By Paul Sankey
Published on June 8, 2025 at 12:11 PM
“There is a Lot of Land in West Texas” One of the oldest oil companies in currently quoted US oil equities, Texas Pacfiic Land, originating in 1871, is a barely known outsider that emerged seemingly from nowhere to S&P500 inclusion in 2024: TPL now has a larger market cap (no debt) than Devon, Coterra, Halliburton, Antero or Permian Resources. In this note we deconstruct TPL’s valuation, and establish the massive implied AI Data Center land …
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By Paul Sankey
Published on June 1, 2025 at 2:48 PM
Greetings, Just like that, the month of May 2025 was gone. Always a blink, the wonderful month of blossoms. Thus, Panama hats, white linens and blue seersucker summer wardrobe-ready, Wall Street summer is upon us. Enjoy your weekend, let’s try to relax. A stroll today, to help you think easy, let me give you a reminder of the famous (and generic) Sunday Sankey Pimm’s recipe, which drink converted at least one hedge fund portfolio manager …
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By Paul Sankey
Published on June 13, 2024 at 8:45 AM
Noted yesterday: old friend/former colleague in Bulge Bracket General Sales raving about GE Aerospace and the CEO, Lawrence Culp, as being outstanding. Noted yesterday: major long only investor raving about Ivanhoe CEO speaking at a conference this week in New York. “The biggest threat is not climate change, it is thermo-nuclear war”. Well, that’s okay then! Evidently Robert Friedland is a must-listen. We will try to get him on Happy Hour. Both stocks are in …
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