londoncap @londoncap100 Twitter profile

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londoncap

@londoncap100

1 year

Best investing advice I’ve received was from a PM who said “Your job is to pick good stocks, not make good models” It’s not an excuse to not do the work or know the business, but if you can’t translate #’s from a spreadsheet into what it means for a stock, it’s all worthless.

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londoncap

@londoncap100

1 month

“Wait so you got all the earnings wrong this week? But I thought you like worked all last weekend… I don’t get it, you work more but like don’t get better? Like what were you even working on then? Why don’t you just not own the ones that are going down?”

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londoncap

@londoncap100

2 years

Sentiment check - I work on a TMT team and we are currently discussing buying energy etfs as our longs and just push all our software shorts lol

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londoncap

@londoncap100

6 months

Would recommend this book for investors booking to learn about semis. Nothing to do with companies/stocks, but is an easy to read overview for people (like me) that don’t have technical background. Definitely won’t be an expert after reading but it’s a good starting point.

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londoncap

@londoncap100

1 year

Me when old LO coworkers ask how’s life going at a pod

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londoncap

@londoncap100

1 year

Never been an Airbnb fan, but caved and booked one for a ski trip this week. Got in at 10pm, it was 10 degrees outside, and we were locked outside for 30 min because host gave us the wrong code to the lockbox… going back to hotels next time for sure

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londoncap

@londoncap100

8 months

Me *L/S tech investor* listening to my healthcare friends complain about how stupid narratives are driving “crazy” moves in their stocks

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londoncap

@londoncap100

6 months

Getting an individual stock call wrong (ie down 20% on earning) sucks, but it almost never blows up a portfolio by itself. Getting caught offside on factor exposures can blow you up in a few days on no news at all. Learned this one the hard way.

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londoncap

@londoncap100

2 months

4 Qs I ask in each interview. #1 stumps a lot of ppl. Helps see if they can explain a concept in simple/clear way. I add #3 because most give qualitative answer to #2 . #4 most ppl say good valuation but that’s not what I’m looking for. Any other Qs ppl have found helpful to ask?

londoncap

@londoncap100

4 months

In process of hiring a junior to help me cover semis/hardware. Anyone who has hired juniors before (1-3yr experience) have recs on most effective case study style? I hate timed modeling tests. Obviously can give take home stock pitch but curious if there’s something more unique.

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londoncap

@londoncap100

1 year

“Bro NOW trades at 7x rev and ‘insert shitco here’ trades at 3-4x rev… it’s a steal at this level!” Yes - that’s cause NOW has a 30% FCF margin and is valued on FCF. The rev multiple is an output. Meanwhile your shitco has never generated a dollar of FCF in its existence…

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londoncap

@londoncap100

1 month

Me: “AMD is the best AI play. Everyone so focused on NVDA they forget customers are still going to run a dual source strategy. Don’t worry about Blackwell, AMD isn’t stopping at MI300, they have a roadmap too. Market will realize this when Lisa beats again this quarter.” PM:

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londoncap

@londoncap100

2 years

One of the things I’ve come to respect about working at a pod is the level of accountability everyone is held to… previously worked at a large LO and it was crazy the amount of ppl that could squeeze by doing bare minimum and it would go unnoticed

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londoncap

@londoncap100

9 months

This is the key problem. MMs can give you clear path to run serious money in your late 20s early 30s with. This opportunity is essentially non-existent at LOs today. 20-25 years ago L0s were launching new products headed by 28 yr olds to expand as fast as they could.

Shortsighted Capital

@ShortSightedCap

9 months

Advancement certainly a problem at a lot of firms. No new products being launched, and analysts don't want to wait 20 years for a shot at a PM seat. No great way to solve this - sleeves, perhaps?

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londoncap

@londoncap100

4 months

In process of hiring a junior to help me cover semis/hardware. Anyone who has hired juniors before (1-3yr experience) have recs on most effective case study style? I hate timed modeling tests. Obviously can give take home stock pitch but curious if there’s something more unique.

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londoncap

@londoncap100

9 months

Idea velocity is one of the harder parts of working at a pod. Especially if with a set coverage list in a highly volatile sector. Relative value shifts can happen so quickly that it’s not uncommon to be long a stock this week and short the next. Mindset takes getting used to.

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londoncap

@londoncap100

7 months

Investing in public market software will turn you into a (i) highly skilled risk manager, (ii) degenerate gambler, or (iii) someone who is so scared from the 25%+ weekly moves that you completely lose the ability to take any risk at all… and I don’t know many great risk managers

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londoncap

@londoncap100

9 months

Actively help them grow network/visibility. Send them to conferences, idea dinners, client meetings, etc. Network is probably most important thing an analyst has and it’s a terrible feeling to be and analyst stuck behind a desk doing all work while PM or senior reaps benefits.

HF Reflections

@hfreflection

9 months

What are the best things that you think an HF employer can offer other than pay that increases job satisfaction? Some ideas: 401k, charitable match, flexible hrs, path to career growth, retreat, good snacks, good culture, admin help, client exposure, trade authority, etc?

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londoncap

@londoncap100

1 year

Just put up some thoughts on Sprout Social $SPT. I walk through my assumptions and then try and frame what you need to believe in order to justify the current valuation. My conclusion is a short bias with a view for 30%+ downside.

Thoughts on Sprout Social (SPT)

The Salesforce customer opportunity won't save you

londoncap100.substack.com

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londoncap

@londoncap100

2 months

Anyone have good book/podcast recs related to semis/software? Can be about specific businesses or industry history. Have a couple 7hr flights this week and need to kill time. Had the below recommended to me so looking for more like this. And yes I’ve read Chip War already.

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londoncap

@londoncap100

1 year

Any software stocks people would be interested in seeing long form writing with models on? Less focus on product and more on financials, business model, and how I’d trade the stock. Have downtime going into the new year and hoping to revisit a handful of names.

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londoncap

@londoncap100

1 year

$GTLB showed multiple signs of trouble the last few Qs so this shouldn’t be a total surprise. The positive narrative around GTLB and the underlying numbers didn’t match up. Was a volatile one but the short ended up paying off well. Looking at $SPT next…

londoncap

@londoncap100

1 year

Seeing $GTLB as a top pick for 2023 in multiple sell side notes only reinforces my conviction as a short

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londoncap

@londoncap100

1 year

Just put up some thoughts on BRZE for anyone interested. Conclusion is that I still think there's downside risk at these levels and would lean more towards a short vs long bias. Happy to hear others thoughts if people have different opinion.

Thoughts on Braze (BRZE)

Tough times not over yet

londoncap100.substack.com

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londoncap

@londoncap100

1 year

Any london based investors interested in an informal ideas dinner/drinks? Thinking ~5 min pitch each then just talk markets. Had a few ppl reach out - all mid-20s to mid-30s age so potentially good networking too. DM if interested. Chatham house rule.

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londoncap

@londoncap100

2 years

Firmly believe that a “consensus” long/short position can continue to work if fundamentals continue to move in your favor. Also what may feel like consensus position to specialists doesn’t necessarily mean it’s a consensus position/view for the broader market

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londoncap

@londoncap100

11 months

Software investors love debating infrastructure shifts, AI, or whatever else is hot, but if all you did the last 5 years was buy MANH/SPSC you would’ve massively outperformed IGV. Lot of ppl in the space still don’t know these co exist. Got to be a lesson in there somewhere…

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londoncap

@londoncap100

1 year

If you’re going to buy any of these beaten down software companies please don’t use historical multiples/prices to justify why they’re “cheap” now. What multiple/prices these stocks traded at in 2020-2021 are irrelevant to future returns.

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londoncap

@londoncap100

1 year

Have an opportunity to join a new sm L/S TMT fund launch. Seen tons of negative commentary around analysts joining new funds recently. For those with experience what’s the downside of taking this risk if you’re still relatively young (besides giving up stable comp)?

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londoncap

@londoncap100

7 months

Software investors often confuse the idea of a “great product” and “great company”. They are not the same. Don’t make this mistake.

Jamin Ball

@jaminball

7 months

The challenge for late stage private software companies - Hashicorp and Confluent are trading at 4x NTM revenue. And these are great companies. At an exit multiple anywhere near that, the vast majority of late stage software companies will never grow into their last round

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londoncap

@londoncap100

1 year

I’ve been asked to pick up coverage of some semi names. Have 0 background so any primers or resource recs would be much appreciated. Will start with memory names, MU specifically, so anything related to them would be great. Have access to all ss if you have rec of who’s best.

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londoncap

@londoncap100

1 year

Anyone come across good write-ups/resources for ramping on mega cap sw cos? Thinking of MSFT/NOW/CRM/ORCL/ADBE/INTU. Not looking for typical sellside note, but rather something that helps understand history of the biz assuming you’ve never looked at the cos before.

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londoncap

@londoncap100

2 years

On the bright side there’s going to be a lot of open seats for software analysts at HFs after this earnings season…

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londoncap

@londoncap100

1 year

Mgmt: “Don’t worry guys, we’re gonna reaccelerate from here”

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londoncap

@londoncap100

1 year

Interview tip - if a HF/LO asks you to pitch a stock, don’t pick something that reports soon, not a good risk/reward. Seen candidates dropped for pitching something that tanks (I learned this the hard way) and no one will give you the job cause you got one call right.

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londoncap

@londoncap100

3 months

Software analysts this morning realizing they have to generate a new long idea besides PANW for first time in 3 years: “It's a damn shame what the world's come to… For people like me and people like you… Wish I could just wake up and it not be true, but it is, oh, it is”

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londoncap

@londoncap100

1 year

GTLB laying off 7% of co when they have no cash burn concerns and have said macro isn’t impacting them much… either growth falling off a cliff or are using other co layoffs as a cover to cut under-performers… probably a mix but my guess is Q4 doesn’t look great

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londoncap

@londoncap100

5 months

No better way to start the year ⛷️🎿

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londoncap

@londoncap100

1 year

Anyone have good resources for ramping on US semicap (AMAT, KLAC, LRCX) or recs on who the best analysts are that cover them? I’ve mastered losing money in euro semicap so now taking my talents to the US. Thanks in advance

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londoncap

@londoncap100

1 year

Seeing $GTLB as a top pick for 2023 in multiple sell side notes only reinforces my conviction as a short

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londoncap

@londoncap100

11 months

Typical conversation sequence working at a pod: Me: “I think the story for stock X has played out, time to sell” PM: “ok cool” **2 days later after stock X is down ~3%** PM: “hey is it time to get interested in stock X again?” Me: ….

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londoncap

@londoncap100

1 year

Got to hand it to Satya - only took a couple weeks to transition the MSFT narrative from “consecutive Qs of Azure misses” to “leader in AI and formidable competitor and share gainer in search”. Call me a skeptic but I don’t think the timing of all this is a coincidence…

The Transcript

@TheTranscript_

1 year

$MSFT CEO is declaring war: "From now on, the [gross margin] of search is going to drop forever...There is such margin in search, which for us is incremental. For Google it’s not, they have to defend it all" [ @FT ]

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londoncap

@londoncap100

1 year

Software mgmt teams grand plan to deliver all that margin expansion they’ve promised investors in 2023

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londoncap

@londoncap100

2 years

What are examples of a successful VC investor that transitioned and became successful public markets investor? Ideally 3+ years of outperformance. Looking for specific people rather than a firm that expands to publics by hiring existing public market investors.

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londoncap

@londoncap100

5 months

10 months in. Initially pushed back wanting to expand sw coverage, but was forced into semis. I’m very glad this happened. Still feel like an idiot on the tech, but fortunately you don’t need to be an expert to make money in the stocks. Look forward to learning more in 2024.

londoncap

@londoncap100

1 year

I’ve been asked to pick up coverage of some semi names. Have 0 background so any primers or resource recs would be much appreciated. Will start with memory names, MU specifically, so anything related to them would be great. Have access to all ss if you have rec of who’s best.

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londoncap

@londoncap100

1 year

Taking a break from markets and recharging with some off piste skiing in Chamonix 👌🏻

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londoncap

@londoncap100

8 months

Them: “do you support overthrowing the terrorist state of Israel?!” Me: “nah that’s wack, I’m just trying to do some weekend earnings prep and you guys are blocking the route to my office so now I’m stuck walking in this shit till I get there”

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londoncap

@londoncap100

10 months

Never ceases to amaze me how sell side analysts will ask a completely leading question on an earnings call that supports their thesis, get a half answer/deflection from mgmt, and then subsequently publish a note confidently declaring confirmation of their thesis

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londoncap

@londoncap100

9 months

This is probably worth a long form rant, but I would caution ppl that there is no such thing as a general equity “pod-brain”. The way teams at P72, Millennium, Citadel, Baly, etc operate/run money can be very different. The one common is they don’t tolerate losing money.

Hunter SPX Thompson ❎

@CoorsLightCEO

9 months

"as of 2022, Goldman estimated multi-managers account for 27 per cent of the total hedge fund industry’s holdings in US equities, up from 14 per cent since 2014." -- one must at least have a working knowledge of pod-brain these days

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londoncap

@londoncap100

1 year

I’ve only been working in public markets for ~6 years, but it feels like I’ve already seen 10 “once in a lifetime” market events. Takeaway is that shit happens all the time that people don’t expect.

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londoncap

@londoncap100

2 years

@dalibali2 On the other side I’ve talked to growth/late stage tech funds that are now buying more recent fallen IPOs because they can’t find attractive deals in private markets… Iconiq buying more brze/gtlb/pcor is one example

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londoncap

@londoncap100

9 months

Reflecting on the year and laughing at how bad my initial call was for sw in 2023. Happy with how I pivoted away from my uber bear view cause I would’ve been fired by now if I hadn’t. Also good reminder why I work in mkt neutral model and focus on alpha vs mkt/factor calls lol

londoncap

@londoncap100

1 year

Going into 2023 with the view that we haven’t seen the bottom yet for software. Still finding more shorts than longs in this environment, only question is how aggressive you want to be.

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londoncap

@londoncap100

1 year

Very important for people to remember. The last few years weren’t a “normal” investment environment. It was the easiest time to sell software in the last couple decades and next 5 years likely much more difficult. Exciting part is it should make for great L/S environment.

Buck

@BucknSF

1 year

For most of this century software grew 4-8%. From 2017-2021 that growth accelerated to 10-15%. That was probably the peak, as there were cyclical and secular tailwinds that are not likely to repeat over the next 5 yrs. Maybe AI catalyzes another secular cycle at some point.

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londoncap

@londoncap100

9 months

Of course it’s much more common for a mid-20 yr old to join a MM and blow out in a year than it is for them to run their own portfolio and make a $1m+ by age 30 but for most young/hungry analysts having a shot on goal is better choice than waiting 10+ yrs in someone’s shadow.

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londoncap

@londoncap100

1 year

Important to add context to charts like this. $GTLB, $DDOG, and other software cos routinely guide to #’s they will beat by mid to high single digit % and leave room to raise by additional amounts as well. You need to understand each mgmt’s specific guidance philosophy.

Frank Slootman’s Abandoned Projects

@davey_juice

1 year

$gtlb consensus revenue 30% higher than a year ago $ddog 17% higher $s 14% higher $crwd 12% higher $net 9% higher $zs 6% higher $mdb 4% higher $snow came in a few % lower-insanely massive expectations next year (that they’ll hit anyways) Fundamentals still 👍

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londoncap

@londoncap100

1 year

Increased PE acquisitions isn’t a reason to get bullish SW. Yes more cos will get taken out and mkt can bounce, but stocks ultimately follow path of fundamentals. Buying for potential takeout not a great strategy imo. At least be honest with yourself if thats the game ur playing

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londoncap

@londoncap100

1 year

Had a LO generalist ask me and I think I took for granted how difficult it can to be to wrap your head around these cos if you’ve never covered them or the sw group in general

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londoncap

@londoncap100

3 months

Somewhat unsurprising takeaway from this process is I guess everyone is trying to hire semis analysts… every decent candidate I’ve talked to is interviewing at multiple places and it’s leading to some pretty crazy asks in terms of comp… not a game I’m interested in playing

londoncap

@londoncap100

4 months

In process of hiring a junior to help me cover semis/hardware. Anyone who has hired juniors before (1-3yr experience) have recs on most effective case study style? I hate timed modeling tests. Obviously can give take home stock pitch but curious if there’s something more unique.

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londoncap

@londoncap100

2 years

Too many investors use “long term” focus as an excuse for underperformance in the “short term”. Think it’s more relevant especially when an investment is losing money vs just not being up as much as the benchmark.

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londoncap

@londoncap100

6 months

How many consecutive quarters can “numbers now de-risked” be a credible bull case? Asking for my analog semis friends. But hey if this quarter wasn’t the bottom that means we’re only one quarter closer to the actual bottom!

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londoncap

@londoncap100

1 year

So many software mgmt teams blaming macro for growth slowdown, which can be fair, but many also reference 2021 as a “normal environment”. Late 2020 to beginning of 2022 was basically the best IT spending environment of the last decade, especially for software.

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londoncap

@londoncap100

1 year

If you think a stock is cheap simply because it’s down 50%+ you’re ngmi

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londoncap

@londoncap100

2 years

Think it’s fair to say Nikesh at PANW is one of the best software CEOs of the last 3-5 years. Story is well known, but I still think this stock can outperform the group over the next 3-5 years as well. He’s also the exact type of CEO you’d want if concerned about a recession

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londoncap

@londoncap100

1 year

Another point on GTLB narrative - if Ultimate Tier ARR add in Q4 is flat vs last Q4 it implies yoy growth of < 80%. Mgmt won’t be able to refer to “Ultimate ARR growing 100%+ yoy” anymore. Sequential growth implies 2023 yoy growth of 60-80%.

londoncap

@londoncap100

1 year

GTLB laying off 7% of co when they have no cash burn concerns and have said macro isn’t impacting them much… either growth falling off a cliff or are using other co layoffs as a cover to cut under-performers… probably a mix but my guess is Q4 doesn’t look great

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londoncap

@londoncap100

11 months

Seeing lots of “long-term” oriented investors brag about how well certain stocks have done the last ~6 months, while simultaneously ignoring how they’re significantly below prices from 12-18 months ago. Guessing that means everyone timed the bottom perfectly.

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londoncap

@londoncap100

1 year

Name of the game is figuring out buyside expectations which is extremely difficult and there’s no formula for it. Buyside expectations for these cos are likely lower now vs Jan 22. Following sell side #’s will get you in trouble and aren’t always a good measure of fundamentals.

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londoncap

@londoncap100

2 years

Any GTLB/HCP bulls out there that can explain how they see much upside for the stock from these levels? Acknowledge both have great products. I’m short both stocks tho so genuinely want to find out if I’m missing something. Happy to share my work/numbers

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londoncap

@londoncap100

1 year

A 7% rev beat for $GTLB and $PD mean completely different things. GTLB mgmt sandbags guide every Q and PD generally guides to within 1-2% of what they actually think they will do. No buyside investor relies on sell side #’s. This is why cons #’s can go up and stocks go down.

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londoncap

@londoncap100

1 year

I struggle with how to think about the cos below. Growing fast, have plenty of cash, but mkt wants you to increase pace of margin expansion and become profitable. Stocks have all been crushed. Do you just sit with the cash, buy back stock, make an acquisition?

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londoncap

@londoncap100

6 months

Forcing myself to get back into shape and signed up for the Rome marathon in March. If any fintwit friends have running recs: best shoes, training tips, etc. I’d be much appreciated.

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londoncap

@londoncap100

10 months

It’s also why I place high importance in actually attending meetings myself rather than getting notes from others. Crazy how people can attend the same meetings but leave with completely different takeaways

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londoncap

@londoncap100

9 months

At the end of the day (imo) differentiation comes 2 factors: people and risk management. It’s frowned upon to say, but often the answer to “what’s your edge?” is simply that you’re smarter/better (or believe you are if you don’t have a track record yet) than other investors.

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londoncap

@londoncap100

1 year

I acknowledge Sprout is already a popular short and am cognizant of the squeeze potential on a stock like this. Happy to send across the full excel model if you want to play with the assumptions yourselves.

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londoncap

@londoncap100

1 year

But there does seem to be interest in a wider larger group meet up. Lots of m ppl saying they just want to meet others that work in the biz because they don’t get that opportunity from their job. May organize a larger group drinks event in June for this. More to come.

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londoncap

@londoncap100

1 year

Going into 2023 with the view that we haven’t seen the bottom yet for software. Still finding more shorts than longs in this environment, only question is how aggressive you want to be.

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londoncap

@londoncap100

9 months

28yr olds today have that capability, but LO obviously saturated and trend is consolidation vs expansion. When one gets a PM/sector head seat at TRowe, Capital, Welly, etc they stay for decade plus. For young talent, it means career progression isn’t totally in your control

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londoncap

@londoncap100

7 months

Visual representation of my investment performance this week. So many unforced process mistakes. Never fun to be in a drawdown (especially at a pod), but taking my medicine and won’t compound mistakes from here. Live and learn.

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londoncap

@londoncap100

1 year

Wow close to 100 ppl have reached out expressing interest in this. Sorry to those I haven’t responded to yet. My initial goal was to keep the group small (< 10 ppl) to make it more intimate and replicate what I do with friends. I always found these more useful than large events.

londoncap

@londoncap100

1 year

Any london based investors interested in an informal ideas dinner/drinks? Thinking ~5 min pitch each then just talk markets. Had a few ppl reach out - all mid-20s to mid-30s age so potentially good networking too. DM if interested. Chatham house rule.

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londoncap

@londoncap100

1 month

@MRatable Wait till she finds out I lose money managing to long term outcomes as well

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londoncap

@londoncap100

1 year

So many people talk shit about pod shops and their “short term” trading, but from what I see most of the multi-manager shops are doing great this year after a solid 2021/ 2020. Will be interesting when full year numbers come out, but expect to see more capital flowing that way.

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londoncap

@londoncap100

1 year

Lots of good recs. Going to start with BRZE since they just reported and it’s an easy business to understand - will put it up in next few days. Then likely GTLB/OKTA since these seem to be pretty contested trades.

londoncap

@londoncap100

1 year

Any software stocks people would be interested in seeing long form writing with models on? Less focus on product and more on financials, business model, and how I’d trade the stock. Have downtime going into the new year and hoping to revisit a handful of names.

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londoncap

@londoncap100

7 months

Thought this would be obvious but it’s probably not the best idea to talk shit about a company in a crowded elevator directly after a conference meeting. Especially when you don’t know everyone around you and you’re wearing a name tag…

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londoncap

@londoncap100

11 months

I feel like I’ve aged 5 years in the last 5 months trying to keep a market neutral portfolio in this environment

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londoncap

@londoncap100

9 months

Sick dude, this is literally what every other LO or long duration single manager L/S says at well. I’m far from an expert, but having worked at both large LO and experience with pods, the LOs are much more alike than pods.

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londoncap

@londoncap100

1 year

@AetiusDux PM track is 10+ yrs and good. Have decent amt of capital commit from an anchor. So much $ has gone to mm shops last few yrs and thesis is if you can launch now and put up 2-3 yrs of decent numbers, demand for sm comes back and will be in right place at right time with a track

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londoncap

@londoncap100

3 months

Love watching the narrative change based on after hours moves. Was hit with multiple “NVDA not big enough beat given crowded long” to now “prudent guide leaving room for further beats going forward”. Trying to explain/react to moves before taking a minute to digest is idiotic

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londoncap

@londoncap100

3 months

Anyone have experience living/working in Dubai? Have the opportunity to move there while we try and expand investment coverage into Asia but I’ve heard very mixed reviews. Tax break won’t be major reason for me since I’m a US citizen…

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londoncap

@londoncap100

2 years

If a stock has lost money over a 3-4 quarter timeframe and don’t have a clear understanding as to why and aren’t comfortable adding to the position, then you’re probably better off just selling.

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londoncap

@londoncap100

9 months

Probably a good time to remind investors that unless you had a trade on (and in size), you didn’t “know” a specific event was going to happen… unfortunately don’t get paid on paper books

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londoncap

@londoncap100

1 year

Thought process is I just go back to another fund in a few years if this blows up, but maybe I’m naive in how easy that is. Just don’t know how many chances like this I’ll get. Plus I think the next few years can be great for TMT funds that don’t have the pod risk constraints

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londoncap

@londoncap100

1 year

“Just added to my favorite stock that’s on sale again today! This market is irrational and I’m happy to take advantage!” **buys $5 worth of a fractional share in Robinhood account

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londoncap

@londoncap100

6 months

Wish I had more resources like this when I first started looking at the space earlier this year. Any recs of similar content would be appreciated.

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londoncap

@londoncap100

1 year

Mallorca may be known for obnoxiously drunk British tourists but I still think it’s a great place for beach getaway in Europe

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londoncap

@londoncap100

11 months

Agree with this point. Especially for public mkt tech investing over last ~5 years. By the time most “hot” stocks made it to IPO the private markets had extracted essentially all value.

MrRatable

@MRatable

11 months

@lfg_cap @londoncap100 The lesson is that low rate of change areas are often better places to look for investments than at the bleeding edge of innovation, even in software

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londoncap

@londoncap100

2 years

PATH is the gift that keeps on giving. Been a train wreck since IPO

londoncap

@londoncap100

2 years

@qcapital2020 Running my short into the print so let’s see how this goes

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londoncap

@londoncap100

2 years

PM: wtf I thought you said amzn was a safe haven Me:

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londoncap

@londoncap100

2 years

@GavinSBaker Pretty sure Okta acquired Auth0 around a similar multiple if not higher… also tried to run the company independently like is the plan for Figma… you can’t have 2 teams selling against each other, won’t end well

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londoncap

@londoncap100

6 months

2021 beta boys waking up this morning: “Come on, this is our time to shine again. 2021 performance really was all skill.” 🚀🚀

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londoncap

@londoncap100

10 months

**shitco shorts all squeezing in my face** Me:

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londoncap

@londoncap100

2 years

Any OKTA bulls interested in adding to the stock today up 20%+? My inclination would be to fade this move if I was long and I’m considering putting a short on… open to hearing the bull case aside from just trading at a low EV/Rev multiple

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londoncap

@londoncap100

9 months

Oh you do deep fundamental work and understand the businesses and industries perhaps even better than some management teams? And you don’t focus on short term moves cause the market is a voting machine in ST but weighing machine in the LT?

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londoncap

@londoncap100

1 year

Anyone come across good OKTA reports? Trying to find stuff deeper on the tech side - what sets them apart & how well they compare in hybrid with Access Gateway. Most ppl I’ve talked to say okta loses edge here cause it requires significant implementation.

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