# ![@HugoManenti Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1386362504205455360.png) @HugoManenti Hugo Manenti

Hugo Manenti posts on X about $cnxc, balance sheet, ai, stocks the most. They currently have [-----] followers and [---] posts still getting attention that total [-----] engagements in the last [--] hours.

### Engagements: [-----] [#](/creator/twitter::1386362504205455360/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1386362504205455360/c:line/m:interactions.svg)

- [--] Week [------] -27%
- [--] Month [-------] -99%
- [--] Months [----------] +525,103%
- [--] Year [----------] +1,192,770%

### Mentions: [--] [#](/creator/twitter::1386362504205455360/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1386362504205455360/c:line/m:posts_active.svg)

- [--] Month [--] +22%
- [--] Months [--] +114%
- [--] Year [---] +541%

### Followers: [-----] [#](/creator/twitter::1386362504205455360/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1386362504205455360/c:line/m:followers.svg)

- [--] Week [-----] +0.21%
- [--] Month [-----] +0.53%
- [--] Months [-----] +3.90%
- [--] Year [-----] +6.90%

### CreatorRank: [---------] [#](/creator/twitter::1386362504205455360/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1386362504205455360/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[finance](/list/finance)  [stocks](/list/stocks)  [countries](/list/countries)  [travel destinations](/list/travel-destinations)  [cryptocurrencies](/list/cryptocurrencies)  [technology brands](/list/technology-brands)  [fashion brands](/list/fashion-brands)  [automotive brands](/list/automotive-brands) 

**Social topic influence**
[$cnxc](/topic/$cnxc), [balance sheet](/topic/balance-sheet), [ai](/topic/ai), [stocks](/topic/stocks), [inflation](/topic/inflation), [business](/topic/business), [$amtm](/topic/$amtm), [in the](/topic/in-the), [fed](/topic/fed), [space](/topic/space)

**Top accounts mentioned or mentioned by**
[@teddygambino](/creator/undefined) [@econstratpb](/creator/undefined) [@aggiecapitalist](/creator/undefined) [@agnostoxxx](/creator/undefined) [@bigorrin](/creator/undefined) [@blondesnmoney](/creator/undefined) [@beentherecap](/creator/undefined) [@txmctrades](/creator/undefined) [@aureliusltd28](/creator/undefined) [@casinocapital](/creator/undefined) [@concentrix](/creator/undefined) [@dalibali2](/creator/undefined) [@jaynemesis](/creator/undefined) [@harrydunn88](/creator/undefined) [@revcap](/creator/undefined) [@tommydeepwater](/creator/undefined) [@jayinkyiv](/creator/undefined) [@rakoraja](/creator/undefined) [@globalflows](/creator/undefined) [@uzocapital](/creator/undefined)

**Top assets mentioned**
[Concentrix Corporation Common Stock (CNXC)](/topic/$cnxc) [Amentum Holdings, Inc. (AMTM)](/topic/$amtm) [Builders FirstSource, Inc. (BLDR)](/topic/$bldr) [Taylor Morrison Home Corporation Common Stock (TMHC)](/topic/$tmhc) [FIVE9, INC. (FIVN)](/topic/$fivn) [Matador Resources, Co. (MTDR)](/topic/$mtdr) [Copa Holdings, S.A. (CPA)](/topic/$cpa) [D R Horton Inc (DHI)](/topic/$dhi) [Xponential Fitness, Inc. (XPOF)](/topic/$xpof) [Lennar Corporation (LEN)](/topic/$len) [Powell Industries Inc (POWL)](/topic/$powl) [Flywire Corporation (FLYW)](/topic/$flyw) [Cushman & Wakefield plc Ordinary Shares (CWK)](/topic/$cwk) [CBRE Group Inc (CBRE)](/topic/$cbre) [Jones Lang LaSalle, Inc. (JLL)](/topic/$jll) [Boeing Co (BA)](/topic/$ba) [Accenture (ACN)](/topic/accenture) [Kenvue Inc. (KVUE)](/topic/$kvue) [QUALCOMM, Inc. (QCOM)](/topic/$qcom) [Applied Materials, Inc. (AMAT)](/topic/$amat) [Enphase Energy Inc (ENPH)](/topic/$enph) [SolarEdge Technologies, Inc. (SEDG)](/topic/$sedg) [M/I Homes, Inc. (MHO)](/topic/$mho) [Exxon Mobil (XOM)](/topic/$xom) [Pioneer Natural Resources Co (PXD)](/topic/$pxd)
### Top Social Posts
Top posts by engagements in the last [--] hours

"@bitc0inarmadil0 Absolutely Thats been the whole rationale behind my investments in retailers / consumer companies last quarter. After last years lockdown Christmas I am expecting consumers to continue to splurge until year end"  
[X Link](https://x.com/HugoManenti/status/1460617268476485645)  2021-11-16T14:34Z [----] followers, [--] engagements


"@uraniumkev To me it looks like the bottom of iii of C down (EW terminology) which is where I usually buy my first tranche. I would expect a bounce follow by one last lower low Which I guess is equal to forming a base 😅"  
[X Link](https://x.com/HugoManenti/status/1520061056588165121)  2022-04-29T15:22Z [----] followers, [--] engagements


"Next challenge will be reconstruction - hopefully very soon"  
[X Link](https://x.com/HugoManenti/status/1587835624060510214)  2022-11-02T15:54Z [----] followers, [--] engagements


"Another fascinating topic was the many applications of the #Metaverse - including industrial. @Accenture gave us a great demo of how the combination of #Metaverse and #robotics is driving safety and productivity improvements. $SIE.DE $U $ACN"  
[X Link](https://x.com/HugoManenti/status/1587836540926951429)  2022-11-02T15:58Z [----] followers, [--] engagements


"Many times have I said this is the last time I fly with @Ryanair but that might just do it. Garbage everywhere and theres nothing we can do about it. 🤢"  
[X Link](https://x.com/HugoManenti/status/1604861426576904192)  2022-12-19T15:29Z [----] followers, [----] engagements


"Short $RYAAY long $IAG.L"  
[X Link](https://x.com/HugoManenti/status/1604862072231235586)  2022-12-19T15:31Z [----] followers, [---] engagements


"@agnostoxxx $KVUE will be a good proxy for the consumer health business"  
[X Link](https://x.com/HugoManenti/status/1633533864613126144)  2023-03-08T18:23Z [----] followers, [---] engagements


"@_fabknowledge_ Like $QCOM here (& others). Some semicaps had great ERs (looking at you $AMAT) but barely moved off of those delayed reaction Or AI craze expanding into semicaps"  
[X Link](https://x.com/HugoManenti/status/1658884076646932482)  2023-05-17T17:15Z [----] followers, [--] engagements


"CPI minus shelter dangerously headed towards 0% with real-time rents / home prices flat or worse Are they really going to hike into this Groupthink at its worst"  
[X Link](https://x.com/HugoManenti/status/1679130180206354432)  2023-07-12T14:06Z [----] followers, [--] engagements


"Ill take a well-deserved victory lap after those shocking $DHI earnings. I was supper bullish (and put a lot of money into) homebuilders. At the bottom ;)"  
[X Link](https://x.com/HugoManenti/status/1681983389480505344)  2023-07-21T01:59Z [----] followers, [----] engagements


"Fair to say it has played out even better than in my wildest dreams. Ive been taking profit and cut $TMHC and $BLDR down to 10% of the portfolio (from 17%) - arguably too early. Now thinking we should be close to a top of sorts but seeing no indication of it yet"  
[X Link](https://x.com/HugoManenti/status/1681983885016457217)  2023-07-21T01:59Z [----] followers, [---] engagements


"@jaynemesis $ENPH was particularly awful - and $SEDG might be even worse next week 😬 Signs that the business is finally bottoming though"  
[X Link](https://x.com/HugoManenti/status/1717874410147688925)  2023-10-27T12:02Z [----] followers, [---] engagements


"Banks with ST financing + longish duration on their lending books eg ALLY (NIM expansion). Can hedge credit risk with a short on credit card providers or CACC. Any business with high leverage and variable rate debt. Can hedge with non levered peer. Crypto and gold miners although you may want to wait a bit. All depends on why and when Fed cuts ofc"  
[X Link](https://x.com/HugoManenti/status/1722283045556765056)  2023-11-08T16:00Z [----] followers, [---] engagements


"Builders heard the pivot - loud and clear. Should be good news for them and home buyers - [----] should see better demand / supply balance assuming rate volatility subsides. Also good news for shelter CPI in [--] months' time 🤪 $BLDR $TMHC $MHO"  
[X Link](https://x.com/HugoManenti/status/1737108680854913512)  2023-12-19T13:52Z [----] followers, [---] engagements


"Thinking the debate around hard / soft / no landing is already stale. PCE shows that the economy has already soft landed. Inflation back to target and resilient economy. The real question is what comes after Goldilocks Takes off again due to fiscal impulse Deflation due to lagging effects / inverted yield curve"  
[X Link](https://x.com/HugoManenti/status/1738198329501102350)  2023-12-22T14:02Z [----] followers, [----] engagements


"@TeddyGambino M&A and new gen fleets should help with share & GM Also shows strategic proactivity. Underwhelming Q for sure though. Might have to do with top [--] customers being under M&A"  
[X Link](https://x.com/HugoManenti/status/1760358199968883192)  2024-02-21T17:37Z [----] followers, [--] engagements


"@TeddyGambino Agreed. I guess XOM gets to decide - being top customer and shareholder. PUMP team seems young and motivated though so who knows they may relent"  
[X Link](https://x.com/HugoManenti/status/1760366590468440411)  2024-02-21T18:11Z [----] followers, [--] engagements


"@TeddyGambino That's a buy signal hah The more I think about it though and Permian is where you want to be. New equipment clean balance sheet doing the right M&A. it's an attractive proposition imo. Any views on management They cleaned house over the last couple of years"  
[X Link](https://x.com/HugoManenti/status/1761089606320038173)  2024-02-23T18:04Z [----] followers, [--] engagements


"Looking like goldilocks so far but watching out for a re-acceleration in industrial sectors globally. As predicted we are in fiscal dominance and the Fed won't risk a recession for a few bps of lower PCE Thinking the debate around hard / soft / no landing is already stale. PCE shows that the economy has already soft landed. Inflation back to target and resilient economy. The real question is what comes after Goldilocks Takes off again due to fiscal impulse Deflation due to Thinking the debate around hard / soft / no landing is already stale. PCE shows that the economy has already soft landed."  
[X Link](https://x.com/HugoManenti/status/1770769486007734496)  2024-03-21T11:08Z [----] followers, [---] engagements


"@TeddyGambino Lots of free cash flow generation now that fleet investment is mostly done. And that's in a down market"  
[X Link](https://x.com/HugoManenti/status/1783253445966737803)  2024-04-24T21:55Z [----] followers, [---] engagements


"@TeddyGambino Who do $XOM (pre $PXD acquisition) work with in the Permian Id probably look that way"  
[X Link](https://x.com/HugoManenti/status/1783263446479298626)  2024-04-24T22:35Z [----] followers, [---] engagements


"@2x4caster On just reconfirming the full year guide. imagine if they'd missed Early cycle products were strong so there'll be another tailwind for late cycle stuff (windows garage doors etc.) later on this year"  
[X Link](https://x.com/HugoManenti/status/1787864864372748582)  2024-05-07T15:19Z [----] followers, [---] engagements


"No real pushback but if they get mortgage rates back to say 4.5% that'll help with affordability and reviving the housing market. I'd call that a soft landing and take my hat off. If not given the state of housing it won't be long before we get job losses and the landing won't be soft"  
[X Link](https://x.com/HugoManenti/status/1821755487748022580)  2024-08-09T03:48Z [----] followers, [---] engagements


"@psyopcapital $MLI - does not even hold quarterly calls"  
[X Link](https://x.com/HugoManenti/status/1831947811732255026)  2024-09-06T06:49Z [----] followers, [----] engagements


"Happened a year ago and they still cant see it A couple of hot CPI prints in Q1 and were no-landing a couple of weak payrolls this summer and were in recession 🤦♂🤦♂🤦♂ People are still questioning the soft landing. You cannot make this up. This is it folks. Giddy up and start shopping for Christmas. People are still questioning the soft landing. You cannot make this up. This is it folks. Giddy up and start shopping for Christmas"  
[X Link](https://x.com/HugoManenti/status/1842191061533552896)  2024-10-04T13:12Z [----] followers, [----] engagements


"@BeenThereCap Still in $XPOF though"  
[X Link](https://x.com/HugoManenti/status/1849819405326471365)  2024-10-25T14:24Z [----] followers, [---] engagements


"@atelicinvest That guy tanked $TEP and $CNXC a gazillion times this year"  
[X Link](https://x.com/HugoManenti/status/1868689772790882754)  2024-12-16T16:08Z [----] followers, [---] engagements


"@harrydunn88 Meanwhile the SPY / IWM divergence looks exactly like late [----] 👀"  
[X Link](https://x.com/HugoManenti/status/1871216480853062079)  2024-12-23T15:29Z [----] followers, [---] engagements


"$LEN seem out to lunch. So far weakness is limited to the low end and specific markets and buyers are responding to incentives (as per KBH call). The Q is - does it eventually spread to the higher end of the market Will be a tell for the economy. So far focusing on quality and diversification has worked. $TMHC down 3.5% YoY $LEN down 28%"  
[X Link](https://x.com/HugoManenti/status/1905701525751808381)  2025-03-28T19:20Z [----] followers, [--] engagements


"Is that $OSCR eating $UNH's lunch"  
[X Link](https://x.com/HugoManenti/status/1912950062369436154)  2025-04-17T19:23Z [----] followers, [----] engagements


"@_t1capital GEV and AGX as well on the power side There'll likely be more"  
[X Link](https://x.com/HugoManenti/status/1916664026026713264)  2025-04-28T01:21Z [----] followers, [--] engagements


"If GDP growth = productivity x hours worked and hours worked = labour force x participation then no labour force growth means lower gdp growth all other things equal Many assumptions I know. But imo the corollary of what you are saying (which I agree with) is slower growth. Slower growth and lower recession risk = less cyclicality"  
[X Link](https://x.com/HugoManenti/status/1918286934616768585)  2025-05-02T12:50Z [----] followers, [--] engagements


"@rev_cap New home sales picking up though so far this year. Could it be mostly a story of production getting ahead of itself Market not yet in balance but hard to be too bearish at those sales levels https://www.census.gov/construction/nrs/current/index.html https://www.census.gov/construction/nrs/current/index.html"  
[X Link](https://x.com/HugoManenti/status/1935396475594326155)  2025-06-18T17:57Z [----] followers, [--] engagements


"@rev_cap And then go for $BLDR. Raise equity at 40x buy the leading platform for 15x. Michael Saylor playbook"  
[X Link](https://x.com/HugoManenti/status/1935647791826567430)  2025-06-19T10:36Z [----] followers, [--] engagements


"If it muddles though over the summer there's a chance yields respond and the Fed cuts comes September = bull steepening that gets rate-sensitive sectors out of their multi-year slump. Bullish Q4. If yields don't respond though you may muddle through for a long time. I think that's called the UK"  
[X Link](https://x.com/HugoManenti/status/1935988439129768145)  2025-06-20T09:09Z [----] followers, [--] engagements


"@TommyDeepwater That'd make a lot of sense. The balance sheet has room for it"  
[X Link](https://x.com/HugoManenti/status/1938268940280447252)  2025-06-26T16:11Z [----] followers, [--] engagements


"@JayinKyiv @Big_Orrin The price of everything has x2 in Lisbon since they discovered it truly insane"  
[X Link](https://x.com/HugoManenti/status/1938931678166110676)  2025-06-28T12:05Z [----] followers, [--] engagements


"@Big_Orrin @JayinKyiv Lived in both left when they became as expensive as Paris and as crowded as Venice. Madrids climate not for me. Love Valencia but its already in the process of Barcelonification"  
[X Link](https://x.com/HugoManenti/status/1938933895044448321)  2025-06-28T12:13Z [----] followers, [--] engagements


"Wouldn't you rather secure long term supply e.g. with Chile at market prices If your end goal is to reshore critical manufacturing / inputs - which copper isn't - then this is doing the opposite by hurting everything downstream of copper. So raise tariffs even higher to protect those Where does it end If the cost of building a factory become prohibitive they might just wait until the midterms"  
[X Link](https://x.com/HugoManenti/status/1943204269219291582)  2025-07-10T07:02Z [----] followers, [---] engagements


"I feel more confident in the permanence of Chile's inclination towards the USA (courtesy of the CIA) than that of Trump's version of statecraft / tariffs. But maybe that's just the cynic in me ;) More broadly though my point is that I'd rather first focus on repatriating downstream industries at the fastest speed & lowest possible cost & work my way up from there. Anyway appreciate the analysis every morning"  
[X Link](https://x.com/HugoManenti/status/1943209874935947423)  2025-07-10T07:25Z [----] followers, [--] engagements


"Ever-clearer that the rules of the game have changed. Rules-based order abandoned for economic statecraft with a pinch of fait-du-prince. Staying long equities and debasement assets with particular focus on US onshoring / critical industries commodities and AI. Markets high on renewed US dominance - and the looks of it. Riding it until the bill comes due"  
[X Link](https://x.com/HugoManenti/status/1943246934220669151)  2025-07-10T09:52Z [----] followers, [---] engagements


"@EconstratPB Id pay maybe [--] at a gig in Lisbon and feel scammed. Europoors never had it so good 🤷♂"  
[X Link](https://x.com/HugoManenti/status/1943917139905142921)  2025-07-12T06:15Z [----] followers, [---] engagements


"@Investor_NICK_ Footwear has had a really rough few months $CROX has a similar setup - with a few higher lows. Cheap low expectations. $VFC more of a turnaround but decent parameters as well. With China Vietnam Indonesia deals done tariff uncertainty is mostly behind us"  
[X Link](https://x.com/HugoManenti/status/1945604999267889310)  2025-07-16T22:02Z [----] followers, [---] engagements


"@TXMCtrades $8bn is enough for generations of inflation. what are people on"  
[X Link](https://x.com/HugoManenti/status/1949128610838675777)  2025-07-26T15:24Z [----] followers, [---] engagements


"@TeddyGambino @rakoraja I like the team hope they can stay independent but I would not be surprised to see $LBRT make a move especially if the share price doesnt improve. Others would make sense but many bad balance sheets out there"  
[X Link](https://x.com/HugoManenti/status/1950529657096581572)  2025-07-30T12:11Z [----] followers, [--] engagements


"@TommyDeepwater Thank you Tommy I thought it was really constructive for the industry. Now need to pick my horse. VAL has clear upside but capital allocation is a real question mark. NE is great but dividends are not tax efficient. RIG is RIG"  
[X Link](https://x.com/HugoManenti/status/1950966937552298157)  2025-07-31T17:08Z [----] followers, [---] engagements


"@TXMCtrades Banana Republic for me not for thee"  
[X Link](https://x.com/HugoManenti/status/1950971366020108471)  2025-07-31T17:26Z [----] followers, [--] engagements


"@AggieCapitalist Anything CX related trades like AI will wipe it out next year. e.g. $CNXC at 4x EPS despite reaccelerating topline. $FIVN looks really interesting here"  
[X Link](https://x.com/HugoManenti/status/1951019463005905328)  2025-07-31T20:37Z [----] followers, [----] engagements


"@0xAmSS I actually exited TEP on the view that specialised services would have a rough year (if not more). But here I am focused on the read-across for CNXC which is positive (they dont have specialised services) and yet the stock tanked. Algo trading at its finest"  
[X Link](https://x.com/HugoManenti/status/1951039229053558895)  2025-07-31T21:56Z [----] followers, [---] engagements


"@Globalflows Weak labour data that pushes the Fed to cut 2x or more while NDGP reaccelerates is bullish - after positioning gets unwound. Repeat of last summer recession fakeout"  
[X Link](https://x.com/HugoManenti/status/1951297414201069701)  2025-08-01T15:02Z [----] followers, [----] engagements


"@ZmansEnrgyBrain Who gets $MTDR then"  
[X Link](https://x.com/HugoManenti/status/1951312045862711557)  2025-08-01T16:00Z [----] followers, [---] engagements


"@AggieCapitalist Really like the idea. Share performance today might have to do with the TTEC news and TP's earnings CNXC down 20% this week on no news. 5x FCF but LSD growth. AI a tailwind when consensus is it'll destroy the business"  
[X Link](https://x.com/HugoManenti/status/1951326613347475912)  2025-08-01T16:58Z [----] followers, [--] engagements


"It doesnt get any attention but $CPA might have the best execution of any airline since Covid started. Pristine balance sheet continued cost reductions leading on-time performance cant fault anything. You only wish competition was a little more rational but thats not under their control"  
[X Link](https://x.com/HugoManenti/status/1953216700058321239)  2025-08-06T22:08Z [----] followers, [---] engagements


"Feels like the softening story is overblown tbh system sales are still guided at +13%. Mostly a SL issue with other core brands still doing fine. CP has more of a supply than a demand problem - need more studios and/or higher prices (both underway). Current studios are pretty much maxed out so lower comp growth but thats bullish not bearish. New CEO maybe slightly less impressive but I rate Kawaja highly. Thought hed get promoted. Hopefully new CFO next year and they dont get sold too soon / cheap"  
[X Link](https://x.com/HugoManenti/status/1953916163194597543)  2025-08-08T20:28Z [----] followers, [--] engagements


"@TeddyGambino DVN tries MTDR first Honestly the three of them should be folded together"  
[X Link](https://x.com/HugoManenti/status/1954477317805281643)  2025-08-10T09:37Z [----] followers, [--] engagements


"The problem with the offering is that the float is so thin that it almost doubled it. explains part of the poor reaction. Also I suppose many were there for the potential squeeze which will now not happen with a float 2x the size. So they ran for the exits. Really terrible execution they could have done it at $10 not now near the bottom of the cycle. Sends the wrong message. I don't think I've ever seen a stock down 40% on a capital raise. Plus they had other options as you say. $PUMP is significantly cheaper and has a clean balance sheet. Will survive and be able to play offense"  
[X Link](https://x.com/HugoManenti/status/1955982303563293098)  2025-08-14T13:18Z [----] followers, [---] engagements


"@TeddyGambino @Rytetz29 @tsxman Whoever worked on that deal are about to lose their cushy bank job"  
[X Link](https://x.com/HugoManenti/status/1955991528716816754)  2025-08-14T13:54Z [----] followers, [---] engagements


"@Cash_Flow_Cap @secretlyaninja I think the Capital Markets Day will solve that. Should be fireworks"  
[X Link](https://x.com/HugoManenti/status/1958901575918719323)  2025-08-22T14:38Z [----] followers, [--] engagements


"Best Thai food is in Chiang Mai wtf 😂 Greek / Spanish food abroad is heresy. Paris dining is the most hit and miss for me. Best sushi imho is on the Sea of Japan side - places like Kanazawa Kinosaki. Tokyo close second. Lima fantastic. Fish in the South Pacific is great but Chileans dont know what to do with it. Thankful for the Peruan-Japanese chefs. Salmon avocado and cream cheese belong to toasted bread after your pilates class. Keep rice away please. Thanks for listening to my Ted talk"  
[X Link](https://x.com/HugoManenti/status/1959561460926792033)  2025-08-24T10:20Z [----] followers, [---] engagements


"@agnostoxxx Turns out NVDA down = money moving further out the AI risk curve 😂"  
[X Link](https://x.com/HugoManenti/status/1961077764716396818)  2025-08-28T14:45Z [----] followers, [--] engagements


"@EconstratPB Robin's mad because Italy vs. Germany spreads have been tightening Spain is growing at 5x the rate of Germany Portugal and Greece have a budget surplus. yawn"  
[X Link](https://x.com/HugoManenti/status/1961422107092430875)  2025-08-29T13:34Z [----] followers, [--] engagements


"@blondesnmoney Tried playing both sides. oops"  
[X Link](https://x.com/HugoManenti/status/1965428590146892287)  2025-09-09T14:54Z [----] followers, [----] engagements


"@Big_Orrin Whats the point of OPEC though if they cant enforce a cut or not overproduce their quotas Could set the stage for a lot more vol in the oil market when people realise theres no police anymore"  
[X Link](https://x.com/HugoManenti/status/1973005185061687541)  2025-09-30T12:41Z [----] followers, [---] engagements


"@EconstratPB @Aureliusltd28 Our finances are third world but our legal tax and regulatory systems are truly world class 😅 Wealth tax is back on the table (and will absolutely be mis-spent) so I'd bring my $10 mil elsewhere eg Italy and its flat tax"  
[X Link](https://x.com/HugoManenti/status/1975604300949954770)  2025-10-07T16:49Z [----] followers, [--] engagements


"Important to remember what CRE consists of 👇 Its not uniform and its not all headed for a downturn (macro conditions allowing). From $MTB Q1 call"  
[X Link](https://x.com/HugoManenti/status/1648246758407847936)  2023-04-18T08:47Z [----] followers, [----] engagements


"🤡 $PACW $KRE Or is he doing it on purpose FED'S POWELL: UNDER THE BANKING STRESS FRC DRAWS A LINE. FED'S POWELL: UNDER THE BANKING STRESS FRC DRAWS A LINE"  
[X Link](https://x.com/HugoManenti/status/1653870483572416512)  2023-05-03T21:13Z [----] followers, [---] engagements


"@BeenThereCap We can't have nice things listed in London can we I'd rather ride it out as well but if they give us a 30% premium I may reinvest it into $PSN.L (or another) and be ok"  
[X Link](https://x.com/HugoManenti/status/1782815219087012075)  2024-04-23T16:54Z [----] followers, [---] engagements


"@BeenThereCap And there was nothing wrong with $BLDR in the first place Thankfully they are great capital allocators - bought back almost no shares in Q1 and will be gobbling them now"  
[X Link](https://x.com/HugoManenti/status/1787971172673487080)  2024-05-07T22:22Z [----] followers, [---] engagements


"My counter would be that $LEN is guiding to 87k deliveries in FY25 vs. 80k in FY24 and $DHI to 91k deliveries in FY25 vs 90k in FY24. Taking a margin cut but still growing volumes. Smaller builders may be more cautious but they may also be less exposed to areas with over-inventory I think it's too early to bet on lower starts and completions next year https://twitter.com/i/web/status/1870042493154406661 https://twitter.com/i/web/status/1870042493154406661"  
[X Link](https://x.com/HugoManenti/status/1870042493154406661)  2024-12-20T09:44Z [----] followers, [--] engagements


"Sending $CNXC back down to 4x earnings just as the business reaccelerates (implied Q4 guide 3% CC growth) seems unwise"  
[X Link](https://x.com/HugoManenti/status/1938583340640071889)  2025-06-27T13:01Z [----] followers, [---] engagements


"@TeddyGambino @rakoraja Going with the worst balance sheet haha More torque"  
[X Link](https://x.com/HugoManenti/status/1950538775089885489)  2025-07-30T12:47Z [----] followers, [---] engagements


"@Aureliusltd28 You want boring I raise you $EEFT"  
[X Link](https://x.com/HugoManenti/status/1950978267692814492)  2025-07-31T17:54Z [----] followers, [---] engagements


"Was actually funny seeing $CNXC tank on $TEP earnings - when the latter were indeed disappointing but only because of the non CX part of the business. CX accelerated to 3.5% growth in Q2. No humans left at the wheel I guess 🤷♂ @AggieCapitalist Anything CX related trades like AI will wipe it out next year. e.g. $CNXC at 4x EPS despite reaccelerating topline. $FIVN looks really interesting here. @AggieCapitalist Anything CX related trades like AI will wipe it out next year. e.g. $CNXC at 4x EPS despite reaccelerating topline. $FIVN looks really interesting here"  
[X Link](https://x.com/HugoManenti/status/1951020079866384689)  2025-07-31T20:40Z [----] followers, [----] engagements


"$CNXC getting super silly now. off 25% when the only news is its peer seeing accelerating sales. What gives Back to 4x EPS with reaccelerating sales. scratching my head"  
[X Link](https://x.com/HugoManenti/status/1951313137292157056)  2025-08-01T16:04Z [----] followers, [---] engagements


"If that really happens you really want to own equipment rental companies e.g. $HRI with a lot of torque. And electrical equipment e.g. $WCC. And many other names. It's a contrast with the weakness appearing in many sectors of the economy but supports the idea that the shift from consumption to investment / manufacturing is happening"  
[X Link](https://x.com/HugoManenti/status/1954485780656558377)  2025-08-10T10:11Z [----] followers, [--] engagements


"Tracking to the higher end of the guide - raised just a month ago crickets. $CNXC Was actually funny seeing $CNXC tank on $TEP earnings - when the latter were indeed disappointing but only because of the non CX part of the business. CX accelerated to 3.5% growth in Q2. No humans left at the wheel I guess 🤷♂ Was actually funny seeing $CNXC tank on $TEP earnings - when the latter were indeed disappointing but only because of the non CX part of the business. CX accelerated to 3.5% growth in Q2. No humans left at the wheel I guess 🤷♂"  
[X Link](https://x.com/HugoManenti/status/1955354036997329027)  2025-08-12T19:41Z [----] followers, [---] engagements


"$IWG noisy year but my FY26+ estimates are going higher. All KPIs trending positively excellent capital allocation. Not sure what's driving the stock price reaction today but I'm a buyer"  
[X Link](https://x.com/HugoManenti/status/1957722093996630288)  2025-08-19T08:31Z [----] followers, [----] engagements


"@Big_Orrin I know I used to own Encore Wire (bought out by Prysmian which is obviously doing fantastic). if someone can rationalise why copper miners and customers are getting shafted while refiners are propped up let me know"  
[X Link](https://x.com/HugoManenti/status/1957877213933535403)  2025-08-19T18:47Z [----] followers, [--] engagements


"Kind of fascinating to see Paul Scott advancing the "bear case" for $IWG with a view that is as confident as it is uninformed. "doesn't make any money" = how about $140 million of FCF to equity this year "unviable with higher interest rates" / finance costs have almost doubled = ever head of IFRS16 lease accounting diabolical balance sheet = in what world is low / negative working capital a bad thing Are supermarket balance sheets diabolical too And of course concluding with the cheap and ignorant WeWork reference. Not even realising that a competitor operating at negative gross margins might"  
[X Link](https://x.com/HugoManenti/status/1958474739992645874)  2025-08-21T10:22Z [----] followers, [----] engagements


"Yeah I'm an optimist. Fair point on RevPar. The pipeline calculation change was only discussed briefly in the Q&A. Unfortunately the US listing seems further down the priority list. My take is they probably do $535MM this year. Plus $35MM of additional management fee. Plus around $10MM of non recurring costs (ERP transition US GAAP transition etc.). Worka probably adds an extra $5M if their positive commentary is worth anything. That's $585MM. Owned will benefit from further cost efficiencies promotional prices rolling off with still higher occupancy. I think they get to $600M but I withdraw"  
[X Link](https://x.com/HugoManenti/status/1958552568742715630)  2025-08-21T15:31Z [----] followers, [---] engagements


"@AggieCapitalist If call centers were a zero then surely $CNXC and $TEP would show negative growth by now Sure proves your point about short attention spans and absence of nuance"  
[X Link](https://x.com/HugoManenti/status/1963641232288096703)  2025-09-04T16:32Z [----] followers, [---] engagements


"Given that you dont raise capital to then do buybacks / dividends the option value I can think of is M&A which makes it even worse to me 😅 If it helps tighten the spreads on upcoming refis its already something. But this goes so against the previously communicated equity story that it wont fly with shareholders imho. Hopefully not as bad as ACDC though"  
[X Link](https://x.com/HugoManenti/status/1970952854660608456)  2025-09-24T20:45Z [----] followers, [---] engagements


"@Rory_Johnston They do but they might have concluded that taking share and hurting competitors first is the way to get a stronger market down the line"  
[X Link](https://x.com/HugoManenti/status/1979995995225071807)  2025-10-19T19:40Z [----] followers, [---] engagements


"@EconstratPB Is that why they bought pesos Beef-collateralised swap lines. Nice. Maybe get some Malbec as well"  
[X Link](https://x.com/HugoManenti/status/1980268429245300828)  2025-10-20T13:42Z [----] followers, [---] engagements


"@darioperkins If he really thinks reducing the size of the balance sheet = money in peoples pockets then I may try to sell him a bridge"  
[X Link](https://x.com/HugoManenti/status/1982895341096862113)  2025-10-27T19:41Z [----] followers, [---] engagements


"@Big_Orrin Inflation adjusted Have they tried dividing it by the Feds balance sheet Theres plenty of oil to extract at $100 cost so even if it went there its unlikely it would last long"  
[X Link](https://x.com/HugoManenti/status/1983803433573359730)  2025-10-30T07:49Z [----] followers, [--] engagements


"$TEP smashes expectations for the CX business (up almost 5%) Chris Caldwell is buying and yet $CNXC just keeps leaking lower day after day. Soon at 3x PE. Insanity"  
[X Link](https://x.com/HugoManenti/status/1986445125384331678)  2025-11-06T14:46Z [----] followers, [----] engagements


"@Uzocapital $XPOF is another one of those stocks for which there is seemingly no price too low. Under 6x '26 earnings"  
[X Link](https://x.com/HugoManenti/status/1986818006303879240)  2025-11-07T15:28Z [----] followers, [---] engagements


"FCF is growing albeit slowly and the cyclicality is moderate - more or less tracking GDP. Very long-term customer relationships. FCF yield is 30% but most of that will go to paying down debt over the next couple of years. Buyback yield 7-8% and dividend yield 3-4%. It is however perceived to be on death row because of AI. I name Concentrix. Has not been fun. I am grateful to have IWG to make up for it"  
[X Link](https://x.com/HugoManenti/status/1986950460121526535)  2025-11-08T00:14Z [----] followers, [--] engagements


"@AjaxHamiltonian @EconstratPB Fair. I'd expect the people taking them to be overall less able to prepay but inflation might help. Still looks a lot like an interest-only mortgage to me"  
[X Link](https://x.com/HugoManenti/status/1987288919608791238)  2025-11-08T22:39Z [----] followers, 13.6K engagements


"@jaynemesis Agreed. People often forget the investment required in electricity grids to prevent the kind of things that happened in Spain. I dont think many investors have it on their radar"  
[X Link](https://x.com/HugoManenti/status/1987503117466816528)  2025-11-09T12:50Z [----] followers, [--] engagements


"@EconstratPB And those heroic assumptions wrt price growth Dude. Those new houses wont even last [--] years"  
[X Link](https://x.com/HugoManenti/status/1987529961457021141)  2025-11-09T14:37Z [----] followers, [----] engagements


"@EconstratPB I mean eventually the Fed will have to engineer it or face collapse. Buy gold when it hits targets I guess"  
[X Link](https://x.com/HugoManenti/status/1987530971076259866)  2025-11-09T14:41Z [----] followers, [--] engagements


"@CasinoCapital @OBR_UK @George_Osborne Productivity downgrade = raise taxes = kill investment and productivity. Quite the doom loop. Even more infuriating when one knows how poor data quality is"  
[X Link](https://x.com/HugoManenti/status/1987653318143807527)  2025-11-09T22:47Z [----] followers, [--] engagements


"@blondesnmoney How do you dare dunking on one of my top [--] holdings Cluseau Bond guys are right. It's all about capex. CRWV has an endless amount of capex ahead while RIG has zero growth capex and a crap but improving balance sheet"  
[X Link](https://x.com/HugoManenti/status/1989017286150373871)  2025-11-13T17:07Z [----] followers, [---] engagements


"@blondesnmoney Haha look at this beauty though Granted some of it at the expense of shareholders (capital raises) but still pretty impressive"  
[X Link](https://x.com/HugoManenti/status/1989020715807584285)  2025-11-13T17:21Z [----] followers, [--] engagements


"@blondesnmoney CRWV has the benefit of NVDA's backstop though so maybe bond guys should be more optimistic than equity investors"  
[X Link](https://x.com/HugoManenti/status/1989020976986878013)  2025-11-13T17:22Z [----] followers, [--] engagements


"We are correcting because the Fed is increasingly hawkish in the context of a softening economy. Little to do with AI or the shutdown. Sectors hit hardest are the ones that are most dependent on liquidity i.e. no-revenue / bad balance sheet small caps. Which are the ones that skyrocketed after Jackson Hole"  
[X Link](https://x.com/HugoManenti/status/1989042067847409717)  2025-11-13T18:45Z [----] followers, [---] engagements


"@LongOnlyLarry @RealPeterTeal $CNXC is at 2.6x FY26 EPS so yes they absolutely do. And sequential improvements in growth don't matter"  
[X Link](https://x.com/HugoManenti/status/1991159119542096043)  2025-11-19T14:58Z [----] followers, [---] engagements


"Didn't think I would live to see Citron pump one of my stocks. but here we are and the case is as clear as day. I would also mention the nuclear contract wins in the UK the golden dome opportunity etc. Many ways to win at only 10x earnings. $AMTM $AMTM - The Nuclear Monopoly at the Center of Trump's Nuclear Energy Dominance Trump just made AMTM the most important company in America that nobody's heard of.$55 UNDERSTAND WHAT THEY CONTROL: Amentum manages 90% of America's nuclear infrastructure for the DOE. Not $AMTM - The Nuclear Monopoly at the Center of Trump's Nuclear Energy Dominance Trump"  
[X Link](https://x.com/HugoManenti/status/1991192234738274411)  2025-11-19T17:09Z [----] followers, [---] engagements


"Right there is the key to understanding the current malaise - not inflation per se but rather wage growth no longer exceeding it. Especially at the bottom. Real wage growth is not part of the Fed mandate and the Trump admin is surprisingly silent on wages only communicating on inflation. Policymakers urgently need to accept that we are in a structurally different inflation regime and relieve pressure on the "real economy" NFP September was a big beat +119K (will be revised down just like July / August) Unemployment rate up to 4.4% But I noticed wage growth is now down to only +2.38% YoY"  
[X Link](https://x.com/HugoManenti/status/1991503722430578802)  2025-11-20T13:47Z [----] followers, [---] engagements


"@Big_Orrin @degiorgiod Its getting expensive in Bitcoin though"  
[X Link](https://x.com/HugoManenti/status/1992548593433985107)  2025-11-23T10:59Z [----] followers, [--] engagements


"@blondesnmoney Nice. I may stick with ONIT a little longer. The reverse mortgage business sale looks like a step towards buybacks or - maybe more likely - an outright sale. Not expecting to get to TBV but I think we can get a little closer still. Many other opportunities though"  
[X Link](https://x.com/HugoManenti/status/1993000449029591062)  2025-11-24T16:55Z [----] followers, [---] engagements


"@Retail_Guru Any evidence that this is (or not) mostly the middle-class consumer starting to trade down"  
[X Link](https://x.com/HugoManenti/status/1993309877293531282)  2025-11-25T13:24Z [----] followers, [--] engagements


"Opportune time to expand on my rationale for holding $AMTM as a large position. I started buying in April average cost $22. Amentum is a government subcontractor with its fingers in all the best pies: nuclear space drones missiles cyber and top secret programs. The thesis was simple: - Its end markets criticality and already small margins insulates the company from DOGE type efforts and should result in steady backlog growth - Expect sustained MSD topline growth a little margin expansion debt paydown resulting in steady LDD EPS growth - This should cause it to trade much closer to the average"  
[X Link](https://x.com/anyuser/status/1993314420521312608)  2025-11-25T13:42Z [----] followers, [----] engagements


"@mark_dow Buy as long as above MAs (and those move higher)"  
[X Link](https://x.com/HugoManenti/status/1993745347433386236)  2025-11-26T18:15Z [----] followers, [---] engagements


"Imho 2% inflation isn't happening outside of a recession which Trump will do everything in his power to avoid. His big problem is that he won't be able stack the FOMC with sycophants before the end of his term. So instead he needs a Chair that looks credible and not too compromised in order to get a majority of the FOMC to fall in line. Hassett is not that person. I honestly thought it'd be Rieder seemed the best fit to me"  
[X Link](https://x.com/HugoManenti/status/1995855281260007434)  2025-12-02T13:59Z [----] followers, [---] engagements


"@taobanker Getting too cheap to ignore. Very underfollowed. Or maybe everyone waiting for a tap of the 200DMA"  
[X Link](https://x.com/HugoManenti/status/1996629743815610519)  2025-12-04T17:16Z [----] followers, [--] engagements


"@mark_dow It's had every opportunity and "reason" to break down and yet it hasn't. I might eat those words later but it's notable to me. Also oil equities have been running ahead - especially services"  
[X Link](https://x.com/HugoManenti/status/1996630630663413964)  2025-12-04T17:20Z [----] followers, [---] engagements


"@Globalflows The wider trade imbalances grow the more cross-border capital flows are required to balance the system. March - April gave us a taste of what happens when it all reverses: dollar down bonds down equities down"  
[X Link](https://x.com/HugoManenti/status/1996889414145036300)  2025-12-05T10:28Z [----] followers, [--] engagements


"@Uzocapital $IWG.L pretty nice update yesterday. If they can maintain a run-rate of [----] openings per year then $1BN EBITDA becomes plausible by 2031-32. $250mm recurring management fee at 20x and $350mm "other" FCF at 10x and that's about a 3x return from here"  
[X Link](https://x.com/HugoManenti/status/1996979236314173528)  2025-12-05T16:25Z [----] followers, [---] engagements


"Theyre already there in Q3 but I doubt they can keep the pace all the way to [----] needs the macro to cooperate + can the market absorb 1000+ centers p.a. with no hit to the RevPar curve I prefer to be more conservative but even at $800mm or $900mm EBITDA the stock is a bargain https://twitter.com/i/web/status/1997005075802169400 https://twitter.com/i/web/status/1997005075802169400"  
[X Link](https://x.com/HugoManenti/status/1997005075802169400)  2025-12-05T18:08Z [----] followers, [---] engagements


"@TeddyGambino I thought it was pricey at first but the whole thing actually looks very very accretive for $AR"  
[X Link](https://x.com/HugoManenti/status/1998012198832996712)  2025-12-08T12:50Z [----] followers, [---] engagements


"@TXMCtrades Exit liquidity draped in philanthropy"  
[X Link](https://x.com/HugoManenti/status/2001658147593679229)  2025-12-18T14:17Z [----] followers, [---] engagements


"@VKMacro Yes. Simplest way to explain jump in consumption despite stagnant wages"  
[X Link](https://x.com/HugoManenti/status/2003591216814789098)  2025-12-23T22:19Z [----] followers, [---] engagements


"He's unfortunately very emboldened now that he feels he's succeeding. And that checks and balances are non existent. I'd also expect zero willingness from Europeans to have a shooting contest with the US over what they see as a block of ice with a few igloos. Hopefully this is just a threat to get something else in return. I wouldn't bet on it though. https://twitter.com/i/web/status/2008116441233367138 https://twitter.com/i/web/status/2008116441233367138"  
[X Link](https://x.com/HugoManenti/status/2008116441233367138)  2026-01-05T10:00Z [----] followers, [---] engagements


"$POWL is the ticker. Sorry I don't make the rules. Video message from Federal Reserve Chair Jerome H. Powell: https://t.co/5dfrkByGyX https://t.co/O4ecNaYaGH Video message from Federal Reserve Chair Jerome H. Powell: https://t.co/5dfrkByGyX https://t.co/O4ecNaYaGH"  
[X Link](https://x.com/anyuser/status/2010744282840174702)  2026-01-12T16:02Z [----] followers, [---] engagements


"Say what you want about the LSE but a company down 9% just ahead of earnings would get a call from the regulator and be compelled to release earnings immediately. $CNXC @Concentrix"  
[X Link](https://x.com/anyuser/status/2010798660536451319)  2026-01-12T19:38Z [----] followers, [---] engagements


"$CNXC solid results although guidance a little light. Very bullish commentary though - expectation for continued sequential growth acceleration and margin improvement. Faster growth higher quality and stickier revenue margins about to inflect higher. Yet still valued as if terminal value was zero. https://twitter.com/i/web/status/2011079803336540523 https://twitter.com/i/web/status/2011079803336540523"  
[X Link](https://x.com/anyuser/status/2011079803336540523)  2026-01-13T14:16Z [----] followers, [---] engagements


"@dig_list @Concentrix Let's see how the day ends :) Not a big technicals guy but I'd love to see a nice bullish hammer"  
[X Link](https://x.com/HugoManenti/status/2011093450930721056)  2026-01-13T15:10Z [----] followers, [--] engagements


"@CasinoCapital @John_Stepek Italy / Greece / Cyprus can offer pretty decent setups depending on your type of income ;)"  
[X Link](https://x.com/HugoManenti/status/2011193243732488678)  2026-01-13T21:46Z [----] followers, [--] engagements


"@HungStriker Bonds look more interesting imho - trade at 10cts on the $ but sit ahead of equity in the capital stack. Worst case in a restructuring = converted into equity"  
[X Link](https://x.com/HugoManenti/status/2011401219680731160)  2026-01-14T11:33Z [----] followers, [---] engagements


"@harrydunn88 Largest weights are almost all AI exposed + under the hood beaten down cyclical sectors are waking up after three years of coma. More to go imo"  
[X Link](https://x.com/HugoManenti/status/2011962340162367694)  2026-01-16T00:42Z [----] followers, [--] engagements


"Super interesting. $CNXC have been saying that the vast majority of CX AI pilots fail and actually launched a business to solve that. Some of the more specialised BPOs (still valued for death) might very well flip the script and win as AI integrators / managed services providers. Massive narrative violation https://ir.concentrix.com/news/news-details/2025/Concentrix-Launches-Agentic-Operating-Framework-to-Help-Enterprises-Solve-Key-Issues-Behind-Failed-AI-Deployments-09-18-2025/default.aspx"  
[X Link](https://x.com/HugoManenti/status/2012291401623502955)  2026-01-16T22:30Z [----] followers, [----] engagements


"Well $TEP.PA is up on the week so I guess AI is just a US thing $CNXC can raise a $600m bond at 6.5% but equity investors think it's a donut (2.5x EPS). interesting $CNXC can raise a $600m bond at 6.5% but equity investors think it's a donut (2.5x EPS). interesting"  
[X Link](https://x.com/anyuser/status/2022314868511015105)  2026-02-13T14:20Z [----] followers, [---] engagements


"@taobanker @JayApted [--] consecutive years of comp growth and they get valued at a $TGT multiple Feels way too harsh"  
[X Link](https://x.com/HugoManenti/status/1997102214624514209)  2025-12-06T00:34Z [----] followers, [---] engagements


"@irbezek Copa and Latam Airlines. Gonna take a lot of flights to repatriate expats move diplomats oil execs tourists family visits etc"  
[X Link](https://x.com/HugoManenti/status/2007760681870012442)  2026-01-04T10:27Z [----] followers, [----] engagements


"$VTY $VTY.L [----] in line although would have been a beat if not for the messy November budget. [----] guide includes 7% increase in completions lower construction costs end of legacy "Southern Division" costs return to positive cash. They righted the ship improved the cost structure invested in land counter-cyclically. just in time for market re-acceleration. They admitted to guiding very cautiously. Today's reaction is - again - a headscratcher. https://twitter.com/i/web/status/2011486416048451666 https://twitter.com/i/web/status/2011486416048451666"  
[X Link](https://x.com/anyuser/status/2011486416048451666)  2026-01-14T17:11Z [----] followers, [---] engagements


"@kab604 Been in it for [--] months priced for death while growing at 3%. go figure. I guess complexity is too hard for this market to handle. Wrote a short note recently if interested https://hugomanenti.substack.com/p/concentrix-cnxc-deep-dive-ai-roadkill https://hugomanenti.substack.com/p/concentrix-cnxc-deep-dive-ai-roadkill"  
[X Link](https://x.com/HugoManenti/status/2016590216237039635)  2026-01-28T19:12Z [----] followers, [---] engagements


"Well thankfully I started small and scaled in otherwise I'd be wiped out 😅 FCF has been messy with integration costs repayment of off-balance sheet liabilities and higher (growth) capex. Even then I expected better too - clearly repeated margins misses aren't helping. I think FY26 guidance is sandbagged though. I like $TEP's balance sheet and FCF better. However France has restrictions on buybacks and a high tax on dividends so it works less well for me. Let's see what they do now with their FCF. TEP's CX has also grown slightly faster largely due to mix. but I underweighted it due to the"  
[X Link](https://x.com/HugoManenti/status/2016599199211544896)  2026-01-28T19:48Z [----] followers, [---] engagements


"Yep agreed. In [--] months time youre likely back to 4-5x as you pay down $800mm of debt and FCF benefits from lower interest rates lower debt and - hopefully - a rebound in margins. TEP is already there and has optionality but management has been so evasive that it has raised questions marks for me. On the other hand CNXCs dividend raise really rubbed me the wrong way. https://twitter.com/i/web/status/2016606579320140274 https://twitter.com/i/web/status/2016606579320140274"  
[X Link](https://x.com/HugoManenti/status/2016606579320140274)  2026-01-28T20:17Z [----] followers, [---] engagements


"At the end of the day I feel that CNXC is a simpler business with clearer strategy and capital allocation policy. Less likely to surprise. TEP has potentially higher torque if FCF is used smartly and / or specialised services stabilises. No balance sheet constraints. But imo higher risk they mess it up https://twitter.com/i/web/status/2016607403249455398 https://twitter.com/i/web/status/2016607403249455398"  
[X Link](https://x.com/HugoManenti/status/2016607403249455398)  2026-01-28T20:20Z [----] followers, [--] engagements


"French corporate law Once you hold 10% of outstanding shares in treasury you need to cancel them before you can buy any more (requires an EGM usually held in conjunction with the AGM). Issue is you can only cancel those 10% once every [--] months so in practice you are capped at 5% on average on an ongoing basis That and the 8% tax is the reason why $CRTO (which is equally cheap) is moving HQs and listing to the US via Lux https://twitter.com/i/web/status/2016648525837455872 https://twitter.com/i/web/status/2016648525837455872"  
[X Link](https://x.com/HugoManenti/status/2016648525837455872)  2026-01-28T23:04Z [----] followers, [--] engagements


"@dalibali2 Are you talking about $CRTO"  
[X Link](https://x.com/HugoManenti/status/2016651759230267530)  2026-01-28T23:17Z [----] followers, [----] engagements


"Agreed it's the slow death of the tech GARP investor. Software fintech adtech. yikes. Criteo is interesting indeed. Google not phasing out third party cookies Doordash partnership US relocation to accelerate buybacks. no amount of good news can save the stock. 5x earnings. https://twitter.com/i/web/status/2016676561152594202 https://twitter.com/i/web/status/2016676561152594202"  
[X Link](https://x.com/HugoManenti/status/2016676561152594202)  2026-01-29T00:55Z [----] followers, [---] engagements


"Grateful to @agnostoxxx for pumping my $AMTM bags. Today I shall give thanks. I have many more boomer stocks in store. For instance - a coworking space operator that doesn't elevate the world's consciousness but prints $ (writeup incoming). Opportune time to expand on my rationale for holding $AMTM as a large position. I started buying in April average cost $22. Amentum is a government subcontractor with its fingers in all the best pies: nuclear space drones missiles cyber and top secret programs. The Opportune time to expand on my rationale for holding $AMTM as a large position. I started"  
[X Link](https://x.com/anyuser/status/2016874666002960748)  2026-01-29T14:02Z [----] followers, [---] engagements


"@CasinoCapital You guys dont have Taxdown or equivalent Cost me [--] and did the job. Alternatively vibe code"  
[X Link](https://x.com/HugoManenti/status/2017672037825687701)  2026-01-31T18:51Z [----] followers, [---] engagements


"No crying in the casino until all your SaaS fintech adtech consulting data stocks to trade at 4x FCF just like $CNXC. Sorry"  
[X Link](https://x.com/anyuser/status/2018709556914717176)  2026-02-03T15:33Z [----] followers, [---] engagements


"@AggieCapitalist What's the narrative there Ai killing SaaS ok maybe somewhat. But payments like $FLYW or $FOUR especially niche & vertically integrated. I don't quite get it. Then $FIVN is approaching $CNXC valuation. Hmmm"  
[X Link](https://x.com/HugoManenti/status/2018731654810828874)  2026-02-03T17:01Z [----] followers, [---] engagements


"@dalibali2 Can you get agents to set up accounts Then it's a 10x"  
[X Link](https://x.com/HugoManenti/status/2018743984156250531)  2026-02-03T17:50Z [----] followers, [---] engagements


"@AggieCapitalist Agreed. I was racking my brains and couldn't really produce a coherent bear pitch on $FLYW. It's the most demoralising - not even a strawman to fight. Patience"  
[X Link](https://x.com/HugoManenti/status/2018744786916942210)  2026-02-03T17:53Z [----] followers, [---] engagements


"@conorsen Yup. Unless it got to your stuff before it even touched SaaS / fintech etc. 😬"  
[X Link](https://x.com/HugoManenti/status/2018811519535108585)  2026-02-03T22:19Z [----] followers, [---] engagements


"@dalibali2 CRTO - 2x EBITDA"  
[X Link](https://x.com/HugoManenti/status/2021716056377897162)  2026-02-11T22:40Z [----] followers, [----] engagements


"Office companies dumped on the day the labour market finally shows signs of turning around. can't make it up. $CBRE $JLL $CWK $IWG"  
[X Link](https://x.com/anyuser/status/2021945985644286448)  2026-02-12T13:54Z [----] followers, [---] engagements


"BPO IT/data SaaS insurance brokers CRE services freight brokers. who next Is that the freakout climax or the start of a bear for all asst-light businesses"  
[X Link](https://x.com/anyuser/status/2021982495311593521)  2026-02-12T16:19Z [----] followers, [---] engagements


"@Aureliusltd28 Too many "quality" stocks with terminal values implying either MSD WACC or 10%+ growth forever. That said was CNXC at 3x EPS expensive I guess there's a bit of both"  
[X Link](https://x.com/HugoManenti/status/2022252147228778719)  2026-02-13T10:10Z [----] followers, [--] engagements


"@buccocapital No no Bucco only office REITs are to suffer Other than that AI agents will take flights buy Crocs and eat Chipotle - nothing to see here"  
[X Link](https://x.com/HugoManenti/status/2022412570242793663)  2026-02-13T20:48Z [----] followers, [----] engagements


"Well $TEP.PA is up on the week so I guess AI is just a US thing $CNXC can raise a $600m bond at 6.5% but equity investors think it's a donut (2.5x EPS). interesting $CNXC can raise a $600m bond at 6.5% but equity investors think it's a donut (2.5x EPS). interesting"  
[X Link](https://x.com/anyuser/status/2022314868511015105)  2026-02-13T14:20Z [----] followers, [---] engagements


"$CNXC can raise a $600m bond at 6.5% but equity investors think it's a donut (2.5x EPS). interesting"  
[X Link](https://x.com/anyuser/status/2022256157436309563)  2026-02-13T10:26Z [----] followers, [----] engagements


"BPO IT/data SaaS insurance brokers CRE services freight brokers. who next Is that the freakout climax or the start of a bear for all asst-light businesses"  
[X Link](https://x.com/anyuser/status/2021982495311593521)  2026-02-12T16:19Z [----] followers, [---] engagements


"Office companies dumped on the day the labour market finally shows signs of turning around. can't make it up. $CBRE $JLL $CWK $IWG"  
[X Link](https://x.com/anyuser/status/2021945985644286448)  2026-02-12T13:54Z [----] followers, [---] engagements


"Gave thanks. still got hit Added back today on the drop. Backlog was never a question to me but margins were. This quarter we saw tangible progress and the guidance is for more. Importantly - margins embedded within the backlog are growing which will further support the bottom line over the medium term. Business is aplenty and $AMTM has the luxury of choice. My estimates are going higher and 15x should be a floor multiple for that type of business. Have to respect the market but the path to $45 seems ever clearer to me Grateful to @agnostoxxx for pumping my $AMTM bags. Today I shall give"  
[X Link](https://x.com/anyuser/status/2021259489966493701)  2026-02-10T16:26Z [----] followers, [---] engagements


"Grateful to @agnostoxxx for pumping my $AMTM bags. Today I shall give thanks. I have many more boomer stocks in store. For instance - a coworking space operator that doesn't elevate the world's consciousness but prints $ (writeup incoming). Opportune time to expand on my rationale for holding $AMTM as a large position. I started buying in April average cost $22. Amentum is a government subcontractor with its fingers in all the best pies: nuclear space drones missiles cyber and top secret programs. The Opportune time to expand on my rationale for holding $AMTM as a large position. I started"  
[X Link](https://x.com/anyuser/status/2016874666002960748)  2026-01-29T14:02Z [----] followers, [---] engagements


"No crying in the casino until all your SaaS fintech adtech consulting data stocks to trade at 4x FCF just like $CNXC. Sorry"  
[X Link](https://x.com/anyuser/status/2018709556914717176)  2026-02-03T15:33Z [----] followers, [---] engagements


"Opportune time to expand on my rationale for holding $AMTM as a large position. I started buying in April average cost $22. Amentum is a government subcontractor with its fingers in all the best pies: nuclear space drones missiles cyber and top secret programs. The thesis was simple: - Its end markets criticality and already small margins insulates the company from DOGE type efforts and should result in steady backlog growth - Expect sustained MSD topline growth a little margin expansion debt paydown resulting in steady LDD EPS growth - This should cause it to trade much closer to the average"  
[X Link](https://x.com/anyuser/status/1993314420521312608)  2025-11-25T13:42Z [----] followers, [----] engagements


"Remember when our biggest worry was keeping the President awake Sigh. Let them drink diet soda. https://t.co/Rs7QF3Rg3o Let them drink diet soda. https://t.co/Rs7QF3Rg3o"  
[X Link](https://x.com/anyuser/status/2013544556592083012)  2026-01-20T09:30Z [----] followers, [---] engagements


"Let them drink diet soda"  
[X Link](https://x.com/anyuser/status/2013534381080789351)  2026-01-20T08:49Z 23.9K followers, [----] engagements


"Supreme Court is going to love that TRUMP: FLOATS TARIFF IF COUNTRIES 'DON'T GO ALONG' ON GREENLAND TRUMP: FLOATS TARIFF IF COUNTRIES 'DON'T GO ALONG' ON GREENLAND"  
[X Link](https://x.com/anyuser/status/2012212015637413973)  2026-01-16T17:15Z [----] followers, [---] engagements


"TRUMP: FLOATS TARIFF IF COUNTRIES 'DON'T GO ALONG' ON GREENLAND"  
[X Link](https://x.com/anyuser/status/2012193264795844869)  2026-01-16T16:00Z 436.7K followers, [----] engagements


"$VTY $VTY.L [----] in line although would have been a beat if not for the messy November budget. [----] guide includes 7% increase in completions lower construction costs end of legacy "Southern Division" costs return to positive cash. They righted the ship improved the cost structure invested in land counter-cyclically. just in time for market re-acceleration. They admitted to guiding very cautiously. Today's reaction is - again - a headscratcher. https://twitter.com/i/web/status/2011486416048451666 https://twitter.com/i/web/status/2011486416048451666"  
[X Link](https://x.com/anyuser/status/2011486416048451666)  2026-01-14T17:11Z [----] followers, [---] engagements


"$CNXC solid results although guidance a little light. Very bullish commentary though - expectation for continued sequential growth acceleration and margin improvement. Faster growth higher quality and stickier revenue margins about to inflect higher. Yet still valued as if terminal value was zero. https://twitter.com/i/web/status/2011079803336540523 https://twitter.com/i/web/status/2011079803336540523"  
[X Link](https://x.com/anyuser/status/2011079803336540523)  2026-01-13T14:16Z [----] followers, [---] engagements


"Stock -11% pre market after -8% yesterday essentially trading at 3x EPS as per the - sandbagged - guide. At current share price dividend yield is 4% and buyback yield 7%"  
[X Link](https://x.com/anyuser/status/2011080528439701691)  2026-01-13T14:18Z [----] followers, [---] engagements


"Does that look like a dying business to you "A few data points: a 6% increase in the annual contract value of deals in the pipeline as we exited this year a 9% increase in new wins year-on-year a 14% increase in transformational deal values this year a 23% increase in cross-sell upsell deals this year and a 37% increase in values for our new service areas this year" $CNXC"  
[X Link](https://x.com/anyuser/status/2011089219922391551)  2026-01-13T14:53Z [----] followers, [---] engagements


"Say what you want about the LSE but a company down 9% just ahead of earnings would get a call from the regulator and be compelled to release earnings immediately. $CNXC @Concentrix"  
[X Link](https://x.com/anyuser/status/2010798660536451319)  2026-01-12T19:38Z [----] followers, [---] engagements


"$POWL is the ticker. Sorry I don't make the rules. Video message from Federal Reserve Chair Jerome H. Powell: https://t.co/5dfrkByGyX https://t.co/O4ecNaYaGH Video message from Federal Reserve Chair Jerome H. Powell: https://t.co/5dfrkByGyX https://t.co/O4ecNaYaGH"  
[X Link](https://x.com/anyuser/status/2010744282840174702)  2026-01-12T16:02Z [----] followers, [---] engagements


"Video message from Federal Reserve Chair Jerome H. Powell: https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm"  
[X Link](https://x.com/anyuser/status/2010510130970849338)  2026-01-12T00:32Z 1.4M followers, 89.7M engagements


"I thought that'd amuse @agnostoxxx"  
[X Link](https://x.com/anyuser/status/2010749631999668325)  2026-01-12T16:24Z [----] followers, [--] engagements


"Trump: My own morality is only restraint on global power If you thought 2020-25 was wild. it was just an appetiser for 2026-30. Checks and balances are mostly gone and gloves are off"  
[X Link](https://x.com/anyuser/status/2009605056874811586)  2026-01-09T12:35Z [----] followers, [---] engagements


"$CPA would be a real immediate winner from any normalisation in VZ. And - forgive the pun - completely flying under the radar. Since no one is talking how Copa Airlines/Holdings $CPA is a massive winner after Venezuela I will: 6.5x P/E the most profitable airline in the world unique Hub-Spoke model around Panama City Airport running only Boeing 737s about to add back to most profitable Venz routes. https://t.co/sdgkHrCNlI Since no one is talking how Copa Airlines/Holdings $CPA is a massive winner after Venezuela I will: 6.5x P/E the most profitable airline in the world unique Hub-Spoke model"  
[X Link](https://x.com/anyuser/status/2008535516489429084)  2026-01-06T13:45Z [----] followers, [---] engagements


"Since no one is talking how Copa Airlines/Holdings $CPA is a massive winner after Venezuela I will: 6.5x P/E the most profitable airline in the world unique Hub-Spoke model around Panama City Airport running only Boeing 737s about to add back to most profitable Venz routes"  
[X Link](https://x.com/anyuser/status/2008187878845919384)  2026-01-05T14:44Z [----] followers, [----] engagements


"(2/2) Now that the year is wrapped-up I remain positive on the stock and maintain the price target: - FY25 and FY26 guidance in line with room for upside given consistent beat and raise quarters this year - Backlog continuing to grow (1.2x book to bill this year) particularly in sexy areas (golden dome nuclear) - Increasing attention on the back of @CitronResearch post last week - DOGE didnt have teeth and is now wrapped up. Instead we are seeing increased investment into the areas where AMTM operates It seems that the stock will open higher on the back of the FY26 guide and backlog growth"  
[X Link](https://x.com/anyuser/status/1993314915927347610)  2025-11-25T13:44Z [----] followers, [---] engagements

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