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The Russia Mafia is part and parcel of Russian intelligence. Russia is a mafia state. That is not a metaphor. Putin is head of the Mafia. So the fact that they have deep ties to Donald Trump is deeply disturbing. Trump conducted FIVE completely private meetings and conferences with Putin, and has gone to great lengths to prevent literally anyone, even people in his administration, from learning what was discussed.
According to an ex-KGB spy...Russia has been cultivating Trump as an asset for 40 years.
Trump was first compromised by the Russians in the 80s. In 1984, the Russian Mafia began to use Trump real estate to launder money.
In 1984, David Bogatin — a convicted Russian mobster and close ally of Semion Mogilevich, a major Russian mob boss — met with Trump in Trump Tower right after it opened. Bogatin bought five condos from Trump at that meeting. Those condos were later seized by the government, which claimed they were used to launder money for the Russian mob.
“During the ’80s and ’90s, we in the U.S. government repeatedly saw a pattern by which criminals would use condos and high-rises to launder money,” says Jonathan Winer, a deputy assistant secretary of state for international law enforcement in the Clinton administration. “It didn’t matter that you paid too much, because the real estate values would rise, and it was a way of turning dirty money into clean money. It was done very systematically, and it explained why there are so many high-rises where the units were sold but no one is living in them.”
When Trump Tower was built, as David Cay Johnston reports in The Making of Donald Trump, it was only the second high-rise in New York that accepted anonymous buyers.
In 1987, the Soviet ambassador to the United Nations, Yuri Dubinin, arranged for Trump and his then-wife, Ivana, to enjoy an all-expense-paid trip to Moscow to consider business prospects.
A short while later he made his first call for the dismantling of the NATO alliance. Which would benefit Russia.
At the beginning of 1990 Donald Trump owed a combined $4 billion to more than 70 banks, with $800 million personally guaranteed by his own assets, according to Alan Pomerantz, a lawyer whose team led negotiations between Trump and 72 banks to restructure Trump’s loans. Pomerantz was hired by Citibank.
Interview with Pomerantz
Trump agreed to pay the bond lenders 14% interest, roughly 50% more than he had projected, to raise $675 million. It was the biggest gamble of his career. Trump could not keep pace with his debts. Six months later, the Taj defaulted on interest payments to bondholders as his finances went into a tailspin.
In July 1991, Trump’s Taj Mahal filed for bankruptcy.
So he bankrupted a casino? What about Ru...
The Trump Taj Mahal casino broke anti-money laundering rules 106 times in its first year and a half of operation in the early 1990s, according to the IRS in a 1998 settlement agreement.
The casino repeatedly failed to properly report gamblers who cashed out $10,000 or more in a single day, the government said."The violations date back to a time when the Taj Mahal was the preferred gambling spot for Russian mobsters living in Brooklyn, according to federal investigators who tracked organized crime in New York City. They also occurred at a time when the Taj Mahal casino was short on cash and on the verge of bankruptcy."
....ssia
So by the mid 1990s Trump was then at a low point of his career. He defaulted on his debts to a number of large Wall Street banks and was overleveraged. Two of his businesses had declared bankruptcy, the Trump Taj Mahal Casino in Atlantic City and the Plaza Hotel in New York, and the money pit that was the Trump Shuttle went out of business in 1992. Trump companies would ultimately declare Chapter 11 bankruptcy two more times.
Trump was $4 billion in debt after his Atlantic City casinos went bankrupt. No U.S. bank would touch him. Then foreign money began flowing in through Deutsche Bank.
The extremely controversial Deutsche Bank. The Nazi financing, Auschwitz building, law violating, customer misleading, international currency markets manipulating, interest rate rigging, Iran & others sanctions violating, Russian money laundering, salvation of Donald J. Trump.
The agreeing to a $7.2 billion settlement with with the U.S. Department of Justice over its sale and pooling of toxic mortgage securities and causing the 2008 financial crisis bank.
The appears to have facilitated more than half of the $2 trillion of suspicious transactions that were flagged to the U.S. government over nearly two decades bank.
The embroiled in a $20b money-laundering operation, dubbed the Global Laundromat. The launders money for Russian criminals with links to the Kremlin, the old KGB and its main successor, the FSB bank.
That bank.
Three minute video detailing Trump's debts and relationship with Deutsche Bank
In 1998, Russia defaulted on $40 billion in debt, causing the ruble to plummet and Russian banks to close. The ensuing financial panic sent the country’s oligarchs and mobsters scrambling to find a safe place to put their money. That October, just two months after the Russian economy went into a tailspin, Trump broke ground on his biggest project yet.
Directly across the street from the United Nations building.
Russian Linked-Deutsche Bank arranged to lend hundreds of millions of dollars to finance Trump’s construction of a skyscraper next to the United Nations.
Construction got underway in 1999.
Units on the tower’s priciest floors were quickly snatched up by individual buyers from the former Soviet Union, or by limited liability companies connected to Russia. “We had big buyers from Russia and Ukraine and Kazakhstan,” sales agent Debra Stotts told Bloomberg. After Trump World Tower opened, Sotheby’s International Realty teamed up with a Russian real estate company to make a big sales push for the property in Russia. The “tower full of oligarchs,” as Bloomberg called it, became a model for Trump’s projects going forward. All he needed to do, it seemed, was slap the Trump name on a big building, and high-dollar customers from Russia and the former Soviet republics were guaranteed to come rushing in.
New York City real estate broker Dolly Lenz told USA TODAY she sold about 65 condos in Trump World at 845 U.N. Plaza in Manhattan to Russian investors, many of whom sought personal meetings with Trump for his business expertise.
“I had contacts in Moscow looking to invest in the United States,” Lenz said. “They all wanted to meet Donald. They became very friendly.”Lots of Russian and Eastern European Friends. Investing lots of money. And not only in New York.
Miami is known as a hotspot of the ultra-wealthy looking to launder their money from overseas. Thousands of Russians have moved to Sunny Isles. Hundreds of ultra-wealthy former Soviet citizens bought Trump properties in South Florida. People with really disturbing histories investing millions and millions of dollars. Igor Zorin offers a story with all the weirdness modern Miami has to offer: Russian cash, a motorcycle club named after Russia’s powerful special forces and a condo tower branded by Donald Trump.
Thanks to its heavy Russian presence, Sunny Isles has acquired the nickname “Little Moscow.”
From an interview with a Miami based Siberian-born realtor... “Miami is a brand,” she told me as we sat on a sofa in the building’s huge foyer. “People from all over the world want property here.” Developers were only putting up luxury properties because they “know that the crisis has not affected people with money,”
Most of her clients are Russian—there are now three direct flights per week between Moscow and Miami—and increasing numbers are moving to Florida after spending a few years in London first. “It’s a money center, and it’s a lot easier to get your money there than directly to the US, because of laws and tax issues,” she said. “But after your money has been in London for a while, you can move it to other places more easily.”
In the 2000s, Trump turned to licensing deals and trademarks, collecting a fee from other companies using the Trump name. This has allowed Trump to distance himself from properties or projects that have failed or encountered legal trouble and provided a convenient workaround to help launch projects, especially in Russia and former Soviet states, which bear Trump’s name but otherwise little relation to his general business.
Enter Bayrock Group, a development company and key Trump real estate partner during the 2000s. Bayrock partnered with Trump in 2005 and invested an incredible amount of money into the Trump organization under the legal guise of licensing his name and property management. Bayrock was run by two investors:
Felix Sater, a Russian-born mobster who served a year in prison for stabbing a man in the face with a margarita glass during a bar fight, pleaded guilty to racketeering as part of a mafia-driven "pump-and-dump" stock fraud and then escaped jail time by becoming a highly valued government informant. He was an important figure at Bayrock, notably with the Trump SoHo hotel-condominium in New York City, and has said under oath that he represented Trump in Russia and subsequently billed himself as a senior Trump advisor, with an office in Trump Tower. He is a convict who became a govt cooperator for the FBI and other agencies. He grew up with Micahel Cohen --Trump's disbarred former "fixer" attorney. Cohen's family owned El Caribe, which was a mob hangout for the Russian Mafia in Brooklyn. Cohen had ties to Ukrainian oligarchs through his in-laws and his brother's in-laws. Felix Sater's father had ties to the Russian mob.
Tevfik Arif, a Kazakhstan-born former "Soviet official" who drew on bottomless sources of money from the former Soviet republic. Arif graduated from the Moscow Institute of Trade and Economics and worked as a Soviet trade and commerce official for 17 years before moving to New York and founding Bayrock. In 2002, after meeting Trump, he moved Bayrock’s offices to Trump Tower, where he and his staff of Russian émigrés set up shop on the twenty-fourth floor.
Arif was offering him a 20 to 25 percent cut on his overseas projects, he said, not to mention management fees. Trump said in the deposition that Bayrock’s Tevfik Arif “brought the people up from Moscow to meet with me,”and that he was teaming with Bayrock on other planned ventures in Moscow. The only Russians who are likely have the resources and political connections to sponsor such ambitious international deals are the corrupt oligarchs.
In 2005, Trump told The Miami Herald “The name has brought a cachet to certain areas that wouldn’t have had it,” Dezer said Trump’s name put Sunny Isles Beach on the map as a classy destination — and the Trump-branded condo units sold “10 to 20 percent higher than any of our competitors, and at a faster pace.”“We didn’t have any foreclosures or anything, despite the crisis.”
In a 2007 deposition that was part of his unsuccessful defamation lawsuit against reporter Timothy O’Brien Trump testified "that Bayrock was working their international contacts to complete Trump/Bayrock deals in Russia, Ukraine, and Poland. He testified that “Bayrock knew the investors” and that “this was going to be the Trump International Hotel and Tower in Moscow, Kiev, Istanbul, et cetera, and Warsaw, Poland.”
In 2008, Donald Trump Jr. gave the following statement to the “Bridging U.S. and Emerging Markets Real Estate” conference in Manhattan: “[I]n terms of high-end product influx into the United States, Russians make up a pretty disproportionate cross-section of a lot of our assets; say in Dubai, and certainly with our project in SoHo and anywhere in New York. We see a lot of money pouring in from Russia.”
In July 2008, Trump sold a mansion in Palm Beach for $95 million to Dmitry Rybolovlev, a Russian oligarch. Trump had purchased it four years earlier for $41.35 million. The sale price was nearly $54 million more than Trump had paid for the property. This was the height of the recession when all other property had plummeted in value. Must be nice to have so many Russian oligarchs interested in giving you money.
In 2013, Trump went to Russia for the Miss Universe pageant “financed in part by the development company of a Russian billionaire Aras Agalarov.… a Putin ally who is sometimes called the ‘Trump of Russia’ because of his tendency to put his own name on his buildings.” He met with many oligarchs. Timeline of events. Flight records show how long he was there.
Video interview in Moscow where Trump says "...China wanted it this year. And Russia wanted it very badly." I bet they did.
Also in 2013, Federal agents busted an “ultraexclusive, high-stakes, illegal poker ring” run by Russian gangsters out of Trump Tower. They operated card games, illegal gambling websites, and a global sports book and laundered more than $100 million. A condo directly below one owned by Trump reportedly served as HQ for a “sophisticated money-laundering scheme” connected to Semion Mogilevich.
In 2014, Eric Trump told golf reporter James Dodson that the Trump Organization was able to expand during the financial crisis because “We don’t rely on American banks. We have all the funding we need out of Russia. I said, 'Really?' And he said, 'Oh, yeah. We’ve got some guys that really, really love golf, and they’re really invested in our programmes. We just go there all the time.’”
A 2015 racketeering case against Bayrock, Sater, and Arif, and others, alleged that: “for most of its existence it [Bayrock] was substantially and covertly mob-owned and operated,” engaging “in a pattern of continuous, related crimes, including mail, wire, and bank fraud; tax evasion; money laundering; conspiracy; bribery; extortion; and embezzlement.” Although the lawsuit does not allege complicity by Trump, it claims that Bayrock exploited its joint ventures with Trump as a conduit for laundering money and evading taxes. The lawsuit cites as a “Concrete example of their crime, Trump SoHo, [which] stands 454 feet tall at Spring and Varick, where it also stands monument to spectacularly corrupt money-laundering and tax evasion.”
In 2016, the Trump Presidential Campaign was helped by Russia.
(I don't have the presidential term sourced yet. I'll post an update when I do. I'm sure you probably remember most of them...sigh. TY to the main posters here. Obviously I'm standing on your shoulders having taken a lot of the information or articles from here).

Edit 1: More ARKQ buying today (~50k shares). Thank you everyone for the positive feedback and discussion!
Bottom Line Up Front (BLUF) or TL;DR for the non-military types:
LMT is a good target if you want to literally go to the moon, and my PT is $690.26 in two years (more than 2x from current levels). Justification and some possible trade ideas are listed below, just CTRL-F “Trade Ideas”. I hope you guys enjoy this work and would appreciate any discussion or feedback. I hope to catch you in the comments.
Team,
We interrupt today’s regularly scheduled short squeeze coverage to discuss a traditionally boring stock, LMT (Lockheed Martin), with significant upside potential. To be clear, this is NOT a short squeeze target like many reddit posts are keying on. I hope that this piece sparks discussion, but if you are just looking for short squeeze content, all I have to say is BUY, HOLD, and GODSPEED.
The source of inspiration for me writing this piece is threefold; first, retail investors are winning, and I believe that we will continue to win if we continue to identify opportunities in the market. In my view, the stock market has always been a place for the public to shine a light on areas of innovation that real Americans are excited about and proud to be a part of. Online communities have stolen the loudspeaker from hedge fund managers and returned it to decentralized online democracies that quickly and proudly shift their weight behind ideas they believe in. In GME’s case, it was a blatant smear campaign to destroy a struggling business. I think that we should continue this campaign by identifying opportunities in the market and running with them. It may sound overly idealistic, but if reddit can take on the hedge funds, I non-ironically believe that we can quite literally take good companies researching space technology to the moon. I think LMT may be one of several stocks to help get us there.
Second, a video where the Secretary of State of Massachusetts argues that internet boards are full of a bunch of unsophisticated, thoughtless traders really ticked me off. This piece is designed to show that ‘the little guy’ is ready to get into the weeds, understand business plans, and outpace analysts that think companies like Tesla are overvalued by comparing them to Toyota. That is a big reason that I settled on an old, large, slow growth company to do a deep-dive on, and try my best to show some of the abysmal predictive analysis major ‘research firms’ do on even some of the most heavily covered stocks. LMT is making moves, and the suits on wall street are 10 steps behind. At the time of writing this piece, Analyst Estimates range from 330-460 (what an insane range).
Third, and most importantly, I am in the US military, and I think that it is fun to go deep into the financials of the defense sector. I think that it helps me understand the long-term growth plans of the DoD, and I think that I attack these deep-dives with a perspective that a lot of these finance-from-day-one cats do not understand. Even if no one ever looks at this work, I think that taking the time to write pieces like this makes me a better Soldier, and I will continue to do it in my spare time when I am feeling inspired. I wrote a piece on Raytheon Technologies (Ticker: RTX) 6 months ago, and I think it was well-received. I was most convicted about RTX in the defense sector, but I have since shifted to believing LMT is the leader in the defense space. I am long both, though. If this inspires anyone else to do similar research on other companies, or sparks discussion in the community, that is just a bonus. Special shout-out to the folks that read more than just the TL;DR, but if you do just read the TL;DR, I love you too!
Now let us get into it:
Leadership
I generally like to invest in companies that are led by people that seem to have integrity. Jim Taiclet took the reins at LMT in June of last year. While on active duty, he served as a C-141B Starlifter pilot (a retired LMT Aircraft). After getting out he went to work for the American Tower Corporation (Ticker: AMT). His first day at American Tower was September 10, 2001. The following day, AMT lost 13 employees in the World Trade Center attack. He stayed with the company, despite it being decimated by market uncertainty in the wake of 9/11. He was appointed CEO of the very same company in 2004. Over a 16 year tenure as CEO of AMT the company market cap 20x’d. He left his position as CEO of AMT in March of last year, and the stock stagnated since his departure, currently trading at roughly the same market cap as to when he left.
Jim Taiclet was also appointed to be the chairman of the board this week, replacing the previous CEO. Why is it relevant that the CEO came from a massive telecommunications company?
Rightfully, Taiclet’s focus for LMT is bringing military technology into the modern era. He wants LMT to be a first mover in the military 5G space, military application of AI space, the… space space, and the hypersonic glide vehicle (HGV) space. These areas are revolutionary for the boomer defense sector. We will discuss this in more detail later when we cover the company’s P/E multiple and why it is absolute nonsense.
It is not a surprise to me that they brought Taiclet on during the pandemic. He led AMT through adversity before, and LMT’s positioning during the pandemic is tremendous relative to the rest of the sector, thanks in large part to some strong strategic moves and good investments by current and past leadership. I think that Taiclet is the right CEO for the job.
In addition to the new CEO, the new Secretary of Defense, Secretary Lloyd Austin, has strong ties to the defense sector. He was formerly a board member for RTX. He is absolutely above reproach, and a true leader of character, but I bring this up not to suggest that he will inappropriately serve in the best interest of defense contractors, but to suggest that he speaks the language of these companies effectively. I do not anticipate that the current administration poses as significant of a risk to the defense sector as many analysts seem to believe. This will be expanded in the headwinds section below.
SPACE
Cathie Wood and the ARK Invest team brought a lot of attention to the space sector when the ARKX, The ARK Space Exploration ETF, Form N-1A was officially filed through the SEC. More recently, ARK Invest published their Big Ideas 2021 Annual Report and dedicated an entire 7-page chapter to Orbital Aerospace, a new disruptive innovation platform that the ARK Team is investigating. This may have helped energize wall street to re-look their portfolios and their investments in space technology, but it was certainly not the first catalyst that pushed the defense industry in the direction of winning the new space race.
In June 2018, then President Trump announced at the annual National Space Council that “it is not enough to merely have an American presence in space, we must have American dominance in space. So important. Therefore, I am hereby directing the Department of Defense (DoD) and Pentagon to immediately begin the process necessary to establish a Space Force as the sixth branch of the Armed Forces". Historically, Department of Defense space assets were under the control of the Air Force. By creating a separate branch of service for the United States Space Force (USSF), the DoD would allocate a Chairman of Space Operations on the Joint Chiefs of Staff and clearly define the budget for space operations dedicated directly to the USSF. At present, this budget is funneled from the USAF’s budget. The process was formalized in December of 2019, and the DoD has appropriated ~$15B to the USSF in their first full year of existence according to the FY21 budget.
Among the 77 spacecraft that are controlled by the USSF, 29 of them are Lockheed Martin GPS satellites, 6 of them are Lockheed Martin Space-Based Infrared Systems (SBIRS), and LMT had a hand in creating and/or manufacturing for several of the other USSF efforts. The Next Generation Overhead Persistent Infrared Missile Warning Satellites (also known as Next-Gen OPIR) were contracted out to both Northrup Grumman (Ticker: NOC) and LMT. LMT’s contract is currently set at $4.9B, NOC’s contract is set at $2.37B.
Tangentially related to the discussion of space is the discussion of hypersonic glide vehicles (HGVs). HGVs have exoatmospheric and atmospheric implications, but I think that their technology is extremely important to driving margins down for both space exploration and terrestrial point-to-point travel. LMT is leading the charge for military HGV research. They hold contracts with the Navy, Air Force, and Army to develop HGVs and hypersonic precision fires. The priority for HGV technology accelerated significantly when Russia launched their Avangard HGV in December of 2019. Improving the technology for HGVs is a critical next-step in maintaining US hegemony, but also maintaining leadership in both terrestrial and exoatmospheric travel.
LARGE SCALE COMBAT OPERATIONS (LSCO)
The DoD transitioning to Large-Scale Combat Operations (LSCO) as the military’s strategic focus. This is a move away from an emphasis on Counter-Insurgency operations. LSCO requires effective multi-domain operations (MDO), which means effective and integrated strategies regarding land, sea, air, space, and cyberspace. To have effective MDO, the DoD is seeking systems that both expand capabilities against peer threats and increase the ability to track enemy units and communicate internally. This requires a modernizing military strategy that relies heavily on air, missile, and sensor modernization. Put simply, the DoD has decided to start preparing for peer or near-peer adversaries (China, Russia, Iran, North Korea) rather than insurgencies. For this reason, I believe that increased Chinese and Russian tensions are, unfortunate as it may be, a boon to the defense industry. This is particularly true in the missiles/fires and space industry, as peer-to-peer conflicts are won by leveraging technological advantages.
There are too many projects to cover in detail, but some important military technologies that LMT is focusing on to support LSCO include directed energy weapons (lasers) to address enemy drone technology, machine learning / artificial intelligence (most applications fall under LMT’s classified budget, but it is easy to imagine the applications of AI in a military context), and 5G to increase battlefield connectivity. These projects are all nested within the DoD’s LSCO strategy, and position LMT as the leader in emergent military tech. NOC is the other major contractor making a heavy push in the modernization direction, but winners win, and I think a better CEO, balance sheet, and larger market cap make LMT the clear winner for aiding the DoD in a transition toward LSCO.
SECTOR COMPARISON (BACKLOG)
The discussion of LSCO transitions well into the discussion of defense contractor backlogs. Massive defense contracts are not filled overnight, so examining order backlogs is a relatively reliable way to gauge the interest of the DoD in a defense contractor’s existing or emerging products. For my sector comparison, I am using the top 6 holdings of the iShares U.S. Aerospace & Defense ETF (Ticker: ITA). I hate this ETF, and ETFs like it (DFEN) because of their massively outsized exposure to aerospace, and undersized allocation to companies like LMT. LMT is only 18% smaller than Boeing (Ticker: BA) but is only 30.4% of the exposure of BA (18.46% of the fund is BA, only 5.62% of the fund is LMT). Funds of this category are just BA / RTX hacks. I suggest building your own pie on a site like M1 Finance (although they are implicated in the trade restriction BS… please be advised of that… hoping other brokerages that are above board will offer similar UIs like the pie design… just wanted to be clear there) if you are interested in the defense sector.
The top 6 holdings of ITA are:
Boeing Company (Ticker: BA, MKT CAP $110B) at 18.46%
Raytheon Technologies (Ticker: RTX, MKT CAP $101B) at 17.84%
Lockheed Martin (Ticker: LMT, MKT CAP $90B) at 5.62%
General Dynamics Corporation (Ticker: GD, MKT CAP $42B) 4.78%
Teledyne Technologies Incorporated (Ticker: TDY, MKT CAP $13B) at 4.74%
Northrop Grumman Corporation (Ticker: NOC, MKT CAP $48B) at 4.64%
As a brief aside, please look at the breakdowns of ETFs before buying them. The fact that ITA has more exposure to TDY than NOC and L3Harris is wild. Make sector ETFs balanced how you want them to be balanced and it will be more engaging, and you will likely outperform. I digress.
Backlogs for defense companies can easily be pulled from their quarterly reports. Here are the current backlogs in the same order as before, followed by a percentage of their backlog to their current market cap. All numbers are pulled from January earning reports unless otherwise noted with an * because they are still pending.
Boeing Company backlog (Commercial: $282B, Defense: $61B, Foreign Military Sales (FMS, categorized by BA as ‘Global’): 21B, Total Backlog 364B): BA’s backlog to market cap is a ratio of 3.32, which is strong, but most of that backlog comes from the commercial, not the defense side. Airlines have been getting decimated, I am personally not interested in having much of my backlog exposed to commercial pressures when trying to invest in a defense play. Without commercial exposure, their defense only backlog ratio is .748. This is extremely low. I understand that this does not do BA justice, but I am keying in on defense exposure, and I am left thoroughly unsatisfied by that ratio. Also, we have seen several canceled contracts already on the commercial side.
Raytheon Technologies backlog (Defense backlog for all 4 subdivisions: 67.3B): Raytheon only published a defense backlog in this quarter’s report. That is further evidence to me that the commercial aerospace side of the house is getting hammered. They have a relatively week backlog to market cap as well, putting them at a ratio of .664, worse off than the BA defense backlog.
Lockheed Martin backlog (Total Backlog: $147B): This backlog blows our first two defense backlogs out of the water with a current market cap to backlog ratio of 1.63.
General Dynamics Corporation backlog (Total Backlog: $89.5B, $11.6B is primarily business jets, but it is difficult to determine how much of their aerospace business is commercial): Solid 2.13 ratio, still great 1.85 if you do not consider their aerospace business. The curveball here for me is that GD published a consolidated operating profit of $4.1B including commercial aerospace, whereas LMT published a consolidated operating profit of $9.1B. This makes the LMT ratio of profit/market cap slightly in favor of LMT without accounting for the GD commercial aerospace exposure. This research surprised me; I may like GD more than I originally assumed I would. Still prefer LMT.
Teledyne Technologies Incorporated backlog (Found in the earnings transcript, $1.7B): This stock is not quite in the same league as the other major contractors. This is an odd curveball that a lot of the defense ETFs seem to have too much exposure to. They have a weak backlog, but they are a smaller growing company. I am not interested in this at all. It has a backlog ratio of .129.
Northrop Grumman Corporation backlog ($81B): Strong numbers here. I see NOC and LMT as the two front-runners in the defense sector. I like LMT more because I like their exposure to AI, 5G, and HGVs more than NOC, but I think this is a great alternative to LMT if you like the defense sector. Has a ratio of 1.69, slightly edging out LMT on this metric. LMT edges out NOC on margins by ~.9%, though, which has significant implications when considering the depth of the LMT backlog.
The winners here are LMT, GD, and NOC. BA is attractive if you think anyone will have enough money to buy new planes. BA and RTX are both getting hammered by commercial aerospace exposure right now and are much more positioned as recovery plays. That said, LMT and NOC both make money now, and will regardless of the impact of the pandemic. LMT is growing at a slightly faster rate than NOC. Both are profit machines, but I like LMT’s product portfolio and leadership a lot more.
FREE CASH FLOW
Despite the pandemic, LMT had the free cash flow to be able to pay a $2.60 per share dividend. This maintains their ~3% yearly dividend rate. They had a free cash flow of $6.4B. They spent $3.9 of that in share repurchases and dividend payouts. That leaves 40% of that cash to continue to strengthen one of the most stalwart balance sheets outside of big tech on the street. Having this free cash flow allowed them to purchase Aerojet Rocketdyne for $4.4B in December. They seem flexible and willing to expand and take advantage of their relative position during the pandemic. This is a stock that has little downside risk and significant upside potential. It is always reassuring to me to know that at the end of the day, a company is using its profit to continue to grow.
HEADWINDS
New Administration – This is more of an unknown than a headwind. The Obama Administration was not light on military spending, and the newly appointed SecDef is unlikely to shy away from modernizing the force. Military defense budgets may get lost in the political shuffle, but nothing right now suggests that defense budgets are on the chopping block.
Macroeconomic pressure – The markets are tumultuous in the wake of GME. Hedgies are shaking in their boots, and scared money weighed on markets the past week. If scared money continues to exert pressure on the broader equity markets, all boomer stocks are likely weighed down by slumping markets.
Non-meme Status – The stocks that are impervious to macroeconomic pressures in the above paragraph are the stonks that we, the people, have decided to support. From GME to IPOE, there is a slew of stonks that are watching and laughing from the green zone as the broader markets slip deeper into the red zone. Unless sentiment about LMT changes, I see no evidence that LMT will remain unaffected by a broader economic downturn (despite showing growth YoY during a pandemic).
TAILWINDS
Aerojet Rocketdyne to the Moon – Cathie Wood opened up a $39mil position in LMT a few weeks ago, and this was near the announcement of ARKX. The big ideas 2021 article focuses heavily on satellite technology, deep learning, and HGVs. I think that the AR acquisition suggests that vertical integration is a priority for LMT. They even fielded a question in their earnings call about whether they were concerned about being perceived as a monopoly. Their answer was spot on—the USFG and DoD have a vested interest in the success of defense companies. Why would they discourage a defense contractor from vertical integration to optimize margins?
International Tensions – SolarWinds has escalated US-Russia tensions. President Biden wants to look tough on China. LSCO is a DoD-wide priority.
5G.Mil – We still do not have a lot of fidelity on what this looks like, but the military would benefit in a lot of ways if we had world-wide access to the rapid transfer of encrypted data. Many units still rely on Vietnam-era technology signal technology with abysmal data rates. There are a lot of implications if the code can be cracked to win a DoD 5G contract.
TRADE IDEAS
Price Target: LMT is currently at a P/E of ~14. Verizon has roughly the same. LMT’s 5-year P/E ratio average is ~17. NOC is currently at a P/E of ~20. TSLA has a P/E Ratio of 1339 (disappointingly not 1337). P/E is a useless metric because no one seems to care about it. My point is that LMT makes a lot of money, and other companies that are valued at much higher multiples do not make any money at all. LMT’s P/E ratio is that of a boomer stock that has no growth potential. LMT’s P/E is exactly in line with the Aerospace and Defense Industry P/E ratio standard. LMT’s new CEO is pushing the industry in a new direction. I will arbitrarily choose a P/E ratio of 30, because it is half of the software industry average, and it is a nice round number. Plus, stock values are speculative and nonsense anyway.
Share price today: $321.82
Share price based on LMT average 5-year P/E: $384.08 (I see this as a short term PT, reversion to the mean)
Share price with a P/E of 30: $690.26
Buy and Hold: Simple. Doesn’t take much thought. Come back in a year or two and be happy with your tendies (and a few dividends to boot).
LEAPS Call Debit Spread (Based on last trade prices): Buy $375 C 20 JAN 23 for $26.5, Sell $450 C 20 JAN 23 for $12. Total Cost $14.5 for a spread width of $75. Max gain 517% per spread. Higher risk strategy.
LEAPS: Buy $500 C 20 JAN 23 for $7.20. Very high-risk strat. If the price target is hit within two years, these would be in the money $183 per contract for a gain of 2500%. This is the casino strat.
SOURCES
https://www.lockheedmartin.com/en-us/news/features/2020/james-taiclet-from-military-pilot-to-successful-ceo.html
https://www.warren.senate.gov/newsroom/press-releases/in-response-to-senator-warrens-questions-secretary-of-defense-nominee-general-lloyd-austin-commits-to-recusing-himself-from-raytheon-decisions-for-four-years
https://news.lockheedmartin.com/2019-08-30-Lockheed-Martins-Expertise-in-Hypersonic-Flight-Wins-New-Army-Work
https://www.lockheedmartin.com/en-us/capabilities/hypersonics.html
https://research.ark-invest.com/hubfs/1_Download_Files_ARK-Invest/White_Papers/ARK%E2%80%93Invest_BigIdeas_2021.pdf?hsCtaTracking=4e1a031b-7ed7-4fb2-929c-072267eda5fc%7Cee55057a-bc7b-441e-8b96-452ec1efe34c
https://www.deseret.com/2018/6/19/20647309/twitter-reacts-to-trump-s-call-for-a-space-force
https://comptroller.defense.gov/Portals/45/Documents/defbudget/fy2021/fy2021_Budget_Request_Overview_Book.pdf
https://www.airforcemag.com/lockheed-receives-up-to-4-9-billion-for-next-gen-opir-satellites/
https://spacenews.com/northrop-grumman-gets-2-3-billion-space-force-contract-to-develop-missile-warning-satellites/
https://www.lockheedmartin.com/en-us/capabilities/directed-energy/laser-weapon-systems.html
https://emerj.com/ai-sector-overviews/lockheed-martins-ai-applications-for-the-military/
https://www.defenseone.com/business/2020/07/new-ceo-wants-lockheed-become-5g-playe167072/
https://www.wsj.com/articles/defense-firms-expect-higher-spending-11548783988
https://www.etf.com/ITA#efficiency
https://s2.q4cdn.com/661678649/files/doc_financials/2020/q4/4Q20-Presentation.pdf
https://investors.rtx.com/static-files/dfd94ff7-4cca-4540-bc4b-4e3ba92fc646
https://investors.lockheedmartin.com/static-files/64e5aa03-9023-423a-8908-2aae8c7015ac
https://s22.q4cdn.com/891946778/files/doc_financials/2020/q4/GD_4Q20_Earnings_Highlights-Outlook-Final.pdf
https://www.fool.com/earnings/call-transcripts/2021/01/27/teledyne-technologies-inc-tdy-q4-2020-earnings-cal/
https://investor.northropgrumman.com/static-files/6e6e117f-f656-4c68-ba7f-3dc53c2dd13a

NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY.
https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html
NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1.
https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html
NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%)
NEW INFO 2 Here is the full webinar.
https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866
NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below
https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx
Playboy going public: Porn, Gambling, and Cannabis
!!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should.
In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase.
Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below:
https://www.playboy.com/
https://www.playboytv.com/
https://www.playboyplus.com/
https://www.iplayboy.com/
Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success.
“Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.”
https://www.scientificgames.com/
https://www.microgaming.co.uk/
“This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.”
https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/
As per their SEC filing:
“Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1
They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon.
https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era
Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again:
https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea
“Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.”
“According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently:
https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae
Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress.
Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait.
https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/
Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video:
https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html
Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said. https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this: https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too: https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05
Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing:
“For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.”
“In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.”
“In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.”
“In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.”
They are profitable across all three of their current business segments.
“Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China. https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.” https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders).
https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm
This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world.
"Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.”
Also in the SEC filing, the Time Frame:
“As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn.
The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.” https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :(
He should be fine with the 16 million PLBY shares he's going to have though :)
Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw.
I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets.
https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003
Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this:
“Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy.
“Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative.
https://www.secform4.com/insider-trading/1832415.htm
https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html
Y’all like that China money?
“Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.”
Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose.
I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future.
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing.
https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing
“Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.”
“Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.”
Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong.
Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will.
Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way.
Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains.
TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here:
WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though
https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf
Or here:
https://www.mcacquisition.com/investor-relations/default.aspx
Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.”
STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon.
Position: 5000 shares. I will buy short, medium, and long-dated calls once available.

...After his company went public. I had to include that in the title. Maybe now he won't be such a cheap bastard with his GMs. I had no idea Gilbert was now the second richest owner in the league.
Which made me wonder what other owners are worth (the title of this post was almost "why is Tilman Fertitta such a cheap bastard while Joe Lacob spends money like he thinks the shit's gonna rot?").
Which brings us to this handy Forbes list from March:
1. Steve Ballmer (Los Angeles Clippers): $51.4 billion
Ballmer scored a huge win this week for his dream of building a new arena. He bought the Forum for $400 million from the Madison Square Garden Company, which tried to block a new Clippers arena near the Forum in Inglewood, California.
2. Philip Anschutz (Los Angeles Lakers): $11.2 billion
Anschutz owns one-third of the Lakers, plus the arena in which they play, the Staples Center, in addition to the NHL’s Kings. \For those wondering, it's hard to find a reliable source on Jeanie's net worth but according to unreliable sources it's in the ballpark of $500 million*
3. Stanley Kroenke (Denver Nuggets): $10 billion
The real estate and sports mogul owns teams in the NBA, the NHL, the NFL, MLS and the Premier League.
4. Joseph Tsai (Brooklyn Nets): $9.9 billion
The cofounder of Alibaba Group completed his purchase of the Nets last year for $2.3 billion and bought the Barclays Center for an additional $1 billion.
5. Robert Pera (Memphis Grizzlies): $7.1 billion
Pera owns nearly three-quarters of wireless equipment maker Ubiquiti Networks. He was the lead investor in the Grizzlies purchase in 2012.
6. Daniel Gilbert (Cleveland Cavaliers): $6.2 billion
Gilbert made his first fortune from Quicken Loans, the largest online mortgage lender, which he cofounded in 1985 at 22 years old.*List is from March, before the IPO
7. Tom Gores (Detroit Pistons): $5.7 billion
Gores and his brother Alec are both private equity billionaires. The Pistons opened a new $90 million headquarters and training facility in September.
8. Micky Arison (Miami Heat): $5.3 billion
Arison’s net worth plummeted 33% over the past six weeks with the collapse in the stock price of Carnival Corp. The world’s largest cruise ship operator was founded by Arison’s father in 1972.
9. Tilman Fertitta (Houston Rockets): $4.4 billion
Fertitta furloughed roughly 40,000 employees at his casino and restaurant empire to curb the economic impact caused by coronavirus-induced shutdowns. His fortune is derived from his ownership of the Golden Nugget Casinos and Landry’s, a Texas-based restaurant and entertainment company.
10. Mark Cuban (Dallas Mavericks): $4.3 billion
Cuban was one of the first sports team owners to commit to paying hourly arena workers for games missed during the coronavirus crisis. He’s invested more than $20 million as a “shark” on ABC’s popular Shark Tank show.
11. Joshua Harris (Philadelphia 76ers): $3.7 billion
Harris cofounded private equity powerhouse Apollo Global Management in 1990 with fellow billionaires Leon Black and Marc Rowan. He remains a managing director there.
12. Gayle Benson (New Orleans Pelicans): $3.2 billion
Benson inherited the Pelicans and the NFL’s Saints when her husband, Tom, died in 2018.
13. Glen Taylor (Minnesota Timberwolves): $2.8 billion
His printing firm, Taylor Corp., generates more than $2 billion in revenue annually. Taylor also owns stakes in Minnesota’s MLS and WNBA teams.
14. Herb Simon (Indiana Pacers): $2.6 billion
The real estate mogul bought the Pacers with his since-deceased brother, Melvin, in 1983, for $10.5 million. Simon Property Group is one of the world’s largest real estate investment trusts, with 206 properties in the U.S.
15. Antony Ressler (Atlanta Hawks): $2.4 billion
Ressler cofounded private equity firm Ares Management in 1997. He owns a small piece of the Milwaukee Brewers, in addition to his controlling stake in the Hawks.
16. Michael Jordan (Charlotte Hornets): $2.1 billion
The NBA’s GOAT sold a minority stake in the Hornets in September in a deal that valued the team at $1.5 billion. Nike pays Jordan more than $100 million annuallybased on growing sales for the company’s Jordan Brand.
17. Marc Lasry (Milwaukee Bucks): $1.8 billion
Lasry, a hedge fund titan, joined Wes Edens to buy the Bucks in 2014 for $550 million. He was born in Morocco and moved to the U.S. at age 7 with his family.
18. Gail Miller (Utah Jazz): $1.7 billion
Miller transferred ownership of the Jazz in 2017 to a family legacy trust to deter her heirs from selling or moving the team. Gail and her since-deceased husband, Larry, bought the team for $22 million in 1986.
19. Jerry Reinsdorf (Chicago Bulls): $1.5 billion
Reinsdorf led a group of investors who bought a controlling stake in the Bulls for $9.2 million in 1985. Good timing. It was one year after the team drafted Michael Jordan, who led the Bulls to six NBA titles. The team is now worth $3.2 billion.
20. Theodore Leonsis (Washington Wizards): $1.4 billion
Leonsis initially built his fortune as a senior executive at AOL, before investing in sports teams like the Wizards and the NHL’s Capitals.
*Not included on the list but googled for your edification:
DeVos Family (Magic): $5.4 billion
James Dolan (Knicks): $2 billion
Joe Lacob (Warriors): $1.2 billion
Vivek Randive (Kings): $700 million
Robert Sarver (Suns): $400 million
Jody Allen (Trail Blazers): The sister of Microsoft cofounder, Paul G. Allen, took control of the team after his death. At the time her brother was worth $20 billion though he intended to give most of his fortune away...
Boston Basketball Partners LLC (Celtics): An American local private investment group formed to purchase the Boston Celtics
Maple Leaf Sports & Entertainment (Raptors): The Raptors are a subsidiary of MLSE
The Professional Basketball Club, LLC (Thunder): A group of OKC businessmen "who represent a wide variety of local and national business interests" owns the Thunder
Spurs Sports & Entertainment LLC (Spurs): An American sports & entertainment organization, based in San Antonio, Texas owns the San Antonio Spurs

Throughout its first 25 years, Major League Soccer has seen players from all different corners of the globe, each with their own career story. Whether it be a guy like Tim Melia or Chris Wondolowski who were scrappy guys that came out of nowhere to be stars in this league, or world famous names such as Zlatan, Beckham, and Henry, the league's history of big names is as diverse as they come.
Let's take a look at the best player from each country around the globe. This will be based on national team allegiance. Today, we'll be leading with Europe!
Please note that this is my opinion, and in some cases the decisions were tough; I'll be sure to add in honorable mentions where I can, or add notes.
Albania: Shkëlzen Gashi ( COL 2016-18)
Short list to pick from here, as Gashi's only competition is Jahmir Hyka and Hamdi Salihi. Gashi gets the nod, if nothing else, for his huge 2016 season, where he scored 10 regular season goals (one of which was that year's Goal of the Year) as the Rapids damn near won the Shield. The madlad then went and one-upped that with his absurd equalizer in the playoffs against the Galaxy.
His last two years weren't as fruitful, but man, when he was on he could pull something out of nowhere.
Armenia: Yura Movsisyan ( KC 2006-07, RSL 2007-09 & 2016-18, CHI 2018)
Four choices here, although in the end it's Movsisyan winning out over Harut Karapetyan, who played a couple seasons in the 90s for the Galaxy, San Jose, and Tampa Bay. The fourth pick in a strong 2006 MLS SuperDraft out of Pasadena City College, Movsisyan is mostly associated with RSL, who acquired him in a 2007 trade. With the Claret and Cobalt, he would tally 15 goals in 53 regular season appearances, and in 2009 he'd hoist the club's first MLS Cup. That'd be his last game with RSL until 2016 after some time in Europe with Randers, Krasnodar, and Spartak Moscow (even sharing the Russian PL Golden Boot in 2012/13 with Wanderson). He'd put up a similar clip of 16 in 57 before being waived and finishing his MLS career with four scoreless games with Chicago.
Austria: Daniel Royer ( NYRB 2016-pres.)
The choice here was largely Royer vs. Andreas Ivanschitz, who was a regular starter for Seattle's first MLS Cup, but I can't say no to a man with over 100 MLS matches played and three straight 10-goal seasons. In all comps, the former Austria Vienna man is just two goals behind Thierry Henry for third on the Red Bulls' all time goal scoring list.
Belarus: Sasha Gotsmanov ( COL 2005)
Gotsmanov qualifies by default as the only Belarusian player in MLS history. The Minsk native (and son of former Soviet and Belarusian international Sergei Gotsmanov) played one (1) single game for Colorado in October 2005, against RSL.
Belgium: Laurent Ciman ( MTL 2015-17, LAFC 2018, TFC 2019-pres.)
Shouts to Roland Lamah, who had his moments in Dallas, and Jelle van Damme, who played a season and a half for the Galaxy, but Ciman is the obvious choice. While he's fallen off a cliff as he's gotten older, he's a three-time All-Star and won Defender of the Year in his first MLS season; in his second, he played for Belgium at Euro 2016. At 35, he's lost a step and probably should only be used in emergencies, but at his best he was an elite MLS center back that could also be deployed at right back.
Bosnia & Herzegovina: Haris Medunjanin ( PHI 2017-19, CIN 2020-pres.)
The first one where I'm not totally confident in my pick, as Baggio Hušidić made this tricky (and as a Union fan I'm afraid of bias). But at his best, Haris is an assist machine (30 in four MLS seasons so far), and a threat on set pieces; the madlad even scored an Olimpico this year. His left foot is probably the best the Union have ever had. While his commitment to defense was nonexistent, give him the ball and he could spray a pass anywhere.
Bulgaria: Hristo Stoichkov ( CHI 2000-02, DC 2003)
One of three former Ballon d'Or winners to play in MLS (the others being Lothar Matthaus and Kaka, although "playing" is generous for the former), Stoichkov spent the last four seasons of his career in MLS, scoring 22 goals in 72 regular season matches for Chicago and DC. In his first season, a 9 goal in 18 match outing for the Fire, he also won the US Open Cup, scoring the opening goal of the final, a 2-1 win over Miami. (The winning goal, by the way, was scored by our old friend Owen Goal.)
Croatia: Damir Kreilach ( RSL 2018-pres.)
Mr. Miyagi's favorite MLS player for his crane kick equalizer in the playoffs, the former Rijeka and Union Berlin man has proven to be an excellent utility piece and core part of RSL throughout his time there, scoring 26 goals and chipping in 14 assists in 86 regular season matches and playing all over the damn place (naturally a central midfielder, he's probably still RSL's best forward). At 31, he still has a lot to give.
MLS has seen a huge influx of Croats lately, though; before Kreilach's 2018 signing there had only been four Croatian players in MLS history, two of whom barely played. Currently, there are five on active rosters.
Czechia: Luboš Kubík ( CHI 1998-2001, DAL 2001)
Czech players have had a good hit rate in MLS. In his lone MLS season, Bořek Dočkal led the league in assists, and Zdeněk Ondrášek was a very solid piece for Dallas, albeit one whose MLS time was brief.
But no. We have to go with Kubik. The sweeper was Best XI twice, in 1998 and 1999, and won Defender of the Year in 1998 helping Chicago to a MLS Cup-Open Cup double. He'd win another Open Cup two years later, before being traded to Dallas in 2001 and retiring due to injury.
So many lethal counterattacks started on the foot of this man, and he is rightfully seen as one of the greatest defenders the league has ever seen.
Denmark: Jimmy Nielsen ( KC 2010-13)
I debated going WAYYYYYYY off the board here and throwing out Miklos Molnar. His time in MLS was brief, just the 2000 season before he retired, but the man was the best attacking piece on a Cup winner. He could have balled out if he didn't retire early.
But nah. We're going with Casino Jimmy, one of the keys towards Kansas City's early 2010s turnaround. A two time All-Star, Nielsen was Goalkeeper of the Year in 2012, a year that also saw him win the Open Cup with the Wiz (on penalties, because KC and penalties, name a more iconic duo at this point). In 2013, he capped off his career by winning MLS Cup, again on penalties, while playing with broken ribs.
England: Bradley Wright-Phillips ( 2013-2019, LAFC 2020)
This league, man.
The list of English players to have represented in MLS is a long one, full of iconic names. Ashley Cole. David Beckham. Frank Lampard. Steven Gerrard. Jermain Defoe. Wayne Rooney. Hell, even Bradley's brother Shaun.
But nope. Many of those guys are the butt of many MLS jokes. BWP, on the other hand, is one of the greatest goal scorers the league has ever seen, with two Golden Boots to his name and well over a century of league goals. He was a part of 3 Shield winning teams, and made CONCACAF's Best XI in 2018.
And it all started with a quiet trial in 2013 after Charlton dumped him. This. League.
And This. Man. Even as a fan of Philly who doesn't care much for the Red Bulls, I respect this dude and everything he's done. I hope he gets another year after winning Comeback Player of the Year this year.
Estonia: Joel Lindpere ( NYRB 2010-12, CHI 2013)
The only other option here was Erik Sorga, who could dethrone Lindpere as he came to MLS at a very young age. But it's unlikely, as Lindpere was quietly very solid for the Red Bulls during his time. The Tallinn native was a two-time All-Star, and in 2010 he was named the Red Bulls' team MVP.
Finland: Alex Ring ( NYC 2017-2020, AUS pres.)
T O P I C A L
There's a few fairly talented Finns in MLS right now that could make this interesting (I really like Robin Lod's game, and Lassi Lappelainen would be excellent for Montreal if he'd stop getting hurt). Ring however has proven his worth across 4 seasons, including time as NYC's captain. Over 10,000 MLS minutes, mostly for good teams, as a defensive anchor, he will be a fantastic tone-setter for the new Austin team.
France: Thierry Henry ( NYRB 2010-14)
Oh man, as an Ireland fan I wanted to give this to literally anyone else. I am still bitter, dammit.
His best competition is probably Aurelien Collin, who has a closetful of trophies (including a Best XI and MLS Cup MVP). But no...it's Henry.
When a big name comes to MLS, what people want to see is someone who treats the league with respect. Henry did that. Not only was he dominant on the pitch, a three-time Best XI nomination, he also respected the history of the club he played for and gave 100%, even though he was getting up there in the years. He's a Red Bulls and MLS legend...as much as I curse that godforsaken hand
Georgia: Valeri "Vako" Qazaishvili ( SJ 2017-20)
It looks like the San Jose chapter of Vako's career is done and dusted. While the former Vitesse man struggled for consistency, he did put up 26 goals and 13 assists across four MLS seasons for the Quakes, including 10 while being coached by Mikael Stahre, which should probably get him and Wondo some sort of award.
We'll see what's next for him, if he leaves MLS or goes back to Europe. His only competition was Quakes teammate Guram Kashia.
Germany: Bastian Schweinsteiger ( CHI 2017-19)
I'm...actually not sure about this one. I actually changed this while writing, as I very nearly chose Julian Gressel; the former Rookie of the Year has two 10-assist seasons under his belt, and Kai Wagner has also been one of the league's better fullbacks for Philadelphia; Schweinsteiger was solid enough for Chicago in his advanced age for some very frustrating teams (and even moved positions to center back!)...but man, I don't know.
Germany is weird. For a country with such a great footballing tradition, the pickings are fairly slim. Arne Friedrich had one good year for Chicago before injuries claimed his career. Lottar Matthaus was as committed to this league as Schalke are to winning football matches. Stefan Aigner was stifled by Anthony Hudson going galaxy brain. Torsten Frings...existed.
I dunno.
Greece: Alexandros Tabakis ( ATL 2017)
The only Greek in MLS history...and our second one game wonder. Atlanta's FOURTH string keeper in 2017, he managed to sneak into a game against Minnesota with Brad Guzan on international duty, Alec Kann injured, and Kyle Reynish sent off during the match.
Atlanta lost 3-2. He's now in USL.
Hungary: Nemanja Nikolić ( CHI 2017-19)
Dániel Sallói and Krisztián Németh had their moments, but the winner is Nikolić, who came to MLS from the Ekstraklasa and immediately won the Golden Boot. His totals diminished in the three seasons he spent with Chicago, but 51 goals in 96 appearances isn't too shabby at all - it's second in Fire history behind Ante Razov.
Iceland - Guðmundur Þórarinsson ( NYC 2020-pres.)
Not much choice, 3 guys, all of whom were mostly bench guys. I almost went with Kristinn Steindorsson here on the merits of "he didn't have a penalty saved by Rodrigo Schlegel."
Israel: Gadi Kinda ( SKC 2020-pres.)
It was either him or Dedi Ben Dayan, really. And I nearly went with the former Colorado left back, but nah, Kinda is very much the superior player. The midfielder born in Ethiopia, Kinda shone brightly in his first season in KC, with 6 goals and 4 assists in his debut season. He'll be a DP next season.
Italy: Sebastian Giovinco ( TOR 2015-18)
A signing that changed an entire club.
Before Giovinco, the Reds were a laughingstock. He came in, won a Golden Boot and MVP right away, led the league in assists, made Best XI three years in a row, led them to their first playoff game, their first MLS Cup final, their first MLS Cup win, and a historic treble. And they damn near won CCL too.
The Atomic Ant was must-see from Day 1. It's not just because of him that Toronto is now one of MLS's elite...but he was a huge part of changing that culture. 83 goals in 142 games in all comps. And he dished out his fair share of assists too, with a telepathic partnership with Jozy.
Latvia: Raivis Hščanovičs ( TOR 2010)
Not much to write about here. 14 games for a bad Reds team. Gets in by default with no other Latvian MLS players.
Liechtenstein: Nicholas Hasler ( TOR 2017-18, CHI 2018-19, SKC 2019)
Another one by default. 66 games as a utilityman. Won MLS Cup and the Shield, though.
Lithuania: Vytautas Andriuškevičius ( POR 2016-18, DC 2018)
Only other choice was Edgaras Jankauskas, a forward who played 14 games for the Revs. Vytas played 37 for Portland and zero for DC.
Luxembourg: Maxime Chanot ( NYC 2016-pres.)
Another one by default but this one's an actually really solid player that finished fourth in Defender of the Year voting in 2019. We take those.
Malta: Etienne Barbera ( VAN 2012)
2 games in 2012. Only Maltese player in MLS.
Montenegro: Branko Bošković ( DC 2010-12)
Pretty much every other Montenegrin player played less than 20 games in MLS. Bošković played 43 before returning to Europe for family reasons. 7 assists in his final season though, which is technically something.
Netherlands: Johan Kappelhof ( CHI 2016-pres.)
Much like Germany, bright footballing tradition, very shaky MLS history. Which is weird because the Eredivisie exports a lot of guys to MLS.
Also, I'm excluding Kelvin Leerdam, as he is probably changing his international allegiance to Suriname.
So I'm going with 2017 All-Star Kappelhof, who I think is still fairly solid.
But really the choices aren't great. Dave van den Burgh? Roland Alberg scored a hat trick once I guess? Danny Koevermans was decent but injured all the time?
Maybe it's a hot take. It probably is.
North Macedonia: Oka Nikolov ( PHI 2013)
Never actually played, only in a friendly. Watch this space though as North Macedonia is apparently courting LAFC's Danny Musovski.
Northern Ireland: Johnny Steele ( RSL 2012, NYRB 2013-14)
Another case of shaky opposition, it was either Steele or Steve Morrow, who played 41 games for Dallas in the aughts.
Steele played regularly for a Shield winner, the 2013 Red Bulls. Easy peasy.
Norway: Vadim Demidov Ola Kamara ( CLB 2016-17, LAG 2018, DC 2019-pres.)
Adama Diomande is the main competition here. Kamara's first stint in MLS was a smashing success, scoring 48 goals in 90 regular season matches for Columbus and the Galaxy (he was traded for Gyasi Zardes before 2018). A brief foray to China followed, and while he's back in MLS with DC he hasn't quite been the same.
Still a good player on his day, maybe just the Bennyball effect.
Poland: Piotr Nowak ( CHI 1998-2002)
When I think of early Chicago, Nowak and the earlier-mentioned Kubik are the first two names that come to mind. Kubik held down the back while Nowak was the chief creator in the midfield. Three-time best XI, three-time All-Star, and MLS Cup MVP.
...can I drink my water now?
Portugal: José Gonçalves ( NE 2013-16)
Gonçalves fell off a cliff in his latter years, but in his first MLS season he won Defender of the Year and in his second he was a key part of a team that made the MLS Cup final and damn near won the thing.
Runner up here is Nani who is probably closing in.
EDIT: I also forgot to mention Pedro Santos, thanks to the Crew fans who pointed that one out. I still think Gonçalves pips him for his 2013 if nothing else, but Santos is probably closer than Nani.
Republic of Ireland: Robbie Keane ( LAG 2011-16)
A LOT closer than you think; Time Person of the Century Juventus legend Ronnie O'Brien was two-time best XI himself.
But nonono. This is Robbie freaking Keane. When we see these big name Euro guys interested in MLS, this is the man we want them to be.
Hypercompetitive and holding guys accountable on and off the pitch, and scoring for fun. 83 goals in 125 MLS regular season appearances. Best XI four times. 2014 MVP. MLS Cup MVP in 2014. A closetful of team awards including 3 MLS Cups.
This man was a baller, and frankly his departure was the beginning of the Galaxy decline into irrelevance, but that's a story for another time.
Romania: Alexandru Mitriță ( NYC 2019-pres.?)
Question mark because he's on loan and I have no idea if it'll be permanent, but he was punted out by the Pigeons just as he was really starting to break out. He scored 12 goals in his debut season last year but filled in nicely this year while Maxi Moralez was injured. EDIT: NYC fans have informed me he wasn't punted out, but was loaned out to be closer to his pregnant wife. My apologies.
Honorable mention: Alex Zotincă, who played for the Wizards and Chivas USA in the aughts. Brave man.
Russia: Igor Simutenkov ( KC 2002-04)
Not a lot to pick from here either. 49 games, 12 goals for this forward from Moscow, who now serves as an assistant coach at Zenit.
Scotland: John Spencer ( COL, 2001-04)
Give Johnny Russell another few years and he'll pass Spencer, but for now I'm leaning the latter. Spencer as a coach was frustrating as hell, but as a player he was Best XI twice and an MVP finalist once. Dude could score goals despite battling injuries in his time in MLS.
Just don't let him sign Kris Boyd. Then you lose to Cal FC. No one wants that.
Serbia: Aleksandar Katai ( 2018-19, 2020)
FROM A SPORTING PERSPECTIVE.
And mostly due to a weak pool. Runner up was probably someone like Miloš Kocić.
18 goals in 62 games for Chicago before getting yeeted back to Serbia for Bad People Reasons
Slovakia: Albert Rusnák ( RSL 2017-pres.)
He has tenure on Ján Greguš, who's the closest competitor, but Rusnák is also good. He followed up a 14-assist debut season (4th in the league) with back to back 10 goal seasons before struggling this year with injury.
Slovenia: Robert Berić ( CHI 2020-pres.)
Once he got acclimated to MLS, the goals came, and Chicago has its successor to Nikolić up top. He finished with 12 goals in his debut season, tied for second in the league with Ruidiaz and Zardes.
Also, from what I saw early on, seems like he's a dark-arts type of guy that gets in your head. That's fun.
Spain: David Villa ( NYC 2015-18)
I really didn't want to put him here due to recent allegations, and the fact that Pozuelo has already matched his MVP and two Best XI performances....
77 goals in 117 games though, that's tough to pass on.
Sweden: Zlatan Ibrahimović ( LAG 2018-19)
It's Zlatan.
He pretty much dragged a sorry LA organization to something resembling competitiveness.
What the hell did you expect?
(Anton Tinnerholm made this hard, though)
EDIT: Forgot Gustav Svensson as well in my honorable mentions.
Switzerland: Stefan Frei ( TOR 2009-13, SEA 2014-pres.)
Pretty self-explanatory, one of the most accomplished keepers in MLS history and with a closetful of hardware. And all it took Seattle to get him was a late first round pick that pinged around so much that it was eventually traded for a coach.
Turkey: Sercan Güvenışık ( SJ 2012)
5 games that year. No one else has flown the Turkish flag in MLS.
Ukraine: Dema Kovalenko ( CHI 1999-2002, DC 2002-05, NYRB 2006-08, RSL 2008, LAG 2008-10)
I'm afraid he'd break my legs if I didn't. One of the most physical and downright dirty players the league has ever seen. Made nearly 300 appearances though, and has one each of the 3 major US trophies (MLS Cup, USOC, Shield), all with a different team.
Wales: Andy Dorman ( NE 2004-07, 2013-15)
Dorman was a key part of that real good Revs team from the mid-aughts, and just beats out Carl Robinson. He made 112 appearances in his first stint, and played in 3 MLS Cup finals, though they famously lost all three. The Revs brought him back in 2013 after some time in Scotland and England, and was playing semipro in the area as recently as 2018.

This is gonna be a really long, rambling post about gacha, gambling, addiction, psychology and ethics. If you want the TL;DR, here it is: Joey and Garnt are at the very least irresponsible influencers, and at the very worst they might have a serious addiction that stems from a low dopamine life-style.
We all most likely watched the episode and know what happened and what was talked by who, but for further context, if you are unaware of anything, even after the memes, on the last episode of Trash Taste Podcast, specifically in the last 40 minutes of it, the Boys discussed (and argued) about the gacha game scene and gambling addiction. You can check it out on the sticky post on the top of the subreddit front page.
To cut it short, Connor argued that gacha games are just as if not more dangerous than actual gambling, specifically for a few reasons. First, it is a game of no return. In real life gambling, you can (fleetingly) get real money back from it, and even make a considerable profit. Gacha games simulate the act of gambling while offering no significant reward or value other than a measle amount of dopamine and a cute character to play with. Secondly, the game is marketed towards older kids, teenagers and young adults on an age range of 12-25 years old, an age group where most individuals are either not mature enough to manage their money safely or even financially independent at all, with most people in this range not even being active members of society yet. Furthermore, the gacha-gambling model is largely unregulated and unsupervised by authority figures, be it responsible adults, laws or any other regulating institution.
To this, Garnt (largely) and Joey (in a lesser but still significant way) responded that, while they agree no one should be able or willing to spend such large amounts in these games, they do not pose significant harm to most people, and even further, can present justifiable value enough to be acceptable in their current forms, with minor changes. At one point, Joey expressed the idea that if these games made it difficult for him to spend money, he would mostly just not play them at all rather than go free-to-play. Garnt attempted to defend the idea that spending on these games was not necessary and going the F2P route was not only possible, but easy. He himself, however, admitted to that not being the case with him.
This is the thick and short of it. Now let me get into the main argument this post is attempting to make.
Connor's position along the entire discussion was entirely and utterly reasonable, and not only that, but even after being soft-gaslighted into being less harsh on his stance, he still was the only one willing to take the problem seriously at all.
Garnt and Joey, kn the other hand, began the discussion with an ironic and memey tone, not taking it at all seriously. When Connor's stance didn't change and his points began hitting a little too close to home, that's when they got defensive of their point and tried to appeal to various fallacious arguments and unbelievable takes. Most notably, Garnt defended that "If you have a problem with gambling or if you have poor self-control, you just should not be playing Gacha Games", which beyond being obvious, is a bonkers thing to say. It would be akin to saying "if you feel depressed or suicidal often, you should just ask for help and not kill yourself" or "if you have a drug problem, maybe don't go buy drugs". It is a statement that hides behind it's obvious correctness to take away attention from the fact that this adds nothing of value at all to the discussion,nor does it make for a suitable defense of the system that gacha ganes operate in.
The first big problem with this entire thing is that the three of them, both in the podcast and with their individual channels, have a great influencing power. Having your opinion, no matter who you are, broadcast to over a few hundred thousand people world-wide is bound to influence or resonate with some of the audience. When the person in question is a respected figure, speaking to an audience of admirers or fans, most of which at a young age, and within a subject matter of interest to the audience, the influence rate will grow even bigger. In this midst, there is statistically no way at least a handful of people didn't watch this episode and felt like they had their actions justified. Add to this that the gacha community at large is either aware but indifferent to the similarities it has to gambling, or straight up defensive of the entire model, and you have a pretty dangerous mixture of things here.
The second issue I see and hope to convey on this matter is that both Garnt and Joey seem unaware of just how scummy and messed up the tactics behind gacha games are. It's not just rate manipulation and constant advertising. The entire development process is centered around creating the perfect space for you to spend copious amounts of money without feeling that you really spent them. It goes so much deeper than just making cute girls to sell you. From the game page on the app store you get it from to the main menu, to the game design, to the in-game systems, to the rates, to the promotions, to the update cycle, to the end game, to the daily challenges, EVERY LITTLE ASPECT of it is engineered to rewire your bain into believing that it's not that bad to spend, and having the desire to do so more often than you reasonably would.
This is a very important one, amd Connor briefly touched on it in his rant. Cassinos, actual gambling places, build and thought to make you spend and lose, are like a glass door compared to the five inch lead wall that is the gacha strategy. They show you the rates at all times. They offer you the option to set yourself a limit. They make you aware that you are spending money, they cap the age at a minimum of 21, they have a lot of systems in place to control bad spenders. Of course, most of those came from law and regulations, but even before that, back in the 18th amd 19th centuries, no normal adult would advocate or defend that 12 to 18 year olds should be able to gamble real money into pieces of paper or cardboard cutouts. So imagine thinking, for even a moment, that what gacha games do is even close to okay. It is not, by any measure, morally, ethically or lawfully, okay.
But it gets worse. Way worse. Here is where I began actually worrying about the boys, in particular Joey and Garnt, the latter most of all.
They seem to actually believe that the above exposed is somehow justifiable based on little doses of dopamine, memories and the abstract idea of "the experience" you get. They compare spending ONE HUNDRED DOLLARS on a game to get TWO DIMENSIONAL IMAGINARY GIRLS to a night out with friends where you spend a hundred dollars in food or drinks.
What the actual f*ck.
This is not just bad. It's really, really bad. It's unreasonably and unbelievably absurd. It nearly collapses the entire concept of reality from just how bad a take this is.
No. No, no, no. NO. In no way, in no conceivable theoretical way, one of those things is comparable to the other. Never. This is the type of thing that depressed people tell themselves to justify self destructive behavior. Spending copious amounts of disposable income into games just to get "a daily dose lf dopamine" going is insane. Just for reference, you can get dopamine for free by doing any of the following:
Exercising
Finishing a task-list
Cleaning your room
Working on a passion project
Playing any sport, specially with friends
Going for a walk with you pet
Having a conversation with a friend or significant other
Having a good meal
Waking up from a good nap
Watching a fun movie
Traveling
Hiking
Riding a bike
Radical sports
Reading a good book
Seeing a long-time relative or friend you missed for a long time
Getting a hug
Having sex
Sleeping cuddled with you SO
Holding hands
Kissing
Watching the sun set/rise
Going to the beach
Camping
Playing an actual good videogame that isn't f*cking Genshin or FGO
This is not an exhaustive list. It's literally just things I thought off the top of my head while writing this. Some of those activities require some money to do, and some are impossible during the pandemic. But most of them are free/cheap and easy to do at home or with little to no contact with anyone.
If getting a good pull in a lootbox virtual casino is the best way you can think of to get any dopamine release, or if that release is so significant to you as to justify spending more money than some people make in a week, then I'm sorry, but you have a serious problem. I mean it. I know the Boys can do most or all of those things listed up there and much more. I know for a fact they are not in a situation of loneliness, vulnerability or isolation, even in the current world situation. So why is it that Garnt thinks gambling is a good solution for boredom in the quarentine? Or why did Joey insinuate that making it harder for him to spend money would just make him drop the game?
And if these two, that as I said are in a very privileged spot of having easy access to healthy ways to produce dopamine and conquer isolation, are having this kind of relationship with these games, what's to say of people around the world, including many of their listeners/viewers, who either live alone and/or have no perspective of a successful career with easy access to basically limitless disposable income like they do? What's to say of the teenagers who spend all night up playing games, watching anime, jerking off and stealing their parents' credit card to buy pulls? What's to say of the depressed university students who have a shitload of debt thrown at them and live an isolated, virtual life right now? What about them?
Joey and Garnt might not have any problem controlling themselves, or have enough money to waste such that a thousand dollars into gachas doesn't feel unreasonable, no matter how actually unreasonable it is. But they are either ignorant of the actual problem, or (and I sure hope I'm completely off on this one) completely unemphatic to their struggles. Because "Just don't play" is not a thing someone with empathy for the gambling addicts would say. Connor was deadass on this one.
And that leads us to the final nail in this horrific, goldplated coffin. The memes.
Yes, the memes.
There are so many memes. Garnt mentioned that "no one memes on the guys going bankrupt" while doing just that for half an hour. The entire gacha culture is basically a serious sociological and psychological problem deep-rooted into the heart of the zoomer generation. And yet it wears a mask mad e of memes, that hides the actual problem under a nearly impenetrable layer of irony, self-pity and depressive jokes. But the subject is not that funny under the magnified lens of a closer look.
The easygoing demeanor with which gacha addicts and casual underaged gamblers treat the entire thing is so light on the mood, so soft on the eyes, that you may just forget that those people might be ruining their lives. It's not a joke. It should not be treated like one. The meme culture around gacha fames has created more gambling addicts among 15 and 16 year olds than any illegal casino would ever dream of. These young people are just laughing away ridiculous sums of money for a teenager to spend, and feeling none of it until it is too late to go back and give up.
I am not trying to guilty trip any of the Boyys here, nor am I accusing them of being apologetic of underage gambling. I'm just trying to put this entire thing under a serious light. Because it needs someone to do so. This post comes from a place of worry and love, not one of disrespect or accusations. I simply want the Boys to look at this in a responsible way.
I might be talking to the walls here. I might really be just shouting in the vacuum. But if I can try to make my voice be listened to, I will. Because I must. If you read all the way down to here, I have two more things to say.
One is: please, do not let the monetization model these games operate in get to you. If you've spent any amount of money on them and feel tempted to continue, I insist you don't. If you have only ever played them without spending, and are still having fun, you're free to do so, but tread carefully.
And the other is: gacha mechanics can ruin much more beyond your financial wisdom. They are actively harmful to the games industry as a whole. Instead of making good games out of passion, these developers are being led to create mediocre games out of greed from the higher ups. If gou care about gaming at all, or if you just give a shit about an industry many people love, I request that you understand why gacha games are a bad sign, and that you spread that awareness, if you can. This is a really important subject to me and I think ut should be to other gamers as well.
Thank you for reading. Have a great day. Save your money.
P.S.: Garnt, Joey and Connor. If you guys read this, I love you and what you do. I listen to this podcast almost religiously, and I really enjoy all of it. Please, take care of yourselves and have a great 2021. Peace. (This is a shot in the dark, the chances of them reading this are so low I feel almost stupid. But hey, I tried huh?)

Introduction
We're all familiar with the Hotline Miami's, Hollow Knight's, and Celeste's of the world. These are some of the indie games that hit the big time. Of course, for every one of these games, there's 100 other indie games that have been glossed over, relegated to a spot in a digital store few people will ever find themselves in. I wanted to bring attention to some of these lesser known indie games.
I'm going to order them according to Metacritic Critic Ratings. Some of the games towards the bottom have a pretty low rating that I personally disagree with, but it's only fair that you hear from more than just me. While the reviews are low for some games, this is partly due to how few reviews there are for some games. #19 on the list has a 49% for the Xbox One version of the game due to it only having two reviews, while the PlayStation 4 version has a 90% rating due to it only having one review, despite both versions being functionally the same. This high level of variance usually occurs when a game only has a few reviews.
Price will include a link to the U.S. store page of the game. Price is in U.S. dollars.
1. Inertial Drift

• Includes a Separate 2 Player Local Competitive/Versus Multiplayer Mode
  
• Price: $19.99
  
• Picture: Link
  
• Trailer: Link
  
• Genre: Racing
  
• Metacritic: 84% from 5 Critic Reviews, 80% from 2 User Ratings
  
• Description: Inertial Drift's distinguishing characteristic is its employment of the right analog stick for drifting. This takes a little getting used to, but it feels great once you get the hang of it, creating some exhilarating moments when perfecting corner turns. The game has 10 unique tracks + 10 reversed tracks, 16 vehicles, and four separate story arcs. Each story arc is only a couple of hours long and features a different protagonist with a different vehicle. Since you’ll be racing on the same track a few times, there are a few gameplay variations that differ from just reaching the finish line at the end, such as racking up a certain number of points that are acquired through longer drift times and other means. There's quite a bit of dialogue between races, and in the races themselves characters will frequently dish out positive commentary on your performance in the form of text in the top left hand corner of the screen. The game's aesthetics are a fusion of anime and synthwave. I've heard many fans liken the game to the manga Initial D, though I'm unfamiliar with that series myself.
  
• Completion Time: ~3 Hours (for 1/4 Story Arcs)
  
• Extra Content: There are a number of different modes including a Story Mode, Challenge Mode, Grand Prix Mode, Arcade Mode, two player Split-Screen, and Online, as well as a Tutorial. Completion of challenges in Challenge Mode allows you to unlock new vehicles for the other non-Story Modes. Grand Prix Mode allows you to race using different characters/vehicles through a connected set of challenges, while Arcade Mode is for one-off races. I wouldn't recommend this game for online play as the user-base is pretty small (hence it being overlooked) and you're unlikely to find a match. Getting all the achievements is fairly difficult.
  

2. Cursed Castilla (Maldita Castilla EX)

• Price: $11.99
  
• Trailer: Link
  
• Genre: 2D Action Platformer
  
• Metacritic: 81% from 12 Critic Reviews, 78% from 33 User Ratings
  
• Description: This is an action platformer that emulates arcade games from the latter half of the 1980s, but it is probably most reminiscent of Super Ghouls 'n Ghosts. The creator, Locomalito, states that the soundtrack uses the true arcade sound of the YM2203 chip. The game is hard, but the checkpoints are never more than a minute or two apart, and the lives' system/continue system has no penalties outside of locking you out of achievements. This is a very boss dense game - in the ~4 hour run-time it takes to complete the game, you fight 19 bosses. The handful of weapons and items you pick up helps lend variety to the combat, and no two boss fights feel the same.
  
• Completion Time: ~4 Hours
  
• Extra Content: The game has two endings. Most players will get the bad ending the first time around and be locked out of the final stage (which is the longest stage in the game). You do have to play through the game again to get the good ending, but you'll likely do it in half the time. If you want to see all the major content on your first go around, I recommend looking up how to get the good ending before you play the game. If you do achieve the good ending on your first playthrough, the completion time is probably closer to six hours. As far as achievements are concerned, 100% completion is very difficult to obtain. If you like an extreme challenge, this one's for you.
  

3. Valfaris

• Price: $24.99
  
• Trailer: Link
  
• Genre: Run & Gun
  
• Metacritic: 80% from 8 Critic Reviews, 79% from 9 User Ratings
  
• Description: Valfaris acts as a continuation of Slain - the developer's previous work - but it’s not necessary to play Slain first to understand the story of Valfaris. While Slain was mostly just a slightly above average action platformer, Valfaris is one of the best run & gun games I've ever played. You play as Prince Therion who returns to his home planet of Valfaris on a quest to kill his father. It's themed around a fictional planet and has a gross alien vibe coupled with heavy metal music. The music doesn't override the other audio in the game, and it does a nice job of upping the ante when you're fighting a boss – of which there are many. You're equipped with a primary gun, a more powerful mana-based gun, a sword, and a shield that can block with mana or parry.
  
• Description Continued: There are a number of weapons to acquire throughout the game, and the guns in particular do a great job of feeling different. You’re able to upgrade your weapons with Blood Metals. Some Blood Metals are found in plain sight, others are rewarded for defeating a tough enemy, and some are given for going off the beaten path. These upgrades typically just up the firepower but will sometimes introduce a secondary move to your weapon. There are checkpoints every two minutes or so, and most bosses will have a checkpoint just before them (only the weaker bosses come after a gauntlet of enemies). The game is a little hard at points, but overall it strikes a nice balance of feeling accomplished for overcoming the challenges without getting overly frustrating.
  
• Completion Time: ~8 Hours
  
• Extra Content: There are a few secrets to find throughout the game that are off the beaten path, though I was able to find 2/3 of them on my first playthrough. I found all but one weapon as well. The replayability comes from New Game+, which allows you to take all your upgraded weapons into a harder version of the game. Since the weapons all function a bit differently, this can be lots of fun. There are also some achievements that test your skills further, like finishing the game in two hours or beating the game with 10 or less deaths.
  

4. Pumpkin Jack

• Price: $29.99
  
• Picture: Link
  
• Trailer: Link
  
• Genre: 3D Action Platformer
  
• Metacritic: 80% from 8 Critic Reviews, 60% from 10 User Ratings
  
• Description: This is a 3D platformer that reportedly takes inspiration from both MediEvil and Jak & Daxter: The Precursor Legacy. There’s about equal amounts of platforming and combat in this game. While the combat is relatively simple, you’re given a variety of weapons that all feel unique. The levels have a good amount of variety within them – you’ll jump between ships on a ferry ride, ride an undead horse through the sky, play a few mini games as a headless Jack, and fight a boss at the end of each of the six levels. Both the combat and platforming are relatively easy – platforms are typically large and Jack has an edge grab that helps tremendously, and smashing the many destructible objects around the levels increases your health. This game takes the linear adventure approach, with a number of collectibles sprinkled throughout the levels: crow skulls, presents, and gramophones. Some areas are more open and allow you to choose the order in which you do certain tasks. The game has a decent amount of dialogue in it, which does an effective job of giving some character to Jack, his two animal companions, and the rest of the cast. The visuals and soundtrack are particularly great, especially if you’re into Halloween themed media.
  
• Completion Time: ~4 Hours
  
• Extra Content: There’s collectibles to back for – I got about 2/3 of the collectibles on my first playthrough – skins to unlock – which are purchased with the collectibles you find in the levels – and you get to start a second playthrough with all the weapons already unlocked at the beginning
  

5. Pato Box

• Price: $14.99
  
• Picture: Link
  
• Trailer: Link
  
• Genre: Punch-Out-like 3D Action Adventure
  
• Metacritic: 80% from 1 Critic Review, 80% from 1 User Rating
  
• Description: Pato Box follows an anthropomorphic duck boxer on an adventure through a stylistic noir comic book world. “Pato” is a Spanish word that translates to “Duck” in English (the game was developed by a Mexican studio). The boss fights are heavily inspired by Punch-Out’s gameplay, but there are levels outside of these fights to help differentiate it. Most of the levels can be selected in any order you choose and typically serve as a leadup to the boss fight. Bosses are usually introduced by a cutscene followed by some dialogue taunting Pato Box. The levels play entirely differently from the fights, but the themes of the level match those of the bosses. The levels will employ various elements of evasion, stealth, exploration, and a few time-based mini-games. The casino level, for example, will have you walk around the casino looking for chips and punching the slot machines to earn enough to pay entrance to the fight, while the food factory has you evading stompers, sawblades, and butcher knives as you work your way through the level.
  
• Description Continued: There are variety of things to find throughout the levels: tokens for decorations in Pato Box’s room, backstory on the boss of the level and the world, and tips on how to win the upcoming fight. The fights themselves lock Pato Box in the middle of the screen, allowing you to block, juke left or right, and perform a low or high jab to the left or right. Bosses are dynamic and have a number of different phases to fight through. The game foregoes a HUD in favor of a visual representation of your health via scars on your body, which I thought was a nice touch. While the levels and bosses play pretty differently from each other, they’re weaved together by a dark and intriguing story that follows Pato Box’s quest for retribution against an evil corporation.
  
• Completion Time: ~7 Hours
  
• Extra Content: There’s an Arcade Mode that lets you replay boss fights and some collectibles to find in the main campaign. The achievements are very difficult, and many ask you to beat a boss without taking a single hit.
  

6. Ultra Hat Dimension

• Price: $4.99
  
• Picture: Link
  
• Trailer: Link
  
• Genre: 2D Level-based Puzzle Game
  
• Metacritic: 80% from 1 Critic Review, 60% from 1 User Rating
  
• Description: Ultra Hat Dimension follows Bea through a series of rooms in a palace on a quest to undo the magical spell that has made the mythical Spluff creatures want to attack one another. There is a little bit of backstory via one sentence thoughts from Bea in between levels, but nothing major here. The gameplay revolves equipping four different types of hats and using them to evade or push Spluffs around to retrieve the key and reach the door. Each Spluff dons one of four different hats which effects their behavior towards other Spluffs and you. You will be punched one tile back by every Spluff unless you’re wearing the same hat as the Spluff. Spluffs interact with one another differently depending on what hat they’re wearing in a rock, paper, scissors kind of way – they may punch a Spluff back one space, get into a scuffle that allows you to get close to them without wearing a hat, or they may temporarily disable them in a way that allows you to access the space the Spluff consumes within eight moves. There are undo and reset buttons included that allow you to quickly rewind mistakes. There are some clever puzzles accompanied by catchy tunes and a charming pixel art aesthetic. The difficulty is about average.
  
• Completion Time: ~3 Hours
  
• Extra Content: Since this is published by Ratalaika Games, getting all the achievements can be obtained after only clearing 2/3 of the levels. There are a few custom maps on the PC version of the game but no additional content on consoles.
  

7. Momodora: Reverie Under the Moonlight

• Price: $9.99
  
• Trailer: Link
  
• Genre: Metroidvania
  
• Metacritic: 77% from 6 Critic Reviews, 72% from 15 User Ratings
  
• Description: Usually with Metroidvanias, I expect a long, difficult game that's difficult to navigate. Momodora: Reverie Under the Moonlight is a counter to those ideas while still maintaining the exploratory nature of the sub-genre. The plot is pretty simple and doesn't feature a ton of story, but there are a few NPCs you talk to throughout your quest. The combat is also fairly simple, but the boss fights you engage in are all great. Without much weapon customization, it's stripped to the basics of dodging enemy attacks while trying to get a hit in. It makes for a game that's easy to get into and instantly start enjoying. All of the areas are visually appealing, some more than others, and each of them lasts shorter than you'd expect. The game is only around 3-5 hours, but it feels like you've played so much more in that time. Some games only really start to take off by the time this game finishes.
  
• Completion Time: ~4 Hours
  
• Extra Content: Getting 100% map completion should only take an hour or two of cleanup. I did miss an optional boss on my first playthrough. There are also items to discover, and the achievements give fun challenges to extend the life of the game. One cool thing I liked was that beating a boss without getting hit at all gives you a useful item. It also features New Game+, allowing you to carry over most of your items, making the game more difficult, and changing up enemy placement.
  

8. The Count Lucanor

• Price: $14.99
  
• Trailer: Link
  
• Genre: Top Down Adventure/Horror
  
• Metacritic: 77% from 3 Critic Reviews, 80% from 1 User Rating
  
• Description: The Count Lucanor’s story is very fairy tale-esque – more like a classic fairy tale as it can be pretty dark and grotesque at times. On his 10th birthday, Hans chooses to leave his mother in a quest for wealth. After some walking and conversation with NPCs you find along the way, you stumble upon a large mansion and find that the count of this mansion is looking to pass his wealth onto an heir who can prove himself worthy – “worthy” in this case being the one who can figure out the count’s name. From here, you are tasked with adventuring through the mansion and solving environmental puzzles in a nonlinear way to acquire the letters that spell the count’s name. There is a survival horror element to the game, as you are unable to attack the enemies in the mansion and instead must crawl under tables and find other ways around them. You can place candles around the mansion to light it up to help you better evade enemies, but your usage is limited (though you can find more).
  
• Completion Time: ~4 Hours
  
• Extra Content: There are five different endings and some puzzles/rooms you don’t even have to do. This could double your playtime – maybe even more if you don’t use a guide. You have to get all five endings and do some other miscellaneous stuff to get all achievements, but it has a relatively high completion rate.
  

9. Late Shift

• Price: $12.49
  
• Trailer: Link
  
• Genre: Interactive Film
  
• Metacritic: 72% from 16 Critic Reviews, 70% from 36 User Ratings
  
• Description: If you liked Detroit: Become Human or Until Dawn, Late Shift will be right up your alley. This game is a bit different from both those titles in that it's an FMV, with the gameplay solely consisting of the choices you make. You receive prompts at key moments in the story on what you want your character to do next, and this effects the outcome of the game. It plays more like Black Mirror's Bandersnatch, though this game came before it. The story follows an everyman who gets tangled up in London's criminal underground just as a result of being in the wrong place at the wrong time.
  
• Completion Time: ~1.5 Hour Completion Time*
  
• Extra Content: There are 180 choice points and 7 different endings. I only got 4 out of 21 of the achievements on my first playthrough. There are a number of different routes to take with the game.
  

10. Unbox: Newbie’s Adventure

• Includes a Separate 4 Player Local Competitive/Versus Multiplayer Mode
  
• Price: $29.99
  
• Picture: Link
  
• Trailer: Link
  
• Genre: 3D Collectathon Platformer
  
• Metacritic: 71% from 10 Critic Reviews, N/A from 0 User Ratings
  
• Description: Unbox takes heavy inspiration from Banjo Kazooie and other collectathons of the fifth generation but has levels far larger than any Nintendo 64 platformer. Fortunately your customizable character can cover huge amounts of ground very quickly via the unbox mechanic, which is basically a super jump you can use up to six times before you need replenishment via item pickups or checkpoints. Both the jump and unbox mechanic are tied to the shoulder buttons, which takes some getting used to but is ultimately one I’m in favor of, as it allows for camera control without removing your thumb from the jump or unbox buttons. The high speeds you can travel make for some great exploration, but the game is still able to disable your ability to unbox by giving you a “fragile” item, allowing for more carefully considered platforming sections.
  
• Description Continued: Each of the three major worlds have four major collectibles: 200 gold tape, 10 caged zippies, 18 stamps, and 1 super stamp rewarded upon defeating the boss of the world. There is also a hub world that has just 200 gold tape to collect. The 18 stamps are the jiggies or stars of the game, and they’re primarily what you’re after to advance the game. 9 of them are hidden across the world, while the other 9 are given by NPCs upon the completion of a task: Digi will ask you to take an item from point A to point B with some platforming in between, Dash will ask you to complete three races around different areas of the map, Superbox will ask you to destroy 20 enemies in X amount of time, etc. The other collectibles simply unlock more cosmetic options for your character.
  
• Completion Time: ~7 Hours
  
• Extra Content: The game only requires you collect 2/3 of the stamps to beat the game. If you want to collect all the stamps, zippies, and gold tape, this could more than double your playtime, as the worlds are massive and finding all the gold tape is a daunting task, though they do make a distinct noise when you are near them once you’ve collected half of them in a level. Your friendly companion Bounce will also give you visual clues on where to find whatever collectible you might be stuck on. I was able to find all the collectibles in the first world but three gold tape with next to no issues, though Bounce helped me with the remaining three. I really have to commend the developers for their inclusion of both audio cues and visual guides built within the game to guide you to collectibles – it makes collecting every last thing a lot less tedious. The high speeds of your character allow you great traversal of the world, which also helps with collecting everything. The achievements require you to collect everything. In addition to the single player campaign, there are quite a few local multiplayer modes for up to four players – these include Boxing, Collect, Thief, Oddbox, and Delivery. The developers go into more detail on each mode here.
  

11. Spark the Electric Jester 2

• Price: $19.99
  
• Picture: Link
  
• Trailer: Link
  
• Genre: 3D Sonic-like Action Platformer
  
• Metacritic: 70% from 1 Critic Review, 70% from 1 User Rating
  
• Description: This is the sequel to the original 2D PC exclusive from 2017, with another 3D sequel currently in production. If you care at all for the story, it’s recommended you play or at least read about what happened in the first game. Spark 2 actually follows Fark, another jester. Spark 2 emulates many of the high speed moments found in 3D Sonic games, but brings a few ideas of its own. In particular, action is a bigger focus in this game, though platforming is still the priority. Enemies are easy enough to run past with a few exceptions for mini bosses at the end of some levels and the nine main bosses. In addition, enemies can also add to your score.
  
• Description Continued: In addition to Fark’s expanded move-set in combat, he also has the ability to double jump, dash, and wall jump. The jumps give you a lot of air time, lending more leniency to the platforming, and the dash is great for building momentum. There’s quite a bit to explore in each level too – jumping off ramps in the middle of loopdeloops will sometimes result in you finding the game’s main collectible, floppy disks. Fark can also acquire four additional costumes found within the levels that offer some variation in abilities. The game offers five difficulties at the start, with it recommending the second easiest option, Normal, as the default way to play your first time through. Bosses on this difficulty are fairly easy provided you’re competent with timing when to use your shield, though I did lose once or two against a few of them.
  

12. Remothered: Tormented Fathers

• Price: $29.99
  
• Trailer: (Slightly Graphic) Link
  
• Genre: Survival Horror
  
• Metacritic: 68% from 7 Critic Reviews, 80% from 36 Ratings
  
• Description: Remothered: Tormented Fathers feels very old school in its design philosophy - no weapons outside a few self defense items and distraction items. You go back and forth in the mansion and have to learn the layout and where things are to proceed. You have to manually select the key item from your inventory to use on triggers (but a key icon is still shown to guide you a little). The sounds in this game do a great job of evoking tension, and I appreciate that the stalkers don’t seem to teleport, so if you can get away from them, you’ve earned your freedom for awhile. This is the first game in a loosely connected trilogy. The second one - Remothered: Broken Porcelain just released last month, but I've heard it's pretty buggy at the moment and not recommended in its current state.
  
• Completion Time: ~6 Hours
  
• Extra Content: There are some collectibles you can go back for, but not a whole beyond that. You’ll probably get most of the achievements – if not all, except the collectibles one - on your first playthrough.
  

13. Four Sided Fantasy

• Price: $9.99
  
• Trailer: Trailer
  
• Genre: 2D Puzzle Platformer
  
• Metacritic: 68% from 4 Critic Reviews, N/A from 0 User Ratings
  
• Description: The premise of the game is a fusion of side scrollers and oldschool fixed screens that teleport you to the opposite side of the screen when you pass through one side - think Pac-Man, arcade Mario Bros., or Balloon Fight. You will find obstacles in your path that are impenetrable in a typical side scroller, but can be overcome by holding a button to turn the screen into a fixed screen that allows you to pass through one side and out through the other end. This is a totally unique take on a puzzle platformer I haven't seen before, and all five worlds bring something new to the table. For example, World 2 will flip you upside down when you pass through a screen, allowing new types of challenges as a result. There's more emphasis on the puzzle elements than the platforming.
  
• Completion Time: ~2 Hours
  
• Extra Content: There is a New Game+, but from what I could tell from the beginning it wasn't a whole lot different. Still, there's an achievement for completing New Game+ and some other fun achievements.
  

14. SINNER: Sacrifice for Redemption

• Price: $18.99
  
• Picture: Link
  
• Trailer: Link
  
• Genre: Soulslike Action Adventure
  
• Metacritic: 66% from 11 Critic reviews, 53% from 11 User Ratings
  
• Description: SINNER is a Soulslike boss rush - there are no levels and only small area before each boss to practice your moves. There are eight bosses, the first seven allowing you to fight in any order, each representing the seven deadly sins. You are equipped with everything the game has to offer from the beginning (except for the New Game+ weapon they give you), and instead of becoming more powerful, you gradually lose things with each boss you defeat, hence the “sacrifice” in the title. It’s like a reverse RPG. Each boss has a different sacrifice associated to it – one may deplete your throwing items’ usage, while another will deplete your health and stamina. Picking the best order to fight them in adds a little strategic thinking to the game, as you may be more dependent on your large health and stamina bar more than your throwing items’ usage, for example. The game is fairly difficult, so your victories over each boss feel very gratifying when they do come.
  
• Completion Time: ~5 Hours
  
• Extra Content: There is New Game+ that offers you an additional weapon. The achievements task you with a few things you have to pull off in battles, and getting all the achievements is pretty easy to obtain.
  

15. Tamashii

• Price: $11.99
  
• Picture: Link
  
• Trailer: Slightly Graphic (Link)
  
• Genre: Puzzle PlatformeHorror
  
• Metacritic: 65% from 2 Critic Reviews, 70% from 1 User Rating
  
• Description: Reportedly inspired by obscure Japanese games from the late 1980s and 1990s, Tamashii blends puzzle platforming together with an oppressive atmosphere. The introduction starts with the character being willed into existence by a godlike character that tasks him with destroying the macabre forces that have taken control of and corrupted his chambers. Your character is able to spawn three inanimate clones of himself which is the primary source for most of the platforming and some of the boss fights – you’ll use them to trigger switches and open up new paths. There’s about an even mix of puzzle solving and platforming, and there’s a whole eight bosses in this short adventure (though one is a secret) that are probably the most visually interesting moments in the game. The creatures and backgrounds are effective in selling the dark presentation of the game. The difficulty is about average – maybe slightly easier than most indie puzzle platformers. There is a sequel currently in the works.
  
• Completion Time: ~2.5 Hours
  
• Extra Content: There are a few obscure secrets to discover. You can also play through the chambers again with a score meter, and there are certain achievements associated with getting a good score. Getting all the achievements isn’t too difficult, but you’ll probably need a guide for some of the secrets.
  

16. Verlet Swing

• Price: $14.99
  
• Trailer: Link
  
• Genre: 3D Platformer
  
• Metacritic: 63% from 3 Critic Reviews, 75% from 2 User Ratings
  
• Description: Verlet Swing’s aesthetic is as intriguing as its gameplay: you are tasked with grappling and swinging yourself across these vaporwave styled levels without hitting anything. The levels are all very short, but you’re likely to play many levels dozens of times before even finishing it… just to get a 1/4 rank. The ranking system is actually very cool, in that it encourages you to find alternative paths or sometimes just building up more momentum to get to the end faster. Most levels do seem to have a set path, but at the same time, with the proper grappling of the mechanics, you can forge your own, which is a game in itself.
  
• Completion Time: ~7 Hours
  
• Extra Content: There’s an in game challenge menu that mostly recycles a lot of the base game content – though there’s a particularly funny one that switches the perspective to third person to play as a knockoff Spiderman. You can also go back and try to get the best possible time for each level. Getting all achievement is extremely difficult.
  

17. Warlock’s Tower

• Price: $4.99
  
• Trailer: Link
  
• Genre: 2D Level-based Puzzle Game
  
• Metacritic: 63% from 3 Critic Reviews, 75% from 2 User Rating
  
• Description: Warlock’s Tower’s puzzles are built around the movement of the player. There are numbers on the ground for the player to pick up – either 3 or 5 – and this gives the player a set number of steps before they die. Your goal in every level is to make it to an exit, and you’ll have to acquire the numbers in an order that gets you there. It is a bit easy in the beginning but eventually works up to be a challenge in the later levels as more elements are introduced: enemies, teleporters, conveyors, and even controlling two characters at once that share movement usage. The game has a very believable GameBoy aesthetic and sound effects to accompany it, and it works for this slower paced tile-based game.
  
• Completion Time: ~6 Hours
  
• Extra Content: This is published by Ratalaika Games, but surprisingly enough, you actually have to beat the game and find a few NPCs hidden in certain levels to get all achievements. There are optional levels in each world that don’t have any achievements attached to them, and this should add a few hours to the game.
  

18. The Bunker

• Price: $19.99
  
• Picture: Link
  
• Trailer: Link
  
• Genre: FMV Point & Click Adventure/Horror
  
• Metacritic: 59% from 8 Critic Reviews, 55% from 11 User Ratings
  
• Description: The Bunker is an FMV point & click adventure, meaning it features real actors and environments just like a live action movie. Many of the actors involved have been in high profile movies/TV shows as well, including The Hobbit, Game of Thrones, Star Wars, and Penny Dreadful. The game takes place in a fallout shelter and follows the last survivor as he tries to find a way outside following the death of his mother, after living 30+ years in the bunker. The gameplay has you solving puzzles and finding ways to proceed to the next area. The story is the focal point of the game though, and it frequently switches between the past and the present to tell its story. There’s a good juxtaposition between the lively past and the lonely present that makes you question how the protagonist ended up as the last survivor. There’s only one narrative choice to make in the game, and it comes at the very end. The game also works in handheld mode with touchscreen functionality if you'd prefer to play it that way.
  
• Completion Time: ~2. Hour Completion Time*
  
• Extra Content: You can replay the game and try to find all the collectibles. Most of them give more background on the story. You can trigger the ending you did not choose the first time around by simply reloading the last checkpoint, so there is no need to play through the whole game again to unlock it. Getting all the achievements is fairly easy.
  

19. Hayfever

• Price: $14.99
  
• Trailer: Link
  
• Genre: 2D Precision Platformer
  
• Metacritic: 49% from 2 Critic Reviews, 70% from 1 User Rating
  
• Description: Hayfever is a precision platformer that revolves around a mailman propelling himself using a number of different allergens that act as power-ups. A lot of the platforming is aerial and typically has you catching allergens mid-air to perform maneuvers in quick succession. It's not an easy game by any means, but it has oddly relaxing music to accompany the rather intense platforming. There are also letters to collect in each level to steepen the challenge and some secrets to discover too. It takes an hour or so to get used to the aerial platforming, and this is one of the few 2D platformers played better with the analog stick rather than the D-Pad. But letters that seemed unattainable to me at the beginning of the game became much simpler by the end, as I had mastered the controls and physics of the game. I’ve played a ton of 2D platformers, and this is one of my favorites.
  
• Completion Time: ~8 Hours
  
• Extra Content: It'll take another 8 hours or so to collect all the letters and probably about 6 hours or so to beat the Hard World, which features an additional 28 remixed levels. There are also secrets to uncover, but they don't net any in game progress and only work towards your achievement completion. Finding these secrets will probably vary more in time because they are hidden, but expect them to take a few hours to find. Just to clarify, letters are an expanded test of your platforming skills and are all in clear view of the screen, while secrets are a test of your observational skills and take a little more digging to finish. Attaining all achievements is a fair and rewarding challenge that took me about 25-30 hours to get.
  

20. Cybarian: The Time-Traveling Warrior

• Price: $4.99
  
• Picture: Link
  
• Trailer: Trailer
  
• Genre: 2D Action Platformer
  
• Metacritic: 48% from 2 Critic Reviews, 75% from 2 User Ratings
  
• Description: Cybarian has an interesting yet simple combat system that distinguishes itself from most action platformers. Instead of mashing the attack button, you have to press it once, wait two seconds for the animation to complete, press it again, wait two seconds for the animation to complete, and then press it again to complete a full combo. It sounds like something that's easy to get down quickly, but I found myself still occasionally going too quickly in the intensity of a boss fight. The game punishes you by not fulfilling the attack if you button mash. After each boss fight, you unlock a new move that will be required to fell some foes in the next stage. Conversely, you can play Hard Mode which unlocks all moves right from the get-go, but you'll have to beat all four stages without dying. "Hardcore Mode" would've been a more apt description of this difficulty setting, I feel.
  
• Completion Time: ~1.5 Hours
  
• Extra Content: Just like with Ultra Hat Dimension and Warlock’s Tower, this is a Ratalaika Games published game, so getting all the achievements can be achieved in under an hour. It would've been nice if they pushed you to beat Hard Mode, but you'll just have to settle for internal gratification instead.
  

Conclusion
My top 5 on the list in order would be the following: (1.) Hayfever, (2.) Valfaris, (3.) Cursed Castilla: (Maldita Castilla EX), (4.) Momodora: Reverie Under the Moonlight, and (5.) Pumpkin Jack.
Have you played any of these games? What are some other overlooked single player indie games?
See my post below for some upcoming indie games to look out for.

• 40 Upcoming Indie/AA Games (Not all on Xbox)