@boujee_banker @Goulderbilt Synthetic "Margin Loan" isn't onerous (SOFR + 525), 3yr, prepay (12mnth, 50bps), low LTV (45% Max Leverage; calculated on BV, Cash, and Non-Cash at FTG). Supportive of discount, unlocks cash. Could be: 1. Tax bill (insiders?) 2. Back-date special (~$10mm) 3. HoldCo op (guess)

@boujee_banker @Goulderbilt Interesting 8K you got there Mr. Tiptree:

@rev_cap Owning $SII not the worst way to get Op Leverage to the underlying commodity (immediately ducks to from the FinTwit crowd… yes I know they have other businesses like that Cranium Uranium)

“Slowly, I learned to communicate with the bears, observing them, studying their body language. They tell you so much if you listen.”

@fundiescapital “Old Man Still Got It”

@rhunterh OVA looks nice though - hope SLG made sure to compensate the C-Suite for their hard work

@FutureIsQuantum @dkbilson So for those paying attention at CNNE: +40% of "Parts" in "active" conversations (DNB, PSFE): CNNE cost basis on DNB is $9.60 (16% ownership), PSFE (4% ownership). Folely doing what Folely does (making deals) in an M&A friendly environment... ALIT lingering too with Starboard

@Noalgos Mgmt. let’s turn that repo machine back on (been 48hrs)…

@RealAssetsValue The T-Man getting a littttttle too comfortable in his rhetoric… love me a hot hand (in macro), but a tale as old as time: dogmatic they become (and fade the market does).

@rickross12345x @garyHeff

@David__Lorenzen Better year for REITs to buy other REITs

“Hey Siri… how does momentum trading work in the stonk market?”

@Noalgos

@Noalgos Good news on that EPS for the stock component + repurchase (if or when Viterra closes) is you now have yr-1 accretion (growth!) Mos told multiples should expand on cyclicals when they go down… not stay flat/contract vs. prior peaks. The Life (and Death) of Value vs. GoGo Momo

@GuyImpatient @LacuaHalonen Bud buying $5mm on the equity issue with Moser Acquisition + Funding for Seller Note with Hi Crush, not the worse vote of confidence:

@hedgie007 @CorneliaLake Really Good Work: Potential to Flip (Long)? - Old Mgmt Gone (Starboard Activist) - Sold Most “At Risk” with HCM & Payroll to HIG - Recast Growth Expectations (GDP +/100 bps); kill BpaaS* - Margin Exp. from Cloud/Restructure - Improved Balance Sheet (< 3.0x): Repriced TL (50bps)

@patrick_oshag