⁠Finding Compounders
Bruce Berkowitz runs the Fairholme Fund.

Here is a Barron’s article on him: Betting Big, Winning Big https://t.co/ipXeM3qWYJ
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⁠Hidden Value Gems
An interesting arbitrage opportunity in $TSM - you can buy Taiwan shares at a better price than US ADRs.

✅The ADRs trade at a premium simply because they are easier to buy via US brokerages.

✅This is amplified during bullish retail frenzies, where convenience and access trump valuation.

✅Many fund mandates restrict purchases to local (US) listings only - they can't buy the Taiwan shares even if they’re cheaper.

✅This is not new. At some point in 2000, US ADRs were at a 90% premium to Taiwan local shares.

h/t @FT

#Arbitrage #Stocks #TSMCat
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⁠Finding Compounders
What’s Not A Moat

Source : Dorsey Asset Management https://t.co/SOuiMaq539
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⁠Finding Compounders
Control your costs !!

Bear Sterns Memo https://t.co/SgB6ZmchIA
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⁠Finding Compounders
I just came across this Nick Sleep gem.

Here is an interview Nick Sleep did back in 2013.

Nick Sleep and Qais Zakaria ran Nomad Investment Management which over 12 years compounded at 18%. https://t.co/llJ7i41aEm
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⁠Finding Compounders
Look for customer heterogeneity

Source : All Revenue Is Not Created Equal by Bill Gurley (@bgurley ) https://t.co/Y7ZR8TMW27
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⁠The Kobeissi Letter
BREAKING: President Trump's World Liberty Financial announces USD1 stablecoin which is "100% backed by short-term US government treasuries, US dollar deposits, and other cash equivalents." https://t.co/ckBJDiPdyn
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⁠App Economy Insights
$STUB StubHub just filed for a US IPO.

Aiming to raise $1B at a $16B+ valuation.

I spent hours reading the S-1 so you don’t have to.

Here’s what I learned.👇
https://t.co/FH18pXfz7j
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