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Librarian Capital
Some figures about how much tobacco taxes are worth
Hypothesis: Not enough to be a factor in tobacco policy
(We are long tobacco stocks)
cc $PM $MO $BATS $BTI $IMB
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Some figures about how much tobacco taxes are worth
Hypothesis: Not enough to be a factor in tobacco policy
(We are long tobacco stocks)
cc $PM $MO $BATS $BTI $IMB
UK Tobacco Duties were £9.38bn in FY22/23
This was 0.8% of all tax receipts
It had fallen before, e.g. FY11/12 to FY16/17
There is also VAT, applied after Tobacco Duty, but £ not spent on cigarettes would be spent elsewhere with VAT
Tax is likely not a factor in Tobacco policy https://t.co/e56ySSWjsm tweet
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Quiver Quantitative
BREAKING: Minnesota Governor Tim Walz just became the favorite for Democratic VP, according to betting markets.
We estimate that Walz has a net worth of approximately $600K.
We did not see him trade any stock during his time in office.
Link to his portfolio below: https://t.co/fa2nLmJcrz
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BREAKING: Minnesota Governor Tim Walz just became the favorite for Democratic VP, according to betting markets.
We estimate that Walz has a net worth of approximately $600K.
We did not see him trade any stock during his time in office.
Link to his portfolio below: https://t.co/fa2nLmJcrz
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Finding Compounders
Why Skin in the game matters
One of the advantages family owned businesses have
Sourced from my newsletter .
The link is in my bio https://t.co/ppS4TYnm1M
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Why Skin in the game matters
One of the advantages family owned businesses have
Sourced from my newsletter .
The link is in my bio https://t.co/ppS4TYnm1M
tweet
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Hidden Value Gems
A few charts on why Yen carry trade has become such an important factor:
1/ Low rates and low inflation led to Yen weakening, which in turn…
2/ Led to more shorts against Yen and…
3/ More cross-border borrowing in Yen
4/ But a sudden rise in rates and Yen, reversed this “carry trade”.
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A few charts on why Yen carry trade has become such an important factor:
1/ Low rates and low inflation led to Yen weakening, which in turn…
2/ Led to more shorts against Yen and…
3/ More cross-border borrowing in Yen
4/ But a sudden rise in rates and Yen, reversed this “carry trade”.
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Offshore
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Hidden Value Gems
The doom loop and four ways it may end, according to @Gavekal
Falling US stocks lead to US dollar declines expectation to Yen strength to Yen carry trade unwinds to more selling of US stocks and so on. https://t.co/MGmvZ7aYZr
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The doom loop and four ways it may end, according to @Gavekal
Falling US stocks lead to US dollar declines expectation to Yen strength to Yen carry trade unwinds to more selling of US stocks and so on. https://t.co/MGmvZ7aYZr
A few charts on why Yen carry trade has become such an important factor:
1/ Low rates and low inflation led to Yen weakening, which in turn…
2/ Led to more shorts against Yen and…
3/ More cross-border borrowing in Yen
4/ But a sudden rise in rates and Yen, reversed this “carry trade”. tweet