⁠Librarian Capital
We published this on Diageo $DGE $DEO 2 months ago when shares were at ~£26; now ~£23
https://t.co/A6TRt1lRNz

Turns out it wasn't quite "darkest before the dawn" yet

Update review to follow later today

"Diageo: Darkest Before the Dawn? Shares Near COVID Trough and <19x- Librarian Capital
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⁠Finding Compounders
In Berkshire’s 1997 letter, Warren Buffett explains how he thinks about Market Fluctuations. https://t.co/yb1UBh3qcA
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⁠Librarian Capital
P&G $PG FY24Q4 (Apr-Jun)

Q4 Sales +2% organic (volume +2%)
Grooming +7%; Baby, Feminine & Family Care -2%
Core GM +140bps (51.5%)
Core EBIT Margin -100bps (23.8%)
Core EPS +2%

FY24 Core EPS +12% ($6.59)

FY25 outlook
Sales +3-5% organic
Core EPS +5-7% ($6.91-7.05)

-4% pre-mkt. https://t.co/KZxxGtcrwA
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⁠Librarian Capital
PayPal $PYPL 24Q2

TPV +11%, Net Revenues +8%
Transaction Margin Dollars +8%
EBIT +17% GAAP, +24% Non-GAAP
EPS +17% GAAP, +36% Non-GAAP

Raises 2024 guidance
Non-GAAP EPS to see low- to mid-teens growth
(was MSD-to-HSD)

+9% pre-market https://t.co/FcGMwq6aTs
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⁠Librarian Capital
Interesting post on Nike $NKE problems, written by former brand director who worked 21 years there

h/t @TrungTPhan

https://t.co/PNiNOKbUx7 https://t.co/caS1Lu9VKf
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⁠Capital Employed
What's the one or two fund letters you always look forward to reading?
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⁠Librarian Capital
Great read: "Finest Years: Churchill as Warlord 1940–45"

This is not only military and political history, but also a case study of a CEO attempting a turnaround, showing both the power and limitations of having an inspiring leader execute such an effort

https://t.co/7DaHaqkFwI https://t.co/ZktqvjHy2U
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⁠Librarian Capital
Diageo $DGE was down ~10% at open; now down ~6%

Human beings read and think at different speeds; and not every market participant is a human being https://t.co/oVdTE8QWpt

We published this on Diageo $DGE $DEO 2 months ago when shares were at ~£26; now ~£23
https://t.co/A6TRt1lRNz

Turns out it wasn't quite "darkest before the dawn" yet

Update review to follow later today - Librarian Capital
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⁠Finding Compounders
A 2008 interview featuring Seth Klarman https://t.co/cUFeWtZm2y
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⁠Librarian Capital
"Berkshire Hathaway sells BofA for a 9th-straight day" (CNBC)

$BRK.B sold a total of 18.4m shares from Thu to Mon ... at an average price of $41.65

Over the past 9 trading sessions, BRK has cut its stake by 71.2m shares with ~$3bn of sales"

Still owns 961.6m shares ($39.5bn) https://t.co/7Wm787iRRu

Warren Buffett's Berkshire Hathaway sells Bank of America for a ninth-straight day https://t.co/gSFeZdBz2B - CNBC
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