Barrick Mining: IPO Spinoff Dream Hits Royalty Shocker And Margin Squeeze (Archive)
IPO upside dulled by disputes, hidden royalties, rising costs, and richer valuation.
Vish (Hunting Alphas)
Celestica: Mr. Market Gives Us A Perfect Opportunity To Load Up (Archive, Full Access)
Celestica offers a chance to ride accelerating AI demand at a sentiment-driven discount.
Ares Capital: I'm Not Bearish Anymore But Still Have Concerns (Archive)
Strong deal flow, AI‑exposed software book, rich relative valuation keep me Neutral/Hold on ARCC.
Credo: Fantastic Growth Drivers Ahead Make This A Buy (Archive)
CRDO levered to AI data centers, expanding beyond its flagship product of active electrical cables with underpriced growth and valuation tailwinds.
Sempra: A Safe Utility Way To Ride The Data Center Power Boom
Regulated rate-base growth, asset-sale-funded capex, and strong momentum support upside.
3 Apr'26 Portfolio
Fully invested but defensively
Portfolio Performance - Mar'26
Mar'26: ~8% annualized alpha, Sortino 1.8, IR 0.75, rare factor exposures style, low drawdowns. Strategy scalable to >$100M AUM. Live real-money.