The Transcript
Palantir earnings today:

$PLTR https://t.co/qh45afM588

Monday's earnings buffet includes Disney and Palantir:

Before Open: $DIS $APTS $IDXX $TSN $TWST $NSSC $RVTY $HESM

After Close: $PLTR $TER $NXPI $WWD $FN $RMBS $RMBS $DVA $SPG $DOC $TWO https://t.co/2rVgTz3tx9 - The Transcript
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App Economy Insights
RT @EconomyApp: 📊 January earnings visualized:

☁️ Big Tech: $AAPL $MSFT $META $TSLA
🏦 Banks: $JPM $BAC $WFC $C $SCHW
🏥 Healthcare: $JNJ $UNH $ABT $ISRG
⚙️ Semis: $TSMC $INTC $KLA $TXN
✈️ Airlines: $AAL $DAL $LUV $UAL
💻 Software: $IBM $SAP $NOW
📞 Telecom: $T $CMCSA $VZ
🔬 Equipment: $ASML $LRCX
💳 Payments: $AXP $V $MA
🥤 Beverage: $SBUX $STZ
💰 Wealth: $MS $GS $BLK
🍿 Entertainment: $NFLX
🛩️ Defense: $BA $LMT

50+ companies covered 👇
https://t.co/650GhPogGk
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Moon Dev
The $100k Dev Trap: How To Build A Professional Solana Sniper Bot For Zero Dollars
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Dimitry Nakhla | Babylon Capital®
It may have been easy to gloss over management’s comments on pricing power in Mastercard’s latest report.

$MA now derives nearly half (~44%) of total revenue from Value-Added Services & Solutions — a substantial amount of non-payment network revenue for a company still often viewed as a “payments” business.

CFO Sachin Mehra noted VAS growth was:

“Primarily driven by strong demand across digital & authentication, security solutions, consumer acquisition & engagement, and business & market insights — 𝙖𝙨 𝙬𝙚𝙡𝙡 𝙖𝙨 𝙥𝙧𝙞𝙘𝙞𝙣𝙜.”

Mehra further emphasized pricing is a function of delivering incremental customer value via new products, enhancements, and solution expansions — and then embedding that value into forecasts.

Notably, VAS is $MA fastest-growing segment, with 𝙛𝙤𝙪𝙧 𝙘𝙤𝙣𝙨𝙚𝙘𝙪𝙩𝙞𝙫𝙚 𝙦𝙪𝙖𝙧𝙩𝙚𝙧𝙨 𝙤𝙛 𝙔𝙤𝙔 𝙖𝙘𝙘𝙚𝙡𝙚𝙧𝙖𝙩𝙞𝙤𝙣.

𝘐𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘤𝘰𝘯𝘵𝘪𝘯𝘶𝘦 𝘵𝘰 𝘶𝘯𝘥𝘦𝘳𝘦𝘴𝘵𝘪𝘮𝘢𝘵𝘦 𝘵𝘩𝘦 𝘭𝘢𝘵𝘦𝘯𝘤𝘺 𝘢𝘯𝘥 𝘥𝘶𝘳𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘰𝘧 𝘱𝘳𝘪𝘤𝘪𝘯𝘨 𝘱𝘰𝘸𝘦𝘳 𝘦𝘮𝘣𝘦𝘥𝘥𝘦𝘥 𝘪𝘯𝘴𝘪𝘥𝘦 𝘔𝘢𝘴𝘵𝘦𝘳𝘤𝘢𝘳𝘥’𝘴 𝘦𝘹𝘱𝘢𝘯𝘥𝘪𝘯𝘨 𝘝𝘈𝘚 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮.
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Dimitry Nakhla | Babylon Capital®
It may have been easy to gloss over management’s comments on pricing power in Mastercard’s latest report.

$MA now derives nearly half (~44%) of total revenue from Value-Added Services & Solutions — a substantial amount of non-payment network revenue for a company still often viewed as a “payments” business.

CFO Sachin Mehra noted VAS growth was:

“Primarily driven by strong demand across digital & authentication, security solutions, consumer acquisition & engagement, and business & market insights — 𝙖𝙨 𝙬𝙚𝙡𝙡 𝙖𝙨 𝙥𝙧𝙞𝙘𝙞𝙣𝙜.”

Mehra further emphasized pricing is a function of delivering incremental customer value via new products, enhancements, and solution expansions — and then embedding that value into forecasts.

Notably, VAS is $MA fastest-growing segment, with 𝙛𝙤𝙪𝙧 𝙘𝙤𝙣𝙨𝙚𝙘𝙪𝙩𝙞𝙫𝙚 𝙦𝙪𝙖𝙧𝙩𝙚𝙧𝙨 𝙤𝙛 𝙔𝙤𝙔 𝙖𝙘𝙘𝙚𝙡𝙚𝙧𝙖𝙩𝙞𝙤𝙣.

𝘐𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘤𝘰𝘯𝘵𝘪𝘯𝘶𝘦 𝘵𝘰 𝘶𝘯𝘥𝘦𝘳𝘦𝘴𝘵𝘪𝘮𝘢𝘵𝘦 𝘵𝘩𝘦 𝘭𝘢𝘵𝘦𝘯𝘤𝘺 𝘢𝘯𝘥 𝘥𝘶𝘳𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘰𝘧 𝘱𝘳𝘪𝘤𝘪𝘯𝘨 𝘱𝘰𝘸𝘦𝘳 𝘦𝘮𝘣𝘦𝘥𝘥𝘦𝘥 𝘪𝘯𝘴𝘪𝘥𝘦 𝘔𝘢𝘴𝘵𝘦𝘳𝘤𝘢𝘳𝘥’𝘴 𝘦𝘹𝘱𝘢𝘯𝘥𝘪𝘯𝘨 𝘝𝘈𝘚 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮.
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Dimitry Nakhla | Babylon Capital®
RT @DimitryNakhla: Chris Hohn on what makes a great investor:

𝟏. 𝐅𝐮𝐧𝐝𝐚𝐦𝐞𝐧𝐭𝐚𝐥 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡
𝟐. 𝐋𝐨𝐧𝐠-𝐭𝐞𝐫𝐦𝐢𝐬𝐦
𝟑. 𝐂𝐨𝐧𝐜𝐞𝐧𝐭𝐫𝐚𝐭𝐢𝐨𝐧
𝟒. 𝐈𝐧𝐭𝐮𝐢𝐭𝐢𝐨𝐧

Each one matters on its own — together, they’re powerful:
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𝟏. 𝐅𝐮𝐧𝐝𝐚𝐦𝐞𝐧𝐭𝐚𝐥 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡

“I was always willing to look at the company fundamentals and not try to guess the stock market… I was always fundamental. Most investors are not fundamental… they look at data points, they say what’s the catalyst, they don’t really know what the company does.”

𝐋𝐞𝐬𝐬𝐨𝐧: When business quality and fundamentals are your North Star, price volatility becomes noise.

As Benjamin Graham famously said:
“In the short run, the market is a voting machine. In the long run, it is a weighing machine.”

𝘍𝘶𝘯𝘥𝘢𝘮𝘦𝘯𝘵𝘢𝘭𝘴 𝘦𝘷𝘦𝘯𝘵𝘶𝘢𝘭𝘭𝘺 𝘸𝘪𝘯. 𝘖𝘸𝘯𝘪𝘯𝘨 𝘨𝘳𝘦𝘢𝘵 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘮𝘢𝘬𝘦𝘴 𝘪𝘵 𝘦𝘢𝘴𝘪𝘦𝘳 𝘵𝘰 𝘴𝘵𝘢𝘺 𝘳𝘢𝘵𝘪𝘰𝘯𝘢𝘭.
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𝟐. 𝐋𝐨𝐧𝐠-𝐭𝐞𝐫𝐦𝐢𝐬𝐦

“Long-termism is key.”

𝐋𝐞𝐬𝐬𝐨𝐧: Time is an underappreciated risk reducer. The longer you own a high-quality business, the greater the odds the fundamentals overwhelm short-term price swings.

Most investors drastically underestimate how powerful it is to own a company that can compound earnings and free cash flow at attractive rates for many years.

𝘓𝘰𝘯𝘨-𝘵𝘦𝘳𝘮𝘪𝘴𝘮 𝘢𝘭𝘭𝘰𝘸𝘴 𝘵𝘩𝘦 𝘸𝘦𝘪𝘨𝘩𝘪𝘯𝘨 𝘮𝘢𝘤𝘩𝘪𝘯𝘦 𝘵𝘰 𝘥𝘰 𝘪𝘵𝘴 𝘸𝘰𝘳𝘬.
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𝟑. 𝐂𝐨𝐧𝐜𝐞𝐧𝐭𝐫𝐚𝐭𝐢𝐨𝐧

“We’ve owned a few things — 10 stocks, 15 stocks. We don’t own a hundred things.”

𝐋𝐞𝐬𝐬𝐨𝐧: Concentration forces you to bet on your best ideas.

Stanley Druckenmiller often references what George Soros taught him:

“It’s not whether you’re right or wrong, but how much money you make when you’re right and how much you lose when you’re wrong.”

And Warren Buffett’s punch card concept: If you only had a limited number of decisions in your lifetime, you wouldn’t waste them on your 20th-best idea.

𝘊𝘰𝘯𝘤𝘦𝘯𝘵𝘳𝘢𝘵𝘪𝘰𝘯 + 𝘲𝘶𝘢𝘭𝘪𝘵𝘺 = 𝘢𝘴𝘺𝘮𝘮𝘦𝘵𝘳𝘺.
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𝟒. 𝐈𝐧𝐭𝐮𝐢𝐭𝐢𝐨𝐧

“Another key point is intuition. We work with intuition.”

𝐋𝐞𝐬𝐬𝐨𝐧: Intuition isn’t guessing — it’s pattern recognition built from deep, repeated study.

After analyzing hundreds of businesses, you begin to recognize structural similarities: pricing power, switching costs, regulatory embedment, network effects, installed bases.

𝘋𝘪𝘧𝘧𝘦𝘳𝘦𝘯𝘵 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘪𝘦𝘴. 𝘚𝘢𝘮𝘦 𝘶𝘯𝘥𝘦𝘳𝘭𝘺𝘪𝘯𝘨 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘤𝘴.
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𝐁𝐨𝐭𝐭𝐨𝐦 𝐥𝐢𝐧𝐞: 𝘎𝘳𝘦𝘢𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨 𝘪𝘴𝘯’𝘵 𝘢𝘣𝘰𝘶𝘵 𝘱𝘳𝘦𝘥𝘪𝘤𝘵𝘪𝘯𝘨 𝘮𝘢𝘳𝘬𝘦𝘵𝘴. 𝘙𝘢𝘵𝘩𝘦𝘳, 𝘪𝘵’𝘴 𝘢𝘣𝘰𝘶𝘵 𝘥𝘦𝘦𝘱𝘭𝘺 𝘶𝘯𝘥𝘦𝘳𝘴𝘵𝘢𝘯𝘥𝘪𝘯𝘨 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴, 𝘩𝘰𝘭𝘥𝘪𝘯𝘨 𝘵𝘩𝘦𝘮 𝘧𝘰𝘳 𝘢 𝘭𝘰𝘯𝘨 𝘵𝘪𝘮𝘦, 𝘤𝘰𝘯𝘤𝘦𝘯𝘵𝘳𝘢𝘵𝘪𝘯𝘨 𝘪𝘯 𝘺𝘰𝘶𝘳 𝘣𝘦𝘴𝘵 𝘪𝘥𝘦𝘢𝘴, 𝘢𝘯𝘥 𝘭𝘦𝘵𝘵𝘪𝘯𝘨 𝘦𝘹𝘱𝘦𝘳𝘪𝘦𝘯𝘤𝘦 𝘴𝘩𝘢𝘳𝘱𝘦𝘯 𝘺𝘰𝘶𝘳 𝘫𝘶𝘥𝘨𝘮𝘦𝘯𝘵.

Video: In Good Company | Norges Bank Investment Management (05/14/2025)
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The Transcript
$MA Mastercard CEO: "My headline for you today, we continue to deliver and 2025 was another very strong year..We delivered strong performance in 2025 with full year net revenue growth of 21% or 18% excluding acquisitions year-over-year on a currency-neutral basis. This growth was broad-based with consistently strong growth across regions and product groups"
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