iiinova — where your digital self keeps evolving

Blind Squirrel Macro @blindsquirrel.bsky.social · 29/09/2026

now let's apply some multiples for a laugh... 4/6

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Blind Squirrel Macro @blindsquirrel.bsky.social · 29/09/2026

what does that look like in numbers? 3/6

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Blind Squirrel Macro @blindsquirrel.bsky.social · 29/09/2026

The 🐿️ does not believe that a PARMAP™ - ‘Pick a Revenue Multiple and Pray’ - approach to valuing the foundation model companies is going to get OpenAI and Anthropic public. So lets think through some scenarios 2/6

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Blind Squirrel Macro @blindsquirrel.bsky.social · 29/09/2026

With the S-1 now leaked, I guess it's time to revisit some 🐿️ valuation maff on Anthropic from 2 months ago. Full report unlocked in final comment. 1/6

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Blind Squirrel Macro @blindsquirrel.bsky.social · 19/09/2026

Is it too early to step back into energy shock disrupted ASEAN markets? New report out at 7.30am EST on Saturday via www.blindsquirrelmac...

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Blind Squirrel Macro @blindsquirrel.bsky.social · 15/09/2026

The 🐿️ is lining up with Benny the Bond Bull @BenBrey www.bennysquirrel.tv

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Blind Squirrel Macro @blindsquirrel.bsky.social · 15/09/2026

Are we lining up for 'The Death Shot' on Wednesday? @BenBrey www.bennysquirrel.tv

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Blind Squirrel Macro @blindsquirrel.bsky.social · 14/09/2026

The 🐿️'s 'Start the Week' note will be in inboxes at 6.30am EST. A change in tune. Requiring special PPE!

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Blind Squirrel Macro @blindsquirrel.bsky.social · 12/09/2026

Latest 🐿️ note will be out at 7.30am EST on Saturday. Make sure you are on the list at www.blindsquirrelmac...

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Blind Squirrel Macro @blindsquirrel.bsky.social · 05/09/2026

This week, resources! The 🐿️'s "20-for-20" Portfolio journey continues at 7am EST on Saturday. Make sure you get the note via www.blindsquirrelmac...

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Blind Squirrel Macro @blindsquirrel.bsky.social · 29/08/2026

This week we kick off Phase 2 of the '20-for-20' project - with financials! Does a potent cocktail of personal finance bots and financial repression prove to be too much to allow banks to be solid compounders? If so, where do we hide? Out at 7.30am EST on Saturday via www.blindsquirrelmac...

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Blind Squirrel Macro @blindsquirrel.bsky.social · 23/08/2026

...and Spotify open.spotify.com/epi... 3/3

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Blind Squirrel Macro @blindsquirrel.bsky.social · 23/08/2026

...Apple Pods podcasts.apple.com/u... 2/3

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Blind Squirrel Macro @blindsquirrel.bsky.social · 23/08/2026

This week's podcast is paywall free - on the 'stack open.substack.com/pu... 1/3

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Blind Squirrel Macro @blindsquirrel.bsky.social · 22/08/2026

This week's flagship note will be inboxes at 7.30am EST on Saturday. Not trying to overly ambitious - just trying to pick 20 stocks for 20 years... This one is for ALL subscribers (free and paid) but only if you are on the list at www.blindsquirrelmac... 1/3

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Blind Squirrel Macro @blindsquirrel.bsky.social · 15/08/2026

"All it took was a ticker change!" $VSXY @JeffMacke took his son lingerie shopping and the stock is up 80% - more from Jeff in full show (linked below) 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 15/08/2026

It's time to make amends. New piece out at 7.30am EST on Saturday via www.blindsquirrelmac...

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Blind Squirrel Macro @blindsquirrel.bsky.social · 15/08/2026

"Folk were getting mad over a drunken old man sitting next to a barrel of moonshine" $CBRL More gems from Macke in the full show (linked below) @BenBrey @JeffMacke 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 14/08/2026

"All it took was a ticker change!" $VSXY @JeffMacke took his son lingerie shopping and the stock is up 80% - more from Jeff in full show (linked below) 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 14/08/2026

"Folk were getting mad over a drunken old man sitting next to a barrel of moonshine" $CBRL More gems from Macke in the full show (linked below) @BenBrey @JeffMacke 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 14/08/2026

"It's a weird Wisconsin company that smells like mold - but the stock's on fire at the moment!" $KSS More gems from @JeffMacke via full show (link below) @BenBrey 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 10/08/2026

We're not worried about demand. Benny's mum already has Claude and Grok! (Link to full show in comments) @BenBrey 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 10/08/2026

Is "EBTIT" the new "Community-Adjusted EBITDA? (Link to full show in comments) @BenBrey 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 10/08/2026

The foundation models have REAL competition! (Link to full show in comments) @BenBrey 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 08/08/2026

The value of the 2 major foundation lab AI companies is the belief system that is propping up the entire AI capex boom. An investigation by the 🐿️ drops at 7.30am EST on Saturday at www.blindsquirrelmac...

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Blind Squirrel Macro @blindsquirrel.bsky.social · 01/08/2026

AI is macro. We have to deal with the impact of capex financing on inflation and the UST curve way before we get to find out whether or not a productivity miracle is upon us. More at 7.30pm EST Saturday via www.blindsquirrelmac...

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Blind Squirrel Macro @blindsquirrel.bsky.social · 01/08/2026

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Blind Squirrel Macro @blindsquirrel.bsky.social · 01/08/2026

When my friend Kev Muir - a long-time “bond Grizzly” - is sniffing an opportunity in long duration fixed (on the long side!) at the same time that Lacy Hunt - a four-decade bond bull - calls time on the trade of his career, the 🐿️ goes on high alert. It’s ‘disturbance in the Force’ time. 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 25/07/2026

Turkey was a regular (and favorite) destination for ‘Club Med’ - the secret name we gave to our intrepid corporate finance team covering the Casablanca to Beirut (a lot more fun in those days…) beat. To Istanbul we return, for the….. (note out at 7am EST on Sat). www.blindsquirrelmac... 2/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 25/07/2026

Being an investment banker in emerging markets in the mid-1990s had a lot to be said for it. Doing deals in a hot asset class and business trips to exotic places with limited mobile phone roaming and the hotel business center fax machine as the only link with accountability (i.e. the office). 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 21/07/2026

19th Century Britain lost 70% of its Railway stocks in a year!! Full show: youtu.be/mi4bOlBIjF8 @BenBrey

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Blind Squirrel Macro @blindsquirrel.bsky.social · 21/07/2026

It's always the 3rd owners of equity in major infrastructure that make the money. Can the same be said for boxes of GPUs?? Full show: youtu.be/mi4bOlBIjF8 @BenBrey

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Blind Squirrel Macro @blindsquirrel.bsky.social · 20/07/2026

Who is buying 'The Binface Bottom'? Full show: youtu.be/mi4bOlBIjF8 @BenBrey

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Blind Squirrel Macro @blindsquirrel.bsky.social · 18/07/2026

Feels like the perfect opportunity to re-underwrite our UK positions. This weekend's piece will hit inboxes at 7.30am EST on Saturday. www.blindsquirrelmac... 3/3

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Blind Squirrel Macro @blindsquirrel.bsky.social · 18/07/2026

UK assets have become the Millwall Football Club of global risk. To make matters worse, England lost against to arch foes Argentina in the semis. When the sell signals get this extreme, the 🐿️ is inclined to fade! 2/3

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Blind Squirrel Macro @blindsquirrel.bsky.social · 18/07/2026

Monday sees Andy “we’ve got to get beyond this thing of being in hock to the bond market” Burnham enter No. 10 unopposed. 3 weeks later, we get to see if the populist fever dream has hit an absurd and terminal climax in the form of Farage being vanquished in the Clacton by-election…by a bin. 1/3

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Blind Squirrel Macro @blindsquirrel.bsky.social · 11/07/2026

Private Credit: From sexy high growth ---> Risk Management Exercise Full show: youtu.be/wVPU4kyzp0Y... @BenBrey

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Blind Squirrel Macro @blindsquirrel.bsky.social · 10/07/2026

Charlie reckons that ECM/DCM/M&A revs have peaked @BenBrey Full show: youtu.be/wVPU4kyzp0Y...

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Blind Squirrel Macro @blindsquirrel.bsky.social · 10/07/2026

Do the media guys always spoil the party @BenBrey? Full show at: youtu.be/wVPU4kyzp0Y...

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Blind Squirrel Macro @blindsquirrel.bsky.social · 29/06/2026

The market is waking up to the fact that AI is fast becoming a commodity @BenBrey 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 29/06/2026

The Fed is trapped by the PE/PC/AI funding complex @BenBrey 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 26/06/2026

Avoid lazy analogies ("the Amazon of", "the Google of") in China tech. @benbrey 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 26/06/2026

Can China leapfrog the West in chip technology? The ICE / EV analog. @benbrey 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 26/06/2026

Why AI might finally unlock B2B in China @BenBrey 1/2

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Blind Squirrel Macro @blindsquirrel.bsky.social · 23/06/2026

The UK is eyeing up it 6th PM in a decade. Brexit was an act of economic self-harm sold by charlatans. Populists never have answers. Follow the money. Always. Ht @ledbydonkeys.org

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