Castanza

Added to BSM and RRC

Small starter position in RRC Management has been very disciplined with paying down debt. Target is to get to sub 2x by end of 2022. At this point they would consider dividend or stock repurchase. Projections show sub 1.5x by 2023. Management is focused on generating free cash flow They have the best assets in Appalachia and are also the most efficient operators. Continued efficiency growth is on the front burner. I believe in the call they said they got under 12k per linear foot and as a result are revisiting their best producing wells. they see tailwinds for propane and gas in Asia. Consolidations and acquisitions are only on the table if it checks multiple boxes. Efficiency, debt pay down or RFC generation. Q1 call had a lot of good questions.

Michael Kao had an interesting commentary recently. can’t remember if someone else already posted this on another thread.

Was looking for a better mobile experience and everyone and their brother was saying IBRK is the best figured I'd give it a shot.

Have been using IB for about 6 months now and absolutely hate it. All of the features feel "hidden" and the platform is always lags (I have GB internet). Stuff that should be blatantly obvious and in plain sight like margin exposure and maintenance seems to be "hidden" as well. Can't even get my watchlists to load half the time. And they are very clunky to update. Foreign stock exposure is nice but tbh I don't buy that many foreign stocks. Does anyone use ETrade? Or any other recommendations? Might just go back to Fidelity

Yeah that’s correct

So the Lamberth trial is delayed 45 days to see what SCOTUS rules? Are we expecting a ruling before 45 days? Or is this a minimum before another extension needs to be filed? edit Lamberth trial not Collins

BSM, VNOM, FLMN Made it a basket

What gold miners do you like?

It's interesting for sure, but how does one trade carbon credits? It seems unactionable as a retail investor.

You could opt for a 2x or 3x levered treasury

Anyone try any good wines lately? Looked for some suggestions for an upcoming party.

The one major Canadian city I haven’t been to Thanks for sharing, I figured it was something along those lines, but also assumed there were some policy differences between there and the states. Sounds pretty familiar

What's the primary driver of home prices in Canada? Every time I go up there is seems like there is so much room to build. Even just outside of the bigger cities the urban sprawl doesn't seem that terrible. I don't see the same geographical constraints that some cities like NYC have.

+1 BSM

I would say the moat of NOW is greater than Splunk. The difference is, one is a foundation for ticketing, event monitoring, external documentation db reference, team organization (think corporate teams, IT depts, engineering depts.), external tool building db reference. Where the other tool (Splunk) is more of a bolt on/ external tool. Both are sticky, but I think the Splunk segment is a bit less “rootable”. It will be interesting to see what companies like Palantir push out for corps.

All of what you say sounds very familiar. My company uses NOW and also Splunk (which I’ve helped to deploy). Definitely can be a major pita. It’s a good product though, and certainly offers a lot of visibility and customization. My one grip, and I’m sure other companies are the same way, but it’s a lot to maintain. Our company decided to hire some dedicated Splunk resources since it became unmanageable for the typical IT teams. Definitely a sticky business though. Gives upper management more to bitch and moan about I wish I would have bought NOW a few years ago. I saw how engrained the software was to companies once implemented.

Cubs you used to work in software sales right? Small position in $FNMAS why not...perhaps the reckoning day has arrived?

You could also short treasuries and hold 3x Ultra Short Leverage 20 year t-bill ETF. I believe Burry took a position like this (they wrote a book about him ). But the SEC also made him shut his mouth a month ago and he had to delete his twitter

So where do you put your money? Gold? Property? Equities? Bitcoin?

Sounds like something unions and pension funds won’t like

Stumbled upon this article that was interesting. https://www.project-syndicate.org/commentary/fed-sanguine-inflation-view-recalls-arthur-burns-by-stephen-s-roach-2021-05 When Chinese and Mexican food are getting expensive you know there’s a problem. If Top Ramen goes up....well, better head for the hills

Interesting times for sure. Thanks for sharing that Twitter thread. But do we know it is transitory at this point? I was always under the assumption that this view needs to be held in hindsight? I think everyone is hoping it’s transitory while clutching their pearls. By no means am I well versed in anything macro, but perhaps someone could share examples of things that were alluded to being “transitory” in the past yet ended up simply staying inflated?

Just some anecdotal evidence of inflation I’ve seen in my personal life this past week. Groceries: Bought a bag of 6 green peppers, single red onion, spring mix lettuce, portabella mushroom sliders, bbq sauce, quart of raspberries $27....for vegetables.....the onion alone was 2.50.... McDonald’s: Grabbed two McDoubles (1.39 ea), small fry ($1.56). Came to like 4.70 after tax. Haven’t been in a while but that seemed significantly more. Lowes: Two 8ft red oak corner trim pieces, 1 8ft pine finger jointed cove trim, a single brass door hinge, two simple hooks for hanging tools in a garage, tube of white lightening caulk. $90..... Went out to dinner with the wife two a small brewery near us. For the usual pub food dinner and two drinks each we paid $100 before the tip...same food and drinks cost us $65 a little over a year ago. Ive also noticed that almost no stores seem to be having sales on clothing/goods. Could be two things....pent un demand so no need to lower prices or making up for lost revenue/increased costs behind the scenes. in general I’m seeing about a 50ish % increase in prices of pretty much everything. Now I’m not poor, I have no kids and I budget wisely so it’s not killing me. But for the folks who barely make ends meat, I’m sure it’s killing them. Especially the groceries. My area is not HCOL by any means so I can’t speak for those who live in NYC etc. My prices might be lower than your average costs

The issue is far bigger than the US too. A lot of it comes from globalization and cheaper labor elsewhere. We can raise the minimum wage all we want. That’s a temporary stimulus imo.