Jim Chanos

By employing gay men (the Sacred Band) on the left (flank)?

Wait, what…?!

Note when the two “closers” took the mound…

Barclays out with a good $EQIX Investor Day Bull vs Bear recap. But here is the salient point: Is it really 90% “growth capex” when your utilization is 78%…and falling?! Think about it. https://t.co/qUyKc8fJAX

@GoldRoyalty1 We are getting to the point where the Bitcoin treasury companies equity raises are becoming a material amount (10%) of the entire US Savings Rate ($100B per month). @GoldRoyalty1 (2) At the peak of SPAC issuance, SPAC’s raised about $180B for the LTM through 2Q 2021, or $500M per day. The Bitcoin treasury company raises are starting to get close to that level. https://t.co/kaSm0ctnIt

Another penny-stock trying to raise hundreds of millions of $ to buy Bitcoin. $CINGF

@atlasatoshi @DPerlman1 I see that math isn’t your strong suit, either.

@atlasatoshi @DPerlman1 The mNAV has contracted since Saylor has been selling the preferred. Also, your mom says to come upstairs as your dinner is getting cold.

From K-pop to Bitcoin treasury company! https://t.co/fkOw0DIz0h

€250,000

No one should be surprised here. $RUN

51%…?! $LMND

Bitcoin treasury company CEO realizes the implications of the “phase two” strategy he laid out in his @FT interview, and walks it back a day later. $MTPLF https://t.co/5gGWj9vlBu

Not worth living…

Keep ‘em coming! https://t.co/9CXb0Heqd8

Wait, what…?! Why not borrow against your Bitcoin to buy…more Bitcoin? Isn’t that your highest ROIC? $MTPLF

Lol

@CedarReseach Do a search on “Progressive Telematics Patent” for a good overview on where the industry is regarding vehicle telematics. $PGR’s first patent was in the 90’s. The argument by $LMND and $ROOT bulls that they are technology pioneers/leaders is ridiculous.

$38M market cap company raises 10x that amount to become a…Bitcoin treasury company. $SQNS https://t.co/yKw75iLmnV

Another big “W” for the @ChicagoBears during their regular season (March-August).

So about $6B of equity inflows per week by retail. Bitcoin treasury companies are now soaking up a material % of that, relative to $2T mkt cap of Bitcoin.

Great thread (w/receipts) on the absurdity of the implied Robotaxi and Optimus valuations for $TSLA. Preview: Even if they come to fruition, both are low-margin businesses(we agree).

Great post. Shows how accounting matters, even for AI narratives. Puts the insane legacy data center claim that “recurring” depreciable lives for equipment is over 100 years (!) in the proper perspective. $CRWV $NBIS $DLR $EQIX (2) And on a back-of-the-envelope basis, it looks like $CRWV would have negative gross margins, using 3-yr life for GPU’s and 10-yr life for everything else.

@CedarReseach Correct. In the 1Q $PGR personal lines NEP grew almost as fast as $LMND (23% vs 24%), and had a LOWER net Loss/LAE ratio (65% vs 67%), ex-CAT. And of course had MUCH lower marketing costs as a % of GEP/NEP….and was very profitable, with no need for “Adjusted EBITDA”! https://t.co/lOfeXzIH8N

In darkness and/or inclement weather this basic maneuver very well could’ve been a head-on collision if there was no one in the driver’s seat.

“Life, Liberty and the Pursuit of Bitcoin” (But I suspect Franklin was a tough sell)

For those of you who think $TSLA ”beat” the 2Q deliveries estimate, please note that Street estimates for 2025-26 unit deliveries have actually DECLINED this week. I would also note that the new 2026 estimate is below where the 2025 estimate was in March. https://t.co/6BCtVlAArh

@DPerlman1 @DarioCpx (2) I’ll defer to @BobSloanS3 here, but theoretically what’s stopping unlimited short-selling of tokenized “shares” if settled in cash, subject to the credit of counterparties?

Now you’re getting the business model.

@CedarReseach @Rob1Ham The Bitcoin ecosystem exists to monetize promotion of the idea itself. Once you understand that, the zeal of these promoters makes sense. Watch my YouTube videos! Buy my books! Insure your Bitcoin! Buy my stock issuance, so I can buy Bitcoin!