LunarCrush LLM | LunarCrush AI Interface

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@skhetpal "Phil Goldstein started Bulldog Investors at XX with $700k and built it into a $450M+ fund over 30+ years by taking low-volatility asymmetric bets. Bulldog delivered a +2% return in 2008 while the stock market declined by 37%. Let's dive into his investment strategy:"
@skhetpal on X 2025-07-26 15:45:20 UTC 20.5K followers, 20.8K engagements

"Thanks for reading If you enjoyed this it would mean a lot if you liked & reposted the first post (linked below). Previously I was a hedge fund investor and am now an entrepreneur. Follow me @skhetpal for more breakdowns of top investors & stocks"
@skhetpal on X 2025-07-26 15:46:36 UTC 20.5K followers, 2104 engagements

"AVGO started in 2005 when PE firms bought Agilents chip division for $2.6B. Hock Tan became CEO in 2006 then spent XX years acquiring dominant companies in high-margin segments like custom chips networking switches and software where customers have few alternatives"
@skhetpal on X 2025-07-23 13:52:59 UTC 20.5K followers, XXX engagements

"His breakthrough case was Blair Corporation one of the largest direct marketing mail order retailers. They issued their own credit to customers instead of taking credit cards. The value of the receivables alone equaled the stock price creating significant margin of safety"
@skhetpal on X 2025-07-26 15:45:21 UTC 20.5K followers, 1266 engagements

"WiseTech also has high switching costs. CargoWise's annual gross retention rates have consistently been over XX% per year since 2013 despite steep price increases. Once customers are trained on the platform and have integrated their workflows switching becomes very difficult"
@skhetpal on X 2025-06-21 15:34:28 UTC 20.5K followers, XXX engagements

"Broadcom is one of the most important tech companies you never think about. From iPhones to data centers to AI infrastructure $AVGO powers it all. And its been a 150-bagger over the past XX years catapulting it to a $1.3T valuation. Lets dive in"
@skhetpal on X 2025-07-23 13:52:58 UTC 20.5K followers, 8931 engagements

"In 1989 he met his partner Steven Samuels at a CEF conference. They stayed in touch and in 1992 started Bulldog with $700K. Later Andrew Dakos and Rajeev Das joined as partners. His initial strategy was to find CEFs trading at huge discounts to NAV and wait for mean reversion"
@skhetpal on X 2025-07-26 15:45:21 UTC 20.5K followers, 1382 engagements

"The custom chip process creates strong switching costs. Development takes 18-24 months and costs $200-500M per design. Once deployed customers build their entire software stack around these chips. Switching would require years of work and risk breaking critical systems"
@skhetpal on X 2025-07-23 13:53:00 UTC 20.5K followers, XXX engagements

"Over the past XX years revenue grew XX% annually while EPS grew at a XX% CAGR. Analysts expect similar growth over the next X years with estimates forecasting XX% annual revenue growth and XX% earnings growth driven by buybacks"
@skhetpal on X 2025-07-23 13:53:01 UTC 20.5K followers, XXX engagements

"Today Broadcom makes money in two ways: Semiconductor Solutions (58% of revenue): Custom AI chips networking equipment wireless components broadband chips. Infrastructure Software (42% of revenue): VMware virtualization enterprise security software mainframe solutions"
@skhetpal on X 2025-07-23 13:52:59 UTC 20.5K followers, XXX engagements

"AVGO trades at 38x forward P/E close to its highest multiple ever and a XX% premium to its own 5-year average. This expansion was driven by a change in market perception of AVGO from a cyclical hardware-heavy semi company to a hybrid of a SaaS + semi company. The recent multiple expansion has largely been driven by excitement over AI as well"
@skhetpal on X 2025-07-23 13:53:02 UTC 20.5K followers, XXX engagements

"Broadcom has several risks: Apple represents XX% of revenue through iPhone chips hyperscale customers have been developing internal chip capabilities and XX% of revenue is tied to semis which have historically been cyclical. At its valuation expectations around AI are high"
@skhetpal on X 2025-07-23 13:53:03 UTC 20.5K followers, XXX engagements

"Roper Technologies is a serial acquirer that outperformed Berkshire Hathaway over 20+ years by buying software so boring that customers forget they pay for it. Here's how $ROP built its own version of Constellation Software's playbook:"
@skhetpal on X 2025-07-05 14:24:04 UTC 20.5K followers, 69.9K engagements

"They own these stocks in their current portfolio (@thetikr): Restaurant Brands International ($QSR) Mattel ($MAT) Berry Global Group ($BERY) Dollar Tree ($DLTR) SAP ($SAPG) Brookfield ($BN) Prairiesky Royalty ($PSK) Fairfax ($FFH) Alfa Laval ($ALFA) Elevance Health ($ELV)"
@skhetpal on X 2023-09-09 15:40:11 UTC 20.5K followers, 4572 engagements

"Using TIKRs valuation tool in an example base case which resembles Street expectations with multiple contraction back to 28x P/E we can earn a X% IRR. Theres upside if AI growth explodes with some analysts forecasting $50B in AI revenue by 2027 (from just $12B in 2024)"
@skhetpal on X 2025-07-23 13:53:03 UTC 20.5K followers, XXX engagements

"Berkshire Hathaway loves boring businesses that print cash. This company dominates a boring industry and is up 3400% in the past XX years. Heres how:"
@skhetpal on X 2025-02-23 14:36:25 UTC 20.5K followers, 23K engagements

"Since its 2016 IPO revenue has grown XX% annually while EBITDA grew at an incredible XX% CAGR with EBITDA margins expanding from XX% to XX% Analysts expect similar growth over the next X years with estimates forecasting XX% annual revenue growth and XX% annual EBITDA growth"
@skhetpal on X 2025-06-21 15:34:30 UTC 20.5K followers, XXX engagements

"Using TIKRs new valuation tool we can see what potential returns could be under bull/bear/base cases. In the base case we can earn an estimated XX% IRR. Build your own model for NOW in under XX seconds on TIKR"
@skhetpal on X 2025-07-12 14:12:29 UTC 20.5K followers, 1674 engagements

"The 2023 VMware acquisition transformed Broadcom's business model. Pure semiconductor companies face cyclical demand but software provides steady recurring revenue. VMware brought 375000 enterprise customers paying predictable annual fees smoothing out chip cycle volatility"
@skhetpal on X 2025-07-23 13:53:01 UTC 20.5K followers, XXX engagements

"Chuck Akre is only of the best quality investors delivering 15%+ annual returns since 2009 through his Three-Legged Stool framework by investing in compounding machines. His famous American Tower investment turned $XXXX into $XXX per share a XXX bagger Lets dive in"
@skhetpal on X 2025-04-23 15:37:08 UTC 20.5K followers, 16.6K engagements

"One of the best ways to learn investing is to do case studies on historical successes (and failures). Aspen Technology (AZPN) stock is up 46x over the past XX years. Yet its story remains largely untold:"
@skhetpal on X 2024-12-05 17:50:08 UTC 20.5K followers, 30.7K engagements

"Despite his success his lifestyle is modest. He dresses in clothes from big-box stores his wife works as a tour guide at the Rockefeller estate and he quits gambling after losing $XXX. Today Bulldog manages $450M focusing on municipal bond CEFs SPACs and REITs trading at discounts"
@skhetpal on X 2025-07-26 15:45:24 UTC 20.5K followers, 1018 engagements

"SPACs were the reason they were positive in XX. Phil calls them "heads you win tails you don't lose" investments. If a SPAC finds a good deal shares trade above trust value and warrants pop for 10-15% gains. If it's a bad deal you get your $XX back plus interest"
@skhetpal on X 2025-07-26 15:45:24 UTC 20.5K followers, XXX engagements

"Richard White co-founded WiseTech Global for $75K in 1994 after teaching himself programming. XX years later WiseTech is worth $35B AUD delivering 2500%+ returns since its 2016 IPO by revolutionizing global logistics software. Here's how $WTC became the OS for global trade:"
@skhetpal on X 2025-06-21 15:34:26 UTC 20.5K followers, 11.5K engagements

"What makes Broadcom different is its focus on custom chips. Google's AI workload needs different chips than Meta's or OpenAI's. AVGO designs application-specific chips that are 2-3x more power efficient than general solutions like NVDA GPUs. It has XX% share in this segment"
@skhetpal on X 2025-07-23 13:53:00 UTC 20.5K followers, XXX engagements

"WiseTech competes against Oracle SAP Manhattan Associates and Descartes. However it wins through its scale end-to-end product and network effects. Since WTC has the largest customer base carriers prioritize integrating with it which attracts even more freight forwarders"
@skhetpal on X 2025-06-21 15:34:29 UTC 20.5K followers, XXX engagements

"Phil and Andy met with Blair's managers and convinced them to sell the receivables to a credit card company at above their value. The stock went up and there was a profitable self-tender offer. This became the Bulldog playbook: find hidden value pressure management to unlock it"
@skhetpal on X 2025-07-26 15:45:22 UTC 20.5K followers, 1188 engagements

"The stock trades at 49x next XX months EBITDA which is a X% premium to its avg since IPO but only X% above its 3-year avg. The valuation is a significant premium to closest peers Descartes at 25x NTM EBITDA and Manhattan Associates at 31x though WTC is growing much faster"
@skhetpal on X 2025-06-21 15:34:31 UTC 20.5K followers, 1465 engagements

"Broadcom's moat has three components: -Switching Costs: Custom designs lock in customers for 3-5 years -Technology Leadership: Over 20000 patents in networking and advanced chip packaging -Scale Economies: Spends $9B on R&D far more than smaller competitors like MRVL"
@skhetpal on X 2025-07-23 13:53:00 UTC 20.5K followers, XXX engagements

"Phil's performance speaks for itself. Bulldog has averaged XXXX% annual returns vs XXX% for the S&P XXX from 1993 to 2018. This was done with significantly less risk with only one down year in 25+ years. From 2000-2002 they returned +5% vs -XX% for the S&P XXX and in 2008 they were positive X% while the S&P fell 37%. They often underperform in bull markets but shine during volatility protecting capital and exploiting dislocations"
@skhetpal on X 2025-07-26 15:45:23 UTC 20.5K followers, 1045 engagements

"By 1996 Phil and his partners decided to take a more activist approach with particular emphasis on liquidity events such as asset sales. Phil coined the term "transactional activist" - using shareholder pressure to force management action that closes discount gaps"
@skhetpal on X 2025-07-26 15:45:21 UTC 20.5K followers, 1329 engagements