Episode 16: Theory Check-In: ANSYS/Synopsys, Foundries, and VKTX

Oct 3

Written By Brian O'Neill

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(This show was recorded on 31st July 2025)

Brian and Mik catch up on a few investment ideas they have been following

What we cover

ANSYS × Synopsys: the deal closed; why a stock-and-cash structure gave us yield and long-term exposure, and how we’re thinking about integration risk and the opportunity ahead. (TLdR: We are still long Synosys)
Semis & the “foundry question”: Intel sentiment whiplash, a new CEO with a turnaround pedigree, and the reality of competing with TSMC scale. We speculate on Intel's potential outcome(s) and what second-order effects may be for the ecosystem, including TSMC.
Viking Therapeutics (VKTX): why a fast-follower with both subcutaneous and oral programs still looks interesting in a market dominated by Novo/Lilly; the real risks (short interest, dilution, timelines) and why patience, position sizing and buying well matters.
Process over predictions: how we use updates like these to revisit assumptions without over-trading the noise.

Disclaimer: The views expressed are for entertainment purposes only. This is not investment advice. Please do your own research before making any financial decisions.

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Brian O'Neill

Episode 16: Theory Check-In: ANSYS/Synopsys, Foundries, and VKTX

Episode 17: Dealable, 15th August 2025

Episode 15: Thesis Grading a multi-year investment in TG Therapeutics (TGTX)