If you short something that has a low to negative cost of carry over time, it can be a pretty good short! That's why the average rebate is not GC. If you were only buying insurance, then I agree you'd probably want more correlation. x.com/orrdavid/statu…

I analyzed this investment from Apollo here: beelicapital.substack.com/p/qxo-converti…

Float is extremely small here (probably ~5M shares) so be careful. In my opinion, $NBY is one of the most overvalued securities I've seen in quite a while.

As I mentioned, DTR could get a max of 31.5% of BKKT. Surprise! Max dilution for $BKKT shareholders, but no worries, "The transaction was ... approved by an independent special committee ... following a comprehensive review process to ensure robust governance ..."

PSA: EOSE has the most "stealth" dilution I've ever seen on a $1B+ market cap. Yahoo Finance & BBG have it at $5.4B but the FDSO market cap is $10B! I'd avoid EOSE. Disclosure, no position at the moment but that will likely change.

Anyone know a decent way to short WLFI (World Liberty Financial Token)? Extra points if there's a way to do that through tradfi, very worried about counter-party risk still in any crypto platform that allows shorting $WLFI.

COMMANDER: Alright men, gather round. Your investment account 1099s are ready for tax filing. TROOP 1: Duly noted, sir. Let it be written! COMMANDER: It says here you received interest, well done. TROOP 1: So it shall be. COMMANDER: That's reported on a 1099-INT. TROOP 1:

Net Income negative every year. Negative FCF to shareholders after SBC. I don't believe any claim of profitability for $SNAP. x.com/GornesJ/status…

With Nintendo down 45% from its all-time highs, I take a look to see if it’s worth buying. beelicapital.substack.com/p/nintendo-man…

META is trading at 16.4x FoA EBIT while growing 22% last year and projected to grow 24% this year. Long $META

Gravity (GRVY) – the Korean video game developer with $400M cash, ~1.3x EV/EBIT, and an activist campaign is secretly OP. beelicapital.substack.com/p/gravity-grvy…