Offshore
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Startup Archive
RT @thilokonzok: outliers outsmart or outrun.
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RT @thilokonzok: outliers outsmart or outrun.
Elad Gil’s 3 archetypes of hyper-successful founders
Elad Gil has invested in and advised some of the largest companies in the world, including Stripe, Airbnb, Figma, Instacart, and Coinbase.
When asked what made the founders of these companies so successful, Elad replies:
“I think a lot of it is: Do you end up in the right market? Is the market big enough? Is it growing? Is it dynamic in the right way? I think half of it just is that you find the right market…. So you need the right market, but within that, there are tons of people who enter these markets and do horribly. So what’s different?”
He notices that hyper-successful founders tend to fall into three buckets:
“The first one is the polymathic, hyper-intellectual, yet very competitive person. And that’s probably Patrick and John [Collison] from Stripe. That was Larry and Sergey when I worked at Google — they were very polymathic, very deep on everything.”
He continues:
“I think the second one is the super hardcore, extremely focused, really really driven, overdrive founder. That may be Travis [Kalanick] from Uber… And I think there are almost signals of those because a lot of people in our ecosystem now, for example, are doing angel investing or they’re involved with lots of other companies while they’re running their own company. And this second class of founders doesn’t do any of that. They say no to everything, and they’re all-in on one thing.”
Joe Lonsdale adds that this second type reminds him of Peter Thiel or Elon Musk in the early days:
“I feel like Elon used to be more that way because he literally would say no to everything.”
And then the third type of founder is one who is early to a network effects business:
“If you have something that has network effects, you’re going to do well.”
Video source: @AmOptimistShow @JTLonsdale (2024) tweet
Offshore
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Stock Analysis Compilation
Artisan International Value Strategy on Novartis $NVS US
Thesis: Novartis is poised for over 10% revenue and profit growth in 2024, yet its shares are undervalued at 13X forecasted earnings due to regulatory pressures and a shift in investor focus towards obesity drugs.
(Extract from their Q4 letter)
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Artisan International Value Strategy on Novartis $NVS US
Thesis: Novartis is poised for over 10% revenue and profit growth in 2024, yet its shares are undervalued at 13X forecasted earnings due to regulatory pressures and a shift in investor focus towards obesity drugs.
(Extract from their Q4 letter)
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Dimitry Nakhla | Babylon Capital®
As an investor, it’s exciting to find companies where profits and stock prices rise together over time
Here are 10 high-quality compounders, businesses that keep growing steadily, still trading near their valuations from 5 years ago, plus their impressive returns 🧵
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As an investor, it’s exciting to find companies where profits and stock prices rise together over time
Here are 10 high-quality compounders, businesses that keep growing steadily, still trading near their valuations from 5 years ago, plus their impressive returns 🧵
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Offshore
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Finding Compounders
How did Costco and Brown Forman achieve the same shareholder returns while growing earnings at different rates?
Source : https://t.co/p4kNkbBkGn https://t.co/Ylq0GGx5IO
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How did Costco and Brown Forman achieve the same shareholder returns while growing earnings at different rates?
Source : https://t.co/p4kNkbBkGn https://t.co/Ylq0GGx5IO
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Quiver Quantitative
JUST IN: Senator Ashley Moody just filed her first trades as a member of Congress.
She bought up to $100K of stock in Howmet Aerospace, $HWM.
Howmet makes components for jet engines.
Full trade list up on Quiver. https://t.co/n8WEpfWpKf
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JUST IN: Senator Ashley Moody just filed her first trades as a member of Congress.
She bought up to $100K of stock in Howmet Aerospace, $HWM.
Howmet makes components for jet engines.
Full trade list up on Quiver. https://t.co/n8WEpfWpKf
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Offshore
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App Economy Insights
$BRK Berkshire Hathaway FY24.
"Berkshire shareholders can rest assured that we will forever deploy a substantial majority of their money in equities." ~ Warren Buffett.
• Net profit $90B.
• Stock repurchase $3B.
• Segment margin 15% (+3pp Y/Y).
• Investment gains (unrealized) of $53B.
• Cash and short-term securities $334B.
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$BRK Berkshire Hathaway FY24.
"Berkshire shareholders can rest assured that we will forever deploy a substantial majority of their money in equities." ~ Warren Buffett.
• Net profit $90B.
• Stock repurchase $3B.
• Segment margin 15% (+3pp Y/Y).
• Investment gains (unrealized) of $53B.
• Cash and short-term securities $334B.
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Offshore
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Finding Compounders
Warren Buffett praises the late Pete Liegl, founder of Forest River Inc, in his latest annual report https://t.co/XVxfFblZPp
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Warren Buffett praises the late Pete Liegl, founder of Forest River Inc, in his latest annual report https://t.co/XVxfFblZPp
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App Economy Insights
📊 This Week in Visuals:
🛒 Walmart $WMT
📦 Alibaba $BABA
🏝️ Booking $BKNG
🌐 Arista $ANET
🤝 MercadoLibre $MELI
🏦 Nu Holdings $NU
🎤 Live Nation $LYV
and more!
https://t.co/oo4QwtgVNx
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📊 This Week in Visuals:
🛒 Walmart $WMT
📦 Alibaba $BABA
🏝️ Booking $BKNG
🌐 Arista $ANET
🤝 MercadoLibre $MELI
🏦 Nu Holdings $NU
🎤 Live Nation $LYV
and more!
https://t.co/oo4QwtgVNx
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Offshore
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Stock Analysis Compilation
Baron Small Cap Fund on JFrog Ltd. $FROG US
Thesis: JFrog Ltd. is a leading provider of software tools for managing and securing application binaries, known for its flagship product Artifactory, which supports over 30 package formats and fosters significant customer retention and expansion through strong product integration and security features.
(Extract from their Q4 letter)
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Baron Small Cap Fund on JFrog Ltd. $FROG US
Thesis: JFrog Ltd. is a leading provider of software tools for managing and securing application binaries, known for its flagship product Artifactory, which supports over 30 package formats and fosters significant customer retention and expansion through strong product integration and security features.
(Extract from their Q4 letter)
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Offshore
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App Economy Insights
What are you watching this week?
• Monday: $DPZ, $HIMS, $MNST, $ZM.
• Tuesday: $AMC, $AS, $CART, $CPNG, $INTU, $WDAY.
• Wednesday: $AI, $CRM, $NVDA, $SNOW, $STLA, $NTNX, $PARA.
• Thursday: $ADSK, $DELL, $DUOL, $ESTC, $HPQ, $WBD.
All visualized in our PRO coverage next Saturday.
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What are you watching this week?
• Monday: $DPZ, $HIMS, $MNST, $ZM.
• Tuesday: $AMC, $AS, $CART, $CPNG, $INTU, $WDAY.
• Wednesday: $AI, $CRM, $NVDA, $SNOW, $STLA, $NTNX, $PARA.
• Thursday: $ADSK, $DELL, $DUOL, $ESTC, $HPQ, $WBD.
All visualized in our PRO coverage next Saturday.
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Offshore
Video
Startup Archive
Ben Horowitz: “Culture is not a set of beliefs. It’s a set of actions.”
In his book What You Do Is Who You Are, Ben explains that culture can feel abstract and secondary when you pit it against a concrete result that’s right in front of you.
But culture is a strategic investment in the company doing things the right way when you are not looking. It’s the set of assumptions your employees use to resolve the problems they face every day.
• Is that phone call so important I need to return it today or can it wait until tomorrow?
• Can I ask for a raise before my annual review?
• Is the quality if this document good enough or should I keep working on it?
• Do I have to be on time for that meeting?
• Should I stay at the Four Seasons or the Red Roof Inn? Should I go home at 5 p.m. or 8 p.m.?
• Should we discuss the color of this new product for five minutes or thirty hours?
• If I know something is badly broken in the company, should I say something? Whom should I tell?
• Is winning more important than ethics?
If you don’t methodically set your culture, then two-thirds of it will end up being accidental, and the rest will be a mistake.
In the clip below, Ben cites the quote from The Way of the Samurai: “A culture is not a set of beliefs. It’s a set of actions” and explains:
“[Culture is] not what you believe, it’s not what you think, it’s not what you tweet… who you are is what you do… the behaviors are the culture, not the values. When people say they have 20 values, I ask how many of those behaviors they have. If it’s none, your culture is hypocrisy.”
Video source: @cwclub (2019)
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Ben Horowitz: “Culture is not a set of beliefs. It’s a set of actions.”
In his book What You Do Is Who You Are, Ben explains that culture can feel abstract and secondary when you pit it against a concrete result that’s right in front of you.
But culture is a strategic investment in the company doing things the right way when you are not looking. It’s the set of assumptions your employees use to resolve the problems they face every day.
• Is that phone call so important I need to return it today or can it wait until tomorrow?
• Can I ask for a raise before my annual review?
• Is the quality if this document good enough or should I keep working on it?
• Do I have to be on time for that meeting?
• Should I stay at the Four Seasons or the Red Roof Inn? Should I go home at 5 p.m. or 8 p.m.?
• Should we discuss the color of this new product for five minutes or thirty hours?
• If I know something is badly broken in the company, should I say something? Whom should I tell?
• Is winning more important than ethics?
If you don’t methodically set your culture, then two-thirds of it will end up being accidental, and the rest will be a mistake.
In the clip below, Ben cites the quote from The Way of the Samurai: “A culture is not a set of beliefs. It’s a set of actions” and explains:
“[Culture is] not what you believe, it’s not what you think, it’s not what you tweet… who you are is what you do… the behaviors are the culture, not the values. When people say they have 20 values, I ask how many of those behaviors they have. If it’s none, your culture is hypocrisy.”
Video source: @cwclub (2019)
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