$1,000 follows their calls into $1,026
- Win rate
- 50%
- Streak
- 1close
- Best call
- Exit CRWV349 places since the call
Track record building
- Peak #112
- 10 ranked closes
- Longest streak 7
$1,000 follows their calls into $1,026
Vebjørn@VJNCapitalAWS could almost justify $AMZN valuation alone If we assume around 50% operating income growth over the next year, AWS could generate roughly $80-90B 12 months from now (NTM) Put a 30x multiple on it and you have a $2.4-$2.7T valuation $AMZN currently has a $2.7T market cap...


Vebjørn@VJNCapital$UBER at 14x P/OCF while growing 18% YoY seems like a disconnect to me

Vebjørn@VJNCapitalThis makes me wanna increase my $APP position
Vebjørn@VJNCapitalMy view on the AI cycle summarized: -> Main players negative FCF (hyperscalers) -> Debt/balance sheet funding next investments -> Debt carries worse economics than cash -> Larger ROI hurdle -> Reduced relative growth -> Lower relative growth + massive volume coming online =
Vebjørn@VJNCapitalCombined FCF for $MSFT $AMZN $GOOGL $META is collapsing I started cutting my semiconductor exposure 2-3 months ago The thesis was simple: Hyperscaler FCF turns negative -> Buildout gets funded with cash and debt -> Every dollar now has an extra cost and an ROI hurdle -> Capex

Vebjørn@VJNCapitalTo be clear: I like the company, just not the stock $ASML
Vebjørn@VJNCapitalIt has been 4 months and $ASML is down 13% despite executing beyond expectations $MSFT is up 53% $META is up 40% $MA is up 27% Valuation matters