Offshore
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Stock Analysis Compilation
Baron Fifth Avenue Growth Fund on KKR $KKR US
Thesis: KKR & Co. Inc. is a leading alternative asset manager poised for significant growth through its diversified investment strategies and expansion in less penetrated markets like Asia.
(Extract from their Q3 letter) https://t.co/efA7sbDKEH
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Baron Fifth Avenue Growth Fund on KKR $KKR US
Thesis: KKR & Co. Inc. is a leading alternative asset manager poised for significant growth through its diversified investment strategies and expansion in less penetrated markets like Asia.
(Extract from their Q3 letter) https://t.co/efA7sbDKEH
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Offshore
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Dimitry Nakhla | Babylon Capital®
Let’s take a look at $MA & $MA impressive 10-year track record (2014-2024) 💳
As you can see below, $MA & $V have delivered excellent returns relative to the broader market, with a higher Sharpe ratio meaning they’ve achieved a better risk-adjusted return 📊 https://t.co/UazJvwQkz5
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Let’s take a look at $MA & $MA impressive 10-year track record (2014-2024) 💳
As you can see below, $MA & $V have delivered excellent returns relative to the broader market, with a higher Sharpe ratio meaning they’ve achieved a better risk-adjusted return 📊 https://t.co/UazJvwQkz5
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Offshore
Video
Startup Archive
Jeff Bezos on the problems with proxies and managing to metrics
“One of the things that happens in business is that you develop certain things that you’re managing to—a typical case would be a metric. And that metric isn’t the real underlying thing.”
To illustrate his point, he suggests a hypothetical example of company that designates “customer returns per units sold” to be an important metric:
“The person who invented that metric and decided it was worth watching had a reason. And then when you fast forward five years, that metric is the proxy. In this case, it’s a proxy for customer happiness. But that metric is not actually customer happiness.”
He continues:
“Five years later, a kind of inertia can set in and you forget the truth behind why you were watching that metric in the first place. And the world shifts a little. And now that proxy isn’t as valuable as it used to be—or it’s missing something. You have to be on alert for that.”
You have to keep in mind that you don’t really care about the metric. What you care about is customer happiness, and the metric is only worth putting energy into and scrutinizing to the extent that it actually improves customer happiness.
“It’s very common and it’s a nuanced problem—especially in large companies—that they are managing to metrics that they don’t really understand. They don’t really know why [these metrics] exist. And the world may have shifted out from under them a little, and the metrics are no longer as relevant as they were when somebody ten years earlier invented them.”
You need metrics and can’t ignore them, but you have to make sure you really understand them and why they were invented in the first place.
“This is a way to slip into day 2 thinking — managing your business to metrics that you don’t really understand.”
Video source: @lexfridman (2013)
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Jeff Bezos on the problems with proxies and managing to metrics
“One of the things that happens in business is that you develop certain things that you’re managing to—a typical case would be a metric. And that metric isn’t the real underlying thing.”
To illustrate his point, he suggests a hypothetical example of company that designates “customer returns per units sold” to be an important metric:
“The person who invented that metric and decided it was worth watching had a reason. And then when you fast forward five years, that metric is the proxy. In this case, it’s a proxy for customer happiness. But that metric is not actually customer happiness.”
He continues:
“Five years later, a kind of inertia can set in and you forget the truth behind why you were watching that metric in the first place. And the world shifts a little. And now that proxy isn’t as valuable as it used to be—or it’s missing something. You have to be on alert for that.”
You have to keep in mind that you don’t really care about the metric. What you care about is customer happiness, and the metric is only worth putting energy into and scrutinizing to the extent that it actually improves customer happiness.
“It’s very common and it’s a nuanced problem—especially in large companies—that they are managing to metrics that they don’t really understand. They don’t really know why [these metrics] exist. And the world may have shifted out from under them a little, and the metrics are no longer as relevant as they were when somebody ten years earlier invented them.”
You need metrics and can’t ignore them, but you have to make sure you really understand them and why they were invented in the first place.
“This is a way to slip into day 2 thinking — managing your business to metrics that you don’t really understand.”
Video source: @lexfridman (2013)
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Investing visuals
Alphabet $GOOGL: A Cloud giant and ads market leader for a reasonable price👌 https://t.co/SswXmIoW5a
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Alphabet $GOOGL: A Cloud giant and ads market leader for a reasonable price👌 https://t.co/SswXmIoW5a
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Offshore
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Stock Analysis Compilation
Bell AM on Nvidia $NVDA US
Thesis: NVIDIA is a strong investment opportunity despite recent setbacks, supported by confident growth prospects in AI infrastructure and conservative consensus estimates on GPU demand.
(Extract from their September letter) https://t.co/c8udq0ubiX
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Bell AM on Nvidia $NVDA US
Thesis: NVIDIA is a strong investment opportunity despite recent setbacks, supported by confident growth prospects in AI infrastructure and conservative consensus estimates on GPU demand.
(Extract from their September letter) https://t.co/c8udq0ubiX
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App Economy Insights
RT @EconomyApp: 📈 How to Analyze a Stock
6 questions to ask before you click “buy” 👇
https://t.co/HroFFEvo9F
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RT @EconomyApp: 📈 How to Analyze a Stock
6 questions to ask before you click “buy” 👇
https://t.co/HroFFEvo9F
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Offshore
Video
Value Spotlight (Andrew Sather)
ROIC vs WACC (Tutorial): Donuts Gone Stale.
Stay away from this value trap. One of the 18 Most Dangerous Small Caps on @NewConstructs platform for Dec 24. S/O to @finchat_io for their always quick and beautiful charts. https://t.co/9YTJYf4AN2
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ROIC vs WACC (Tutorial): Donuts Gone Stale.
Stay away from this value trap. One of the 18 Most Dangerous Small Caps on @NewConstructs platform for Dec 24. S/O to @finchat_io for their always quick and beautiful charts. https://t.co/9YTJYf4AN2
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Offshore
Photo
Stock Analysis Compilation
Baron Opportunity Fund on Tesla $TSLA US
Thesis: Tesla is leveraging its extensive data, advanced computational power, and significant investments in AI to lead in autonomous driving and humanoid robotics markets.
(Extract from their Q3 letter) https://t.co/NdDN3aAwwd
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Baron Opportunity Fund on Tesla $TSLA US
Thesis: Tesla is leveraging its extensive data, advanced computational power, and significant investments in AI to lead in autonomous driving and humanoid robotics markets.
(Extract from their Q3 letter) https://t.co/NdDN3aAwwd
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Offshore
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Dimitry Nakhla | Babylon Capital®
Can’t wait to start reading these two books, feel like a kid on Christmas Morning🎁 https://t.co/5la1fSAKLu
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Can’t wait to start reading these two books, feel like a kid on Christmas Morning🎁 https://t.co/5la1fSAKLu
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Offshore
Photo
Stock Analysis Compilation
Polen Capital on Booz Allen Hamilton $BAH US
Thesis: Booz Allen Hamilton is a trusted management and consulting firm for U.S. government clients, expected to deliver low-teens earnings growth and mid-teens returns through its strategic services and recent price weakness.
(Extract from their Q3 letter)
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Polen Capital on Booz Allen Hamilton $BAH US
Thesis: Booz Allen Hamilton is a trusted management and consulting firm for U.S. government clients, expected to deliver low-teens earnings growth and mid-teens returns through its strategic services and recent price weakness.
(Extract from their Q3 letter)
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