Pinned Tweet
Prof Damodoran, a noted expert on corporate valuation, just updated his data through '22. An article and chart on his site shows how FCF (either FCFF or FCFE) SHOULD be calculated. I have calculated it similarly for decades, since well before E&P mgts bast***ized the defn
1/n
"Stealing" is too harsh and inflammatory
Theologians Confirm 'Thou Shalt Not Steal' Doesn't Apply To Your Kids' Halloween Candy buff.ly/LS99Yys
RAWenergy retweeted
Joe Rogan: “It was the Iran decision that fucked everything. Even the ICE stuff, most people in this country don’t like the idea of a militarized police force with no identification just pulling people over. It opens up a world of problems. It sets terrible precedents. This is what people that are pro-ICE don’t seem to understand, they could use that in another way. Now we’ve set a precedent, you’re allowed to have a militarized police force with masks on and they don’t have any identification and they’re snatching up people and some of them happen to be American citizens”
RAWenergy retweeted
President Trump needs to resist the allure of the gambler’s fallacy as it relates to the Iran War.
“One more push” that looks to strike power stations, bridges, roads, and rail lines may sound like a good strategy to accelerate the collapse of the Iranian economy and society, but the truth is that it will only further galvanize the population around the regime.
With Iran retaining significant military capabilities and escalation pathways, the only way for this war to end is for President Trump to make the necessary concessions to Iran on the American end, declare a historic victory to his MAGA base, and get back to prioritizing what is best for the AMERICAN people. It is the only way.
RAWenergy retweeted
BREAKING: Ukraine has just struck Russia's Kstovo oil refinery, setting it ablaze with massive fires.
Kstovo is Russia's 4th-largest refinery, processing 17 million tonnes of crude oil a year.
It is the third Russian refinery struck in three days.
RAWenergy retweeted
My wife asked what scares me the most about Halloween.
I told her there’s really only one thing.
She asked, “Which is?”
I replied, “Exactly.”
RAWenergy retweeted
NEW: Statements from Mohsen Rezaee just moments ago underscore the increasingly aligned views of nearly all factions within Iran:
We’re not budging. Either abide by our seven core demands, or let’s get it on.
Even more diplomatically-inclined figures such as Ghalibaf and Araghchi are mirroring this same position.
Iran isn’t bending. More economic warfare isn’t going to make them bend. More bombing won’t make them bend.
There is no solution for the United States besides making the necessary concessions to end the war.
RAWenergy retweeted
Breaking🚨;
🇺🇸 US Trade Rep: "We are slapping a 100% tariff on all Brazilian agricultural goods until you sign our global climate pact!"
🇧🇷 Brazilian President: "Effective tonight: Brazil stops all exports of soy, beef, and green coffee to North America. Zero shipments."
🇺🇸 US Trade Rep: "You are spiking food inflation across our entire nation! You are starving our supply chains! This is economic warfare!"
🇧🇷 Brazilian President: "You exploit our resources, dictate our policies, and call our rainforest your carbon sink. Feed your livestock with your climate pacts." 🔥👏
🇺🇸 US Trade Rep: "We will freeze every dollar account and sanction your Central Bank into oblivion!"
🇧🇷 Brazilian President: "To enforce financial sanctions, your populace needs to be fed and calm. Good luck explaining $15 coffee and empty meat aisles to your voters."
RAWenergy retweeted
Don't forget.
I hate #StandardTime
RAWenergy retweeted
NEW ANALYSIS: While there is significant ongoing argument about whether or not the United States should return to war, the primary REASON some of the supporters of the U.S. economic warfare strategy (including Bessent) believe we should return to military action is due to the overwhelming Iranian retaliation that would follow.
If you believe that Iran retains the ability to devastate the global economy in a return to kinetic warfare…
Why would you POSSIBLY believe that Iran will just stand idly by and let the United States attempt to devastate the Iranian economy?
If the blockade “works”, Iran escalates and we lose.
If the blockade fails… we also lose.
This is insanity. It’s time for President Trump to put AMERICA first and bring about an end to this disastrous war.
My latest analysis in @MeidasTouch is now LIVE.
Trump has a BIG problem with Iran. His advisers fear renewed military strikes could trigger a devastating Iranian response.
But their alternative, intensifying economic warfare, carries a major risk of its own.
There's one question the administration STILL can't answer. New @BrettErickson28. meidasnews.com/news/the-argu…
RAWenergy retweeted
IRAN WAR ANALYSIS: In my mind, the greatest challenge to any potential U.S./Iran peace deal is the issue of up front asset unfreezing.
In order for Iran to POSSIBLY justify a publicly announced peace deal with the United States, potentially saving President Trump, before the midterms, Iran would need to secure an enormous amount of their frozen assets.
This is due to the obvious reality that immediately following the midterms, Trump can always renege on a deal as he did under the MOU and go right back to blasting.
In order for Iran to sufficiently de-risk from this possibility, they would need to significantly unwind the economic pain that they have been dealt throughout the war, thus cementing shut this avenue as an even remotely viable strategy for the United States.
This would therefore leave only TRULY military options available to Trump, which is something that it seems he is extremely averse to employing as a primary strategy in this war.
But in order for this to be a justifiable course of action for Iran, we would not be talking about $2B, $12B, or likely even $24B
We’d be talking about the whole kit and caboodle… or at least a very hefty portion of the roughly ~$120B of frozen assets that they have locked out of their reach due to US sanctions.
Unfortunately for the U.S. and global economy, anything short of legitimately irreversible concessions that are extremely significant in value would be woefully insufficient for the increasingly hardline leadership in Iran to take on “faith” that Donald Trump would stick to his word unlike the June MOU.
This… seems unlikely.
But it is still the RIGHT decision for President Trump to pursue. There is no other realistic option at this point.
Walk away and declare victory. Make the necessary concessions to reopen the Strait.
Spare the world and the American people from economic catastrophe.
RAWenergy retweeted
According to Axios, no agreement has been reached on resuming direct U.S.-Iran negotiations, and no date has been set for the arrival of an American delegation in Doha.
A breakthrough has been reached in U.S.-Iran negotiations following Qatari-led mediation, Al-Araby Al-Jadeed reports, citing sources familiar with the talks.
A U.S. delegation is expected to join Iranian negotiators in Doha for direct talks after preliminary understandings were reached on Iran's nuclear program, navigation through the Strait of Hormuz and financial incentives for Iran, with China and Russia expected to serve as guarantors of a potential agreement.
RAWenergy retweeted
Yes.
America’s “Least Bad Option” in Iran Is Wishful Thinking
The fundamental problem with this argument is that it assumes the current status quo can be sustained indefinitely. It cannot.
First, there is little reason to believe that Iran’s leadership will eventually surrender to economic pressure. The assumption that mounting economic hardship will force Tehran to accept Washington’s demands fundamentally misunderstands how the Iranian system operates. The leadership has repeatedly demonstrated that it is willing to absorb enormous economic costs rather than make concessions it considers a threat to the regime’s survival.
Second, President Trump does not have unlimited time or patience. Maintaining the maritime blockade comes at an enormous financial and military cost, while high oil prices are already hurting the American economy. How long can Washington realistically sustain this strategy without achieving its political objectives?
Third, the assumption that time necessarily works in America's favor is deeply questionable. Iran is not standing still. The longer the confrontation continues, the greater the incentive for Tehran to rebuild its military capabilities and potentially accelerate its nuclear program. Economic pressure does not eliminate these threats and may actually strengthen the Iranian leadership's determination to acquire a nuclear deterrent.
Finally, a prolonged blockade is not a stable alternative to war. It is an inherently fragile situation in which both sides face growing pressure to escalate. The risk of miscalculation increases with time, particularly when neither side is willing to compromise on its fundamental demands.
The central flaw in the article is the belief that economic pressure will eventually produce the political concessions that military force has failed to achieve. That is wishful thinking, not a strategy.
The blockade may be working economically, but that does not mean it is succeeding strategically. Unless Washington develops a realistic diplomatic path that acknowledges Iran's red lines, it risks finding itself trapped between an increasingly expensive blockade and another war that is unlikely to produce Iranian capitulation.
#Iran
#IranWar
@RANDCorporation
RAWenergy retweeted
Chart of the Week: Bond investors may cheer gridlock ft.trib.al/54HByUv | opinion
RAWenergy retweeted
ימים קריטיים במזרח התיכון: גם איראן מעלה את ההימור
איראן תורמת את חלקה להעלאת סכום ההימור במה שמתרחש כעת בחדרי המשא ומתן ומחוצה להם ולראיה ההנחיות של מג'תבא לבכירים האיראנים.
ברור שכישלון המשא ומתן עלול להוביל להסלמה רחבה, ולמרות רצונו של הממשל האמריקני לקצר את המערכה הבאה, ההנחיות של מוג'תבא מחדדות את מה שהיה ברור כבר מזמן: איראן לא תיכנע ולא תבליג.
טהראן נערכת להגיב בעוצמה למתקפה אמריקנית־ישראלית, שעל פי ההערכות צפויה להיות רחבה ואלימה במיוחד. יתרה מכך, נראה שהאיראנים מבקשים להרחיב את בנק המטרות שלהם ולכלול בו נכסים שלא הותקפו במערכות הקודמות, ובהם תשתיות תקשורת ונכסים אסטרטגיים נוספים במדינות המפרץ. המשמעות היא שהמערכה הבאה, אם תפרוץ, עלולה להיות רחבה, ממושכת וקשה הרבה יותר מכפי שמקווים בוושינגטון.
הימים הקרובים במסדרונות המשא ומתן בקטר ובטהראן, ואולי בקרוב גם בטורקיה, עשויים לקבוע אם המזרח התיכון צועד לעבר הסלמה שכמעט לא ניתן יהיה לשלוט בה, או שהצדדים יצליחו להגיע להסכם שימנע אותה.
באופן עקרוני, שני הצדדים היו מעדיפים להגיע להסכם ולהימנע ממלחמה נוספת. אלא שהפערים ביניהם, מסוגיית מצר הורמוז ועד לתוכנית הגרעין האיראנית, נותרו עמוקים, ולא ברור כיצד ניתן לגשר עליהם מבלי שאחד הצדדים יידרש לוויתורים משמעותיים.
זה בדיוק הזמן של המתווכות להציג פתרונות יצירתיים, ובעיקר לגבש מנגנון מוסכם ליישום ההבנות ולמתן ערבויות שיבטיחו את קיומן. ללא מנגנון כזה, גם אם יושגו הבנות עקרוניות, יהיה קשה מאוד לתרגם אותן להסכם יציב.
השורה התחתונה היא שהזמן הולך ואוזל. שני הצדדים מבינים את מחיר הכישלון, אך עדיין מתקשים למצוא את הדרך לפשרה. ואם המשא ומתן יקרוס, אסור להניח שהמלחמה הבאה תהיה קצרה או שניתן יהיה לשלוט בהיקפה.
ימים קריטיים לפנינו.
המנהיג העליון מוג'תבא ח'אמנאי נפגש עם המפקדים הבכירים של הכוחות המזויינים של הרפובליקה האיסלאמית, והציג בפניהם את הנחיותיו האסטרטגיות אל מול כל איום אפשרי מצד האויב: "תגובה מידית, עוצמתית, וללא גבולות גיאוגרפיים". בפגישה שהתקיימה היום בין מוג'תבא לבין הפיקוד הבכיר של הכוחות המזויינים של איראן, ודווחה בתקשורת הממסדית האיראנית, נמסר כי המנהיג העליון מסר כי"מוכנות לחימתית חכמה היא דבר הכרחי עבור הרתעה מקסימלית" והורה שכל איום צריך להיענות בתגובה מיידית ועוצמתית וללא גבולות גיאוגרפיים". לדבריו אם האויבים של הרפובליקה האיסלאמית יחליטו לתקוף, אלו יהיו האיראנים שיחליטו את הזמן והתנאים לסיום הלחימה.* מוג'תבא הורה גם לחזק את מבנה גופי המודיעין הצבאיים, להעמיק את ההגנה המקומית (כנראה כוחות מקומיים), גם מבחינת דוקטרינת הלחימה וגם מבחינת הטקטיקה, לעשות שימוש בטכנולוגיות מתקדמות ולחזק את הרוח המהפכנית והמוראלית. מוג'תבא הורה גם על עדכון 'בנק המטרות' שיכלול את כל הנכסים 'החומריים והלא חומריים' של האויב האמריקני-ציוני, שנמצאים בהישג ידי הכוחות המזוינים. @OmerShahar123
RAWenergy retweeted
Iran has attacked 5 vessels, including supertankers, in a single day in the Strait of Hormuz.
The vessels were carrying millions of barrels of crude oil.
The attacks come as pressure mounts on the Trump administration ahead of the US midterm elections.
Iran is attaching limpet mines directly to vessels using small speedboats, allowing the attacks to be carried out without relying on radar.
RAWenergy retweeted
The US invites Lavrov to the G20, but doesn't invite Ukraine. The photo op falls apart because the European ministers predictably refuse to stand next to Lavrov.
The US pressures the Baltic states to allow Belarusian potash to be transferred through their ports, when perfectly good potash is available from Canada, our erstwhile ally and immediate neighbor.
The president's envoys tell Ukraine it should be grateful, because they're spending so much money on private jet fuel.
Elbridge Colby tells the Europeans to tone down their rhetoric against Russia, currently waging a war of annihilation on their continent.
The president strikes a deal with Putin to bring Russian diesel to the United States, which US ports and energy companies apparently don't want to touch, because it's illegal.
The president "mulls" waiving sanctions on Russia's sovereign wealth fund, a tool to fund Russia's multi-front war against Ukraine and Europe.
Kirill Dmitriev, a sanctioned oligarch, travels back and forth to the United States openly, as he pleases, and meets with the president's son-in-law and crony.
Marco Rubio announces a suspension of funding for Ukraine under a preexisting support mechanism, and attempts to divide the same funding among several Latin American countries at levels below the congressional reporting threshold.
Et cetera.
BREAKING: The U.S. cancels plans for a photo with top G20 diplomats after Europeans objected to standing beside Russia, AP sources say. apnews.com/article/g20-rubio…


























