Offshore
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Librarian Capital
Katsenelson opined that "quality" business "will be accompanied by, or result in a high return on capital"
In other words, ROIC is output
Later he wrote that BNSF "return on capital & accounting profits overstate its true profitability"
So ROIC figures aren't always reliable
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Katsenelson opined that "quality" business "will be accompanied by, or result in a high return on capital"
In other words, ROIC is output
Later he wrote that BNSF "return on capital & accounting profits overstate its true profitability"
So ROIC figures aren't always reliable
Vitaliy Katsenelson (IMA) defines "wonderful business"
"High-quality business with long runway of growth"
High quality = "significant competitive advantage", "which will be accompanied by, or result in a high return on capital & pricing power"; "so strong a monkey could run it" https://t.co/X5Rxf79Bu1 tweet
Offshore
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Invest In Assets 📈
RT @InvestInAssets: This is Charlie Munger.
Munger is said to have the best 30-second mind in the world
His deep knowledge on psychological biases and mental models gave him a competitive advantage.
Here are 6 lessons that will make you a more effective thinker: https://t.co/ef7TTix2Gp
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RT @InvestInAssets: This is Charlie Munger.
Munger is said to have the best 30-second mind in the world
His deep knowledge on psychological biases and mental models gave him a competitive advantage.
Here are 6 lessons that will make you a more effective thinker: https://t.co/ef7TTix2Gp
tweet
Offshore
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Quality Investing with Aria
2 days until I have to return back to this hell-hole.
My tuition compounded at 8% could be a down payment on a house. But no "you need a degree in this world to do anything" - 🤡🤓 https://t.co/wvMiKiO57u
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2 days until I have to return back to this hell-hole.
My tuition compounded at 8% could be a down payment on a house. But no "you need a degree in this world to do anything" - 🤡🤓 https://t.co/wvMiKiO57u
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Offshore
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Quality Investing with Aria
5 videos only this month. 2 of them were 1hr long deep dives. And another was uploaded just last night.
Despite the inactivity. The channel still did pretty well don’t you think 🤔 https://t.co/i8iqqmuUBR
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5 videos only this month. 2 of them were 1hr long deep dives. And another was uploaded just last night.
Despite the inactivity. The channel still did pretty well don’t you think 🤔 https://t.co/i8iqqmuUBR
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Offshore
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Librarian Capital
NatWest $NWG: UK government disclosed sale of another ~1% last week (RNS dated 30-Aug)
UK government now owns 17.97% https://t.co/jl55f0pTMz
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NatWest $NWG: UK government disclosed sale of another ~1% last week (RNS dated 30-Aug)
UK government now owns 17.97% https://t.co/jl55f0pTMz
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Bourbon Capital
Two Defensive and Quality stocks:
Canadian National Railway Company $CNI
Revenue Growth 5y: 2.58%
Net income Growth 5y: 4.27%
Gross Margin: 55.34%
CAGR 5y: +6.83%
Forward PE: 18
ROIC: 11.92%
Price Target: $130
Old Dominion Freight Line, Inc. $ODFL
Revenue Growth 5y: 7.61%
Net income Growth 5y: 14.80%
Gross Margin: 40.57%
CAGR 5y: +29.20%
Forward PE: 27
ROIC: 22.41%
Price Target: $200
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Two Defensive and Quality stocks:
Canadian National Railway Company $CNI
Revenue Growth 5y: 2.58%
Net income Growth 5y: 4.27%
Gross Margin: 55.34%
CAGR 5y: +6.83%
Forward PE: 18
ROIC: 11.92%
Price Target: $130
Old Dominion Freight Line, Inc. $ODFL
Revenue Growth 5y: 7.61%
Net income Growth 5y: 14.80%
Gross Margin: 40.57%
CAGR 5y: +29.20%
Forward PE: 27
ROIC: 22.41%
Price Target: $200
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Offshore
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Stock Analysis Compilation
Brown Capital on Natera $NTRA US
Thesis: Natera’s cutting-edge DNA testing technology positions it for substantial growth, with a clear path to profitability and dominance in high-demand markets like cancer recurrence and prenatal testing
(Extract from their Q2 letter) https://t.co/KvvQizaVz2
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Brown Capital on Natera $NTRA US
Thesis: Natera’s cutting-edge DNA testing technology positions it for substantial growth, with a clear path to profitability and dominance in high-demand markets like cancer recurrence and prenatal testing
(Extract from their Q2 letter) https://t.co/KvvQizaVz2
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Offshore
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App Economy Insights
RT @EconomyApp: 📊 This Week in Visuals:
☁️ Salesforce $CRM
📦 PDD Holdings $PDD
🛡️ CrowdStrike $CRWD
🏠 Lowe’s $LOW
🎯 Target $TGT
💻 Dell $DELL
🧑⚕️ Veeva $VEEV
https://t.co/uPaIQpJk3O
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RT @EconomyApp: 📊 This Week in Visuals:
☁️ Salesforce $CRM
📦 PDD Holdings $PDD
🛡️ CrowdStrike $CRWD
🏠 Lowe’s $LOW
🎯 Target $TGT
💻 Dell $DELL
🧑⚕️ Veeva $VEEV
https://t.co/uPaIQpJk3O
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Offshore
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Matt McGarry
25 spots left for early bird pricing this cohort! https://t.co/8lx408xZAv"
ANNOUNCEMENT: How to build a personal monopoly.
Would you rather have 100,000 email newsletter subscribers?
OR
1,000,000 Twitter followers?
I would take the email subscribers any day.
That seems crazy. But let me explain why...
The best businesses are impenetrable to competitors.
They have what Warren Buffett calls a “moat”:
- Nobody can dictate how they operate.
- They are invulnerable to competition.
- They have a captive customer base.
Social platforms are the opposite:
There's always an algorithm filtering your content from your audience.
Even if you have an audience of 1M followers, posts may only be seen by 5,000 them.
You’re constantly fighting competitors. Millions of people post similar things to you daily, and if their posts win in the algorithm, you get drowned out.
And this doesn’t just happen with social media…
Google’s search algorithms can suddenly change. Your traffic can disappear overnight.
Email, on the other hand, is:
✅ Direct line to your audience's inbox
✅ Free and open decentralized protocol that can't be taken away
100,000 subscribers = direct line to 100,000 people's inboxes at the moment you send the email instead of being at the mercy of algorithms.
Of course, there are inbox filters, spam, and the dreaded “promotions” folder.
But you can overcome these.
It’s much better to be in the inbox than never seen because of an algorithm.
My point is…
An engaged email newsletter makes you uncancellable.
It creates what I call a Personal Monopoly.
You see, things can go wrong in life.
You can lose social media accounts.
Your website traffic can disappear.
Your business can fail.
You can lose all your money.
But there's one thing you can't lose. And it gives you an insane advantage.
Your email list.
Nobody can take away your list.
As long as those subscribers agree to receive emails, you own an audience.
Why is this powerful?
It means:
✅ You can launch a new business to thousands of people for free with one simple email.
✅ You can monetize the attention of your subscribers with sponsors or affiliate offers.
This is a profound advantage in life.
When most people launch a business, it's like a fart in the wind.
They make a tweet to their 100 followers.
They try to get in the press.
They buy a few small ads.
Usually, nobody notices.
But with an email newsletter, you can instantly reach 10,000, 100,000, or even 1,000,000+ people in seconds.
All you need is 1,000 true fans, and you're set for life.
This is more powerful than money.
I'd rather have 10 million engaged email subscribers than $10,000,000.
(Because with 10 million subscribers, I can make $10M+ every year and positively impact millions of people).
But growing an email newsletter is a lot of work.
- Creating content is stressful and time-consuming.
- Growing your newsletter without an existing audience or a big ad budget is hard.
- Monetizing with sponsorships and getting subscribers to buy your product is more complicated than most people think.
Unless you want to waste years of time, hundreds of hours researching, and tens of thousands of dollars on marketing…
You’re better off getting someone who has built a newsletter before to help you.
So, today, I’m launching a NEW program to help people build their personal monopolies with newsletters.
It's called Write, Grow, Sell.
Here’s the TLDR:
✅ Write, Grow, Sell is a 5-week cohort-based course, community, and support system that will help you start a newsletter, get your first 10,000+ subscribers, and $10,000+ in sales.
✅ It’s for both beginners and advanced founders. We cover the fun[...]
25 spots left for early bird pricing this cohort! https://t.co/8lx408xZAv"
ANNOUNCEMENT: How to build a personal monopoly.
Would you rather have 100,000 email newsletter subscribers?
OR
1,000,000 Twitter followers?
I would take the email subscribers any day.
That seems crazy. But let me explain why...
The best businesses are impenetrable to competitors.
They have what Warren Buffett calls a “moat”:
- Nobody can dictate how they operate.
- They are invulnerable to competition.
- They have a captive customer base.
Social platforms are the opposite:
There's always an algorithm filtering your content from your audience.
Even if you have an audience of 1M followers, posts may only be seen by 5,000 them.
You’re constantly fighting competitors. Millions of people post similar things to you daily, and if their posts win in the algorithm, you get drowned out.
And this doesn’t just happen with social media…
Google’s search algorithms can suddenly change. Your traffic can disappear overnight.
Email, on the other hand, is:
✅ Direct line to your audience's inbox
✅ Free and open decentralized protocol that can't be taken away
100,000 subscribers = direct line to 100,000 people's inboxes at the moment you send the email instead of being at the mercy of algorithms.
Of course, there are inbox filters, spam, and the dreaded “promotions” folder.
But you can overcome these.
It’s much better to be in the inbox than never seen because of an algorithm.
My point is…
An engaged email newsletter makes you uncancellable.
It creates what I call a Personal Monopoly.
You see, things can go wrong in life.
You can lose social media accounts.
Your website traffic can disappear.
Your business can fail.
You can lose all your money.
But there's one thing you can't lose. And it gives you an insane advantage.
Your email list.
Nobody can take away your list.
As long as those subscribers agree to receive emails, you own an audience.
Why is this powerful?
It means:
✅ You can launch a new business to thousands of people for free with one simple email.
✅ You can monetize the attention of your subscribers with sponsors or affiliate offers.
This is a profound advantage in life.
When most people launch a business, it's like a fart in the wind.
They make a tweet to their 100 followers.
They try to get in the press.
They buy a few small ads.
Usually, nobody notices.
But with an email newsletter, you can instantly reach 10,000, 100,000, or even 1,000,000+ people in seconds.
All you need is 1,000 true fans, and you're set for life.
This is more powerful than money.
I'd rather have 10 million engaged email subscribers than $10,000,000.
(Because with 10 million subscribers, I can make $10M+ every year and positively impact millions of people).
But growing an email newsletter is a lot of work.
- Creating content is stressful and time-consuming.
- Growing your newsletter without an existing audience or a big ad budget is hard.
- Monetizing with sponsorships and getting subscribers to buy your product is more complicated than most people think.
Unless you want to waste years of time, hundreds of hours researching, and tens of thousands of dollars on marketing…
You’re better off getting someone who has built a newsletter before to help you.
So, today, I’m launching a NEW program to help people build their personal monopolies with newsletters.
It's called Write, Grow, Sell.
Here’s the TLDR:
✅ Write, Grow, Sell is a 5-week cohort-based course, community, and support system that will help you start a newsletter, get your first 10,000+ subscribers, and $10,000+ in sales.
✅ It’s for both beginners and advanced founders. We cover the fun[...]
Offshore
Matt McGarry 25 spots left for early bird pricing this cohort! https://t.co/8lx408xZAv" ANNOUNCEMENT: How to build a personal monopoly. Would you rather have 100,000 email newsletter subscribers? OR 1,000,000 Twitter followers? I would take the email…
damentals of picking a niche, writing your newsletter, and growing your list. Plus, advanced tactics like paid acquisition, sponsorship sales, info products, and much more.
✅ You can join live OR asynchronously. There are live sessions, Q&As, and coaching calls. Everything is recorded. You’ll get the edited videos, notes, timestamps, transcripts, and slides. It’s totally fine to move at your own pace.
Write, Grow, Sell has everything you need to start, grow, and monetize your newsletter.
I created this program based on my own experience and work with 50+ of the largest and most successful newsletters and creators, including:
- 1440
- Chartr
- Milk Road
- Sahil Bloom
- WorkWeek
- Dan Martel
- James Clear
- Money .com
- 1440 Media
- James Clear
- Wondermind
- The Rundown
- Codie Sanchez
- Sherwood News
- The Daily Upside
- And many, many more
I've used the Write, Grow, Sell system to:
1) Drive 10,000,000+ newsletter subscribers for my clients in the past 2 years.
2) Grow my newsletter to 25,000+ subscribers in <2"- Matt McGarry
tweet
✅ You can join live OR asynchronously. There are live sessions, Q&As, and coaching calls. Everything is recorded. You’ll get the edited videos, notes, timestamps, transcripts, and slides. It’s totally fine to move at your own pace.
Write, Grow, Sell has everything you need to start, grow, and monetize your newsletter.
I created this program based on my own experience and work with 50+ of the largest and most successful newsletters and creators, including:
- 1440
- Chartr
- Milk Road
- Sahil Bloom
- WorkWeek
- Dan Martel
- James Clear
- Money .com
- 1440 Media
- James Clear
- Wondermind
- The Rundown
- Codie Sanchez
- Sherwood News
- The Daily Upside
- And many, many more
I've used the Write, Grow, Sell system to:
1) Drive 10,000,000+ newsletter subscribers for my clients in the past 2 years.
2) Grow my newsletter to 25,000+ subscribers in <2"- Matt McGarry
tweet
Offshore
Photo
Quality Investing with Aria
I COULDN'T BE MORE BULLISH ON $GOOGL
It's a fun game to try and pick the next tech company that falls from grace and disappears into history like Xerox or IBM
The fact is. A company like $GOOGL is so dominant and has so many avenues of growth that frankly we might be in the early days of it's growth
Here are all the things $GOOGL owns that comes to mind:
1. Google Search
2. YouTube
3. Google Maps
4. Gmail
5. Google Chrome
6. Google Drive
7. Google Ads
8. Android
9. Google Photos
10. Google Play Store
11. Google Earth
12 Google Calendar
13. Google Translate
14. Google Analytics
15. Google Meet
16. Google Sheets
17. Google Docs
18. Google Slides
19. Google Classroom
20. Google Forms
21. Google Scholar
22. Google Street View
23. Google Flights
24. Gemini
25. Google Pixel
26. Google Cloud Platform
27. YouTube TV
28. Google Fitbit
29. Google Trends
30. Google AdSense
And the list goes on and on. I think it's safe to say that $GOOGL is highly ingrained into society and the everyday lives of the common people
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I COULDN'T BE MORE BULLISH ON $GOOGL
It's a fun game to try and pick the next tech company that falls from grace and disappears into history like Xerox or IBM
The fact is. A company like $GOOGL is so dominant and has so many avenues of growth that frankly we might be in the early days of it's growth
Here are all the things $GOOGL owns that comes to mind:
1. Google Search
2. YouTube
3. Google Maps
4. Gmail
5. Google Chrome
6. Google Drive
7. Google Ads
8. Android
9. Google Photos
10. Google Play Store
11. Google Earth
12 Google Calendar
13. Google Translate
14. Google Analytics
15. Google Meet
16. Google Sheets
17. Google Docs
18. Google Slides
19. Google Classroom
20. Google Forms
21. Google Scholar
22. Google Street View
23. Google Flights
24. Gemini
25. Google Pixel
26. Google Cloud Platform
27. YouTube TV
28. Google Fitbit
29. Google Trends
30. Google AdSense
And the list goes on and on. I think it's safe to say that $GOOGL is highly ingrained into society and the everyday lives of the common people
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Hidden Value Gems
RT @HiddenValueGems: How was your summer (winter if you in the southern hemisphere)? 😉
- Great
- Normal
- Best is yet to come
- Worse than expected
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RT @HiddenValueGems: How was your summer (winter if you in the southern hemisphere)? 😉
- Great
- Normal
- Best is yet to come
- Worse than expected
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