Offshore
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Hidden Value Gems
✅Another business is a US-listed company with a $4.5bn market cap and zero sell-side coverage. It operates in the insurance sector and has increased its NAV per share by 13% a year since the IPO in 1985.
3/5
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✅Another business is a US-listed company with a $4.5bn market cap and zero sell-side coverage. It operates in the insurance sector and has increased its NAV per share by 13% a year since the IPO in 1985.
3/5
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Offshore
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Offshore
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Hidden Value Gems
Every month, I write about the four most interesting stocks that match the following 5 criteria:
1⃣Quality of business
2⃣Financial performance
3⃣Low leverage
4⃣Insider ownership
5⃣Attractive valuation
Here are the four February ideas 🧵👇🏽
1/5
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Every month, I write about the four most interesting stocks that match the following 5 criteria:
1⃣Quality of business
2⃣Financial performance
3⃣Low leverage
4⃣Insider ownership
5⃣Attractive valuation
Here are the four February ideas 🧵👇🏽
1/5
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The Long Investor
$JD up +12% in the PM now
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$JD up +12% in the PM now
$JD earnings report is due before the market opens tomorrow.
It is also $1 away from its IPO price right now. - The Long Investortweet
Offshore
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The Long Investor
RT @TheLongInvest: $QQQ a lot of people asking where the pull back is going to......I already gave it to you. Back in November.
I had Wave 5 completing between $433 - $450.
Exactly where we are now.
Correct level, correct date.
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RT @TheLongInvest: $QQQ a lot of people asking where the pull back is going to......I already gave it to you. Back in November.
I had Wave 5 completing between $433 - $450.
Exactly where we are now.
Correct level, correct date.
$QQQ 5 year projection.
Be ready for the Fed pivot next year for Wave 2.
Otherwise, I am bullish on Tech for the next 5 years. - The Long Investortweet
The Long Investor
RT @TheLongInvest: The two biggest positions you can build when the correction is complete is $AMZN and $GOOG.
Their moats are too strong.
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RT @TheLongInvest: The two biggest positions you can build when the correction is complete is $AMZN and $GOOG.
Their moats are too strong.
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AkhenOsiris
Class Action season upon us with melting SNOW 😂
The Complaint alleges that throughout the Class Period Snowflake made materially false and misleading statements because Snowflake knew or deliberately disregarded and failed to disclose the following adverse facts about the Snowflake's business, operations, and prospects:
(1) that Snowflake had systematically oversold capacity to customers, which created a misleading appearance of the demand for Snowflake's products and services;
(2) that Snowflake had provided significant discounts to its customers prior to the Initial Public Offering ((PO) that temporarily boosted sales but would not be sustainable after the IPO and/or necessitate platform efficiency adjustments that negatively impacted client consumption and Snowflake's revenue and profit margins; and
(3) that, as a result, Snowflake's customers were poised to roll over a material amount of unused credits (and thereby cannibalize future sales) at the end of their contracts' terms or to refuse to reneW their contracts at prior consumption levels or at all;
(4) that, consequently, Snowflake's product revenue and remaining performance obligations had been artificially inflated leading up to and during the Class Period; and
(5) that, accordingly, Snowflake lacked a reasonable basis for its positive statements about Snowflake's business, financials, and growth trajectory.
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Class Action season upon us with melting SNOW 😂
The Complaint alleges that throughout the Class Period Snowflake made materially false and misleading statements because Snowflake knew or deliberately disregarded and failed to disclose the following adverse facts about the Snowflake's business, operations, and prospects:
(1) that Snowflake had systematically oversold capacity to customers, which created a misleading appearance of the demand for Snowflake's products and services;
(2) that Snowflake had provided significant discounts to its customers prior to the Initial Public Offering ((PO) that temporarily boosted sales but would not be sustainable after the IPO and/or necessitate platform efficiency adjustments that negatively impacted client consumption and Snowflake's revenue and profit margins; and
(3) that, as a result, Snowflake's customers were poised to roll over a material amount of unused credits (and thereby cannibalize future sales) at the end of their contracts' terms or to refuse to reneW their contracts at prior consumption levels or at all;
(4) that, consequently, Snowflake's product revenue and remaining performance obligations had been artificially inflated leading up to and during the Class Period; and
(5) that, accordingly, Snowflake lacked a reasonable basis for its positive statements about Snowflake's business, financials, and growth trajectory.
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AkhenOsiris
FT comparing $PDD to Luckin Coffee.
"For instance, why does PDD look like much smaller peers when staff levels and research spending are compared? Why haven't competitors described the impact of PDD's rise? Why do balance sheet metrics move at a different pace to revenues? How does a $200bn company own less than $150mn worth of hard assets?"
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FT comparing $PDD to Luckin Coffee.
"For instance, why does PDD look like much smaller peers when staff levels and research spending are compared? Why haven't competitors described the impact of PDD's rise? Why do balance sheet metrics move at a different pace to revenues? How does a $200bn company own less than $150mn worth of hard assets?"
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AkhenOsiris
FT on $PDD
Perhaps the biggest mystery about PDD is how lar truly become.
A metric published by some ecommerce businesses merchandise value (GMV) sold via the platform effectively, of its entire ecosystem of sales.
Ebay, for instance reported GMV of $73bn for its marketplace last year which it earned $10bn of revenues. PDD used to report such a figure. For 2021 it said GMV was Rmb2.4tn ($383bn). From that, PDD generated a total of $14.7bn of revenues from marketing and transaction services, a 3.6 per cent margin known as the “take rate."
However, while PDD still publishes revenue from marketing and transaction fees, it no longer reveals its GMV. Estimating how big its ecosystem has become thus depends on assumptions about what the take rate now is, or what share of GMV the company keeps for itself. Analysts offer a range of estimates for last year's total GMV between Rmb3.6tn ($500bn) and Rmb4.8tn ($700bn), according to Bloomberg, with a consensus of Rmb3.9tn ($550bn). At the higher end, that would be similar to estimates for Amazon's total GMV this year. But complicating that picture are metrics on the income statement and balance sheet moving at very different speeds. In the blow-out recent quarter, marketing services grew at roughly the same pace they have since the middle of 2021, about 40 per cent year-on-year. But over the same period, transaction fee revenues grew at more than three times the rate of marketing services.
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FT on $PDD
Perhaps the biggest mystery about PDD is how lar truly become.
A metric published by some ecommerce businesses merchandise value (GMV) sold via the platform effectively, of its entire ecosystem of sales.
Ebay, for instance reported GMV of $73bn for its marketplace last year which it earned $10bn of revenues. PDD used to report such a figure. For 2021 it said GMV was Rmb2.4tn ($383bn). From that, PDD generated a total of $14.7bn of revenues from marketing and transaction services, a 3.6 per cent margin known as the “take rate."
However, while PDD still publishes revenue from marketing and transaction fees, it no longer reveals its GMV. Estimating how big its ecosystem has become thus depends on assumptions about what the take rate now is, or what share of GMV the company keeps for itself. Analysts offer a range of estimates for last year's total GMV between Rmb3.6tn ($500bn) and Rmb4.8tn ($700bn), according to Bloomberg, with a consensus of Rmb3.9tn ($550bn). At the higher end, that would be similar to estimates for Amazon's total GMV this year. But complicating that picture are metrics on the income statement and balance sheet moving at very different speeds. In the blow-out recent quarter, marketing services grew at roughly the same pace they have since the middle of 2021, about 40 per cent year-on-year. But over the same period, transaction fee revenues grew at more than three times the rate of marketing services.
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AkhenOsiris
RT @mdsmaldon: Beginning to think this will be the most important question in our upcoming GenAI Survey (#3) given the Klarna AI data point, investor expectations of 'software' AI-beneficiaries and mgt 'conservative' full yr guides #buildvbuy
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RT @mdsmaldon: Beginning to think this will be the most important question in our upcoming GenAI Survey (#3) given the Klarna AI data point, investor expectations of 'software' AI-beneficiaries and mgt 'conservative' full yr guides #buildvbuy
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