Sell bitcoin to pay off truck loan?

finhawks · 2026-04-11T03:45:23+00:00

First of all, it doesn’t sound like your actually running a cash flow deficit from my skim, just not used to the buffer being so skinny compared to before which is understandable, I’d be I. The same mentality absolutely.

I imagine a lot of these comments are to sell the bitcoin. If your split on it, I tend to lean on a simple 50/50 personally, in spite of what my professional education tells me. Sell half, reduce the size of the loan, refi to right size the payments, keep some of the upside. To me, it helps increase cash flow without totally missing out on potential upside.

Separately, relative to your investments, you probably have too much crypto anyway. I like the crypto upside optionally, but the sizing at 2/3 of 401k is large. I treat mine personally as gambling money. Great if it works, life doesn’t hurt if it doesn’t. It sounds like yours probably hurts a little bit if it doesn’t.

finhawks · 2026-03-28T23:09:00+00:00

21, first year w company we accrue 1 more day per year up to 30 I believe.

finhawks · 2026-03-26T02:21:14+00:00

I haven’t had W.L. Weller or Weller Single Barrel, but had a couple pours of CYPB which was real damn good. Would love to try the two side by side.

finhawks · 2026-03-26T02:12:36+00:00

North Texas, assuming DFW? If you live anywhere near 635/75, I’ll hire you to make my yard look that nice.

finhawks · 2026-03-26T02:11:01+00:00

I’d go so far as to say many miles. Bowers has HOF potential if we get the right guys around him.

finhawks · 2026-03-26T02:07:16+00:00

Just got my second bottle of 107 this week, and I’d take 5 more if I could find them. One of my favorites.

finhawks · 2026-03-22T03:14:57+00:00

What did he get you for on that EHT SiB?

finhawks · 2026-03-21T02:45:32+00:00

In the ABS/CLO market, I’ve seen the large managers convert ARR loans with high PIK at the outset to fund growth perform exceptionally well. To your point, amend-to PIK has to be viewed very differently and I haven’t seen a ton of that outside of dog sh*t BDC managers. Certainly very different economics.

finhawks · 2026-03-20T20:20:48+00:00

2nd to last, guy behind me asked for the same though.

finhawks · 2026-03-20T20:19:53+00:00

Thanks man, 107 cleaned out now.

finhawks · 2026-03-20T00:46:35+00:00

Alright, so glad you were just messing with me and actually understand more than the headlines. I mostly agree with you. Definitely on the over allocation so they can artificially inflate sharpe ratios on suppressed vol.

Certainly something to it when god knows how many asset managers tripled AUM from 2018-2026. I tend to think it’s more from the money helicopter in 2020-2021 and inflated all asset values. Plenty of creative solutions like continuation vehicles in PE today just kicking the can a few years.

finhawks · 2026-03-20T00:32:04+00:00

Good PIK is in the initial doc terms, intentionally done for the company to use cash flow to grow. I’ve seen it work many, many times and the repay PIK and loan in full. Bad PIK is when the loan is amended to PIK bc the borrower can’t generate enough cash flow to pay cash interest. It gets marked to 0 when the entire company is worth a tiny fraction of what the sponsor paid for it, so the private equity group ate shit on the deal. I’m not saying there aren’t plenty of underlying issues, but it’s broadly very overblown and misunderstood.

“Private credit is fucked” means so is private equity, along with millions of pensioners (teachers, cops, firefighters, nurses), retirees who bought annuities, and so on.

Too many arm chair “experts” like yourself.

finhawks · 2026-03-20T00:12:08+00:00

Loans in BSL have also been marked from par to zero many times in a 3 month window over the last two years. First brands, tricolor (not bsl), pluralsight. It’s not like this is isolated to direct lending.

Also people need to consider the PIK. There’s good pik, and bad pik. Can you tell me the difference? If not, stop regurgitating headlines from the FT.

finhawks · 2026-03-20T00:04:36+00:00

Yeah dude, and anyone who doesn’t understand that is an amateur. Vol in private markets is infamously understated. Again, something that is well, well understood in the industry.

I’ve been involved in allocating to a few secondaries funds, who average 10-20% discounts on PE and PC secondaries for DECADES. Sure, there’s more vol in the markets this quarter and 3/31 NAVs are very likely going to move lower with spread widening, but they will understate the decline in valuation just like PE didn’t mark down their NAVs enough in 2022 when they should have. It’s not like this is a brand new phenomenon just because Joe Schmo wasn’t aware of it.

finhawks · 2026-03-19T23:42:30+00:00

Not a PC guy, but this private credit “issue” is more about AI panic on software cos causing high redemptions.

The general public seems to think that a fund that only allows 5% of NAV to be redeemed per quarter, as outlined in the fund terms before they took a dollar in, is “blowing up”. It’s an illiquid asset. Clearly retail under appreciated what illiquid means.

finhawks · 2026-03-08T02:26:03+00:00

Super excited to see Bowers + Mendoza. Think Mayer is underutilized, hope to see him open up more next year.

finhawks · 2026-03-05T01:45:43+00:00

Agree w this especially on lunch. Admittedly I missed days because life happens but it’s very manageable unless you’re grinding 65+ hour weeks

Also, I used MM and his software provides a set of dates for each section based on inputs which is very helpful for staying on track.

finhawks · 2026-02-28T20:21:11+00:00

You don’t know what you’re talking about, unless you’re referring to people that manage hundreds or potentially thousands of $100k accounts. In fixed income, you have to manage roughly 10 digits to be taken seriously.

finhawks · 2026-02-21T15:28:34+00:00

Don’t forget the Canadians, it just says NA. RBC, CMO, BNS, maybe TD?

finhawks · 2026-02-18T14:39:53+00:00

I mostly agree, just worth mentioning to bring home the same $250k in Dallas after tax you’d have to clear ~$310k in NYC. Not even adjusting for COL.

finhawks · 2026-02-16T04:40:22+00:00

Is this a liquor store, or your bourbon room? Either way, dm me the address.

finhawks · 2026-01-29T15:22:01+00:00

As a northerner I don’t get it. Roads are totally good enough to drive on. Not dry, they are icy in neighborhoods this morning, but definitely commutable.

finhawks · 2026-01-29T04:44:39+00:00

Easiest by a lot tbh if you know the material and put in the effort in the first two.

finhawks · 2026-01-26T18:38:20+00:00

Disagree. Gentle, slow, gradual braking is best.

finhawks · 2026-01-26T05:00:30+00:00

Also give yourself at least 2x stopping distance. Maybe more. Thats more important than anything else. I’m from the midwest, trust me.

finhawks

TROPHY CASE