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Compounding Capital
Mauboussin's basic point is that rise of intangibles and corresponding investments like R&D, which show up as opex, mean GAAP P&L losses can mask accretive investment.
This contrasts with capex intensive companies capitalizing assets on bal. sheet and investing thru CF statement https://t.co/MfIZsrAb6X https://t.co/1QxXU4jdl0
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Mauboussin's basic point is that rise of intangibles and corresponding investments like R&D, which show up as opex, mean GAAP P&L losses can mask accretive investment.
This contrasts with capex intensive companies capitalizing assets on bal. sheet and investing thru CF statement https://t.co/MfIZsrAb6X https://t.co/1QxXU4jdl0
"negative free cash flow is not only fine, but desirable, in cases when the return on investment comfortably exceeds the cost of capital and the company has access to capital."
New post from @mjmauboussin and Callahan!
https://t.co/ND5VV9POGt - Mostly Borrowed Ideastweet
Special Situations 🌐 Research Newsletter (Jay)
We are doing 2 deep dives for next week; a European aerospace duopoly with 75% market share, growing earnings at 20%/year, and $HLLY, a higher quality U.S. specialty parts designer/manufacturer, and one of the few decent De-SPACs. Free for subscribers!
https://t.co/r7f3PlxC5V
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We are doing 2 deep dives for next week; a European aerospace duopoly with 75% market share, growing earnings at 20%/year, and $HLLY, a higher quality U.S. specialty parts designer/manufacturer, and one of the few decent De-SPACs. Free for subscribers!
https://t.co/r7f3PlxC5V
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Special Situations
Plans & Pricing | Special Situations Research Newsletter
Book a 1x1 with an analyst on our team! Get access to weekly ideas / investment memos and financial models on the companies in our database, along with databases of preferred stocks, merger arb candidates, spin candidates and discounted closed end funds!…
Special Situations 🌐 Research Newsletter (Jay)
Next week we are going to share another "boring" CEF muni fund trading at a large discount to Net Asset Value for arbitrage subs with a 30% potential total return.
Also running through our short screens for ideas before the Fed meeting next week!
https://t.co/r7f3PlxC5V
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Next week we are going to share another "boring" CEF muni fund trading at a large discount to Net Asset Value for arbitrage subs with a 30% potential total return.
Also running through our short screens for ideas before the Fed meeting next week!
https://t.co/r7f3PlxC5V
tweet
Special Situations
Plans & Pricing | Special Situations Research Newsletter
Book a 1x1 with an analyst on our team! Get access to weekly ideas / investment memos and financial models on the companies in our database, along with databases of preferred stocks, merger arb candidates, spin candidates and discounted closed end funds!…
Offshore
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Special Situations 🌐 Research Newsletter (Jay)
$TSLA shares up 4% after 2Q adj. EPS beats
-2Q revenue $16.9bn, est $16.88bn
-2Q FCF $621mn vs expectations of $625mn
-2Q EPS of $2.27 vs. exp $1.83/sh
- 2Q bitcoin conversions add $936mn in cash to the balance sheet, converted 75% of #Bitcoin
-Keeps delivery outlook unchanged https://t.co/9pNjWfFSIv
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$TSLA shares up 4% after 2Q adj. EPS beats
-2Q revenue $16.9bn, est $16.88bn
-2Q FCF $621mn vs expectations of $625mn
-2Q EPS of $2.27 vs. exp $1.83/sh
- 2Q bitcoin conversions add $936mn in cash to the balance sheet, converted 75% of #Bitcoin
-Keeps delivery outlook unchanged https://t.co/9pNjWfFSIv
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Offshore
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Morning Brew ☕️
There's a green turf war going on with $250 million at stake. @anishkmitra has the details. https://t.co/sGiPt11zW5
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There's a green turf war going on with $250 million at stake. @anishkmitra has the details. https://t.co/sGiPt11zW5
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Offshore
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Morning Brew ☕️
Tesla converted approx. 75% of Bitcoin purchases into fiat currency. https://t.co/GJpIEeN7ro
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Tesla converted approx. 75% of Bitcoin purchases into fiat currency. https://t.co/GJpIEeN7ro
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Clark Square Capital
RT @72types: Lou Simpson's GEICO shareholder letters.
Link: https://t.co/dTZgi9z5ht https://t.co/qVtf1HU3iC
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RT @72types: Lou Simpson's GEICO shareholder letters.
Link: https://t.co/dTZgi9z5ht https://t.co/qVtf1HU3iC
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Google Docs
Lou Simpson GEICO Letters.pdf
Offshore
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Greg Walsh
RT @J_M_Vogt: Will Thorndike plus two of the most successful search fund entrepreneurs of all time...
Looking to buy small businesses they can own forever...
You know I will be following along
Bristlecone Companies
https://t.co/kPkDkQ2K5U
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RT @J_M_Vogt: Will Thorndike plus two of the most successful search fund entrepreneurs of all time...
Looking to buy small businesses they can own forever...
You know I will be following along
Bristlecone Companies
https://t.co/kPkDkQ2K5U
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