The Surgeon Investor @SurgeonInvests1

@CDarnton0 Nice click bait 👍 Tell us

$FICO getting hammered with all of LatAm is kind of hilarious

Chech part 7 here 👇👇👇 x.com/SurgeonInvests…

The Surgeon Investor @SurgeonInvests1

2 hours ago

🧵 UNDERSTANDING BROOKFIELD CORPORATION'S ECOSYSTEM $BN PART 7: Carried interest The single most controversial and broadly criticized aspect of the $BN's / $BAM's business which at the same time is the most lucrative word in alternative

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🧵 UNDERSTANDING BROOKFIELD CORPORATION'S ECOSYSTEM $BN PART 6: The Lock-Up The Problem Most money managers face the same problem. Their job is to make investment decisions. What they don't control is the "the market is red, I'm panicking, give me my money back" button. That's reserved for their clients. No matter how long-term their investment thesis is, they're ultimately at the mercy of their clients' emotions. 📌 Example Plumber Joe gives a money manager his hard-earned $10k to invest and make him rich. The manager does his research and buys 100 shares of Company X at $100 each. That's $10k invested. He tells Joe that, in his view, Company X is worth at least $200 per share. For the sake of this example, let's assume he's right. The plan is simple: hold for around 3 years, sell at $200, return Joe's initial $10k plus a nice 100% profit, minus fees. Joe reinvests, recommends the manager to his friends, and everyone's happy. But tomorrow, the US bombs Iran. Markets tank. During his lunch break, Joe checks CNN, sees the carnage and panics. Joe: Hey, how much of my $10k is still there? Manager: $7.5k. Joe: SELL IT. I don't want it going any lower. Manager: Joe, relax. This Iran situation has nothing to do with our US logistics business. In fact, it might even improve margins and profits. Just give it time. This could be short-term noise. Joe: I CAN'T TAKE IT. I'm checking the market every 5 minutes. It's falling. GET ME OUT! Manager: Okay, Joe. We'll process your withdrawal according to the terms of your account. The dust eventually settles. The conflict drags on for a while, then ends. Three years later, Company X is trading at $250. Joe, afraid of the next crash, is still sitting on his $7.5k. Inflation has eroded its purchasing power, the manager has lost a client, and the capital generating fees for the manager is gone. All because Joe couldn't stomach the volatility. Sounds ridiculous? This is a fundamental problem in money management. And yes, even wealthy individuals and institutional investors can make emotional decisions when the pressure gets high enough. Enter Brookfield. $BN / $BAM Brookfield's asset-management model is structured to reduce this problem. At year-end 2025, Brookfield Asset Management ($BAM) reported $603B in fee-bearing capital, of which 87% was long-dated or perpetual. Many of its flagship private funds are closed-end vehicles with capital commitments typically lasting 10 years, often with extension options. Investors generally can't demand their money back whenever markets turn ugly. Why does this matter? 🟢 Less forced selling: Brookfield is less vulnerable to having to sell attractive assets simply because investors panic and demand their money back. 🟢 More predictable fees: Long-term commitments provide greater visibility into management fees, even when markets are volatile. 🟢 The ability to play offense: When others are under pressure, Brookfield can use its available capital and uncalled commitments to pursue opportunities that distressed sellers might have to abandon. Of course, lockups don't eliminate every liquidity risk, and not all of Brookfield's capital is locked up. But the structure gives it a meaningful advantage. Bottom line The real beauty of this model isn't that Brookfield is immune to market crashes. It isn't. It's that Brookfield doesn't have to rely on every investor keeping their nerve when markets fall apart. In a business where time and patience can make all the difference, having capital that stays put can be a serious competitive advantage. Long $BN / $BAM. NFA.

🧵 UNDERSTANDING BROOKFIELD CORPORATION'S ECOSYSTEM $BN PART 7: Carried interest The single most controversial and broadly criticized aspect of the $BN's / $BAM's business which at the same time is the most lucrative word in alternative asset management - Carry ​Here is how it works, why it’s a hidden goldmine for Brookfield ($BN) shareholders, and the crucial warning about how it’s estimated 👇 📌 ​Imagine you give a home flipper Joe $100,000 to buy and renovate a house. ​You agree to a clear split: you get your $100k principal back first, plus a guaranteed 8% return ($108k total). ​Anything made above $108k is split: 80% to you, and 20% to Joe. ​If Joe sells the house for $158,000, you take your $108k plus $40k of the upside. Joe walks away with $10,000 as his profit-share—despite risking zero of his own dollars. ​That 20% slice is Carried Interest ("Carry"). ​In private equity, managers charge a ~1% base fee to pay salaries and keep the lights on, but Carry is where actual fortunes are built. Generate a 15% return on a $10B fund, and the manager takes home 20% of all profits above the hurdle rate. ​The "not so obvious" part ​Because Brookfield locks up private funds for 10 to 12 years, their assets grow in value over years. Unrealized Carry sits on their balance sheet as an increasing pile of future cash waiting for assets to be sold. ⚠️ ​The Catch: Marking Your Own Homework Skeptics are quick to point out: unrealized carry isn't cash in the bank. ​Unlike public stocks with live tickers, private real estate and infrastructure assets don't trade daily, so their prices aren't really publicly seen. Brookfield estimates its unrealized carry based on internal valuations. If management marks assets too optimistically, that carried interest balance is artificially inflated. ​If asset values drop before a sale, those paper profits evaporate without generating a dime. ​The Real Track Record In order to trust the $BN 's management with your money, one should be able to trust their judgment. Trust comes from track record: Over 30+ years, Brookfield's flagship funds have targeted 12–15% net internal rate of return but delivered ~19% annualized returns, beating hurdle rates and consistently turning paper estimates into hard cash. Recent performance ​Recently, total accumulated unrealized carry sat at roughly $12.5 Billion, while quarterly cash realizations slowed down ($88M in Q4 '25 and $121M in Q2 '26). ​Why the lag? Higher interest rates cooled global M&A markets. Rather than fire-sale world-class assets just to book quick carry, management is sitting tight and letting them compound. ​The bottom line Unrealized carry isn't fake, but it requires patience. $BN/ $BAM shareholders are sitting on a massive, delayed cash wave that will unload as global transaction markets fully reopen. ​Long $BN. NFA.

@StocksButEasy Try to get a girl to sleep with you in a foreign city on vacation with a gpt translator That's the bull case Learning a language will never get out of fashion

Is $MELI a buy now after communists won the election? -14% definitely gets me salivating

I really hate this new stock issuance of $META This smells to me of a kindergartner behavior He wants something, and he wants it now! They tried being somewhat patient and tactical in creating new class shares for economic dilution without dilution of @finkd control, which is bad enough Now they can't even wait for the time to come and are just blasting out new shares... And all that with a questionable ROI, that they can't definitely see or at least explain to the shareholders themselves. Ridiculous What is so time sensitive so it had to be now? @alexandr_wang I'm out

@CDarnton0 I'm not using it almost at all anymore. I'm on YouTube most of the time. I believe that is the case for most people of my generation who is the biggest spender by far

@goooonnney Cause it's fun as hell

@GianKuos @Rocke33fella Thanks for visiting my profile. Make sure to follow 🤝

I'd like to blow some fresh air into the " $NAUT is gonna be bigger than Earth" narrative that seems to be dominating the feed. Yes, it's been a good run. But a word of caution: no matter how groundbreaking the technology, a company is more than just its tech. Turning it into a commercially viable business, building production and distribution capabilities, securing partners and customers, navigating the regulatory landscape and scaling everything to billions takes an insane amount of skill, time, drive, and, not least, luck. This is far from a guaranteed slam dunk, despite what the consensus on X seems to suggest.

@Rocke33fella @ApeTomo45 @alc2022 @AuditTheHerd You guys seem like a sensible bunch, I might actually look at it 👍😉

Check part 6 here 👇👇👇 x.com/SurgeonInvests…

The Surgeon Investor @SurgeonInvests1

2 days ago

🧵 UNDERSTANDING BROOKFIELD CORPORATION'S ECOSYSTEM $BN PART 6: The Lock-Up The Problem Most money managers face the same problem. Their job is to make investment decisions. What they don't control is the "the market is red, I'm panicking,

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🧵 UNDERSTANDING BROOKFIELD CORPORATION'S ECOSYSTEM $BN Part 5: Oaktree Brookfield's management loves to talk about countercyclicality. In that context Oaktree gets mentioned alot. What is it exactly? Let's unpack it: ​When economy is good, asset prices are booming, their real estate, infrastructure, and private equity machines rake it in. Brookfield corporation is making money hand over fist. But what happens when the economy breaks, interest rates spike, and everyone else is panicking? These are admittedly not the optimal conditions for most of Brookfield's businesses. ​That’s where Oaktree Capital comes in. ​Management presents Oaktree as their ultimate all-weather hedge. While most asset managers get crushed in a downturn, Oaktree thrives on chaos. 📌 ​To see how they pull it off, let’s look at Joe and a Honda Civic. Imagine Joe buys a $30,000 car with $3,000 of own cash and a $27,000 bank loan. Then bad times hit, Joe loses his job and stops paying. ​The bank panics. They don't want to repossess cars or run auctions, so they dump Joe’s $27,000 "bad debt" to an investor for just $10,000 cash. ​Enter Oaktree. ​Oaktree buys Joe's loan for $10,000, knowing the car is still physically worth $20,000. They repossess it, sell it, and double their money. ​Now scale Joe up to a $1 Billion corporation. ​When high interest rates hit, companies can't service their loans. Panicked bondholders dump $800M of corporate debt for 50 cents on the dollar ($400M) just to escape. ​Oaktree steps in, buys that $800M debt block for $400M, and takes the company straight to bankruptcy court. ​Instead of demanding cash, Oaktree tells the judge: "Cancel the debt and give us 100% ownership of the business." ​Pulling this off requires serious expertise. Navigating bankruptcy courts, restructuring defaulted balance sheets, and executing debt-for-equity swaps takes decades of specialized practice. At the helm is Howard Marks @hmarksofficial , the undisputed master of distressed debt whose memos even Warren Buffett reads. The ultimate "buyer when others are fearful" Bottom line ​When markets roar, Brookfield builds and sells real assets. When markets crash and defaults spike, Oaktree buys great businesses at half-price. ​That’s why the partnership is such a powerful engine. ​Long $BN. NFA. Check out other parts of our series UNDERSTANDING BROOKFIELD CORPORATION'S ECOSYSTEM 👇👇👇

@Rocke33fella @ApeTomo45 Guys, be honest, did you get the idea from @alc2022? Or did you discover this company independently?

@loveleesfinance Honestly, it's bad enough kids get to feel your stress at all. But feel stress about bills? Who goes and explains their toddler how expensive electricity is?

@martinfxtrade What every trader most definitely needs is to learn fundamental long term investing 👍

@drayinvests Yes my friend, this is what a great opportunity looks like. Make sure you act on it cause foreseeing flood means nothing unless you build an arc 😉

@Stealthct_Storm 1. Jealous people 2. Retarded libtards

@freddiewittmann @forloraralltid @ClarkSquareCap Almost any company can offer great returns if you somehow happen to buy at the exact bottom and sell at the exact top, but that is not how reality works

@Rocke33fella That is actually a very good sign, did not know that!