Offshore
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Michael Fritzell (Asian Century Stocks)
If you're excited about Saizeriya, check out my 2023 guide to Japan's restaurant sector (free to share):
https://t.co/AccUTSWWeK
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If you're excited about Saizeriya, check out my 2023 guide to Japan's restaurant sector (free to share):
https://t.co/AccUTSWWeK
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Offshore
Photo
God of Prompt
RT @godofprompt: Prompt engineering is dead.
"Prompt chaining" is the new meta.
Break one complex prompt into 5 simple prompts that feed into each other.
I tested this for 30 days. Output quality jumped 67%.
Here's how to do it ↓ https://t.co/K3r7wrcJw7
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RT @godofprompt: Prompt engineering is dead.
"Prompt chaining" is the new meta.
Break one complex prompt into 5 simple prompts that feed into each other.
I tested this for 30 days. Output quality jumped 67%.
Here's how to do it ↓ https://t.co/K3r7wrcJw7
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Offshore
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Michael Fritzell (Asian Century Stocks)
The Nikkei 225's forward P/E ratio is now 24.9x, above the 2006 peak https://t.co/MeqyEEeo5z
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The Nikkei 225's forward P/E ratio is now 24.9x, above the 2006 peak https://t.co/MeqyEEeo5z
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Offshore
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Illiquid
Often we post about companies and people clap back with comments about how its not undiscovered, already up 130%, already written up, etc.
What you don't see are the DMs from people managing money, with years of experience investing in the country, who have just discovered the stock. This was the case with Seikoh Giken and CQME.
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Often we post about companies and people clap back with comments about how its not undiscovered, already up 130%, already written up, etc.
What you don't see are the DMs from people managing money, with years of experience investing in the country, who have just discovered the stock. This was the case with Seikoh Giken and CQME.
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Offshore
Photo
The Transcript
Thursday's earnings
Before Open: $NBIS $BN $HWM $MLCO $ZTS $AEP $BUD $PCG $TU $BIRK $CROX $ZBRA $H $CHKP $HIMX $TRIP
After Close: $COIN $ANET $PINS $TOST $FROG $AMAT $DKNG $EXPE $BROS $ABNB $TWLO $AEM https://t.co/MymxWGs8gl
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Thursday's earnings
Before Open: $NBIS $BN $HWM $MLCO $ZTS $AEP $BUD $PCG $TU $BIRK $CROX $ZBRA $H $CHKP $HIMX $TRIP
After Close: $COIN $ANET $PINS $TOST $FROG $AMAT $DKNG $EXPE $BROS $ABNB $TWLO $AEM https://t.co/MymxWGs8gl
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Offshore
Video
Brady Long
Wait so now I don’t need to read HR’s emails when they accuse me of drinking on the job? This tool will just respond for me?
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Wait so now I don’t need to read HR’s emails when they accuse me of drinking on the job? This tool will just respond for me?
Most email AI sounds smart, until you actually hit send. Revo fixes that.
We spent years building an AI that actually understands your business, your meetings, Slack, CRM, tickets, and past conversations.
Instead of guessing and hallucinating, Revo drafts replies grounded in real context. It learns your business and gets smarter every day.
Open your inbox. Accurate, ready-to-send drafts are already there.
If email is a big part of your day, I'd love for you to check it out and share your feedback.
Try it free: https://t.co/13llsR8BmL tweet
Offshore
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Michael Fritzell (Asian Century Stocks)
Moatless Capital is bullish Pop Mart 9992 HK. Let's see how that works out for him. https://t.co/Uvnbb3EgKB
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Moatless Capital is bullish Pop Mart 9992 HK. Let's see how that works out for him. https://t.co/Uvnbb3EgKB
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Offshore
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Michael Fritzell (Asian Century Stocks)
RT @10_ch_10: I have begun averaging into Nintendo at these levels. It took a while for the stock to reach the point where a long-term position (~2 years) started to make sense. The whole run-up to the Switch 2 release has been deleted whilst the JPY has plummeted; it’s down ~50% from the lofty highs measured in SEK. $NTDOY $7974.JP
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RT @10_ch_10: I have begun averaging into Nintendo at these levels. It took a while for the stock to reach the point where a long-term position (~2 years) started to make sense. The whole run-up to the Switch 2 release has been deleted whilst the JPY has plummeted; it’s down ~50% from the lofty highs measured in SEK. $NTDOY $7974.JP
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Offshore
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Michael Fritzell (Asian Century Stocks)
RT @NickCortellucci: Notebook LLM is insane. Look at this summary of our thesis in $DWS.V https://t.co/syDk5DaiIp
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RT @NickCortellucci: Notebook LLM is insane. Look at this summary of our thesis in $DWS.V https://t.co/syDk5DaiIp
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Clark Square Capital
RT @dalibali2: True bottom fishing off my top of my head - what else is missing?
Zenv - 2x EBITDA (if you dont count the earn-out liability)
Expensify - 2-3x EBITDA
SSTI - 4x EBITDA
TDOC - 4x EBITDA
FRSH - 6x EBITDA
Adobe - 8x EBITDA
WDAY/CRM - ~9x EBITDA
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RT @dalibali2: True bottom fishing off my top of my head - what else is missing?
Zenv - 2x EBITDA (if you dont count the earn-out liability)
Expensify - 2-3x EBITDA
SSTI - 4x EBITDA
TDOC - 4x EBITDA
FRSH - 6x EBITDA
Adobe - 8x EBITDA
WDAY/CRM - ~9x EBITDA
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Jukan
Micron Actively Refutes HBM4 Disqualification Rumors
[Samsung Securities Semiconductor, IT / Jong-wook Lee]
Micron held a conference call to address the HBM4 disqualification controversy, and its stock rose 10%.
How should we interpret this?
1. What Micron Said
1.Guidance: Noted that DRAM price increases will drive results above what was indicated at the December 2025 earnings call. No specific figures provided.
2. DRAM market: Some customers are receiving only 50–66% of requested volumes. HBM is sold out. LTA (long-term agreement) commitments expanding. Inventory levels are very lean.
3. AI technology: AI demand is driving an increasing share of HBM and high-performance LPDDR. Hyperscaler capex is expected to reach $800 billion. CY26 server demand growth in the mid-teens percent (maintaining prior guidance).
4. HBM4: HBM4 shipments have begun — one quarter ahead of prior guidance.
5. NAND: Gaining NAND market share in both TLC and QLC.
6. New capacity additions: Idaho (ID1) to come online mid-2027, Taiwan Taoyuan (P5) by end of 2027, Singapore NAND fab in 2H 2028.
7.HBM’s capacity cannibalization effect: As HBM generations advance, wafer cannibalization intensifies, exacerbating memory supply shortages.
2. Implications of Micron’s Comments
1.HBM4: Micron aggressively countered market rumors of HBM4 disqualification by using the phrase “shipments have begun.” However, we still believe Micron’s shipments are limited to lower tranches with modest volumes, and its market share will decline year-over-year. Starting with HBM4E, Micron’s competitiveness could recover as it adopts foundry-based base dies. The equity market appears largely indifferent to the HBM competitive dynamics.
2. Bullish market outlook: Profits ultimately come from the commodity business. The company officially flagged DRAM price increases and strong earnings, and the market is cheering robust demand and consecutive earnings surprises.
3. Timing of the supply inflection point: Micron’s investments will not impact supply until mid-2027. Until then, the company has limited strategic options to address high-end, AI-driven demand.
3. Our View
1.We are currently passing through the most favorable risk-reward phase of the memory cycle. We define the inflection point as the moment when the rate of investment growth exceeds the rate of earnings growth, which we expect to occur after 2027.
2. In the near term, caution is warranted around 3Q as the pace of DRAM price increases decelerates. However, given the durability of earnings, any correction is likely to be temporary.
Thank you.
(Published 2/12/2026)
$MU
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Micron Actively Refutes HBM4 Disqualification Rumors
[Samsung Securities Semiconductor, IT / Jong-wook Lee]
Micron held a conference call to address the HBM4 disqualification controversy, and its stock rose 10%.
How should we interpret this?
1. What Micron Said
1.Guidance: Noted that DRAM price increases will drive results above what was indicated at the December 2025 earnings call. No specific figures provided.
2. DRAM market: Some customers are receiving only 50–66% of requested volumes. HBM is sold out. LTA (long-term agreement) commitments expanding. Inventory levels are very lean.
3. AI technology: AI demand is driving an increasing share of HBM and high-performance LPDDR. Hyperscaler capex is expected to reach $800 billion. CY26 server demand growth in the mid-teens percent (maintaining prior guidance).
4. HBM4: HBM4 shipments have begun — one quarter ahead of prior guidance.
5. NAND: Gaining NAND market share in both TLC and QLC.
6. New capacity additions: Idaho (ID1) to come online mid-2027, Taiwan Taoyuan (P5) by end of 2027, Singapore NAND fab in 2H 2028.
7.HBM’s capacity cannibalization effect: As HBM generations advance, wafer cannibalization intensifies, exacerbating memory supply shortages.
2. Implications of Micron’s Comments
1.HBM4: Micron aggressively countered market rumors of HBM4 disqualification by using the phrase “shipments have begun.” However, we still believe Micron’s shipments are limited to lower tranches with modest volumes, and its market share will decline year-over-year. Starting with HBM4E, Micron’s competitiveness could recover as it adopts foundry-based base dies. The equity market appears largely indifferent to the HBM competitive dynamics.
2. Bullish market outlook: Profits ultimately come from the commodity business. The company officially flagged DRAM price increases and strong earnings, and the market is cheering robust demand and consecutive earnings surprises.
3. Timing of the supply inflection point: Micron’s investments will not impact supply until mid-2027. Until then, the company has limited strategic options to address high-end, AI-driven demand.
3. Our View
1.We are currently passing through the most favorable risk-reward phase of the memory cycle. We define the inflection point as the moment when the rate of investment growth exceeds the rate of earnings growth, which we expect to occur after 2027.
2. In the near term, caution is warranted around 3Q as the pace of DRAM price increases decelerates. However, given the durability of earnings, any correction is likely to be temporary.
Thank you.
(Published 2/12/2026)
$MU
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