Offshore
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Librarian Capital
$THG (The Hut Group) is a dumpster fire of a company
FT Alphaville has detailed THG's latest whiz
You should read it because it's fun, and also if you are a British American Tobacco $BATS $BTI shareholder
THG's senior independent director (Sue Farr) holds the same role at BAT https://t.co/0bSUoCsmlB
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$THG (The Hut Group) is a dumpster fire of a company
FT Alphaville has detailed THG's latest whiz
You should read it because it's fun, and also if you are a British American Tobacco $BATS $BTI shareholder
THG's senior independent director (Sue Farr) holds the same role at BAT https://t.co/0bSUoCsmlB
THG shareholders have to pay for (maybe) getting rid of Ingenuity https://t.co/DLkcsBH4I0 tweet
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Capital Employed
More Q3 letters have just been added. Lots to delve into over the weekend... 👇
https://t.co/z8VTurKKQI https://t.co/6duFHfNb3m
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More Q3 letters have just been added. Lots to delve into over the weekend... 👇
https://t.co/z8VTurKKQI https://t.co/6duFHfNb3m
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Offshore
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Capital Employed
Interesting idea by @compoundersEX on $7092 Fast Fitness Japan.
The owner of master franchise rights to Anytime Fitness in Japan. 👇
https://t.co/gjrUUWRw2x?
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Interesting idea by @compoundersEX on $7092 Fast Fitness Japan.
The owner of master franchise rights to Anytime Fitness in Japan. 👇
https://t.co/gjrUUWRw2x?
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Offshore
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Hidden Value Gems
“Two-thirds of respondents expect their companies’ profits to increase in the next six months, the largest share since October 2021. Advanced industries is the only industry in which significantly more respondents expect a boost in profits compared with the previous quarter’s survey.”
@McKinsey
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“Two-thirds of respondents expect their companies’ profits to increase in the next six months, the largest share since October 2021. Advanced industries is the only industry in which significantly more respondents expect a boost in profits compared with the previous quarter’s survey.”
@McKinsey
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Offshore
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Hidden Value Gems
An interesting lesson on portfolio management:
In 2019, 101 years after Keynes started his art collection, the five most valuable paintings represented 75% of the collection’s value, with one work alone being 25%. Keynes and Cambridge never “trimmed the Cezanne position” or “added to” the other paintings, most of which didn’t became valuable at all.
h/t @HarveySawikin
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An interesting lesson on portfolio management:
In 2019, 101 years after Keynes started his art collection, the five most valuable paintings represented 75% of the collection’s value, with one work alone being 25%. Keynes and Cambridge never “trimmed the Cezanne position” or “added to” the other paintings, most of which didn’t became valuable at all.
h/t @HarveySawikin
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Offshore
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Hidden Value Gems
There is a risk that everyone is extrapolating the most recent trends, but still worth highlighting:
✅ Serving surging data center power consumption could require more than $2 trillion in new energy generation resources worldwide
✅ US energy demand could outstrip supply within the next few years; meeting demand would require utilities to boost annual generation by up to 26% by 2028.
✅ That’s far beyond the largest five-year generation boost of about 5% that US utilities achieved from 2005 through 2023.
via @BainandCompany
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There is a risk that everyone is extrapolating the most recent trends, but still worth highlighting:
✅ Serving surging data center power consumption could require more than $2 trillion in new energy generation resources worldwide
✅ US energy demand could outstrip supply within the next few years; meeting demand would require utilities to boost annual generation by up to 26% by 2028.
✅ That’s far beyond the largest five-year generation boost of about 5% that US utilities achieved from 2005 through 2023.
via @BainandCompany
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Offshore
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Hidden Value Gems
An interesting stock idea by Tim McElvaine (former colleague of Peter Cundill)
Seaport Entertainment $SEG - a recent spinoff from Howard Hughes
✅ Seaport owns valuable assets, including hospitality properties in Manhattan, a Triple-A baseball team, and Las Vegas air rights, which alone match its current market value.
✅ The additional upside comes from the turnaround of the restaurant business under new management.
✅ Bill Ackman’s Pershing Square owns 38% of the company.
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An interesting stock idea by Tim McElvaine (former colleague of Peter Cundill)
Seaport Entertainment $SEG - a recent spinoff from Howard Hughes
✅ Seaport owns valuable assets, including hospitality properties in Manhattan, a Triple-A baseball team, and Las Vegas air rights, which alone match its current market value.
✅ The additional upside comes from the turnaround of the restaurant business under new management.
✅ Bill Ackman’s Pershing Square owns 38% of the company.
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