# ![@2_Cents_Worthy Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1952352083119882240.png) @2_Cents_Worthy [--] cents worth

[--] cents worth posts on X about debt, balance sheet, investment, cash flow the most. They currently have [------] followers and [---] posts still getting attention that total [------] engagements in the last [--] hours.

### Engagements: [------] [#](/creator/twitter::1952352083119882240/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1952352083119882240/c:line/m:interactions.svg)

- [--] Week [---] -71%
- [--] Month [------] +1,128%
- [--] Months [------] +235,343%

### Mentions: [--] [#](/creator/twitter::1952352083119882240/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1952352083119882240/c:line/m:posts_active.svg)

- [--] Months [--] +7,100%

### Followers: [------] [#](/creator/twitter::1952352083119882240/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1952352083119882240/c:line/m:followers.svg)

- [--] Week [---] +15%
- [--] Month [---] +101%

### CreatorRank: undefined [#](/creator/twitter::1952352083119882240/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1952352083119882240/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[finance](/list/finance)  [stocks](/list/stocks)  [countries](/list/countries)  [cryptocurrencies](/list/cryptocurrencies)  [celebrities](/list/celebrities)  [musicians](/list/musicians) 

**Social topic influence**
[debt](/topic/debt), [balance sheet](/topic/balance-sheet), [investment](/topic/investment), [cash flow](/topic/cash-flow), [business](/topic/business), [flow](/topic/flow), [$hem](/topic/$hem), [$trox](/topic/$trox) #22, [company](/topic/company), [market](/topic/market)

**Top accounts mentioned or mentioned by**
[@9finhq](/creator/undefined) [@slowpokeinvest](/creator/undefined) [@restructuring](/creator/undefined) [@orrdavid](/creator/undefined) [@trackdalf](/creator/undefined)

**Top assets mentioned**
[TRONOX LIMITED CL A ORDINARY SHARES (TROX)](/topic/$trox) [Cable One, Inc. (CABO)](/topic/$cabo) [Kroger Co (KR)](/topic/kroger) [SafeCoin (SAFE)](/topic/$safe) [Silgan Holdings Inc (SLGN)](/topic/$slgn) [BlackRock Inc (BLK)](/topic/blackrock) [Main Street Capital Corporation (MAIN)](/topic/$main)
### Top Social Posts
Top posts by engagements in the last [--] hours

"The review will consider a "wide range" of potential outcomes such as asset divestments acquisitions transformative business combinations or a sale of the Company.""  
[X Link](https://x.com/2_Cents_Worthy/status/1964993152454181234)  2025-09-08T10:04Z [--] followers, [--] engagements


"RBC Capital Markets has been engaged as ISC's financial advisor and Stikeman Elliott as the legal advisor"  
[X Link](https://x.com/2_Cents_Worthy/status/1964993155461521533)  2025-09-08T10:04Z [--] followers, [--] engagements


"For awhile in the past I exchanged emails with a highly experienced forensic accounting analyst. Looking back at those old convos I am still blown away by his insights. He was and still is one of the best in the field"  
[X Link](https://x.com/2_Cents_Worthy/status/1965038642109501802)  2025-09-08T13:04Z [--] followers, [--] engagements


"3) The Truth is the Only Objective: Your only interest should be identifying what is really going on. Do not seek embellishments or try to force evidence to fit a preconceived thesis. However if a thesis is not yet proven but evidence is still being gathered persevere"  
[X Link](https://x.com/2_Cents_Worthy/status/1965038653828469235)  2025-09-08T13:04Z [--] followers, [--] engagements


"4) Always do peer comparisons: Size your financial statements and make comparisons with at least 1-2 other good peers. Are there major divergences in margins or whatever is on the balance sheet. Can this be explained by the business model"  
[X Link](https://x.com/2_Cents_Worthy/status/1965038657091567949)  2025-09-08T13:04Z [--] followers, [--] engagements


"Sect 2: Investigation 1) Define your objective. The depth of analysis depends on the goal. Is it to write a report for a short position (which requires tons of due diligence) or is it to identify enough risk to walk away from a potential investment i.e. less work"  
[X Link](https://x.com/2_Cents_Worthy/status/1965038660090519746)  2025-09-08T13:04Z [--] followers, [--] engagements


"2) Go straight to the auditors' opinion and the section on critical audit matters. This is where auditors likely felt discomfort on certain accounting issues and decided to flag these without having to issue a bad opinion"  
[X Link](https://x.com/2_Cents_Worthy/status/1965038663211127243)  2025-09-08T13:05Z [--] followers, [--] engagements


"5) Cash Flow is King: true health is revealed in its cash flow statement. Analyze the relationship between cash flow net income and working capital changes. For example be wary of companies extending payables effectively a source of funding which could be unsustainable"  
[X Link](https://x.com/2_Cents_Worthy/status/1965038673310966096)  2025-09-08T13:05Z [--] followers, [--] engagements


"6) Read the footnotes: The numbers on the face of the financial statements tell you what management wants you to believe happened. Typically footnotes tell you how they arrived at those numbers revealing the quality risks and potential manipulations behind the facade"  
[X Link](https://x.com/2_Cents_Worthy/status/1965038676465103240)  2025-09-08T13:05Z [--] followers, [--] engagements


"3) Suspiciously high interest income on cash: Cash in the bank earns low interest. If a company reports high single-digit or double-digit interest on "cash and cash equivalents" it signals that the cash is likely invested in risky products or undisclosed lending schemes"  
[X Link](https://x.com/2_Cents_Worthy/status/1965038691380068644)  2025-09-08T13:05Z [--] followers, [--] engagements


"4) Excessive interest capitalization: Moving interest expense from the income statement to the balance sheet (as part of an asset's value). This inflates both profits and assets. Key red flag is a massive divergence between int exp on the PL and the "cash interest paid""  
[X Link](https://x.com/2_Cents_Worthy/status/1965038694651580591)  2025-09-08T13:05Z [--] followers, [--] engagements


"Steamboat types of shorts 1) Deteriorating business 2) Flawed business 3) Regulatory scrutiny 4) Inflated earnings expectations 5) Financial manipulation 6) Overlevered balance sheet 7) Fraudulent related party txns [--] ) Hidden liabilities 9) Unsustainable dividend"  
[X Link](https://x.com/2_Cents_Worthy/status/1965447003674181991)  2025-09-09T16:07Z [--] followers, [--] engagements


"Not much discussion on hard catalysts though here are some examples: - Debt events such as covenant breaches or credit rating cuts - IPO lock-up expiration - Index deletions - Dilutive equity offerings There are others but these are easier to "predict" in my view"  
[X Link](https://x.com/2_Cents_Worthy/status/1965481681277817228)  2025-09-09T18:25Z [--] followers, [--] engagements


"The Return of the Bears https://www.businessinsider.com/little-harbor-advisors-short-selling-hedge-fund-financial-crisis-2025-9 https://www.businessinsider.com/little-harbor-advisors-short-selling-hedge-fund-financial-crisis-2025-9"  
[X Link](https://x.com/2_Cents_Worthy/status/1966328258393453029)  2025-09-12T02:29Z [--] followers, [--] engagements


"Watching $SAFE with interest. Stock is down 17% YTD even as part of the bond complex has recovered since Apr though still below [--]. Weakness seems justified. (1)"  
[X Link](https://x.com/2_Cents_Worthy/status/1975164360579293642)  2025-10-06T11:40Z [--] followers, [--] engagements


"Investors have become desensitized to risk as the 2008-09 financial crisis fades from memory Block believes. https://www.barrons.com/articles/ai-short-selling-activist-investing-66914a9e https://www.barrons.com/articles/ai-short-selling-activist-investing-66914a9e"  
[X Link](https://x.com/2_Cents_Worthy/status/1975863331232870859)  2025-10-08T09:58Z [--] followers, [--] engagements


"$PSIX shares are up over 200% this year driven by the company's focus on data center customers and lower balance sheet stress after recent amendments to its credit facility. But there are a few things worth noting"  
[X Link](https://x.com/2_Cents_Worthy/status/1977778326233346289)  2025-10-13T16:47Z [--] followers, [---] engagements


"Controlling shareholder Weichai has been slowly reducing its PSIX stake and now holds less than 50% of the company"  
[X Link](https://x.com/2_Cents_Worthy/status/1977778342033310203)  2025-10-13T16:47Z [--] followers, [--] engagements


"Certainly worth monitoring but given the AI-related theme the stronger balance sheet and recent run in sales I don't see this as the best short at this point in time"  
[X Link](https://x.com/2_Cents_Worthy/status/1977779419197665675)  2025-10-13T16:52Z [--] followers, [--] engagements


"Activist short selling was "the only way to consistently make money betting against stocks these days" according to Carson Block. Respectfully disagree. In my view money on the short side was made by the few skilled activists and on non-crowded names. https://www.ft.com/content/094ebfb0-bbd8-42c4-9e93-0116d1f896de https://www.ft.com/content/094ebfb0-bbd8-42c4-9e93-0116d1f896de"  
[X Link](https://x.com/2_Cents_Worthy/status/1978115644722643021)  2025-10-14T15:08Z [--] followers, [--] engagements


"$CABO finally forced to buy the remaining 55% stake in MBI for $485m because private equity firm GTCR exercised its put option. https://ir.cableone.net/news-events/investor-news/news-details/2026/Cable-One-to-Acquire-Full-Ownership-of-Mega-Broadband/default.aspx https://ir.cableone.net/news-events/investor-news/news-details/2026/Cable-One-to-Acquire-Full-Ownership-of-Mega-Broadband/default.aspx"  
[X Link](https://x.com/2_Cents_Worthy/status/2008358186307514388)  2026-01-06T02:01Z [---] followers, [---] engagements


"Over $1bn of debt is expected to hit the balance sheet in 4Q26. About $860m will come from the consolidation of MBI. The rest will come from the debt that $CABO has to raise to pay for the 55% Leverage up. Flexibility down"  
[X Link](https://x.com/2_Cents_Worthy/status/2008358188924760157)  2026-01-06T02:01Z [---] followers, [---] engagements


"$TROX senior unsecured due-2029 notes have recovered a bit but still trading at distressed levels"  
[X Link](https://x.com/2_Cents_Worthy/status/2011821949199269899)  2026-01-15T15:25Z [---] followers, [---] engagements


"Pro-forma cap structure for $TROX"  
[X Link](https://x.com/2_Cents_Worthy/status/2013263192219324424)  2026-01-19T14:52Z [---] followers, [--] engagements


"The companys recently issued $400 million senior secured notes due [----] contain a springing maturity clause i.e. If $TROX fails to reduce the [----] notes by $825 million by the end of [----] both the [----] and [----] notes become immediately due"  
[X Link](https://x.com/2_Cents_Worthy/status/2013263197441003987)  2026-01-19T14:52Z [---] followers, [---] engagements


"If my calculations are correct from 2026-2028 $TROX must service nearly $600 million of interest expense fund $800 million in purchase and capital commitments and retire at least $825 million of the [----] notes to avoid triggering the springing maturity"  
[X Link](https://x.com/2_Cents_Worthy/status/2013263200633127073)  2026-01-19T14:52Z [---] followers, [---] engagements


"$PAR sub Task is known as McDs loyalty provider outside the US. But now that McDs is investing in AI cloud and even customer loyalty programs what does this means for the huge price paid for Task. Future goodwill impairment Approx $182m for Task. https://www.newfoodmagazine.com/news/254651/mcdonalds-digital-transformation-accelerates-with-ai-cloud-platforms-and-loyalty-focus/ https://www.newfoodmagazine.com/news/254651/mcdonalds-digital-transformation-accelerates-with-ai-cloud-platforms-and-loyalty-focus/"  
[X Link](https://x.com/2_Cents_Worthy/status/1963942482003009934)  2025-09-05T12:29Z [--] followers, [---] engagements


"Stumbled across this Bharat Heavy announcement of a 10-year MoU with SG-based Horizon Fuel Cell Tech. https://fuelcellsworks.com/2025/09/05/clean-technology/bhel-inks-10-year-exclusive-deal-with-horizon-fuel-cell https://fuelcellsworks.com/2025/09/05/clean-technology/bhel-inks-10-year-exclusive-deal-with-horizon-fuel-cell"  
[X Link](https://x.com/2_Cents_Worthy/status/1964983471576887387)  2025-09-08T09:25Z [--] followers, [--] engagements


"I'm a bit of an old man. But the year has made me feel youngish all over again. I got to speak to and/or meet [--] of my forensic/short selling heroes. 1st meeting was in Singapore 2nd in Vietnam & the 3rd was over Zoom - guys whose work I have followed for at least [--] years"  
[X Link](https://x.com/2_Cents_Worthy/status/1971569874565816713)  2025-09-26T13:37Z [--] followers, [--] engagements


"Business has slowed and likely to stall or even decline. Originations of sales-type leases plunged 76% YoY to $22.8 million in 1H25 versus $96.5 million in the same period last year. This is a leading indicator that future revenue visibility is going down (2)"  
[X Link](https://x.com/2_Cents_Worthy/status/1975164365629174188)  2025-10-06T11:40Z [--] followers, [--] engagements


"3Q reports on NY's commercial real estate market have generally been positive but unclear whether that extends to Safeholds portfolio. Mgmt disclosed on the 2Q25 call that Safehold has a "forbearance agreement with a tenant under a significant New York asset". (3)"  
[X Link](https://x.com/2_Cents_Worthy/status/1975164369538330790)  2025-10-06T11:40Z [--] followers, [--] engagements


"LTM FCF was negative $200 million over the past [--] months meaning the $50.8 million in dividends were effectively debt-funded. A challenged business along with debt of $4.4 billion as of end-June means the risk of a dividend cut is rising. (5)"  
[X Link](https://x.com/2_Cents_Worthy/status/1975164374818931075)  2025-10-06T11:40Z [--] followers, [--] engagements


"Related party transactions with Star Holdings raises more red flags. Safehold provided Star with a $115 million loan and earns mgmt fees which creates an incentive to support Star's viability. (6)"  
[X Link](https://x.com/2_Cents_Worthy/status/1975164377608159584)  2025-10-06T11:40Z [--] followers, [--] engagements


"Star has only generated positive operating cash flow for [--] out of the last [--] quarters. (7)"  
[X Link](https://x.com/2_Cents_Worthy/status/1975164382020571324)  2025-10-06T11:41Z [--] followers, [--] engagements


"Star owns 18.9% or roughly [--] million shares of Safehold pledged as collateral for its own margin loan ($87.5 million) creating the possibility that a decline in Safehold's stock could trigger a forced sale of shares. (8)"  
[X Link](https://x.com/2_Cents_Worthy/status/1975164386122584394)  2025-10-06T11:41Z [--] followers, [--] engagements


"$LEGH Yet another CFO bites the dust. The third or fourth over the last [--] years. Just a few days after the CEO's resignation. And about a month before 3Q results. 2Q numbers really did not look good. 3Q bound to be worse Yikes"  
[X Link](https://x.com/2_Cents_Worthy/status/1976500538792427956)  2025-10-10T04:10Z [--] followers, [---] engagements


"$LEGH damage control. If so. then the company should have led with this announcement rather than the other way round"  
[X Link](https://x.com/2_Cents_Worthy/status/1976817598773051858)  2025-10-11T01:10Z [--] followers, [---] engagements


"GT Review on the use of supply chain financing (SCF) among US corporates naming auto parts retailers as some of the biggest users due to their need to hold large volumes of inventories. https://www.gtreview.com/news/americas/moodys-warns-over-unreasonable-supply-chain-finance-payment-terms/ https://www.gtreview.com/news/americas/moodys-warns-over-unreasonable-supply-chain-finance-payment-terms/"  
[X Link](https://x.com/2_Cents_Worthy/status/1980888187313717410)  2025-10-22T06:45Z [--] followers, [--] engagements


"More interesting is how the rating agencies view SCF balances. Moody's treats these balances as debt when terms are more than [--] days and are significantly above industry peers. S&P automatically treats balances as debt as long they are outstanding for more than [--] days"  
[X Link](https://x.com/2_Cents_Worthy/status/1980888189805162513)  2025-10-22T06:45Z [--] followers, [--] engagements


"The Marcum-equivalent of the ratings world perhaps. https://www.bloomberg.com/news/newsletters/2025-06-04/egan-jones-private-credit-ratings-draw-scrutiny-on-wall-street https://www.bloomberg.com/news/newsletters/2025-06-04/egan-jones-private-credit-ratings-draw-scrutiny-on-wall-street"  
[X Link](https://x.com/2_Cents_Worthy/status/1981945880333976044)  2025-10-25T04:48Z [--] followers, [--] engagements


"Wild chart from the FT. Specialized rating agencies include Egan-Jones KBRA Morningstar and AM Best"  
[X Link](https://x.com/2_Cents_Worthy/status/1981948684876304501)  2025-10-25T04:59Z [--] followers, [--] engagements


"$SLGN down by 13.6% after announcing 3Q results. Main driver was the revised outlook for the year: from $3.85-$4.05 to $3.66-$3.76"  
[X Link](https://x.com/2_Cents_Worthy/status/1983745746483736605)  2025-10-30T04:00Z [--] followers, [--] engagements


"Dispensing and specialty closures business. Sales up 23% YoY but that was due to Weener acquisition without which sales would have been flat"  
[X Link](https://x.com/2_Cents_Worthy/status/1983745749172297954)  2025-10-30T04:00Z [--] followers, [--] engagements


"Emphatic language such as "strong" and "record high" were widely used during the call"  
[X Link](https://x.com/2_Cents_Worthy/status/1985970822633214441)  2025-11-05T07:21Z [--] followers, [--] engagements


"Top short position holders in Storytel include JP Morgan and Ennismore"  
[X Link](https://x.com/2_Cents_Worthy/status/1985970828110893177)  2025-11-05T07:21Z [--] followers, [--] engagements


"In 3Q25 $CKI reported that revenue and other income were up 16.7% YoY to $38.9m. This includes $14.9m of fair value gains on investment properties using "an internal model and knowledge of various markets". Growth would have been just 1.6% without these gains"  
[X Link](https://x.com/2_Cents_Worthy/status/1986628379429511264)  2025-11-07T02:54Z [--] followers, [--] engagements


"Hotel segment not doing well with [--] out of [--] hotels recording "revenue declines compared to the same period in 2024""  
[X Link](https://x.com/2_Cents_Worthy/status/1986628383871291801)  2025-11-07T02:54Z [--] followers, [--] engagements


"$CKI has $99.2m in debt that falls due over the next [--] mths. Reported cash was $559k and there is $52.9m undrawn under revolving credit facilities. LTM FCF was negative $88.7m. Likely to continue as $CKI works towards the completion of multi-family properties in 2026"  
[X Link](https://x.com/2_Cents_Worthy/status/1986628386605904179)  2025-11-07T02:54Z [--] followers, [--] engagements


"Not trying to be rude but apart from the handful of short activists it seems that most of them can't do proper accounting and financial analysis. Nothing wrong with that. They are strong in other ways"  
[X Link](https://x.com/2_Cents_Worthy/status/1988961260889899327)  2025-11-13T13:24Z [--] followers, [--] engagements


"$CURI stock has jumped 23% since reporting 3Q results on the back of higher revenue improved operating cash flow and management dangling yet another dividend"  
[X Link](https://x.com/2_Cents_Worthy/status/1989211381804183885)  2025-11-14T05:58Z [--] followers, [---] engagements


"Now management is trying to pivot the narrative towards AI licensing. But investors have almost no visibility on key details: customer concentration contract terms pricing duration etc"  
[X Link](https://x.com/2_Cents_Worthy/status/1989211388250923491)  2025-11-14T05:58Z [--] followers, [--] engagements


"On the balance sheet accrued revenue share liabilities have ballooned from $956k in Dec last year to $7 million at the end of 3Q25. This means $CURI is deferring payments owed to content partners"  
[X Link](https://x.com/2_Cents_Worthy/status/1989211391665037451)  2025-11-14T05:58Z [--] followers, [--] engagements


"This delay boosted operating cash flow. While not illegal or unusual it is a working capital lever and not true operational strength. You can only pull it for so long"  
[X Link](https://x.com/2_Cents_Worthy/status/1989211395263795674)  2025-11-14T05:58Z [--] followers, [--] engagements


"Mgmt highlighted that the dividend yield now exceeds 8%. They also declared another payout bringing dividends for the year to $22 million. But annualized operating cash flow is only $12.1 million. So $CURI is paying out 1.8x more in dividends than it generates in cash"  
[X Link](https://x.com/2_Cents_Worthy/status/1989211397868368132)  2025-11-14T05:58Z [--] followers, [--] engagements


"In short: Revenue growth is real but there is no clarity on the future. The core DTC biz is shrinking with no clear path to recovery. Cash flow was higher but flattered by delayed payments. And dividends seem far higher than what the business can actually support. Buy more"  
[X Link](https://x.com/2_Cents_Worthy/status/1989211400175251738)  2025-11-14T05:58Z [--] followers, [--] engagements


"Waiting for $UBI which postponed the publication of half-year earnings just [--] minutes before its scheduled call with investors and has also requested for Euronext to suspend trading of shares and bonds today. No explanation for the delay. No new date specified"  
[X Link](https://x.com/2_Cents_Worthy/status/1989252414248255817)  2025-11-14T08:41Z [--] followers, [---] engagements


"Ocado's stock plunged 20% after announcing that key customer Kroger plans to close [--] underperforming warehouses developed with Ocado's technology"  
[X Link](https://x.com/2_Cents_Worthy/status/1991003520791982334)  2025-11-19T04:40Z [--] followers, [---] engagements


"Mgmt said that while fee revenue would be $50 million lower in FY26 the group still "expects significant growth in the US market both with CFCs and Store Based Automation". There are multiple headwinds"  
[X Link](https://x.com/2_Cents_Worthy/status/1991003524382310583)  2025-11-19T04:40Z [--] followers, [--] engagements


"Ocado's pitch was to license its tech to create automated distribution centres for grocers. But as reported in the FT Ocado's facilities "which require vast amounts of upfront investment need to be operating at close to capacity to deliver a return on that outlay""  
[X Link](https://x.com/2_Cents_Worthy/status/1991003527511261382)  2025-11-19T04:40Z [--] followers, [--] engagements


"Let's see what happens on Friday. $UBI is another name with a relatively big short party though Gerresheimer's is still bigger e.g. Marshall Wace Citadel SIH and Blackrock"  
[X Link](https://x.com/2_Cents_Worthy/status/1991144720517783773)  2025-11-19T14:01Z [--] followers, [---] engagements


"Singapore-based portfolio manager spouting platitudes on short selling. His fund has only generated 20% over a 5-year period. https://www.thegoodinvestors.sg/shorting-stocks-is-incredibly-tough-to-do/ https://www.thegoodinvestors.sg/shorting-stocks-is-incredibly-tough-to-do/"  
[X Link](https://x.com/2_Cents_Worthy/status/1994730614671773851)  2025-11-29T11:30Z [--] followers, [--] engagements


"$EVTL not commenting on the tech. But you have to wonder why this announcement was made. [--] execs and directors (i know not 16) held [------] shares earlier in the year. 50% of that figure costs roughly $2.5 million at yesterday's close. Is that meaningful across [--] people"  
[X Link](https://x.com/2_Cents_Worthy/status/1997195259600949426)  2025-12-06T06:43Z [--] followers, [---] engagements


"Whisper Aero CEO Mark Moore's comments on $EVTL's new concept somewhat calling it a step backward from their previous work and making comparisons to Chapter [--] Lilium"  
[X Link](https://x.com/2_Cents_Worthy/status/1998936875428622558)  2025-12-11T02:04Z [--] followers, [---] engagements


"Activist firm 3D Investment Partners' 100-page presentation on Final Fantasy game owner Square Enix ($9684). https://www.3dipartners.com/wp-content/uploads/square-enix-presentation-material-en-202512.pdf https://www.3dipartners.com/wp-content/uploads/square-enix-presentation-material-en-202512.pdf"  
[X Link](https://x.com/2_Cents_Worthy/status/2002661109531320637)  2025-12-21T08:43Z [--] followers, [--] engagements


"3D's main criticisms: only Jap gaming co with negative revenue growth lower operating margins and burning $140 million on write-offs for cancelled games. 3D says this is due to operational incompetence such as fragmented development teams and betting on wrong platforms"  
[X Link](https://x.com/2_Cents_Worthy/status/2002661111972401404)  2025-12-21T08:43Z [--] followers, [--] engagements


"The tools for spotting problematic credits have not changed: read the financial statements closely; interrogate the business model and capital structure; investigate the backgrounds of key executives and never allow the lure of doubledigit yields to override healthy scepticism"  
[X Link](https://x.com/2_Cents_Worthy/status/2008000946849362314)  2026-01-05T02:21Z [--] followers, [--] engagements


"Some things I saw when I read through the accounts include the deconsolidation of ORL which does not change its economic risk of holding the 50%-stake the reported sales growth came mostly from the now deconsolidated sub plus the higher debt and int exp"  
[X Link](https://x.com/2_Cents_Worthy/status/2009173731780804961)  2026-01-08T08:02Z [--] followers, [--] engagements


"Looking forward. One can't help but wonder if they will ever find anything close to Kroger. Now they seem to have little on their plate after the termination of exclusivity agreements in most markets"  
[X Link](https://x.com/2_Cents_Worthy/status/2009173734683496948)  2026-01-08T08:02Z [--] followers, [--] engagements


"If management is aggressive they can take this further. They can mark their retained stake at an inflated valuation and book a large gain on deconsolidation on day one. No cash comes in but reported profit spikes"  
[X Link](https://x.com/2_Cents_Worthy/status/2010650811295318062)  2026-01-12T09:51Z [--] followers, [--] engagements


"After that the company may start routing sales through the JV. Sales look better but this could be just round-tripping. The JV could also be used as a dumping ground for obsolete inventory & loss-making contracts"  
[X Link](https://x.com/2_Cents_Worthy/status/2010650814092812703)  2026-01-12T09:51Z [--] followers, [--] engagements


"To assess the substance of the transaction look for bits of info like guarantees on JV debt off-balance sheet funding lines and continued commitments to inject capital if the JV runs out of cash"  
[X Link](https://x.com/2_Cents_Worthy/status/2010650819851669813)  2026-01-12T09:51Z [--] followers, [--] engagements


"Singapore-listed Hotung Investment is a VC with a $100 million mkt cap. On its 3rd CFO since Apr [----]. The second CFO left on [--] Jan which is unusual because the company is likely in the midst of closing its books for the year-end audit"  
[X Link](https://x.com/2_Cents_Worthy/status/2010699951215702151)  2026-01-12T13:06Z [--] followers, [---] engagements


"@slowpokeinvest Been dropping for awhile due to what investors see as lackluster AI-related investments and the proliferation of freemium tools like Canva etc. The Goldman downgrade accelerated that downtrend. https://www.investing.com/news/analyst-ratings/goldman-sachs-downgrades-adobe-stock-rating-to-sell-with-290-price-target-93CH-4440696 https://www.investing.com/news/analyst-ratings/goldman-sachs-downgrades-adobe-stock-rating-to-sell-with-290-price-target-93CH-4440696"  
[X Link](https://x.com/2_Cents_Worthy/status/2011644327752286711)  2026-01-15T03:39Z [--] followers, [--] engagements


"Pop https://www.businesstimes.com.sg/companies-markets/pop-mart-shares-surge-traders-cheer-first-share-buyback-2024 https://www.businesstimes.com.sg/companies-markets/pop-mart-shares-surge-traders-cheer-first-share-buyback-2024"  
[X Link](https://x.com/2_Cents_Worthy/status/2013487779137888298)  2026-01-20T05:44Z [--] followers, [---] engagements


"Greenlight Capital's Fluor/NuScale trade (Source: [----] Investor letter)"  
[X Link](https://x.com/2_Cents_Worthy/status/2015807876762386733)  2026-01-26T15:23Z [--] followers, [---] engagements


"Leaving this here without comment. KBRA's recent pre-sale report on a certain consumer fintech name"  
[X Link](https://x.com/2_Cents_Worthy/status/2016136424165376117)  2026-01-27T13:09Z [--] followers, [--] engagements


"Why is $MAIN trading at nearly 2.0x book while most BDC peers are trading close to or below book value"  
[X Link](https://x.com/2_Cents_Worthy/status/2017267492788600972)  2026-01-30T16:03Z [---] followers, [----] engagements


"$KRNT down over 20% at the open. Been short for a while now. Lots of hype around digital transformation but essentially just sells overpriced printers"  
[X Link](https://x.com/2_Cents_Worthy/status/1953118048791216490)  2025-08-06T15:36Z [---] followers, [--] engagements


"Fluor was FCF positive and in a net cash position at the end of 3Q25. Plans to repurchase $800 million of shares through February 2026"  
[X Link](https://x.com/2_Cents_Worthy/status/2015807885985685632)  2026-01-26T15:23Z [---] followers, [---] engagements


"Fuchs now employs [----] people up from [----] at the end of [----] as shown below. (8/n)"  
[X Link](https://x.com/2_Cents_Worthy/status/2019350750435111138)  2026-02-05T10:01Z [---] followers, [--] engagements


"Then theres capital discipline. From 2020-9M25 divs and buybacks were higher than FCF after capex and acqns. Total net cash outflows: [-----] million. In 9M25 the company ran at breakeven on cash with FCF after acqns at 158m while the div payout was 153m. (9/n)"  
[X Link](https://x.com/2_Cents_Worthy/status/2019350753299820804)  2026-02-05T10:01Z [---] followers, [--] engagements


"Recent $OCDO squeeze an opportunity to short or more pain for the funds with disclosed positions"  
[X Link](https://x.com/2_Cents_Worthy/status/2009173728635089338)  2026-01-08T08:02Z [---] followers, [---] engagements


"In other cases the new partner is given a put option to sell the stake back at a fixed price. This creates a future liability. Another trick is where the company lends money to the JV. That money could be passed on to the buyer to finance the stake"  
[X Link](https://x.com/2_Cents_Worthy/status/2010650822456259001)  2026-01-12T09:51Z [---] followers, [--] engagements


"These deals usually line up with covenant pressure bonus targets IPO or secondary offering windows and rating agency reviews"  
[X Link](https://x.com/2_Cents_Worthy/status/2010650824956149974)  2026-01-12T09:51Z [---] followers, [---] engagements


"$BZAI up over 20% premarket on this press release concerning a "strategic collaboration" with Nokia"  
[X Link](https://x.com/2_Cents_Worthy/status/2016110998848200879)  2026-01-27T11:28Z [---] followers, [----] engagements


"Used Claude to scrape then map store locations and density for Sheng Siong and Fairprice supermarkets across Singapore. There are missing data points but it looks good for a first cut"  
[X Link](https://x.com/2_Cents_Worthy/status/2018167148305412377)  2026-02-02T03:38Z [---] followers, [--] engagements


"Now looking into French-listed defence-tech provider $EXA. Many interesting flags comes with a market cap of 1.4bn and priced at 3.4x NTM sales and 15.3x NTM EBITDA"  
[X Link](https://x.com/2_Cents_Worthy/status/1991049546173198732)  2025-11-19T07:42Z [---] followers, [---] engagements


"Looking at Swedish real estate portal Hemnet $HEM as a potential long. Down 50% YTD on falling transaction volumes and the decision to allow sellers to defer payment until after their property has been sold"  
[X Link](https://x.com/2_Cents_Worthy/status/1999084458000167010)  2025-12-11T11:50Z [---] followers, [---] engagements


"$HEM is the market leader in Sweden with [--] out of [--] property listings going through its website. In addition it seems that agents are incentivized to push listings through $HEM because they receive fees and commissions in return"  
[X Link](https://x.com/2_Cents_Worthy/status/1999084460407685254)  2025-12-11T11:50Z [---] followers, [---] engagements


"$HEM is often compared to $REA in Australia as their business models are similar i.e. sellers bear the cost of listing their properties rather than the agents in countries like Singapore"  
[X Link](https://x.com/2_Cents_Worthy/status/1999084462735519989)  2025-12-11T11:50Z [---] followers, [---] engagements


"One question that seems to float around is whether brokers are bypassing $HEM and listing properties on their website. So I did a quick and dirty check of fastighetsbyran's website supposedly Sweden's largest real estate broker"  
[X Link](https://x.com/2_Cents_Worthy/status/1999084464912445910)  2025-12-11T11:50Z [---] followers, [---] engagements


"Looked at listings within the Nacka municipality whatever you call it and checked whether the same listings appear on $HEM's website. There were over [---]. I looked at [--] and managed to find 60% of them on $HEM. This suggests up to 40% of listings do not go through $HEM"  
[X Link](https://x.com/2_Cents_Worthy/status/1999084467227590869)  2025-12-11T11:50Z [---] followers, [---] engagements


"But I do not have data over time. More needs to be collecte over time before any conclusion can be drawn. In any case the big question is whether $HEM's price represents a buying opportunity or a trap"  
[X Link](https://x.com/2_Cents_Worthy/status/1999084469744292026)  2025-12-11T11:50Z [---] followers, [---] engagements


"An Aussie fund one of its biggest investors argues there is still a long growth runway when it comes to raising ASP. Perhaps they are right over the long term"  
[X Link](https://x.com/2_Cents_Worthy/status/2021021871656009965)  2026-02-10T00:42Z [---] followers, [--] engagements


"But over the short to mid term I see weakness. First was their move to allow sellers to pay only upon successful sales completion. Yes I can see why this is customer friendly. But it is relatively new and seems kind of forced in my view. So don't shoot me. Just my view"  
[X Link](https://x.com/2_Cents_Worthy/status/2021021874084512069)  2026-02-10T00:42Z [---] followers, [--] engagements


"https://www.junkbondinvestor.com/p/the-bdc-primer-part-1 https://www.junkbondinvestor.com/p/the-bdc-primer-part-1"  
[X Link](https://x.com/anyuser/status/2021030483078037774)  2026-02-10T01:16Z 44K followers, [----] engagements


"RT @Restructuring__: This is a very interesting piece The impact that Nemecek has had cannot be overstated He literally created LMEs and"  
[X Link](https://x.com/anyuser/status/2022134750044205153)  2026-02-13T02:24Z [---] followers, [--] engagements


"This is a very interesting piece The impact that Nemecek has had cannot be overstated He literally created LMEs and the most famous declinations absolutely wild to see this unfolding For reference he worked on: - Neiman Marcus and the spin-off of MyTheresa - PetSmart on a drop-down transaction of Chewy - Boardriders Envision Healthcare Carvana and Better Health etc. As the fallout from Optimum's antitrust lawsuit continues one question is dominating the restructuring world: What will become of the driving force behind Kirkland & Elliss dominant company-side liability management practice Read"  
[X Link](https://x.com/anyuser/status/2022132979531645290)  2026-02-13T02:17Z 47.2K followers, 21.2K engagements


"As the fallout from Optimum's antitrust lawsuit continues one question is dominating the restructuring world: What will become of the driving force behind Kirkland & Elliss dominant company-side liability management practice Read more on @9finHQ: https://9fin.com/insights/the-rise-of-kirkland-lme-juggernaut-and-what-its-future-holds https://9fin.com/insights/the-rise-of-kirkland-lme-juggernaut-and-what-its-future-holds"  
[X Link](https://x.com/anyuser/status/2021671722282373423)  2026-02-11T19:44Z [----] followers, 23.9K engagements


"Catchy take on this classic Chinese song. 😍 Seedance made this MV ft. Kayne West. Its so well made that its going viral on Chinese internet. https://t.co/vUrlgIqVeX Seedance made this MV ft. Kayne West. Its so well made that its going viral on Chinese internet. https://t.co/vUrlgIqVeX"  
[X Link](https://x.com/anyuser/status/2022117091298750634)  2026-02-13T01:14Z [---] followers, [---] engagements


"Seedance made this MV ft. Kayne West. Its so well made that its going viral on Chinese internet"  
[X Link](https://x.com/anyuser/status/2021630653226455243)  2026-02-11T17:01Z 336.6K followers, 2.1M engagements


"Excellent overview of Spanish-listed $AMS. Anyone able to share the bear case pls https://open.spotify.com/episode/1QJUM3ADDB7N5XL4ocYOZi https://open.spotify.com/episode/1QJUM3ADDB7N5XL4ocYOZi"  
[X Link](https://x.com/anyuser/status/2022115220085481472)  2026-02-13T01:06Z [---] followers, [--] engagements


"Had to cover my position on defence comms provider Invisio on today's results. My initial thesis was that North American sales would collapse because of the shutdown. That did happen but I underestimated the pick up in European sales"  
[X Link](https://x.com/anyuser/status/2021951280915308653)  2026-02-12T14:15Z [---] followers, [---] engagements


"I first looked at Hemnet from the perspective of a potential long holder. It's a market leader with 90% share that has been able to raise prices over a long time period"  
[X Link](https://x.com/anyuser/status/2021021869227516096)  2026-02-10T00:42Z [---] followers, [---] engagements


"And last of all. the company has been spending quite a bit on share buybacks to support its share price. Personally I would rather they either pay that out in dividends or direct the money towards development/expansion"  
[X Link](https://x.com/anyuser/status/2021021879193174538)  2026-02-10T00:42Z [---] followers, [--] engagements


"I don't think this is a short. but i'm also not sure whether it is a long at this point"  
[X Link](https://x.com/anyuser/status/2021022019681386767)  2026-02-10T00:42Z [---] followers, [--] engagements


"Heres what each company does in AI"  
[X Link](https://x.com/anyuser/status/2020306015204376998)  2026-02-08T01:17Z [----] followers, 478.2K engagements


"Financial market data & services. From my latest update on $FDS. - A group averaging 30.2% EBIT margins and 28.2% FCF margins. - In my opinion [--] of the [--] highest quality companies in the world are on this list. - The weaker (but good) quality of the bunch (Gartner Factset & Wolters Kluwer) have seen the steepest valuation cuts. - Long-term either of them 15x P/E should be a good deal. - A basket approach mixing the less but good quality names and some higher quality stuff (S&P Global in particular) is a good strategy. My thoughts. https://twitter.com/i/web/status/2019325078907895889"  
[X Link](https://x.com/anyuser/status/2019325078907895889)  2026-02-05T08:19Z [----] followers, [----] engagements


"Have been tracking real estate listings on Hemnet's site for a week. Only a short time but listings seem to dropping quite dramatically"  
[X Link](https://x.com/anyuser/status/2019620852841742660)  2026-02-06T03:55Z [---] followers, [---] engagements


"We are Short Electro Optic Systems Holdings Ltd $EOS.AX Our new report EOS Behind the Hype: Unmasking the Dark Reality of the Mysterious Korean Contract can be found here: https://grizzlyreports.com/eos/ https://grizzlyreports.com/eos/"  
[X Link](https://x.com/anyuser/status/2019520873909092630)  2026-02-05T21:17Z 52.5K followers, 45.7K engagements


"MUST-WATCH: How David Orr Built Militia Capital David Orr (@orrdavid) played professional poker in Thailand got squeezed out by bots then taught himself to invest from scratch. Today Militia Capital manages a multi-PM platform with [----] positions. No Wharton MBA. No analyst years. Just 15-hour days reading up on stocks and thinking in expected value. "I don't need to boost my own ego and prove my idea will be right in [--] years. If it's not making money within months or a couple quarters I'm wrongand I cut it completely." We cover: - Why the "Bet Against Beta" paper destroyed everything he"  
[X Link](https://x.com/anyuser/status/2019416370459410833)  2026-02-05T14:22Z [----] followers, 89.1K engagements


"Fuchs SE is a structurally challenged lubricant supplier. Sales at the Frankfurt listco rose 50% from [---] billion in [----] to [---] billion in [----]. This growth masks the deterioration within the groups auto lubricant business in Europe. (1/n)"  
[X Link](https://x.com/anyuser/status/2019350726074593412)  2026-02-05T10:01Z [---] followers, [---] engagements


"Funding a div in a shrinking market where organic growth is almost zero and costs stay stubbornly high is a recipe for disaster. (12/n)"  
[X Link](https://x.com/anyuser/status/2019350762556649851)  2026-02-05T10:01Z [---] followers, [---] engagements


"That said Fuchs has a record of [--] consecutive years of div increases. A family-influenced board (the Fuchs family holds 58% of ordinary shares) may be willing to take on more debt to preserve this record even if its economically irrational. (13/n)"  
[X Link](https://x.com/anyuser/status/2019350764989346304)  2026-02-05T10:01Z [---] followers, [---] engagements

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