Got to LAX extra early this morning and TSA line was actually quick, pleasant (for LAX TSA standards) and no ICE in sight. Touchless TSA Pre is worth every penny.

Watched our guide clip a tree with his face earlier. Took it like a champ and treated it with tequila

Naz, Growth and Tech all green. 🍻

Higher rates. Less leverage. Higher entry multiples. 🔪 🖐️

Lost some fingers in a few financial names but thankfully no limbs have been taken. Sizing is everything.

KOSP I

OMG. Burn them all with fire and scatter their ashes.

Explain a plot badly: a young man lost in the desert joins forces with religious terrorists and stages a coup riding worms.

word of the day: Basque Cheesecake

But not a war.

Adult age humans woke up, went outside and still decided to own financial stocks today.

The private credit funds I've looked at all have about 5-7% of their portfolios in a liquidity sleeve for general liquidity purposes (redemptions) and the average life of a 5-7 year loan is closer to 3 years due to prepayments & refis. But yes, I own too many Alts Mgr stocks so I'm still sad

#$IOT (Samsara) net new ARR growth accelerated bigly for the third consecutive quarter (5% at 1Q to 19% 24% & 33% at 4Q). Dash cams for trucks aret going away anytime soon.

Delta charges over $1300 to fly 200 miles a week out. 🥂

I need to be in Elko, NV next week. Flying from BUR to EKO is almost $1000 more than just flying to SLC and renting a car for a 3 hour drive. Delta is a master of the shakedown.

Sorry for the double post, but it’s a fascinating, well written article with noting to do with Trump, ICE or Iran and you all need a break (gift 🎁) After Avalanche Warnings, a Sierra Nevada Tragedy www.nytimes.com/2026/02/19/u...

‘Avalanche!’: Survivors Recount the Tragedy at Perry’s Peak | an unbelievable story www.nytimes.com/interactive/...

www.metallica.com/tour #$SPHR 🎸

Co's on deck to IPO > last 25+ years of IPO proceeds

Yes I talk a lot of shit but I practice what I preach. Thankfully amazing professions like Emily (guide) and Harry (pilot) kept us safe and made last week so incredible.

You can’t simultaneously believe (a) AI is world-transformative and deflationary and (b) the AI capex won’t be profitable for the investors—pick a lane (sell the capex-heavy leaders vs sell software, but selling “everything tech” is lazy/excessive…. Or not

Basically today:

Checking in on some of the names I follow: (NSFW)

Remember if that Citrini guy is right, you can still get tacos from a random truck with out of state plates at 2AM

Canada lost two championships by this much

Tuesdays SOTU address is going to be shitshow. It was never in doubt, but the stars have aligned for an epic meltdown at our expense.

When was the last time anything positive was reported about private equity? www.bloomberg.com/news/article...

Market feels weird. Even on up days, the tone feels unsettled of late. The sharp snapbacks in big tech (like Wed move) seem more like tactical short covering and FOMO driven buying off oversold levels than high conviction repositioning...

Me and the boys up high in our happy place skiing on 50” of new snow over the past several days

Today’s #$UBER

NFL Hall of Famer Steve Young's PE Firm HGGC Collects $3.2 Billion for Fifth Fund 🏈💰

I own too many financials and PE firms. My second best investment in the depths of the pandemic was buying #$BX common (in the $30s) and LEAPS. So take all of this with a grain of salt. But

So #$OWL says the sold some private credit positions to North American pension funds & insurance companies at 99.7% of par. Almost everything I read online (looking at you FT, and stock guys opining on private credit on the other hellsite). I like to give the benefit of the doubt to *most*

Now do Epstein’s *TRUMP SAYS US TO BEGIN RELEASING FILES RELATING TO ALIENS, UFOS

I skied alone because “No Friends on a powder day” IYKYK

I arrived in Park City (DV) to wait in line to ski the Daly Chutes, as did a couple dozen of my dearest friends.

Know what you own and why you own it. Rinse & repeat. BTW this just doesn’t apply to equities.

I can’t believe a guide would take skiers into the backcountry in conditions like this. Very unstable snowpack, recent warm weather, sudden temperature drop and feet of new snow. Horrible.

www.rgj.com/story/news/2... stay safe out there my Tahoe friends.

Behold the end is nigh and I can’t wait. Wax your skis and travel accordingly

Pending: we are so back #blessed

Feature, not a bug 🧘 #$LULU

You can’t simultaneously believe (a) AI is world-transformative and deflationary and (b) the AI capex won’t be profitable for the investors—pick a lane (sell the capex-heavy leaders vs sell software, but selling “everything tech” is lazy/excessive…. Or not

#$GS just cut price range from $40 - $44 to $26 - $28 on #$CLRS IPO and cut size by 10mm shares. 🦑

@wyomountie.bsky.social Are you patroling at PCMR this season? If yes, how is the skiing? Are you getting snow this week? TIA

I feel seen, though I have no clue what an "alpine ace" is

First “draft” post

Greg Brown, Cake founding guitarist who wrote breakout hit 'The Distance,' dead at 56

Watching the Olympic ski jumping and thinking I might be a natural at it…..