# ![@CorneliaLake Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1374044826652528641.png) @CorneliaLake Lake Cornelia Research Management

Lake Cornelia Research Management posts on X about $tdw, $rig, $val, $ne the most. They currently have [------] followers and [---] posts still getting attention that total [-----] engagements in the last [--] hours.

### Engagements: [-----] [#](/creator/twitter::1374044826652528641/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1374044826652528641/c:line/m:interactions.svg)

- [--] Week [----------] -41%
- [--] Month [----------] +5,068%
- [--] Months [----------] +6,387,649,100%
- [--] Year [----------] +446%

### Mentions: [--] [#](/creator/twitter::1374044826652528641/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1374044826652528641/c:line/m:posts_active.svg)

- [--] Week [--] -11%
- [--] Month [---] +7.90%
- [--] Months [---] +34,300%
- [--] Year [---] -73%

### Followers: [------] [#](/creator/twitter::1374044826652528641/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1374044826652528641/c:line/m:followers.svg)

- [--] Week [------] +0.06%
- [--] Month [------] +1.20%
- [--] Year [------] +2.50%

### CreatorRank: [-------] [#](/creator/twitter::1374044826652528641/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1374044826652528641/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[stocks](/list/stocks)  40.74% [finance](/list/finance)  33.33% [cryptocurrencies](/list/cryptocurrencies)  25.19% [technology brands](/list/technology-brands)  8.15% [financial services](/list/financial-services)  #2189 [countries](/list/countries)  3.7% [celebrities](/list/celebrities)  2.22% [exchanges](/list/exchanges)  0.74% [travel destinations](/list/travel-destinations)  0.74%

**Social topic influence**
[$tdw](/topic/$tdw) 17.78%, [$rig](/topic/$rig) 14.07%, [$val](/topic/$val) 13.33%, [$ne](/topic/$ne) 13.33%, [$sdrl](/topic/$sdrl) 12.59%, [$borr](/topic/$borr) 12.59%, [$do](/topic/$do) 9.63%, [in the](/topic/in-the) 8.15%, [we are](/topic/we-are) 5.93%, [lake](/topic/lake) #482

**Top accounts mentioned or mentioned by**
[@andrewrangeley](/creator/undefined) [@yetanothervalue](/creator/undefined) [@billackman](/creator/undefined) [@minotaurstocks](/creator/undefined) [@wolfpackreports](/creator/undefined) [@beatals44](/creator/undefined) [@lakecorneliap180064285](/creator/undefined) [@lakecorneliap186153534](/creator/undefined) [@grandtokamak](/creator/undefined) [@lakecorneliap182571265](/creator/undefined) [@caesarspalace](/creator/undefined) [@caesarssports](/creator/undefined) [@investornick](/creator/undefined) [@nsantini99](/creator/undefined) [@powerfleetaiot](/creator/undefined) [@hkuppy](/creator/undefined) [@bobrobotti](/creator/undefined) [@sxlongshadow](/creator/undefined) [@profsecchi](/creator/undefined) [@mrjayw](/creator/undefined)

**Top assets mentioned**
[Tidewater, Inc. (TDW)](/topic/$tdw) [Transocean LTD. (RIG)](/topic/$rig) [Validity (VAL)](/topic/$val) [Noble Corporation (NE)](/topic/$ne) [Seadrill Limited (SDRL)](/topic/$sdrl) [Borr Drilling Limited (BORR)](/topic/$borr) [Blue Owl Capital, Inc. (OWL)](/topic/$owl) [Microsoft Corp. (MSFT)](/topic/$msft) [SVB Financial Group (SIVBQ)](/topic/$sivb) [Oracle Corporation (ORCL)](/topic/$orcl) [Blackstone, Inc. (BX)](/topic/$bx) [Orion Protocol (ORN)](/topic/$orn) [Apollo Global Management, Inc. (APO)](/topic/$apo) [Ares Management, Corp. (ARES)](/topic/$ares) [TechnipFMC (FTI)](/topic/$fti) [Schlumberger NV (SLB)](/topic/$slb) [Halliburton Company (HAL)](/topic/$hal) [Nebius Group N.V. Class A Ordinary Shares (NBIS)](/topic/$nbis) [Sable Offshore Corp. (SOC)](/topic/$soc) [Born in [--] (19)](/topic/$19) [Compound (COMP)](/topic/$comp) [Zillow Group, Inc. (ZG)](/topic/$zg) [Metadium (META)](/topic/$meta) [Cheniere Energy, Inc. (LNG)](/topic/$lng) [Privia Health Group, Inc.  (PRVA)](/topic/$prva) [IonQ, Inc. (IONQ)](/topic/$ionq) [SkyWater Technology, Inc. (SKYT)](/topic/$skyt) [First Solar, Inc. (FSLR)](/topic/$fslr) [JPMorgan Chase (JPM)](/topic/$jpm) [PayPal Holdings Inc (PYPL)](/topic/$pypl) [KKR & Co, Inc. (KKR)](/topic/$kkr) [TPG Inc. (TPG)](/topic/$tpg) [Salesforce Inc (CRM)](/topic/$crm) [HUBSPOT, INC. (HUBS)](/topic/$hubs) [Now Coin (NOW)](/topic/$now) [Blue Owl Capital Corporation (OBDC)](/topic/$obdc) [OKZOO (AIOT)](/topic/$aiot) [Helium IOT (IOT)](/topic/$iot) [SPDR S&P [---] ETF Trust (SPY)](/topic/$spy) [PolkaBridge (PBR)](/topic/$pbr)
### Top Social Posts
Top posts by engagements in the last [--] hours

"Had a great chat with @AndrewRangeley @YetAnotherValue Hope everyone enjoys and looking forward to a great [----] $TOI $TE $ASTS $NBIS $WGS $SOC  Podcast #358 is up @CorneliaLake has a wide ranging conversation on everything from $TOI to inflection investing https://t.co/MDD9meaGOe Podcast #358 is up @CorneliaLake has a wide ranging conversation on everything from $TOI to inflection investing https://t.co/MDD9meaGOe"  
[X Link](https://x.com/CorneliaLake/status/2009265392565248204)  2026-01-08T14:06Z 28.8K followers, 21.4K engagements


"$PRCH Earnings AMC tomorrow. Stock has come off from $19 to $7.50. We get ready for the call. https://open.substack.com/pub/lakecornelia/p/porch-group-prch-from-spac-dust-tor=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/porch-group-prch-from-spac-dust-tor=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2021384672484134935)  2026-02-11T00:43Z 28.8K followers, [----] engagements


"$COMP $HOUS $ZG Our new [--] page note on the $COMP $HOUS merger is up: https://open.substack.com/pub/lakecornelia/p/compass-comp-hous-merger-a-surgingr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/compass-comp-hous-merger-a-surgingr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/1992989454076985785)  2025-11-24T16:11Z 28.8K followers, [----] engagements


"$COMP $HOUS $ZG $RKT We spoke with IR last week after our first note. Here is what we learned. https://lakecornelia.substack.com/p/comp-hous-merger-a-call-with-managementr=1niz6q https://lakecornelia.substack.com/p/comp-hous-merger-a-call-with-managementr=1niz6q"  
[X Link](https://x.com/CorneliaLake/status/1996036955411468329)  2025-12-03T02:01Z 28.8K followers, [----] engagements


"From our note on $META $ORCL We brought up the analog of $LNG. $ORCL would benefit from a Sherpa investment - $BX put $2 billion into $CQP and gave investors more comfort to fund the build out. All the bank equity deals from 2008/2009 had the same Sherpa setup where someone went over the wall and did a PIPE concurrent with a public raise. Cost or capital is a precious thing and once a funding scheme loses its currency things get ugly. From our note: A practical analogue for investors to consider is the story of Cheniere Energy. Needing tens of billions to construct massive LNG terminals the"  
[X Link](https://x.com/CorneliaLake/status/1998899436215263558)  2025-12-10T23:35Z 28.8K followers, [----] engagements


"$TOI $RDNT TOI got the CFO of $RDNT to join their BoD. Huge win and thesis affirming. Our long note on $TOI is 👇 - The Oncology Institute Announces Addition of Board Member Mark Stolper Jan [--] [----] CERRITOS Calif. Jan. [--] [----] (GLOBE NEWSWIRE) -- The Oncology Institute Inc. (TOI) (NASDAQ: TOI) one of the largest value-based oncology groups in the United States today announced that Mark Stolper has joined the Board of Directors effective January [--] [----]. Mr. Stolper brings significant public markets financial and operational leadership experience to The Oncology Institutes board. Mr. Stolper"  
[X Link](https://x.com/CorneliaLake/status/2008239545188307004)  2026-01-05T18:09Z 28.8K followers, [----] engagements


"$ASTH $PRVA We highlighted $ASTH in our very lively subscriber chat a few weeks ago. Here are our more detailed thoughts. https://open.substack.com/pub/lakecornelia/p/astrana-health-the-son-becomes-ther=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/astrana-health-the-son-becomes-ther=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2012256647427637722)  2026-01-16T20:12Z 28.8K followers, [----] engagements


"$HE With the breakout today we are sharing our [----] note on $HE. We said $15-20 back then. https://open.substack.com/pub/lakecornelia/p/our-hawaiian-electric-note-from-2024r=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/our-hawaiian-electric-note-from-2024r=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2014407095462838765)  2026-01-22T18:37Z 28.8K followers, [----] engagements


"it was 7-8 year ago that I was talking with a friend at one of the top [--] PE funds and he softly mentioned that they put in a new policy where you had to show 3-4 years of historical income statement and cash flow statement when presenting a forward projection. Apparently there were a few instances of model assumptions being not realistic and the pro forma missed badlywhen a post mortem was done it was clear it never would have gotten through committee had they shown the historical with the pro forma. Quote more relevant than ever https://t.co/SJzYNFitUA Quote more relevant than ever"  
[X Link](https://x.com/CorneliaLake/status/2015267082523619779)  2026-01-25T03:34Z 28.8K followers, 19.3K engagements


"Take: There is a currently at least one short report on $IONQ being written that is centered around the stock collar tied to the $SKYT deal"  
[X Link](https://x.com/CorneliaLake/status/2015854008578060596)  2026-01-26T18:27Z 28.8K followers, 12.6K engagements


"$ORN New note on $ORN. Can this $18 billion project backlog get converted to revenue https://open.substack.com/pub/lakecornelia/p/orn-helping-the-military-scare-chinar=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/orn-helping-the-military-scare-chinar=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2017347431130599889)  2026-01-30T21:21Z 28.8K followers, [----] engagements


"SOURCES: WINKLEVOSS TWINS SEND EMAIL TO CRYPTO OPPONENT FORMER SEC CHAIR GARY GENSLER. THE EMAIL HAD NO TEXT JUST MULTIPLE HEART EMOJIS AND A TABLE WITH THE PRICE CHANGE OF MULTIPLE 3X LEVERED PRECIOUS METAL ETFS. SEN WARREN AND MIKE NOVOGRATZ WERE CCD"  
[X Link](https://x.com/CorneliaLake/status/2017386506202079433)  2026-01-30T23:56Z 28.8K followers, [----] engagements


"In our note on $BW which we pitched at $5 we had an extensive discussion of the history of E&C names going back to 2002-2007 period when Gendell bought 20% of all of them. With this note on $ORN we walk through the history since IPO and note all the issues. Its basically a rule with any E&C company that if you dare mention it that at least 10+ people will respond in the knowing way that you have. Comes with the territory. https://open.substack.com/pub/lakecornelia/p/babcock-and-wilcox-bw-denham-ai-magicr=1niz6q&utm_medium=ios&shareImageVariant=overlay"  
[X Link](https://x.com/CorneliaLake/status/2017434345061900790)  2026-01-31T03:06Z 28.8K followers, [---] engagements


"Elon: We are building a fab with [---] GW a year of capacity Market: sell solar names Elon: We are going to build the fab because we plan on putting up thousands of satellites with solar panels for data centers in space Market: $TE $FSLR 🚀"  
[X Link](https://x.com/CorneliaLake/status/2017677447798349955)  2026-01-31T19:12Z 28.8K followers, [----] engagements


"R.I.P. Leveraged Sellout. We would have a story about an EVP at $MS being tasked with taking back the title of goyim in abundance from $JPM while $GS still wins books left despite doing a padel event with a [--] minute opening Q&A on wellness. Meanwhile Dahlman Rose will never be be usurped as the undisputed king of Wall Street yacht partiesIYKYK 🚨NEW: Epstein warns Peggy Siegal that they're going to a party with "goyim in abundance" on an email chain called "Yacht Slut." 💀 https://t.co/tmGhXrx8wY 🚨NEW: Epstein warns Peggy Siegal that they're going to a party with "goyim in abundance" on an"  
[X Link](https://x.com/CorneliaLake/status/2017741881485185235)  2026-01-31T23:28Z 28.8K followers, 12.4K engagements


"$EBAY $PYPL  We wrote about this in December. $EBAY looking solid here and has an AI tailwind. https://open.substack.com/pub/lakecornelia/p/ebay-an-inorganic-share-cannibalr=1niz6q&utm_medium=ios&shareImageVariant=overlay Ebay has a chance to do the funniest thing https://t.co/4DccffW6YM https://open.substack.com/pub/lakecornelia/p/ebay-an-inorganic-share-cannibalr=1niz6q&utm_medium=ios&shareImageVariant=overlay Ebay has a chance to do the funniest thing https://t.co/4DccffW6YM"  
[X Link](https://x.com/CorneliaLake/status/2018807308214772162)  2026-02-03T22:02Z 28.8K followers, [----] engagements


"$PYPL Management matters. Vision matters. Below captures all the missed opportunities. Sad story. Evolve or die. A few thoughts about PayPal nearly [--] years after I left. I woke up this morning to dozens of messages from former PayPal colleagues. It pushed me to finally speak up. I never spoke publicly about the company after I left. Part of that was loyalty to John Donahoe who gave me A few thoughts about PayPal nearly [--] years after I left. I woke up this morning to dozens of messages from former PayPal colleagues. It pushed me to finally speak up. I never spoke publicly about the company"  
[X Link](https://x.com/CorneliaLake/status/2018889235663642916)  2026-02-04T03:27Z 28.8K followers, [----] engagements


"@WolfpackReports 🤔 $IONQ $SKYT Take: There is a currently at least one short report on $IONQ being written that is centered around the stock collar tied to the $SKYT deal. Take: There is a currently at least one short report on $IONQ being written that is centered around the stock collar tied to the $SKYT deal"  
[X Link](https://x.com/CorneliaLake/status/2019199879654904170)  2026-02-05T00:02Z 28.8K followers, [----] engagements


"$ORN Up nicely today on a great deal in marine construction. Our full substack note from [--] days ago  $ORN New note on $ORN. Can this $18 billion project backlog get converted to revenue https://t.co/0k5iDKFhYx https://t.co/xHLlPNiq6T $ORN New note on $ORN. Can this $18 billion project backlog get converted to revenue https://t.co/0k5iDKFhYx https://t.co/xHLlPNiq6T"  
[X Link](https://x.com/CorneliaLake/status/2019424159575732338)  2026-02-05T14:53Z 28.8K followers, [----] engagements


"We are going to continue to write regular notes as the SaaS war continues. https://open.substack.com/pub/lakecornelia/p/the-saas-wars-margin-calls-comethr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/the-saas-wars-margin-calls-comethr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2019618790112178529)  2026-02-06T03:46Z 28.8K followers, [----] engagements


"Just feel like I can wait till May earnings to decide and risk of missing out is maybe $0.25 - [----] per share. This is going to be a slow grind. Agree its "private equity attractive" on a [--] year hold. With the software $IGV backdrop the bar is pretty high. Lack of North American growth is also a big issue - people will need to see the inflection. https://twitter.com/i/web/status/2021309477052387703 https://twitter.com/i/web/status/2021309477052387703"  
[X Link](https://x.com/CorneliaLake/status/2021309477052387703)  2026-02-10T19:45Z 28.8K followers, [---] engagements


"$43 for cheese pizza in Vegas https://maps.app.goo.gl/tVJAcyw4TYJDp8et9g_st=ic @beatals44 $43 for a margarita pie. https://t.co/oooXY1C4Le https://maps.app.goo.gl/tVJAcyw4TYJDp8et9g_st=ic @beatals44 $43 for a margarita pie. https://t.co/oooXY1C4Le"  
[X Link](https://x.com/CorneliaLake/status/2021428514759839856)  2026-02-11T03:38Z 28.8K followers, [----] engagements


"@BillAckman now long $META Our two notes highlighting it as an AI winner. We see [--] x $50 = $1500 https://substack.com/@lakecornelia/p-180064285 https://substack.com/@lakecornelia/p-186153534 https://substack.com/@lakecornelia/p-180064285 https://substack.com/@lakecornelia/p-186153534"  
[X Link](https://x.com/CorneliaLake/status/2021652616548430255)  2026-02-11T18:28Z 28.8K followers, [----] engagements


"There was an early moment of my hedge fund career that drove this point home 👇. The first hedge fund I worked at was a large investor in the Enron bankruptcy. They used to do firm wide teach ins on the big positions so everyone felt enfranchised. They put the capital structure up on the projector and instead of linear boxes it was this insane treasure map with arrows circles and lines going all over the place(I could be mistaken but I am half sure that Lou Pai had a dancer get a tattoo of it and it covered all of her back but everyone assumed it was sandscrit)after a few seconds of everyone"  
[X Link](https://x.com/CorneliaLake/status/1722050941547950304)  2023-11-08T00:38Z 28.8K followers, 245.2K engagements


"Credit Hedge Funds are so much more urbane than equity funds. Credit guys have to be more thoughtful given the negative convexity and lower liquidity. Analysts will make pitches on ideas and the PM will look out the window lost in thought and say something like "I bet the third owner of this asset makes money." and then the meeting will end and the fund will get short"  
[X Link](https://x.com/CorneliaLake/status/1723445244182589637)  2023-11-11T20:59Z 28.8K followers, 89K engagements


"Hedge Fund People You Meet: The Angry Men of Credit You can read below the constructive feedback from the very sharp credit maven below. I have met a lot of these people in my career. At times in my worser moments I have been an angry man of credit. You cover the same few names and every day get pestered with the same questions and at some point you convince yourself that you will never convince your PM to do what you want and all the risk you have on is stuff you loath. How do you advance How do you get paid Man it can be tough.but you just have to stay positive and keep trying. The best"  
[X Link](https://x.com/CorneliaLake/status/1746687206150791357)  2024-01-15T00:14Z 28.8K followers, 203.7K engagements


"Our [--] page update on $TOI is live. We discuss the recent events in the oncology space including how its different from $EVH and why the big three drug distributors $MCK $COR $CAH are racing to roll-up oncology assets at 18x EBITDA. https://open.substack.com/pub/lakecornelia/p/the-oncology-institute-toi-a-growthr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/the-oncology-institute-toi-a-growthr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/1998540038561497542)  2025-12-09T23:47Z 28.8K followers, 35.2K engagements


"This is a great thread on private equity  $APO $BX $TPG $CG $HLNE $KKR Kravis is describing the death of the most profitable trade in private equity history. The rollup math used to be simple. Buy [--] plumbing companies at 4-5x EBITDA combine them into a platform exit at 12-15x. Pure multiple arbitrage. No operational improvement required. GF Data Kravis is describing the death of the most profitable trade in private equity history. The rollup math used to be simple. Buy [--] plumbing companies at 4-5x EBITDA combine them into a platform exit at 12-15x. Pure multiple arbitrage. No operational"  
[X Link](https://x.com/CorneliaLake/status/2004650698622075103)  2025-12-26T20:29Z 28.8K followers, 32.1K engagements


"Trump has spoken. Data Centers need captive inside the fence power generation. The shortest term solution (with $GEV $SIEGY sold out on gas turbines) and nukes taking 6-10 years are things like $BE $FSLR $TE. Our note on $TE is below. $VST $TLN $NRG $CEG and more are all fine too. Power cycle continues @AndrewRangeley and I discussed some of this on a recent @YetAnotherValue podcast: https://podcasts.apple.com/us/podcast/yet-another-value-podcast/id1526149547i=1000744299850 $TE $FSLR Our second note on $TE is . One of the things we like about the trade is the huge positive sector beta in"  
[X Link](https://x.com/CorneliaLake/status/2010864742647165315)  2026-01-13T00:01Z 28.8K followers, 185.1K engagements


"$STGW Our thoughts on $STGW. Is it time for this thing to re-rate after a [--] year slog https://open.substack.com/pub/lakecornelia/p/stagwell-stgw-ready-to-re-rater=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/stagwell-stgw-ready-to-re-rater=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2013726394576937280)  2026-01-20T21:32Z 28.8K followers, [----] engagements


"$OWL $ARES $APO $QQQ We highlighted in our 30+ page piece on the credit cycle that the private credit guys are massively overweight legacy software / SaaS on an outright basis and vs. the HY index $HYG. The move in legacy SaaS names $ORCL $MSFT $CRM $NOW $HUBS continues to work against them. The best guys in private credit are at 40% LTV and cash pay.but as always happens when AUM growth meets lack of supply.the "fast followers" in private credit likely in part fooled themselves into thinking they can do enough with structure (ie lower LTV PIK option seniority) to save them. Note also that HC"  
[X Link](https://x.com/CorneliaLake/status/2016928201470263774)  2026-01-29T17:35Z 28.8K followers, 38.1K engagements


"$OWL $ARES $APO $BX $KKR $TPG $OTF $OBDC Link  to our memo on credit markets where we call our software exposure of private credit guys. Entire complex getting torched today. $OWL $ARES $APO $QQQ We highlighted in our 30+ page piece on the credit cycle that the private credit guys are massively overweight legacy software / SaaS on an outright basis and vs. the HY index $HYG. The move in legacy SaaS names $ORCL $MSFT $CRM $NOW $HUBS continues to https://t.co/iGPFJa8E89 $OWL $ARES $APO $QQQ We highlighted in our 30+ page piece on the credit cycle that the private credit guys are massively"  
[X Link](https://x.com/CorneliaLake/status/2018724787762110917)  2026-02-03T16:34Z 28.8K followers, 11.7K engagements


"SOURCES: BLUE OWL CO-CEO MARC LIPSCHULTZ STEPS OUT OF IC TO SEND EMAIL. IT WAS IN THE HEART OF A DATA CENTER LOAN PITCH. HE EMAILED IR TO MAKE A SLIDE HIGHLIGHTING $OWL VS. OTHER SPACS OF THE SAME VINTAGE. STILL OVER $10 IS A BIG DEAL"  
[X Link](https://x.com/CorneliaLake/status/2018835802860691858)  2026-02-03T23:55Z 28.8K followers, 11.8K engagements


"$OWL is the $ETE of [----]. Like the failed $WMB merger $OBDC tried a merger too. People alive to see the MLP blow up in 2014-2015 watching a new generation of people buy fake yield on the way down. It took the MLPs 6-7 years to bottom and we still havent taken back the prior highs. BDCs will be a similar tale. Products sold as safe and yield based lose investor interest for 1-2 generations when they fail. https://twitter.com/i/web/status/2018844004046250039 https://twitter.com/i/web/status/2018844004046250039"  
[X Link](https://x.com/CorneliaLake/status/2018844004046250039)  2026-02-04T00:28Z 28.8K followers, [----] engagements


"SaaS investor rotating into something with a better r/r A bettor at @CaesarsPalace in Las Vegas just placed a $253000 on Heads (-103). Super Bowl coin flip bet was made in cash per @CaesarsSports spokesperson. A bettor at @CaesarsPalace in Las Vegas just placed a $253000 on Heads (-103). Super Bowl coin flip bet was made in cash per @CaesarsSports spokesperson"  
[X Link](https://x.com/CorneliaLake/status/2020642309688492198)  2026-02-08T23:34Z 28.8K followers, [----] engagements


"RT @Investor_NICK_: No one will ever win the way boomers have won the last 20+ years everything is working in their favor. Absolutely inc"  
[X Link](https://x.com/CorneliaLake/status/2021004138004304209)  2026-02-09T23:31Z 28.8K followers, [--] engagements


"No one dreams bigger than an over levered Latin crypto buyer of a miami villa who wanted to impress his mistress and now has to pay home insurance and property taxes: https://apps.realtor.com/mUAZ/pn0vg02v https://apps.realtor.com/mUAZ/pn0vg02v"  
[X Link](https://x.com/CorneliaLake/status/2021042440375808193)  2026-02-10T02:04Z 28.8K followers, [----] engagements


"Thoughts on $AIOT post the Q https://open.substack.com/pub/lakecornelia/p/aiot-monitoring-the-situationr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/aiot-monitoring-the-situationr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2021251873617936802)  2026-02-10T15:56Z 28.8K followers, [----] engagements


"https://youtu.be/MJEAGd1bQucsi=nvreh4UWHeaBnYat Tobey Maguire is dating a [--] year old. There is a THIRTY year age gap between them. https://t.co/3GjD6Q3Zm5 https://youtu.be/MJEAGd1bQucsi=nvreh4UWHeaBnYat Tobey Maguire is dating a [--] year old. There is a THIRTY year age gap between them. https://t.co/3GjD6Q3Zm5"  
[X Link](https://x.com/CorneliaLake/status/2021284283915080191)  2026-02-10T18:05Z 28.8K followers, 10.2K engagements


"Small caps gonna small cap. When you have an illiquid stock that gets people stuck the discounts are larger. Management done a fine job of controlling things they can control. The "Rule of 40" message I think was more the tell.this is an industrials business. Once again a valuation gap between a premium $IOT and sub premium roll-up $AIOT is resolving closer to the lower end comp. Can still work from here and monitoring the situation. Just have plenty of other names that feel easier. https://twitter.com/i/web/status/2021311750872739912 https://twitter.com/i/web/status/2021311750872739912"  
[X Link](https://x.com/CorneliaLake/status/2021311750872739912)  2026-02-10T19:54Z 28.8K followers, [---] engagements


"Boomers for the win There's one group of market participants that will reliably be the last to adjust to a new paradigm https://t.co/v18nmnidAp There's one group of market participants that will reliably be the last to adjust to a new paradigm https://t.co/v18nmnidAp"  
[X Link](https://x.com/CorneliaLake/status/2021442408140177472)  2026-02-11T04:33Z 28.8K followers, [----] engagements


"$SPY $QQQ $IWF $IWD $OIH $RSP Our thoughts on today. Value is Now Momentum https://open.substack.com/pub/lakecornelia/p/value-is-now-momentumr=1niz6q&utm_medium=ios https://open.substack.com/pub/lakecornelia/p/value-is-now-momentumr=1niz6q&utm_medium=ios"  
[X Link](https://x.com/CorneliaLake/status/2021659751399272619)  2026-02-11T18:57Z 28.8K followers, [----] engagements


"$TOI $XGN $ASTH $PGNY $ACHC $STIM $AIRS Stock action has been ugly since conference started. We will see what tomorrow brings"  
[X Link](https://x.com/CorneliaLake/status/2011267886460072179)  2026-01-14T02:43Z 28.8K followers, [----] engagements


"POV: Asian wives realizing this halftime show is a psyop to get SF tech bros to move to Miami and date a Latina"  
[X Link](https://x.com/CorneliaLake/status/2020670761875239206)  2026-02-09T01:27Z 28.8K followers, 173.6K engagements


"Our thoughts heading into the week as the SaaS Wars continue. We examine a few corporate deaths and start to address the "speed" question that many investors are struggling with. How much duration do SaaS companies really have $IGV $OWL $ARES $MSFT $AMZN https://open.substack.com/pub/lakecornelia/p/the-killing-fields-of-silicon-valleyr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/the-killing-fields-of-silicon-valleyr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2020706718141784422)  2026-02-09T03:49Z 28.8K followers, [----] engagements


"$RIG $VAL $TDW $NE $SDRL $BORR $FTI $SUBCY $SPM Our initial thoughts on the merger today. https://open.substack.com/pub/lakecornelia/p/rig-val-an-equity-offering-via-mergerr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/rig-val-an-equity-offering-via-mergerr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2020917119760687550)  2026-02-09T17:46Z 28.8K followers, [----] engagements


"$PRCH Our note below. Guide fine solid Q. Stock +15% and can multi bag from here $PRCH Earnings AMC tomorrow. Stock has come off from $19 to $7.50. We get ready for the call. https://t.co/FE0UKd0DdK $PRCH Earnings AMC tomorrow. Stock has come off from $19 to $7.50. We get ready for the call. https://t.co/FE0UKd0DdK"  
[X Link](https://x.com/CorneliaLake/status/2021693091866943989)  2026-02-11T21:09Z 28.8K followers, [----] engagements


""The Selling Becomes Pavlovian" New note. $IWF $IWD $OIH $IGV https://open.substack.com/pub/lakecornelia/p/the-selling-becomes-pavlovianr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/the-selling-becomes-pavlovianr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2021984949822534045)  2026-02-12T16:29Z 28.8K followers, [----] engagements


"We follow up on $PRCH post earnings and drill down on the reciprical insurance co setup and how the $660 of medium term EBITDA targt could play out (they did $76 this year in EBITDA). https://open.substack.com/pub/lakecornelia/p/prch-q4-earningsr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/lakecornelia/p/prch-q4-earningsr=1niz6q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/CorneliaLake/status/2022156399023993293)  2026-02-13T03:50Z 28.8K followers, [----] engagements


"$RIG $BORR $VAL $DO $SDRL $NE $TDW $FTI I know the stocks have runand the RSIs are 70-90 right now and we are due for a technical pullbackbut these things are all discounting 1-3x cash flow on prior peak economics which will be eclipsed in 18-24 months. Early innings"  
[X Link](https://x.com/CorneliaLake/status/1589743995340886017)  2022-11-07T22:17Z 28.8K followers, [---] engagements


"$RIG $VAL $NE $BORR $SDRL $DO $TDW Stock down. Big run into number and needs to base. Call very LT bullish. We are early days. RIG call notes - Norway down to [--] from [--] semis [--] years ago and more to leave. Given worse local economics will be hard to get them back - $PBR next tender to target idle North Sea / Norway assets - IOCs moving faster than they have in [--] years but $PBR moving faster - Demand outlook continues to expand with Australia and West Africa humming and GOM needing 2-3 more rigs - Rates going higher and think $PBR stealing the fleet at mid 400s - Seeing same 10% opex"  
[X Link](https://x.com/CorneliaLake/status/1628407841164763139)  2023-02-22T14:54Z 28.8K followers, 129.3K engagements


"$VAL $RIG $NE $TDW $SDRL $DO $BORR $VAL We are not activists and this is not a real letter to the company.but one we could see written. We think they do the right thing in the end.since everyone else is. There is a LOT of anger in the conversations we have had with holders"  
[X Link](https://x.com/CorneliaLake/status/1630351920496779266)  2023-02-27T23:39Z 28.8K followers, 191.1K engagements


"$SIVB $SIVBP $QQQ $ARKK $RILY The market implications of this situation are far and wide. We have a $210+ billion balance sheet (which was a mere [--] billion [--] years ago) that could well have an unwind. It is not a stretch at all to argue that on a current mark to market basis that equity is negative to the tune of of billions (you can be insolvent but liquid and survive as a bank). The hit to the startup eco-system of an impaired or vanquished $SIVB would be substantial. Beyond the negative duration risk we highlighted (asset side locked at sub [---] bps vs. liability side could increase to"  
[X Link](https://x.com/CorneliaLake/status/1633886003684360215)  2023-03-09T17:42Z 28.8K followers, 678.6K engagements


"$SIVB $SIVBP $KRE $FRC $SBNY Feds seized $SIVB. The stock preferred and bonds will be zero'd. Normally a seizure is announced concurrent to a sale of the deposits and some assets. Given how fast moving this is they seized first. We expect a sale of the deposits and some assets by Monday morning and account holders to be unaffected. With $FRC and other front line banks down significantly we think the feds rationalize a way to finance through the $20 billion potential hole between the liquid value of the balance sheet and the $172 billion of deposits. The risk of not making deposits whole and"  
[X Link](https://x.com/CorneliaLake/status/1634249306197708801)  2023-03-10T17:46Z 28.8K followers, 860.8K engagements


"Michael Cembalest the brilliant market strategist at $JPM highlighting how much of an outlier $SIVB was in two charts: [--]. Highest risk least sticky deposit base [--]. Worst capital position $42 billion of $170+ billion of deposits was yanked in [--] day. Doubt any other bank could see that speed"  
[X Link](https://x.com/CorneliaLake/status/1634596377912041481)  2023-03-11T16:45Z 28.8K followers, 1.7M engagements


"Full note: https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/eye-on-the-market/silicon-valley-bank-failure-amv.pdf https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/eye-on-the-market/silicon-valley-bank-failure-amv.pdf"  
[X Link](https://x.com/CorneliaLake/status/1634597063772995585)  2023-03-11T16:48Z 28.8K followers, 74.2K engagements


"Exactly. This is why the Fed will use the tactical nukes on Monday. JPow aint going to do the slow burn like he did during Covid. The launch codes are ready he will use one or two of his Ohio class subs and launch a full spread. Bank panic 101: the lender of last resort must leave no doubt"  
[X Link](https://x.com/CorneliaLake/status/1634600730332995588)  2023-03-11T17:02Z 28.8K followers, 1.4M engagements


"$SIVB $SBNY $KRE $SPY JPow has used the nukes. Near perfect regulatory response and what market needed (and in our view what should have been done). Still reading but that is first take. They have done all they can to (1) slow a likely bank run (2) backstopped the system and (3) limited free-rider risk by killing $SBNY too. Liquidity facility with margin rate at 100% of par and you can take the extra collateral to the discount window at the new 100% of par margin rates. However you have to give a parent guarantee if you draw on this (ie recourse) so puts fed pari with holdco bonds on"  
[X Link](https://x.com/CorneliaLake/status/1635049209358430208)  2023-03-12T22:44Z 28.8K followers, 1.3M engagements


"$RIG $TDW $SDRL $DO $BORR $NE $VAL We have had a series of meetings over the last few weeks with brokers industry participants and the CEO of $RIG. Below is a composite of our discussions: Industry Color: - Equinor realizing they screwed up and will probably do an open tender for 2-3 deepwater rigs. Speculation is that rate will be $500+ per day. They is some concern locally that the market dynamics have changed and surprise at how quickly rigs have left the basin. They want to make sure they have access. We believe such a tender if confirmed would be incrementally bullish as it would show"  
[X Link](https://x.com/CorneliaLake/status/1635419268748648450)  2023-03-13T23:15Z 28.8K followers, 275.8K engagements


"$RIG $TDW $VAL $NE $SDRL $BORR $DO Valuation math using Cowen numbers & some extrapolation for $RIG. Similar math holds for rest of group. $RIG uniquely has a de-leveraging story - as does $BORR - coupled with near term unlevered FCF. $15-20 for $RIG comes from $550k/day sustained rates + a few years of debt paydown. We expect rates to peak in this cycle above prior peak.ie $750-$800k or more. Even if you don't get credit on multiple you will get de-leveraging. At $550k/day you get $2.50 per share of debt paydown per year. At $20 per share on [----] debt you are paying under 45% of replacement"  
[X Link](https://x.com/CorneliaLake/status/1639627055712157739)  2023-03-25T13:55Z 28.8K followers, 100.9K engagements


"BREAKING: TYPO IN $RIG FLEET STATUS REPORT ENDS OFFSHORE CYCLE $PBR TO SCRAP ALL FUTURE TENDERS CHINESE YARDS ANNOUCE SECRET PROGRAM TO DELIVER UP TO [---] NEW 12TH GENERATION RIGS IN THE NEXT TWELVE MONTHS OFFER [--] YEAR CONTRACTS AT $125K/DAY. STATE TO SOCIALIZE LOSSES"  
[X Link](https://x.com/CorneliaLake/status/1648787381716131842)  2023-04-19T20:35Z 28.8K followers, 85.6K engagements


"Guy I worked with would build these absurdly complex models. Was looking at a shipping deal and told a different guy on my team to make a new one with all that matters. The model had [--] lines in total on a single sheet. The [--] line model guy remains of the smartest people I have ever met. Bill Miller on simplicity: For every company there are a few key investment variables. The rest of the stuff is noise. Are things getting better or are they getting worse If theyre getting better then I want to understand whats going on. https://t.co/VGT9qrTSP1 Bill Miller on simplicity: For every company"  
[X Link](https://x.com/CorneliaLake/status/1653814651082223625)  2023-05-03T17:31Z 28.8K followers, 69.1K engagements


"CRE is toast data point of the day. Landmark [---] N Michigan owned by Manulife. Being shopped at $110/sqft with 70% seller financing. 60% occupied and price is 9% cap on in place rent. Multiple new buildings going up in West Loop. $70 mm price ask compares to $102 mm purchase in [----] and $113 mm paid in 1999"  
[X Link](https://x.com/CorneliaLake/status/1655945110457298945)  2023-05-09T14:37Z 28.8K followers, 66.7K engagements


"Biden: I will refill the SPR OPEC Meeting: lets go Brandon"  
[X Link](https://x.com/CorneliaLake/status/1665413523462127619)  2023-06-04T17:41Z 28.8K followers, 18.3K engagements


"Commodities and inflation: In [----] [---] years ago the average American home cost the same [----] barrels of oiltoday the average American home costs [----] barrels of oil https://podcasts.apple.com/us/podcast/value-hive-podcast/id1492171651i=1000616265174 https://podcasts.apple.com/us/podcast/value-hive-podcast/id1492171651i=1000616265174"  
[X Link](https://x.com/CorneliaLake/status/1667614973839679490)  2023-06-10T19:29Z 28.8K followers, 52.9K engagements


"$PGY Our recent work on $PGY (memo link below). We think this is an interesting situation for equity (stock and warrants) and credit (tons of ABS) investors. We can see scenarios where the stock gets back above $10 over time vs. $1.25 current price. This is a busted de-SPAC that is a comp to $UPST. They have key partnerships with $ALLY $SOFI $LC Klarna and many others. There are also parallels to what $LPRO does in auto. Interesting name and hope people enjoy the (omg is this long) read.okay it is definitely in the TL;DR zone but we tried to be exhaustive. Our memo (please read the"  
[X Link](https://x.com/CorneliaLake/status/1672740202530627587)  2023-06-24T22:55Z 28.8K followers, 167.5K engagements


"$RIG $VAL $NE $SDRL $TDW $DO $BORR $OIH $SLB $HAL $BKR Citi puts out [--] page note raises $RIG from $6.50 to $9.50 and starts $VAL at $85 and $NE at $64. Sell side feels the need to care again and cover this space. They even use the phrase "super-cycle" in the lead bullet"  
[X Link](https://x.com/CorneliaLake/status/1676571409424826368)  2023-07-05T12:39Z 28.8K followers, 47K engagements


"$RIG $NE $VAL $SDRL $TDW $DO $BORR Haters: It just feels like we missed offshore.after doubting it Lovers: MS model assumes just [--] of $RIG [--] rigs are active in [----] with an average day rate of $383kstreet is insanely low if this cycle resembles past cycles and $NE $VAL just starting to get sell side coverage$TDW now $60 vs $20+ FCF per share at new build parity economics"  
[X Link](https://x.com/CorneliaLake/status/1677396999274897408)  2023-07-07T19:19Z 28.8K followers, 54.6K engagements


"Offshore run has me feeling pumped for markets to open. Big [--] $VAL $RIG $NE getting big flows and $TDW screaming higher as well. Earnings start this week and $UNH will be huge for the wet blanket overhang of MLR fears in the big MCOs and VBC names $HUM $CI $CNC $CMAX $PRVA $CANO $AGL $HCA Bank earnings going to be big again this cycle with $KRE back in penalty box of late on higher rates. 2H mentally begins Monday for most people. Europeans have only a few weeks before going on august vacation also known as people complaining about poor service in Italy Will also be looking to $LFST $ZIMV"  
[X Link](https://x.com/CorneliaLake/status/1678093064240517120)  2023-07-09T17:25Z 28.8K followers, 64.9K engagements


"$RIG $VAL $NE $TDW $BORR $SDRL $DO $LNG $NFE $GLNG $EE Some nice slides from GS on energy. Hits most of the energy bull thesis: 8+ years of energy famine have turned a corner and with India Non-China Asia and other places seeing surging energy demand we march forward and need more capex. Great for drillers and LNG. As I said on the recent podcasts: We die at [---] mbpd. .now with that bull thesis mentioned we do agree that this market is supported by recent Opec production cuts. What is different about the focus on opec for offshore vs. shale is that offshore is an "aircraft carrier" in terms"  
[X Link](https://x.com/CorneliaLake/status/1678772239850954752)  2023-07-11T14:24Z 28.8K followers, 28.2K engagements


"$TDW $RIG $NE $VAL $SDRL $BORR Seeing offshore mostly green today says if all. We could well have a full scarcity event in offshore coupled with declining shale productivity and some oil demand growth or said different day rates could exceed $1 million this cycle"  
[X Link](https://x.com/CorneliaLake/status/1686830651494813696)  2023-08-02T20:05Z 28.8K followers, 57.1K engagements


"$RIG $NE $VAL $SDRL $DO $BORR $TDW $OIH $XOP $XLE $SLB $HAL $BKR $XPRO $FTI $SUBCY $WFRD Nice chart from WoodMack showing exploration capex by type in [----] dollars. Note that $TDW used to quote a stat that 60% of their work was Production related so this isn't "all" offshore spend. Much of the bull thesis on offshore is that we are still benefiting from the huge Exploration spend of the last cycle.which is why (second chart) so much of offshore is "in the money" at sub $45 oil. You can still buy the entire offshore universe at well under 5.0x EBITDA on $450k terminal rates.stunning in our view"  
[X Link](https://x.com/CorneliaLake/status/1693429370109448692)  2023-08-21T01:06Z 28.8K followers, 41.6K engagements


"$RIG $VAL $NE $SDRL $TDW $DO $BORR Live shot of the ancient [--] vintage low spec pos asset that $RIG got a $350k a day rate on. We are so backeven the plankton and amebas are getting contracts at decent rates now"  
[X Link](https://x.com/CorneliaLake/status/1696914676662038660)  2023-08-30T15:56Z 28.8K followers, 14.4K engagements


"$VAL $NE $RIG $BORR $TDW $SDRL $DO While many new to offshore will be asking about $500k rates at the Barclays conference next week I plan on being the guy that asks about $750 in [----] and $1 M in late 2026"  
[X Link](https://x.com/CorneliaLake/status/1697639384940449977)  2023-09-01T15:55Z 28.8K followers, 23.1K engagements


"$SDRL $RIG $NE $TDW $VAL $DO $BORR $SDRL CEO at Barc on newbuild: .everytime I try to speak to a shipyard they hang up on methis is a distraction and abstractionno one knows what it costs and no one is going to build onemaybe $1 billion and 3-4 years to build onewe have a baseball bat at the office and we use it to hit people if they say newbuildwe need $1 million a day or $1.2 million dayrates on a terminal to justify one"  
[X Link](https://x.com/CorneliaLake/status/1699433663715229971)  2023-09-06T14:45Z 28.8K followers, 44.9K engagements


"Two decades from now it will be revealed that someone got a [--] year guarantee & deferred comp buyout from 5+ pod shops in a row lost money at all of them and walked away with a $30+ mm 🌰"  
[X Link](https://x.com/CorneliaLake/status/1699557998337626243)  2023-09-06T22:59Z 28.8K followers, 111.5K engagements


"This was probably the high point for the single manager hedge fund model. Of the [--] big pod shops at the time one was well below its high water mark another would be indicted and have to change names and the last had weathered the GFC but still hadnt separated from pack. THE LIL IRON RANGER JUNE [--] [----] Philip and Lisa Falcone Drop $10 Million on High Line Show Up Barry Diller By Jessica Pressler Sounds like the Lil Iron Ranger (a.k.a. hedge-fund manager Philip Falcone) and his missus Lisa Maria got a little impatient the other night at a Friends of the High Line event for big donors. During a"  
[X Link](https://x.com/CorneliaLake/status/1700130429351633259)  2023-09-08T12:54Z 28.8K followers, 131.6K engagements


"SEOUL SOUTH KOREA: MAJOR KOREAN SHIPYARDS PUT OUT JOINT STATEMENT PREEMPTIVELY REJECTING ANY AND ALL ORDERS FOR NEW OFFSHORE RIGS. WE LOST BILLIONS ON THESE THINGS AND NOW DRIVEN BY INVESTOR INTEREST FROM THE BARCLAYS AND PARETO CONFERENCES OUR EMPLOYEES ARE BEING BOMBARDED BY REQUESTS FROM EXPERT NETWORKS TO HELP LONG ONLY INVESTORS GET COMFORTABLE THAT NEW BUILDING WILL BE LIMITEDTHE FLEET IS THE FLEETSTOP BOTHERING US"  
[X Link](https://x.com/CorneliaLake/status/1704994097910440013)  2023-09-21T23:00Z 28.8K followers, 53.4K engagements


"Several years ago I met a more senior guy at a fund we both used to work at for a drink to catch up. He was post - beach in so far as he was working for himself with the freedom to do as he chose. He is in the bucket of people you come across who is humble brilliant commercial and pretty funny when he wants to be. ie a great person to work for. Plotting his next move we discussed his reflective thoughts on buying a business outright and operating it private investments (VC private equity) etc. I asked him why public markets was so low to none existent on his list. We dont work at a big fund"  
[X Link](https://x.com/CorneliaLake/status/1705702471736111265)  2023-09-23T21:55Z 28.8K followers, 51.4K engagements


"$TDW $RIG $VAL $NE $SDRL $SHLF $BORR $DO $XLE $OIH For those not involved in offshore or late to the party.we say late as we think this is still a 2-5x opportunity $TDW memo: YAV Podcast: ValueHive part 1: Part 2: https://podcasts.apple.com/us/podcast/value-hive-podcast/id1492171651i=1000618859820 https://podcasts.apple.com/us/podcast/value-hive-podcast/id1492171651i=1000608935042 https://youtu.be/2DzTG7aH0ocsi=nSG7e5nySDnNrfmE https://drive.google.com/file/d/1cKYzHg62bamDQa620NZcmn_af0A0xTfT/viewusp=drivesdk https://podcasts.apple.com/us/podcast/value-hive-podcast/id1492171651i=1000618859820"  
[X Link](https://x.com/CorneliaLake/status/1707130661943877950)  2023-09-27T20:30Z 28.8K followers, 33.7K engagements


"The Chinese haven't been able to make a capesize as efficiently as the Koreans / Japanese / Singaporeans.and that is just a bath tub on the water to haul coal / grain / etc. What producer is going to underwrite a Chinese newbuild rig Do you just assume that it is the same specification as a 4th or 5th generation Korean rig Shouldn't the chinese start with jackups and then go to semisubs and then.maybe.graduate to drillships How long will it take to build when they are not doing it right now All the drillers are saying 4-5 years if they wanted to get one (and the Koreans would build them). For"  
[X Link](https://x.com/CorneliaLake/status/1707739826055708746)  2023-09-29T12:51Z 28.8K followers, 55.1K engagements


"BREAKING: HEDGE FUND ANALYSTS REJOICE AT NEAR TERM DEMISE OF $DISH. AN ESTIMATED [---] MM HOURS OF WORK HAS BEEN WASTED OVER THE LAST 15+ YEARS THAT STARTED WITH A PM SAYING I KNOW IT IS MESSY BUT ERGIN A SMART GUY"  
[X Link](https://x.com/CorneliaLake/status/1721670431038378406)  2023-11-06T23:26Z 28.8K followers, 49.1K engagements


"Congrats to Lord Chanos. [--] years in the industry is the metric that says it all. Guy seemed to play the game in his own way and enjoyed the ride more than most"  
[X Link](https://x.com/CorneliaLake/status/1725652654230007909)  2023-11-17T23:10Z 28.8K followers, 38.4K engagements


"For those new to energy investing and go through their first "year of frustration" I want you to know that we all feel your pain. The two worst things that could have happened for my long run development as an equity investor were [--]. Starting at a distressed credit fund and [--]. Covering energy. Most of the things you learn from these two experiences are generally detrimental to seeing the world like the Tiger Cubs do. Your world view of what makes a "good business" gets completely messed with and you lose all context. A guy I worked with at a credit fund who is absurdly successful discovered"  
[X Link](https://x.com/CorneliaLake/status/1732585665290756450)  2023-12-07T02:19Z 28.8K followers, 195.9K engagements


"Picture on the left was during my post pod shop garden leave. I may have blown an epic head start to the year- $100+ million of Q1 [----] PNL only to be on the street by Septemberoof Picture on the right is a guy that gets to workout two hours a day and sht posts about energy services SMID equities and the state of the world Note the same watch. I think it is my 15th new strap since my brother gave it to me for college graduation The next best thing to gambling and winning is gambling and losingwith your friends"  
[X Link](https://x.com/CorneliaLake/status/1735813304755372500)  2023-12-16T00:05Z 28.8K followers, 97.5K engagements


"Hedge Fund Stories: Recruiting This is an impossible task with a litany of minefields. Ultimately I think falling back on cultural fit above a certain competence threshold is the way to go. MBAs: I was the resume sorter for a few years at one fund. The base filter was Harvard Wharton and Stanford. I would get a pile of all the resumes and zero instructions. Step 1: Decent college + decent first jobthe pile was cut in halfmind you we were going to interview just [--] kidswhat do you even do at this point Is it fair to say good school + banking = we interview That formula gets you down to maybe"  
[X Link](https://x.com/CorneliaLake/status/1736132516287832372)  2023-12-16T21:13Z 28.8K followers, 106.5K engagements


"$TDW $RIG $NE $VAL $SDRL $BORR As smart people debate which offshore stock to ride remember that sector beta company alpha when it comes to energy services all of these things going to work"  
[X Link](https://x.com/CorneliaLake/status/1737510625121575096)  2023-12-20T16:29Z 28.8K followers, 29.4K engagements


"Friendly reminder that David Tepper the greatest HF manager (non quant) of all time.got dumped by his girl friend of [--] years: His college buddy Roland Lazzaro aired a video tribute to his friend. One segment was called Cindy Perl: Thanks for Nothing after Teppers high-school girlfriend. After a five-year relationship she said to him David I love you but I dont think youre going to be able to support the lifestyle I want. She ended up marrying a dentist. https://www.businessinsider.com/david-teppers-revenge-2010-9 https://t.co/3CLAvevbVw"  
[X Link](https://x.com/CorneliaLake/status/1737573041138233446)  2023-12-20T20:37Z 28.8K followers, 233.6K engagements


"As of at least [----] there were still [---] hedge funds with sub $1 billion of AUM located in crappy midtown office space where the founder was a menace to employees underpaid consistently and once a week would make people agree with him/her that David Tepper was just "lucky" and they should be running $20+ billion instead of him"  
[X Link](https://x.com/CorneliaLake/status/1740405713388630085)  2023-12-28T16:13Z 28.8K followers, 153.2K engagements


"When the obituary of HFs is written and you get a series of [--] for [--] episodes on the key players.I look forward to Tepper's being just like the "I Hate Christian Laettner" episode on The Fab [--] vs. Duke basketball. A story (everyone has them.): It's late [----] and I have been working in HFs for less than [--] months. Calpine filed for bankruptcy which at the time was a top [--] largest filing ever. Just under $10 billion of debt.most of it was second liens and unsecureds. In the end the equity also became interesting but the that is a different story. At filing the 2nds were trading at [--] and the"  
[X Link](https://x.com/CorneliaLake/status/1740420109233991943)  2023-12-28T17:11Z 28.8K followers, 111.6K engagements


"Love this story Platt gave in "Hedge Fund Market Wizards" about having one of his traders who was up $500 million to roll $100 mm of PNL into the new year. Q: Generals fight the last war. Speculators trade the last market. How have you managed to keep your risk so incredibly restrained through all types of markets A: I talk about macro themes a lot because they are fun to talk about but it is the risk management that is the most important thing. The riskcontrol is all bottom-up. I structured the business right from the get-go so that we would have lots of diversification. For example on the"  
[X Link](https://x.com/CorneliaLake/status/1743295290700939456)  2024-01-05T15:36Z 28.8K followers, 289.3K engagements


"Hedge Funds: The "Dark Arts" of Merger Arb For [--] years I was the "not arb" guy on a team of merger arb jedis. I had a front row seat to the $ABBV / Shire drama $NXPI and many other sorted episodes of craziness. With $SAVE / $JBLU in the headlines we hope everyone is taking it in stride. Merger Arb is one of the original "hedge fund" trades. Back in the days of bank prop desks luminaries such as Bob Rubin of $GS $C made their bones humping the merger beat. Many of the early hedge funds started as partially "arbs" - both convertible bonds and mergers. The strategy is a T + [---] bps per year with"  
[X Link](https://x.com/CorneliaLake/status/1747365485400740198)  2024-01-16T21:09Z 28.8K followers, 179.1K engagements


"$XLE $XOP $OIH $RIG $VAL $NE $TDW $BORR $SDRL $HAL $SLB worstsectorever 😂🤣😂"  
[X Link](https://x.com/CorneliaLake/status/1752350875857695065)  2024-01-30T15:19Z 28.8K followers, 35.5K engagements


"Was in the audience at Ira Sohn in [----] when @BillAckman presented $GGP. It was probably the most impressive pitch I have ever heard. The stock was about $1.25 at the time and would be $15+ in a year. His core argument was (1) assets were greater than liabilities- duh and (2) the presence of the control shareholder to shepherd the equity through the chapter [--] process. He talked through a similar situation he invested in during college and had a great slide detailing control shareholders salvaging their equity in a few prior bankruptcies. Most of the distressed community dismissed the trade"  
[X Link](https://x.com/CorneliaLake/status/1760467192204706060)  2024-02-22T00:51Z 28.8K followers, 86.9K engagements


"$PWFL $MIXT $IOT Lake Cornelia Research Management announces new long position in $PWFL. Sees $6+ target with potential for a full-rate into comp group with Samsara $IOT (ie $21 = 8x EV/Revenue vs. $IOT at 15x). Our $6 target is 8x forward EBITDA. Management really doesn't get paid until $15+. The merger between $PWFL $MIXT scheduled to close on 4/2 is transformational for $PWFL and caps an amazing run by new management who joined the company in early [----]. They inherited a subscale business highly levered with no FCF. In [--] years they have transformed this company into a credible competitor"  
[X Link](https://x.com/CorneliaLake/status/1767949469511799152)  2024-03-13T16:22Z 28.8K followers, 224.8K engagements


"HVAC rollup exposure is 17% of all private credit. It is a bigger issue than CRE for regional banks. There is an entire eco-system of human capital that starts in middle market PE gets into Yale School of Management for an MBA and then tries to justify paying 10x cash flow because of "synergies". Be careful out there. The collapse of many private equity backed HVAC roll-ups will be driven by the convergence of [--] critical issues: [--]. Lack of depth on leadership bench [--]. Broken incentives misalignment upon founder's exit at "2nd bite" Let me unpack this approaching trainwreck. 🧵 The collapse of"  
[X Link](https://x.com/CorneliaLake/status/1772961882518765908)  2024-03-27T12:20Z 28.8K followers, 291.9K engagements


"Hedge Fund Stories: curse of the misfits who called the subprime short in [----] David Tepper wasnt the only legend to miss the greatest credit trade ever: subprime CDS. Most of the big boys did. Playing the tape forward prospectively you were actually better off investing with the people that missed it vs the people that got it. I think its one of these examples of a trade that is amazing but requires you to be a bit crazy to actually size it. Said different over the course of time the traits and mental models of the missers are worth more in terms of long run PNL than those of the people that"  
[X Link](https://x.com/CorneliaLake/status/1773801508443705682)  2024-03-29T19:56Z 28.8K followers, 144.5K engagements


"$DELL Is this the greatest LBO ever in terms of value created There is a November [----] FT article that notes $70 billion in gains"  
[X Link](https://x.com/CorneliaLake/status/1774440620070686938)  2024-03-31T14:16Z 28.8K followers, 58.5K engagements


"Hedge Fund Stories: Calling a trader for "color" One of the pains of market neutral or really any hedge fund seat is the moment you are asked to call a sell side trader to "get color" by your PM. In market neutral land a position that falls out of bed by 2-3% relative is a "big deal." Everyday is honestly the "super bowl" when you are hedged super tight. So you find yourself on this call.and the call happens because you work at a place that pays the street so much that they have to talk to you.so you are on this call and the sell side guy can say things like "seeing 1-2 long only"  
[X Link](https://x.com/CorneliaLake/status/1775244523397857543)  2024-04-02T19:30Z 28.8K followers, 278.7K engagements


"Big shout out to @hkuppy for his well deserved nomination as the best emerging hedge fund manager (20 years in the making). Guy has murdered it and put up 1980s level hedge fund performance coupled with 2020s level memes. $TDW is just one of the many things he has called. Its been a blessing to get to know him better and looking forward to many more big wins better memes and updates from the finca https://www.institutionalinvestor.com/article/2d1s86cqv2m9gc89mi48w/culture/here-are-the-finalists-for-the-2024-hedge-fund-industry-awards I remember when I was loading up on $TDW at $11 and"  
[X Link](https://x.com/CorneliaLake/status/1775542428558037161)  2024-04-03T15:14Z 28.8K followers, 76.6K engagements


"Listening to Einhorn talk about a European chemical remainco that has sucked for years is what Sohn used to be about. It is great to be back"  
[X Link](https://x.com/CorneliaLake/status/1775578536704696409)  2024-04-03T17:38Z 28.8K followers, 57.9K engagements


"Investment Banking Stories: First Year Analysts One of the guys in my circle got it "really bad" in banking. M&A group at a BB and this was summer '04 so things were coming back strong but the banks really didn't hire enough people. I know people like to flex with hours worked but this guy actually did average 95ish hours a week for the entire first year. For context I interned at Lehman in the summer of [----] and the intern class was [--] and the analyst class was 80-85. My [----] full time class was [---] - [---] I think but vs. the summer of [----] deal volume was up 2-3x which has a geometric impact"  
[X Link](https://x.com/CorneliaLake/status/1776427987702857769)  2024-04-06T01:53Z 28.8K followers, 269.4K engagements


"Take: I am sure glad that the SPR is filled to the rim. It was really smart of the administration to debate between the merits of $70 vs $80 oil to refill it. That potential savings of $3 billion dollars was well worth the potential economic impact of oil going to $150+ during an Iran vs Israel death match"  
[X Link](https://x.com/CorneliaLake/status/1779261165123588545)  2024-04-13T21:31Z 28.8K followers, 96.1K engagements


"@SxLongshadow Is this satire I militant Marxist Leninist talking about suing someone because what they are doing is "illegal""  
[X Link](https://x.com/CorneliaLake/status/1780333115094802745)  2024-04-16T20:31Z 28.8K followers, 30K engagements


"@ProfSecchi Always funny to meet a STEM kid with a [---] GPA that wears an N95"  
[X Link](https://x.com/CorneliaLake/status/1785329850657476700)  2024-04-30T15:26Z 28.8K followers, [----] engagements


"$TDW $30k leading edge rates. Once the below market contracts roll from Solstad this thing is going to mint FCF. Might see more than $25 per share by end of 2025.a rate that will be sustained for some time they overpriced debt going to get refid at the call dates too. Even if they dont steal hornbeck this thing going to rip. Our $150-200 price estimate for this cycle is likely low"  
[X Link](https://x.com/CorneliaLake/status/1786137441704841659)  2024-05-02T20:55Z 28.8K followers, 67.5K engagements


"$TDW The math: Q1 EBITDA: $139 million Earned Dayrate: $19563 Leading Edge: $30641 Delta = $11078 Ships: [---] Utilization: 81.5% Upside to Spot: $11078 x [---] x 81.5% x [--] = $176 million "Open" EBITDA = $176 + [---] = $315 Annualized = $315 x [--] = $1.26 billion [----] Open upisde = $3k x [---] x 81.5% x [---] = $190 $190 + $1.26 = $1.45 billion $1.45 x [---] = $8 billion / [--] = $150+ (assume net debt trends to zero given the FCF generation) Our estimate of $150-200 as peak for this cycle is likely low. $TDW $30k leading edge rates. Once the below market contracts roll from Solstad this thing is going to"  
[X Link](https://x.com/CorneliaLake/status/1786398654925840562)  2024-05-03T14:13Z 28.8K followers, 64.6K engagements


"Reflections on My Pod Failure: I helped run an event driven pod strategy for years. Its really hard. Most pod shops have long moved away from this strategy (outside of arb) after years of failure. Catalyst is just too hard for the risk model. Why Lets pull a Charlie and invert the question and focus on what works in a market / factor neutral world .the gods of pod are the TMT and consumer PMs. Sometimes the Healthcare PMs too. Year after year they are usually the biggest winners. About 2/3rds of pod PNL comes T +/- [--] days of earnings. The ideal setup for the pod risk model are sectors where"  
[X Link](https://x.com/CorneliaLake/status/1786808218309566554)  2024-05-04T17:20Z 28.8K followers, 147.2K engagements


"Hedge Funds: Raising Money for a New Fund Raising money is exhausting. You do hundreds of meetings set up through cap intro and travel to all the major financial hubssuch as suburban Philadelphia. 95-99.9% of these meetings end in no follow up and sometimes it seems like a victory even if they only ask to to be put on your distribution list. A few things are going on under the surface of this avalanche of rejection. First most allocators need a three year track record to invest. The zero to three ecosystem used to be ruled by (1) seeders (2) fund of funds and (3) rich people who like"  
[X Link](https://x.com/CorneliaLake/status/1791648465958695016)  2024-05-18T01:54Z 28.8K followers, 347.4K engagements


"$TDW Got an email from Bob to make sure I saw his 13Fsuper classy guy. He put a LOT of his fund in $TDW well under $20 and the stock has 5x+. Honestly surprised he didnt take some money off the table sooner given his size. Believe he remains bullish on the company (I will let him speak for himself); people managing client capital have to respect risk management and concentration. Guy is a legend and owes us all nothing and pure class that he reached out. Meeting Bob has been one of the extra gifts of my $TDW investment and we are all better to be involved with him. Class act"  
[X Link](https://x.com/CorneliaLake/status/1793819981571920294)  2024-05-24T01:43Z 28.8K followers, 135.6K engagements


"Institutions write letter demanding lower HF fees.Paraphrasing one of the allocators on this list 👇 (all very sharp people): my private equity real estate VC and beta equities are all doing fine why cant I get a hedge fund that does high teens net with sub 5% volfees are really too high in hedge funds why isnt 1% and nominal performance fee with a hurdle enoughwe like to start at $10 million and never want to be bigger than 10% of your funds AUMwe are skeptical that any market neutral fund can do more than 5-6% on gross and we really dont like to invest with anyone more than 2.5x levered -"  
[X Link](https://x.com/CorneliaLake/status/1796937255153483980)  2024-06-01T16:10Z 28.8K followers, 82.6K engagements


"In the next downcycle if it ever comes buying LP stakes from illiquid pensions and endowments that are about to default is going to be an insane business. Illiquid private credit is now estimated to be 20% of pension fund assets. 👀 https://t.co/82LYa84I2v Illiquid private credit is now estimated to be 20% of pension fund assets. 👀 https://t.co/82LYa84I2v"  
[X Link](https://x.com/CorneliaLake/status/1797750309420446152)  2024-06-03T22:00Z 28.8K followers, 109.9K engagements


"$NMM Lake Cornelia Research Management announces new long position in $NMM. Sees $100 near term target with potential for $200+ "through the cycle." We see $NMM as a classic "discount on a discount" situation with shares trading (1) over 50% cheap to current 2nd hand / "Clarksons" values and (2) over 50% cheap to every comp. We believe the end of $NMM's "bankruptcy in substance" which has progressed for over [--] years and seen over [--] separate entities consolidated into a single public stock has caused investor angst and added too much complexity. With time and the recent rally in Capesize"  
[X Link](https://x.com/CorneliaLake/status/1797987148789854343)  2024-06-04T13:41Z 28.8K followers, 197.5K engagements


"One of the best PE firms that few have heard of is New Mountain Capital. $15.4 billion for their 7th fund. They are very concentrated with the earlier funds typically having just 5-6 investments. Its mostly growth stuff with a secular tailwind. This nugget from the press release also crazy: Over $85 billion of enterprise value created for all shareholders since firms inception with no PE bankruptcies or missed interest payments https://www.newmountaincapital.com/new-mountain-capital-closes-on-15-4-billion-for-new-mountain-partners-vii/"  
[X Link](https://x.com/CorneliaLake/status/1808556856106790990)  2024-07-03T17:42Z 28.8K followers, 134.1K engagements


"An activist sold too early.happens all the time. Carl Icahn had [--] mm $AAPL shares in [----]. Adjusting for the 4-1 split he would have [---] million shares today and his stake would be worth more than $40 billion. Almost every successful activist story involves them selling and the stock continuing to trade higher. especially since the GFC. Lone Pine had [---] million $AAPL shares on 12/31/2010. Would be [----] mm shares today worth $10 billion vs. a 13F value at the same time of $12 billion. Or if you really want to feel bad.here are the top holdings of Tiger Global in Q1 2009.had they done nothing"  
[X Link](https://x.com/CorneliaLake/status/1810709933438148910)  2024-07-09T16:17Z 28.8K followers, 109.9K engagements


"Hearing multiple pods blew up. Also hearing the Head of Macro is +723 bps today Einhorn is trying to hire him back and Puru is perfectly hedged for today"  
[X Link](https://x.com/CorneliaLake/status/1811404666225275141)  2024-07-11T14:18Z 28.8K followers, 66.5K engagements


"All jokes aside if this continues tomorrow it will likely continue into Monday. Tomorrow morning is bank earnings and PPI not exactly a "no news day" either. $KRE is +425 bps today and a big cause of the pain for those not aware. Monday morning may well be "the test" because if this continues tomorrow everyone will have to go to "defcon 2" over the weekend and tons of pods will be at their drawdown limits and may just proactively cut. Average pod tries to make 5-6% per year on gross and most are probably down 75-150 bps today. Guys are definitely blowing up today. You can see it in the"  
[X Link](https://x.com/CorneliaLake/status/1811486004080992594)  2024-07-11T19:41Z 28.8K followers, 98.1K engagements


"$80 billion in new IRS spending financed by issuing 5% debt has yielded a return of 1.2% of invested capital. They will need to find $80 + [--] = $92 billion by year three to breakeven. BREAKING: New data shows the IRS has collected over $1 billion in taxes from over [----] millionaires who had been avoiding paying taxes. Its no wonder President Biden has a target on his back from the ultra-wealthy in this country. BREAKING: New data shows the IRS has collected over $1 billion in taxes from over [----] millionaires who had been avoiding paying taxes. Its no wonder President Biden has a target on"  
[X Link](https://x.com/CorneliaLake/status/1814749170160279675)  2024-07-20T19:48Z 28.8K followers, 36.1K engagements


"Guys its over a dude with a $31 billion cost basis in a stock now worth $180+ billion decided to sell half. The stock has seen its P/E go from [--] to 30+ and has weak top line growth. It was also 40-50% of his book $AAPL In all seriousness its the same thing that caused Robotti to lighten up on $TDW after more than 5x in 2-3 years. Positions get big and capital get rotated. Table is from [----] report"  
[X Link](https://x.com/CorneliaLake/status/1819747877884678318)  2024-08-03T14:51Z 28.8K followers, 66.2K engagements


"Wow didn't realize the Todd Combs hate on Reddit. "Removed utensils from all lunch areas." -- Todd Combs has ruined what was once spectacular. Heres his resume at GEICO Took away profit sharing Eliminated nearly 50% of the associates [-----] down to [-----] Took away good healthcare to horrible healthcare Eliminated all board members except N Pierce Doubled executive pay for his external hires mostly Capital one plus the far left activist group including the former WH spokesman and Boeing Max mouthpiece Provided an average 1% raise for employees while top executives received an average of 100%"  
[X Link](https://x.com/CorneliaLake/status/1838323795993509933)  2024-09-23T21:05Z 28.8K followers, 340.3K engagements


"Harvard alum Bill Ackman gave a great talk on Harvard. He was asked in the Q&A about $SBUX and sounded uninterested - has been a past investment and he knows CEO well from $CMG. Fun fact Harvard has more professors in African American studies [--] than Computer Science or Economics but only has [--] person major in it last year"  
[X Link](https://x.com/CorneliaLake/status/1841220206372536394)  2024-10-01T20:54Z 28.8K followers, 34K engagements


"What stage: Someone asked Druck today what will it take for the market to trade down. Even he was skeptical a scenario exists"  
[X Link](https://x.com/CorneliaLake/status/1841264707920961685)  2024-10-01T23:51Z 28.8K followers, 49.4K engagements


"BREAKING: 7% OF POD SHOP ANALYSTS SUDDENLY RESIGN; MOST SEEKING TO BECOME LONGSHOREMEN. NETTING RISK IS LOWER THERE IS NO DEFERRED COMP AND REALISTICALLY I WAS NEVER GOING TO BECOME A PM. THE MANUAL LABOR IS EASIER THAN POSITIONING INTO EARNINGS SEASON"  
[X Link](https://x.com/CorneliaLake/status/1841490539209801792)  2024-10-02T14:48Z 28.8K followers, 115.2K engagements


"Hedge Fund Stories The Two Towers of James Abbey Capital Management I started in hedge funds in November [----]. I made it deep with several name brand funds but was over the moon when I got the offer at James Abbey. They gave me a choice of leaving banking early or starting immediately; after contemplating this choice for negative [--] seconds I made the obvious choice and handed in my resignation to Lehman. Everyone at the bank was super supportive and thought this was a great move for me with my group head even preemptively offering to write a future recommendation to HBS (I never went to"  
[X Link](https://x.com/CorneliaLake/status/1845667228147995040)  2024-10-14T03:25Z 28.8K followers, 50.8K engagements


"John Paulson going from a Bear Stearns banking MD in the 90s to a random merger arb guy in [----] to subprime short legend and running $30+ billion in a single manger fund in [----] to potential treasury Secretary in [----] is an absurd career arc"  
[X Link](https://x.com/CorneliaLake/status/1847302743238594886)  2024-10-18T15:44Z 28.8K followers, 71.3K engagements


"Guy at lunch today talked through how a [--] MW datacenter costs the same $230 million as a high spec jackup rig but has a [--] year cash on cash payback if you sublease it out. The last time I hard newbuild math that good was in [----] talking to a frac sand guy building out a Wisconsin White mine / terminal at 1x cash flow. He didn't appreciate me saying that I hoped he was wrong that it was 1x because if that was true it was all over. From the [----] Berkshire Hathaway Letter: There is an investment postscript in our textile saga. Some investors weight book value heavily in their stock-buying"  
[X Link](https://x.com/CorneliaLake/status/1847348392512348333)  2024-10-18T18:45Z 28.8K followers, 81.9K engagements


"@mrjayw No one was hurt more by the fall of Lehman and Bear than the divorced partners of the MDs who saw their share of deferred compensation go to zero and have no way to earn it back"  
[X Link](https://x.com/CorneliaLake/status/1847661835127787552)  2024-10-19T15:31Z 28.8K followers, 24.9K engagements


"Picture of NYC before Lina Khan saved the affordable luxury handbag market from becoming a [---] company oligopoly instead of a thriving competitive landscape of [---] companies"  
[X Link](https://x.com/CorneliaLake/status/1849621199212433854)  2024-10-25T01:17Z 28.8K followers, 61.1K engagements


"Worked for multiple billionaires and billionaire types. A few thoughts: [--]. The Steve Jobs reality distortion field is not just his. Most / all of these people live in an alternative reality [--]. In the first episode of Billions Wendy responds to Chuck asking her what Axe is like by saying some version of he is smart enough to know that he cant always win but always tries to create a construct where victory is achievable. One of my former bosses was going through a legal dispute and lost a motion in court but said to all us of they spent $500k to win and I spent $1.5 mm but $500k to them is a"  
[X Link](https://x.com/CorneliaLake/status/1852769006350225639)  2024-11-02T17:45Z 28.8K followers, 58.7K engagements


"I emailed Daniel about poker when I was in college. Asked if you were supposed to win every session. He graciously sent me his week which was something like: Monday: +264k Tuesday: -12k Wednesday: - 25k Thursday: - 40k Friday: +389k He added that the key wasnt the winning day where everything goes well but rather fighting through the bad days minimizing loses and allowing himself the opportunity to make his good days about profit vs digging out of a hole. You conspired to block Bernie. You discarded and defamed @TulsiGabbard You didnt invite @elonmusk to a summit on electric vehicles You"  
[X Link](https://x.com/CorneliaLake/status/1854630302443766186)  2024-11-07T21:01Z 28.8K followers, 29.5K engagements


"From a former colleague how leads FO coverage at a big asset manager: WHAT IM HEARING ACROSS OUR FAMILY OFFICE ECOSYSTEM [--]. PUBLIC EQUITIES: S&P hasnt been an easy thing to beat last few years. Most long only or hedge funds havent succeeded so should we stop trying. Many clients are choosing to go passive. A lot of lamenting around having non-US exposure or not just being in the mega caps. Does Trump [---] change any of this or will current trends keep running Pockets of interest around Small Caps and Japan. [--]. PUBLIC FIXED INCOME. The US 10Y at 4.4% and potentially heading higher makes bonds"  
[X Link](https://x.com/CorneliaLake/status/1859602613450440844)  2024-11-21T14:19Z 28.8K followers, 42.5K engagements


"$SOC Position: Balls deep with [----] shares and more options in my wifes account WSB long $SOC https://www.reddit.com/r/wallstreetbets/s/sw2zLxnx0f https://www.reddit.com/r/wallstreetbets/s/sw2zLxnx0f"  
[X Link](https://x.com/CorneliaLake/status/1881880238738862289)  2025-01-22T01:43Z 28.8K followers, 47.2K engagements


"Hedge Fund Stories - Down Day Vibes Extreme down days are a minefield for the trader / analyst. How do you act whats the right thing to do People fall into a few camps: Dramatic Guy: Acts like a best friend has died and seems on the verge of tears Joke guy: exposes his lack of maturity by trying to make people smile. Note that a senior person can tell a joke during down days so long as they are over [--] or have been paid more than a $3 million bonus Headlamp guy: this is the guy that comes in at 5:30 am most days and is always 24/7 in turbo mode. This guy loves down days and sends way too many"  
[X Link](https://x.com/CorneliaLake/status/1819414278706692255)  2024-08-02T16:45Z 28.8K followers, 118.6K engagements

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