Santangel's Review
“If everything you do needs to work on a three-year time horizon, then you’re competing against a lot of people. But if you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people." - Jeff Bezos
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Special Situations 🌐 Newsletter (Jay Singh III)
Mortgage applications decreased 1.7% w/w, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 8, 2022. This week’s results include an adjustment for July 4th. Lowest refi index since 2000 $xhb $dhi $phm $tol
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Ramneek
RT @WTCM3: surprising from a 2016 writeup on $BLK: "Had you bought BlackRock at the peak of the market on October 9, 2007, there wouldn’t have been a single day where your BlackRock holding, measured from its October 9th purchase date, would have cumulatively underperformed the S&P 500."
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Rihard Jarc
Ok, the acquisition of $IS by $U...might be ok. No opinion really on it because I don't know $IS well enough.

But WHY in the world is $U doing a buyback, let alone a $2.5B one? The company is not even profitable yet...
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Rolf Degen
People intuitively prefer invisible-hand explanations of social phenomena over explanations that resort to intended goals. https://t.co/tzCNdhRycX https://t.co/fKeiMMHhUp
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Morning Brew ☕️
New in! The @moneywithkatie collection is freshly stocked with everything from the Breadwinner Hat to Rich Girl Summer essentials. Shop now. https://t.co/aKgx3Sp65S https://t.co/2ijeSwZi2s
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Five Minute Macro
Maybe we need to be spending less time analysing the month to month vagaries of this item vs that item and more time considering inflation dynamics here?
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FXHedge
U.S. INTEREST RATES FUTURES NOW SEE 80% CHANCE OF ANOTHER 75 BPS HIKE IN SEPT -FEDWATCH
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Ethan Mollick
Even when inflation gets under control, don’t expect that to improve attitudes. This paper shows consumers overestimate inflation & future inflation, especially after living through it. And they don’t notice when inflation eases off. Via @andre_spicer https://t.co/3H3aDoXUZV https://t.co/gRc7s2fbkV
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Frederik Gieschen
Buffett on concentration ('94): "We are willing to put a lot of money into a single security. We’re not going to do that unless we understand the business very well, and the nature of the business, what we’re paying for it, the people running it, lead up to virtually no risk."
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Ensemble Capital
RT @QCompounding: This quality universe of @Prof_Kalkyl is truly beautiful.

CC @long_equity @Invesquotes @GaliciaInvestor @Finding_Moats @F_Compounders @fundhunter_co @UKInvestGlobal @TSOH_Investing @YHamiltonBlog @InvestmentBook1 https://t.co/ID70HeX1QE
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Morning Brew ☕️
It's National French Fry Day, and Google Trends has hit us with this insight.

Does this mean people actually like sweet potato fries? https://t.co/HTJ1WrLgXO
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Frederik Gieschen
"Things take time to materialize in small-cap Japan. I strongly prefer a soft catalyst, long-term strength in the operating business. Even for net-nets and deep value it's difficult to build an attractive case without a solid operating business" @Fritz844
https://t.co/r9pYKxAJNg
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Frederik Gieschen
"The big tell, always, is when finance executives start giving “nuanced answers to yes and no questions.”

... asked repeatedly if the bank had lied ... Chase Vice Chairman Braunstein kept talking around the question, 'I believed it to be a true statement at the time.'" @mtaibbi
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