision rights, information rights, and incentive structures. And if you don’t think that’s important in the context of foundational AI development, then you are an idiot

There are lots of crazy things about this. One of them is that Murati was live leaking information out of a board meeting to a recused board member (Altman). Presumably this helped him with the information and time he needed to mobilize. Goes to show what a governance shitshow the whole org was

@TSOH_Investing TSOH taking no prisoners. 😀

WBD Q1 FY26 letter: "Over the last four years, we have consistently reiterated the imperative to scale HBO Max as a global streaming service. Today, that vision has been successfully achieved."

@mwmoedinger Nice work. Prefer without outlining.

My Nan taught me how to do cross stitch when I was little. I still do it - I like having my hands busy. This is my latest, with one of my mottoes: "there is always a way." I started outlining the letters (the T and H) but I don't know if I like it.. What's your vote?

@FoundersPodcast Up their with his quote "I'm right, and you're smart, and sooner or later you'll see I'm right."

Hahaha I love Charlie Munger:

@FundamentEdge Nice way of framing the opportunity

I think a lot of investors fall into a trap in deploying AI by asking the question, "How do I automate what I already do?" And then get very uncomfortable with the idea of handing over that existing process to an agent. Then end up saying "I feel like I won't understand the name as well if I let AI do it". And that is very fair and probably correct feedback. A reframe that has helped me is this: imagine you had a small clone army of yourself. At your quality bar, working in parallel on whatever you assign them. 12 Brett's showing up, eager, with capacity, & the same process knowledge, going deep on various deep dive or tracking projects that never bubble up to the top 3 spots on my to do list. That simple visualization, for me, sparks my creativity on agentic system design. "Wouldn't it be nice if i had another me to go in an build a master healthcare trend tracker across public company data, unstructured transcripts, publicly available data, and private claims data, then update it every week, giving me a weekly report on trajectory of healthcare cost trend." Public equity investing is an endless game of triage, a Pareto optimization of your daily work to focus on what matters. With a clone army, that triage can end, and I can scale depth in a way that was never possible (I lived this struggle trying to scale Tiger-style depth to the multi-manager approach and can attest to how difficult it is). So, don't speed read through the filings, bypassing comprehension. Stick with the parts of your process that drive real company & situational understanding. But, in parallel, spin up a team of mini agent "clones" of you to go broader & deeper on your existing investment process. > A clone that triple checks every financial model and pushes back on every assumption > A clone that runs a 7-year bull/base/bear model or distributable FCF analysis on top of your existing 3-statement model, in a new tab > A clone that listens to every public statement from every competitor, whether on an earnings call, investor conference or podcast, pinging you with relevant read-thoughts > A clone that gives you the devil's advocate on every position, encoded with your own custom thesis creep prevention checklist > A clone that does a deep proxy/form-4 analyses on equity incentives for all of your management teams > A clone that helps you analyze the buy-side whisper on every name heading into print > A clone that highlights "hockey stick" guidance risk across your coverage > I could give you 50+ more, some of which are possible today with existing agentic capabilities, many of which are a wager on the continuation of improvement in the agentic ecosystem (both model intelligence, model harness & data infrastructure) These are all analyses that you could do if you had infinite time. But the reality is that a public equity investor is fundamentally time constrained. You, intentionally or not, have learned to focus your time on the highest leverage parts of the investment process. Great analysts & investors are ruthless in spending time on the most important thing. If you have been successful, be very careful in making fundamental changes to your investment process. And the reason I've seen the most impressive results from AI from senior (not junior) investment professionals is that they know what to do and turn that domain knowledge into structured agentic workflows. The junior doesn't know what to do (yet), and can have poor judgment on which parts of the workflow to augment. (this can start of a whole new conversation about onboarding junior analysts with the existing Senior Analyst clone architecture and process checklists for the junior, but that's a tweet for another day...) On the other side, you vs. a team of you + 12 clones should be an unfair fight. You will have broader & deeper information capture that definitionally should drive more accurate insights on businesses & stocks. AI doesn't natively have good investment judgment, but a talented investment professional surrounded a swarm of agent clones should make much better investment decisions over time.

@DavidEpstein Good luck. Are you coming to London?

I’ll be on tour for my new book, Inside the Box, this month. I’d love to see you as I speak with friends and colleagues. Link in my bio for more details.

@lhamtil Very sad. Haven't seen the stats but are we moving towards a power law world - a small number of people read a lot of books and a lot of people read a small/no books?

We are cooked

@evantindell Completely agree with your point. Poor thinking and poor advice lead to Board's not availing themselves of the full choice set they face.

Mansplaining buybacks vs liquidity to $ITRN management

@lhamtil Incredible valuations.

People talk about the Magnificent 7 but we need something for the crazy moves in industrial picks & shovels. Argan, Quanta, Comfort Systems, SPX, and several others

@realEstateTrent Agree. Pure joy. Great to see. You need to get Adele as a headline act next year.

Too many people focus on the negatives of this app because perhaps that’s more interesting to share. The people in this video met on this app and have become actual friends because of their common interests. This was on Thursday night. It’s pure joy. The best of X!!