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Dimitry Nakhla | Babylon Capital®
$INTU is proof that ‘expensive stocks’ can be a bargain in disguise 👀
10-Years ago $INTU traded for 35.72x & today it trades for 31.86x NTM EPS 💵
Meanwhile, the company delivered a 22.3% 10-year CAGR, translating to a remarkable 637% total return 📈
This is why the price you pay (valuation) for a company isn’t necessarily everything 💭
What primarily matters is choosing the right companies to invest in because even if you pay a premium for a company with strong growth potential, it can end up looking like a bargain years later if the company delivers strong & consistent earnings growth 💸
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$INTU is proof that ‘expensive stocks’ can be a bargain in disguise 👀
10-Years ago $INTU traded for 35.72x & today it trades for 31.86x NTM EPS 💵
Meanwhile, the company delivered a 22.3% 10-year CAGR, translating to a remarkable 637% total return 📈
This is why the price you pay (valuation) for a company isn’t necessarily everything 💭
What primarily matters is choosing the right companies to invest in because even if you pay a premium for a company with strong growth potential, it can end up looking like a bargain years later if the company delivers strong & consistent earnings growth 💸
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Hidden Value Gems
Thank you to all who have voted!
Surprised so few people actually make new resolutions.
Wishing all a Happy New Year ! 🎄🎁🎉
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Thank you to all who have voted!
Surprised so few people actually make new resolutions.
Wishing all a Happy New Year ! 🎄🎁🎉
Do you make New Year resolutions? 🎅🎄
- Yes, and it works
- Yes, but it doesn’t work
- No
- No, but I will try it tweet
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Offshore
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Stock Analysis Compilation
Royal London AM on Urban Logistics $SHED LN
Thesis: Urban Logistics delivers steady rental growth and value creation in last-mile assets—see why this REIT trades at a 30% discount to NAV
(Extract from their Q3 letter) https://t.co/pb1kWM7JIr
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Royal London AM on Urban Logistics $SHED LN
Thesis: Urban Logistics delivers steady rental growth and value creation in last-mile assets—see why this REIT trades at a 30% discount to NAV
(Extract from their Q3 letter) https://t.co/pb1kWM7JIr
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Offshore
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Startup Archive
Peter Thiel on how to think about the future
“What you end up doing when you think of the future as indefinite is you pick a job that will be good on your resume because it will then lead to a different job later on.”
Instead of viewing the future as indefinite, Thiel suggests that the students in the audience think of the future on three horizons: short term, medium term, and long term. And he defines them as follows:
1. Short term = Are you going to be happy and will you be learning a lot?
2. Medium term = How good is it on your resume?
3. Long term = Are you working on something important or meaningful?
“I think we are in a skewed world where we overweight the medium term, and we underweight some combination of the short term and the long term.”
Thiel recommends recalibrating it to:
“Focus on some combination of short term and long term. And forget about the medium term.”
Video source: @radicaldiscours (2014)
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Peter Thiel on how to think about the future
“What you end up doing when you think of the future as indefinite is you pick a job that will be good on your resume because it will then lead to a different job later on.”
Instead of viewing the future as indefinite, Thiel suggests that the students in the audience think of the future on three horizons: short term, medium term, and long term. And he defines them as follows:
1. Short term = Are you going to be happy and will you be learning a lot?
2. Medium term = How good is it on your resume?
3. Long term = Are you working on something important or meaningful?
“I think we are in a skewed world where we overweight the medium term, and we underweight some combination of the short term and the long term.”
Thiel recommends recalibrating it to:
“Focus on some combination of short term and long term. And forget about the medium term.”
Video source: @radicaldiscours (2014)
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Offshore
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Stock Analysis Compilation
Hedge funds' best ideas #25 is in your inbox 🔥
(link in bio)
Includes links to the Q3 letters & articles from Artisan Partners / Desert Lion / Diamond Hill / Heartland Advisors / Kathmandu Capital / Lakehouse Capital / Loomis Sayles / Madison Funds / Mairs and Power / Orbis / Perritt CM / Polen Capital / Ross Van Compernolle / Royce IP / RS Investments / Silver Beech / THB AM / The London Company / Third Avenue
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Hedge funds' best ideas #25 is in your inbox 🔥
(link in bio)
Includes links to the Q3 letters & articles from Artisan Partners / Desert Lion / Diamond Hill / Heartland Advisors / Kathmandu Capital / Lakehouse Capital / Loomis Sayles / Madison Funds / Mairs and Power / Orbis / Perritt CM / Polen Capital / Ross Van Compernolle / Royce IP / RS Investments / Silver Beech / THB AM / The London Company / Third Avenue
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Offshore
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Stock Analysis Compilation
Mar Vista on Visa $V US
Thesis: Visa's financial strength and relentless focus on cashless transactions highlight its potential to grow intrinsic value by 10-13% over the next five years
(Extract from their Q3 letter) https://t.co/SF0zHjKaNJ
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Mar Vista on Visa $V US
Thesis: Visa's financial strength and relentless focus on cashless transactions highlight its potential to grow intrinsic value by 10-13% over the next five years
(Extract from their Q3 letter) https://t.co/SF0zHjKaNJ
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Offshore
Video
Startup Archive
Max Levchin on how Peter Thiel reacted to losing his entire investment in his co-founder’s startup
When assembling the found team for PayPal, Max Levchin wanted to recruit Luke Nosek. But he was worried at how Peter Thiel would react given that Peter lost his entire investment in Luke’s failed startup SmartCal:
“I was certain that Luke and Peter would not get along because Luke had just lost all the money Peter invested in his startup… I never had investors up until this point, so I was really not familiar with the relationship you have.”
With trepidation Max told Peter that Luke was really bright and worth trying to work with again. And he was surprised at Peter’s response:
“Oh of course. I should’ve thought of that myself.”
So you’re not mad it him? Max asked.
“No, he’s brilliant.”
Then Peter recruited Luke while Max recruited the rest of the PayPal founding team. After PayPal, Luke went on to work at Peter Thiel’s venture firm, Founders Fund.
I think this is an important lesson on failure. Statistically, the vast majority of startups fail, and the best investors know how hard it is to build something brand new and innovative. Very few people succeed on the first go-around, and it’s not necessarily a reflection on you if your startup fails.
Obviously you don’t want to fail, but as Vinod Khosla puts it: “to do something exceptional, you have to be willing to fail.”
Video source: @twistartups @jason (2018)
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Max Levchin on how Peter Thiel reacted to losing his entire investment in his co-founder’s startup
When assembling the found team for PayPal, Max Levchin wanted to recruit Luke Nosek. But he was worried at how Peter Thiel would react given that Peter lost his entire investment in Luke’s failed startup SmartCal:
“I was certain that Luke and Peter would not get along because Luke had just lost all the money Peter invested in his startup… I never had investors up until this point, so I was really not familiar with the relationship you have.”
With trepidation Max told Peter that Luke was really bright and worth trying to work with again. And he was surprised at Peter’s response:
“Oh of course. I should’ve thought of that myself.”
So you’re not mad it him? Max asked.
“No, he’s brilliant.”
Then Peter recruited Luke while Max recruited the rest of the PayPal founding team. After PayPal, Luke went on to work at Peter Thiel’s venture firm, Founders Fund.
I think this is an important lesson on failure. Statistically, the vast majority of startups fail, and the best investors know how hard it is to build something brand new and innovative. Very few people succeed on the first go-around, and it’s not necessarily a reflection on you if your startup fails.
Obviously you don’t want to fail, but as Vinod Khosla puts it: “to do something exceptional, you have to be willing to fail.”
Video source: @twistartups @jason (2018)
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Offshore
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Offshore
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App Economy Insights
Top companies globally (end of 2024):
📱 $AAPL
🤖 $NVDA
💻 $MSFT
🔍 $GOOG
📦 $AMZN
🛢️ $ARAMCO
🌐 $META
🚗 $TSLA
📈 $AVGO
⚙️ $TSM
Who will be at the top by the end of 2025? https://t.co/oKGYItF7gj
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Top companies globally (end of 2024):
📱 $AAPL
🤖 $NVDA
💻 $MSFT
🔍 $GOOG
📦 $AMZN
🛢️ $ARAMCO
🌐 $META
🚗 $TSLA
📈 $AVGO
⚙️ $TSM
Who will be at the top by the end of 2025? https://t.co/oKGYItF7gj
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