⁠Hidden Value Gems
An article in Barron’s on why $BABA is still a BUY:

“In fact, onsensus calls for Alibaba’s earnings-per-share growth to resume next year, climbing 12.5% year over year to $9.49, on an 8% climb in sales. That would mark its biggest year-over-year EPS growth since 2021.” https://t.co/zdke7XTPNm
tweet

⁠Capital Employed
EXCITING NEWS! 🚨

We're relaunching the Capital Employed podcast.

This time reading quarterly letters from some our favorite fund managers. As well as audio versions of stock pitches we like.

We will be uploading to our YouTube channel. 👇

https://t.co/IcIlBSS0gy
tweet

⁠Librarian Capital
Rightmove $RMV below 600p again this morning

At 600p, shares are 24.0x 2023 reported earnings
Dividend Yield is 1.6% and buybacks continuing

FCF Yield is 4.2% (2023: £199m) https://t.co/iSiQ6b2xN2
tweet

⁠Stock Analysis Compilation
Forager on JD Sports $JD/ LN

Thesis: JD Sports, a leader in sports-fashion retail with strong growth and expanding market share, offers compelling upside potential at an attractive valuation.

(Extract from their Q3 letter) https://t.co/IopoYvcUoW
tweet

⁠Capital Employed
Listen to the Massif Capital - 3rd Quarter 2024 Investor Letter🎧

The letter discusses... 👇

Real Assets Strategy 3Q 2024 performance
China's Economic Slowdown Impact
Key Positions in Siemens Energy and Alphamin
Tail-Risk Hedge and Strategic Caution

https://t.co/szZ1a3oK55
tweet

⁠Librarian Capital
Estée Lauder FY25Q1 results, withdraws outlook

Sales -5% organic, incl:
Americas -1%
EMEA -4%
APAC -11%

"Worsened consumer sentiment in China"
"Further (Asia travel) retail market deceleration"

US retail sales +LSD
US online +10% (incl. shipments for EL brand launch)

$EL -19% https://t.co/LZ1gPtqAdi
tweet

⁠Quiver Quantitative
We published the report shown below when a Carvana bankruptcy seemed imminent to most.

$CVNA has now risen 4,000% since then.

That's not a typo.

4,000% https://t.co/NpkysPNwBP
tweet

⁠Startup Archive
Brian Chesky on what your startup can learn from Ernest Shackleton’s famous job ad

At the end of the interview process, the Airbnb founder will usually tell the candidate all of the reasons they shouldn’t take the job:

“It’s going to be the longest hours you’ve ever had. I’m going to hold you to higher standards. It’s going to be day and night. It’s going to be this. It’s going to be that.”

As Brian points out, this is often the opposite of what recruiters will do:

“Recruiters often want to sell their company as a country club - we have great benefits, we have great this, we have great that. And it creates mismanaged expectations.”

But the best people want a challenge.

Brian reads the famous job ad Ernest Shackleton ran in a newspaper to recruit men for his Endurance expedition:

“Men wanted for hazardous journey. Low wages, bitter cold, long hours of complete darkness. Safe return doubtful. Honour and recognition in event of success.”

Brian believes this is one of the best job ads ever:

“Don’t sell a rosy picture of the experience… Why do the most fit people in the world want to be Navy SEALs? Because they want the challenge. The average person doesn’t want a challenge, but the best people want a challenge. And so that will turn off mediocre people, but it will turn on great people.”
tweet

⁠Librarian Capital
Altria $MO 24Q3

Group rev.* +1.3%
Adj. EPS +7.8%

Smokeable volume -8.6%
(-11.5% ex. inventory/calendar)
Rev. +1.2%
Adj. OCI +7.1%

Oral on! volume +46%, total volume +1.2%
Rev. +5.8%
Adj. OCI +2.0%

Reaffirms 2024 guidance
Adj. EPS $5.07-5.15 (+2.5-4%)

* Net rev. after excise https://t.co/ZghPjK07Wh
tweet