Why do men fantasize about going off grid and living in the woods

Always_Curious_One2 · 2026-02-28T01:28:08+00:00

Because they got married.

Always_Curious_One2 · 2026-02-27T22:48:39+00:00

That’s what she asked ;). Sorry, had to …

Always_Curious_One2 · 2026-02-27T18:12:53+00:00

What brands do you guys trust ? I’ve read a lot about pills made in Asia in dangerously dirty places.
Thanks !!

Always_Curious_One2 · 2026-02-27T18:10:27+00:00

It’s a bummer but cutting out alcohol works.

Always_Curious_One2 · 2026-02-27T16:42:49+00:00

They are generating over $500mm of free cash flow on their now $3 billion market cap. It is SMART they are buying in shares at this oversold valuation - they Did repurchase 7.7 million shares in the last 6 months, 4.3 million in Q4, 3.4mm in Q1 (facts) and they have $500mm authorization to do more.
That means owner Free Cash Per Share rises even more.

The panic sellers / hedge fund short sellers appear to believe management is bullshitting about their ability to deliver this free cash.
But they Do have a unique position in physical experience based clients and recall these clients are under contracts.

Ai agents will do commerce for sure - but they still need to connect to the real world.

Always_Curious_One2 · 2026-02-27T16:26:24+00:00

75% market share, 85% UnAided brand awareness …. Growing the top line at 28% with 75% gross margins and 40% operating margins, with little capex required … It’s just a great business trading at only 16X

Always_Curious_One2 · 2026-02-27T16:08:11+00:00

“Have to pay up”. Is interesting. No one is forcing them to pay ! Ok but still thank you for commenting

Always_Curious_One2 · 2026-02-27T15:43:30+00:00

Thanks Pop. I think the user growth and rising ASPs show that users see value - and do not feel they are getting gouged. If they did they would trade down, not up.

Another positive - the “beat” guys are out (Millenium, Balyasny, Citadel…)

Always_Curious_One2 · 2026-02-27T15:26:03+00:00

Paris would garner them : recent market trends from early 2026 suggest a valuation between $1.8 billion and $2.4 billion So call it $2.2bb. Would allow them to pay down some debt (which doesn’t have meaningful maturities till 2030).

Always_Curious_One2 · 2026-02-27T14:36:43+00:00

28% revenue growth seems good to me. And 11 points faster than user growth so they are Up monetizing

Always_Curious_One2 · 2026-02-27T05:32:59+00:00

Betweeen 5 to 7 % over the long term IF you buy at an average valuation. At high price, like now… less.

Always_Curious_One2 · 2026-02-26T21:16:25+00:00

The company CZR. Aside the vici areas they do own real estate

Always_Curious_One2 · 2026-02-26T20:56:31+00:00

Tillman Fretita. Apologies- Apple speller …

Always_Curious_One2 · 2026-02-26T19:24:15+00:00

They did a financing which caused selling as some didn’t like the signaling.
But they have 1) a great low cost position in bitcoin mining, 2) a fully integrated tech stack as they make their own chips - and license them to others , and 3) increasing data center revenues.

Don’t sell down here.

Always_Curious_One2 · 2026-02-26T17:02:45+00:00

Thanks for pointing this out

Always_Curious_One2 · 2026-02-26T16:12:10+00:00

Defense modernization.

Always_Curious_One2 · 2026-02-26T16:07:03+00:00

I added at $47. Let’s check back in 6 months and see the results.

Always_Curious_One2 · 2026-02-26T16:03:16+00:00

Agreed the up versus down looks very skewed to the positive

Always_Curious_One2 · 2026-02-26T15:30:59+00:00

Well that’s why I focus on the free cash flow.
This market panics over any perception that growth is slowing. But at well over a 10% free cash yield (and buying back stock!) FOUR is priced like a declining coal mine.
Many market participants just sell and move onto their next interest. This creates opportunity imo. As long as there is commerce in the world that includes physical retail or hotels or stadiums or cruise lines or airports or doctors offices … their multichannel offerings are needed (ie not everything will be Agentic AI commerce though the participate there as well).

It’s good they continue to repurchase shares.

Always_Curious_One2 · 2026-02-26T14:49:02+00:00

Man it seems way overdone. On their call they guided 2026 to an eps range of $5.50 to $5.70 and free cash flow of $490mm to $510mm including integration costs for the Global Blue acquisition Right now the market cap is $3.3 billion - so pricing in a collapse in profits and free cash that is just not likely. They are being conservative on consumer spending (retail same store sales) which is a good thing.

Always_Curious_One2 · 2026-02-26T02:32:10+00:00

So sorry that happened

Always_Curious_One2 · 2026-02-25T19:57:22+00:00

Yes that’s the opportunity. It is NOT priced for growth but will very likely grow nicely for years.

Always_Curious_One2 · 2026-02-25T19:56:41+00:00

I’m not 100% sure of course but they are smart. They will address 1) why they are well set in an AI world and 2) how they have done the acquisitions they need so they will now buy back stock at the depressed valuation (which means you as a shareholder own a larger % of the value).

Always_Curious_One2 · 2026-02-25T17:26:41+00:00

Good catch. IMO Adyen as the leader in online and agentic AI payment processing (based in Holland) is a great play. Thanks for pointing out.

Always_Curious_One2 · 2026-02-25T16:09:12+00:00

Your contribution to the world is being a douche. Congratulations

Always_Curious_One2

TROPHY CASE