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@danielsethlewis What insurance names you like here? Have you checked $acic ?

Same vibes. Sitting here with 5 year+ holds on insurance compounders with no photonics.

@ShaleTier7 What are you long?

@AtlasShrug1 @Temple_Eight @michaelsikand @juniorminingpro I appreciate your thoughts!

I tried to explain the setup pretty simply, they’ll earn their share price at 250/tonne and I believe we’ll blow through that in next 12-18 months on growing demand from Asia due to Middle East O&G disruptions and AI data center demand. Meanwhile, a shit ton of capacity is coming out over the next few years. And coming off very depressed levels…the longer the base, the higher in space 🚀

The most asymmetric Iran War trade isn't oil, plastic, or fertilizer. It's Tungsten. And the upside is explosive whether the war ends or not. APT (the key tungsten raw material) was $320 in early 2025. Today it's approaching $3,000. Nearly 10x in 13 months. It's because China imposed export controls on 41 tungsten product codes. Exports dropped to zero. And for the first time ever, China became a net IMPORTER. The country controlling 79% of global production can't supply itself... Meanwhile the US and Israel have burned through unprecedented volumes of munitions across the Middle East, and NATO stockpiles are already depleted from years of supplying Ukraine. The Iran war is exacerbating an already historic supply crunch. Tungsten is in every artillery shell, tank penetrator, missile counterweight, gyroscope, and radiation shield NATO builds. When fired at 1,700 m/s, it doesn't come back. Zero recycling. Gone forever. Rheinmetall is scaling to 1.1M shells/year. Russia burned 4.5M rounds in 2024 alone. Only TWO western producers exist at scale. $ALM trades at $6B MC. $EQR.AX trades at $1B MC. Yet $EQR.AX produced nearly 3x more tungsten last quarter than $ALM. It sits on 11.27M mtu worth $24.8B against a $1B market cap. It's the lowest cost western producer. Two operating mines. First positive cashflow already hit. Me and @KawzInvests just dropped our Tungsten deep dive on Substack. It's the most comprehensive deep dive into the tightest critical mineral market since Lithium in 2021. S/o @BULLOFBRITAIN for being one of the first to call this insane trade. It's a lottery ticket but the odds aren't random.

@Temple_Eight @AtlasShrug1 @michaelsikand @juniorminingpro Price action doesn’t look great, any catalysts you expect to get Terracom moving?

@AtlasShrug1 @michaelsikand @juniorminingpro I remember you mentioned $TER.AX before.

@respeculator Still long $TER.AX ?

Lot of folks dismissing $WHC.AX as a coal play here as it’s no longer pure thermal (is true).. but a few counter points.. 1. WHC has the highest torque thermal mines as it’s high cost but best quality coal. It’s all NEWC spec unlike others that put a lot of coal into 5500kcal API5 markets - see table below on the spread between these two indices over 2022/23. Today API5 is still <$90/t vs NEWC at >$140/t. The countries looking to LNG-to-Coal switch like Japan Korea and Taiwan are all mostly 6000kcal NEWC coal boilers so it will be that index that will get the bid imo. 2. WHC has torque in that it is net debt and not carrying 20-30% of MCAP in cash that won’t yield anything like many other peers. The deleveraging story will add further rerate to earnings uplift. 3. Whilst the Met side may not look overly attractive here.. it was never going to generate much whilst the BHP price contingent payments remain until April 2027. So whatever Met does you win as you move through to the unencumbered holy land period in 12mths. And if thermal stays bid for long enough to see Met to thermal switching then Blackwater has a boatload of SSCC coals to switch. 4. It’s still the most liquid name and probably has best capital mgmt (active buyback plus dividends) so is insto fav and catches insto flows so gets premium in that regard. 25mtpa x A$80/t margin x 6 (50yr+ diversified mines) is a A$12bn company or a A$15/sh share price. Doesn’t seem absurd to me.

@byCaLiTosYT Hasta que día estás en LA? Escríbeme

Es una locura como puede ser que las películas actuales se vean peor que las antiguas

@BlackScholesMan Buying $sypr here?

The irony of being focused on aerospace/defense....in the middle of two large wars...with only 4 green names across an entire portfolio that covers the world. Reminder that cash is a position and when they sell they come for everything.

@variance_swap Any preference?

Thermal coal charts look pretty. $BTU $TER.AX $NHC.AX

@ddnanocap so I should just wait to buy a house 1 more year? (keep saying it every year)

3/3 As this FHA pipeline clears, the volume hits the REO market. $ASPS is the bellwether. They just reported earnings this month and noted their Hubzu auction inventory surged 137%. The 2H 2026 wave is already showing up in the data

1/3 Everyone looking for a 2008-style housing crash is missing the real distressed real estate story. It's not a national glut; it's a massive, delayed FHA backlog. COVID protections paused defaults for years, but the dam has broken. $ASPS #RealEstate #REO

@calvinfroedge I know you like Spanish literature. I recently read El capitán alatriste and really enjoyed it

Got some new books to read

@danielsethlewis @claudeai @Base44 What are you buying?

My @claudeai plan for business vertical setups, planning, web design now his hit $2,400 per year price tier. Sure -- lets keep shorting $WIX and @Base44

@310Value Material announcements need to be notified when signed so I don’t expect a data center comment during the call. Results are excellent without it.

While the market is attuned to $lb's datacenter news, there's some interesting produced water metrics. PW volumes were up QoQ 10.9%, which was on top of Q3's QoQ growth of 8.7%. Even brackish water and sand, both tied to new drilling activities were up 9.8% and 12.9% QoQ. Should be a good read through for $wbi.

@SFarringtonBKC @Ross__Hendricks @MikeFritzell All roads lead to $FOA ?

@Ross__Hendricks @MikeFritzell Don't discount three years of rising wages, homebuilders who are building smaller footprint houses, and who spend $30k on closing costs and $15k buying down rates. Existing homes with ZIRP era square footage might be harder to thaw out, but boomers can just do a reverse mortgage

My current timeline: Tweet 1: Mag7 Tweet 2: AI Tweet 3: SaaS Tweet 4: AI Tweet 5: SaaS Tweet 6: VC Tweet 7: London Tweet 8: US quality Tweet 9: AI Tweet 10: AI Is there anyone out there that's still focusing on non-AI related themes?

@calvinfroedge @resourcebull tech will issue shares to fund capex, meanwhile...

@resourcebull $hun did also

Can we talk about how $LYB reduced it share count in the midst of one the biggest cyclical downturns in industry history? 334m to 323 m in 4 years. Based.

@NestBetter I am out, this is a joke at this point. I'll probably sell tomorrow at the pico lows of the day

$LODE raise is 50M???? 🤮

@broheim777 way under $3, what a shitshow

$LODE lets play over under on where this is priced:

@jbjunk69 @CDe_Gasperis what a complete disaster, I am out

$LODE There it is - 18M shares at $2.75 for $50M. The price was over $4.50 on MONDAY. @CDe_Gasperis just resign and get someone who is more aligned with the shareholders at this point. Complete disaster and absolute criminal management.

@SJCapitalInvest how do you pick the duration of the options

@HorizonKinetics interstingly, Viper $VNOM is not in the holdings - I wonder why

New Active ETF Launch: The Horizon Kinetics Texas ETF ($TEXX) applies our long-standing, common sense and research-driven, value approach to Texas, where many of our core holdings are based.  It is a differentiated, unique perspective on a differentiated state economy. horizonkineticsetfs.com/TEXX $TEXX @nasdaq