⁠Stock Analysis Compilation
Clearbridge on ELF $ELF US

Thesis: ELF’s ability to scale globally and its innovative products make it a strong contender in the cosmetics industry.

(Extract from their Q2 letter) https://t.co/qHxC3rmFaU
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⁠Librarian Capital
Ulta Beauty $ULTA ROCE was at 40%+ last 3 years

But ROCE is an output and a lagging indicator

And a high ROCE will also means it is worthwhile for competitors to expand even if they are less efficient

This is exactly what has been happening https://t.co/HbUdEkCQsN

"Ulta Beauty: At the Wrong Side of a Capital Cycle"

We review this Q2 Berkshire Hathaway $BRK.B investment ahead of next week’s investor day

$ULTA shares are back to 2022 levels

https://t.co/TRRyrLDXd8 https://t.co/gLMPZtT4cJ - Librarian Capital
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⁠Capital Employed
A load more Q3 letters were added over the weekend.

A treasure trove of ideas and insights... 👇

https://t.co/z8VTurKKQI https://t.co/O2qOIM2TVn
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⁠Capital Employed
Another bull case for Alico $ALCO 🍊

@david_katunaric and @uv_shares have both done good write-ups on Alico too, both worth checking out.

New Investment Idea: Long Alico $ALCO
Favorable Contract Repricing and Real Estate Strategy to Unlock Value
- Tropicana Contract Repricing Alone will Contribute to a 24% Increase in FY '25 Citrus Revenue
- Majority of ALCO’s Value to be Realized Through Execution of Non-Core Land Sales with $84.9M to be Realized in the Near-Term
Free Upside: Volume Recovery From Efficacy of Oxytetracycline (OTC) Treatments and Ramp Up in Tree Count

One pager attached. - Northeastern University Student Value Fund
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⁠Hidden Value Gems
RT @HiddenValueGems: Q3 Oakmark's portfolio changes:

Sold $AXP $MO $GOOG

Purchased $DGE.L $RI.PA $GPC $MKKGY $AKZA.AS $AZE.BR

Summary of Buy theses 🧵👇🏽

1⃣ Diageo & Pernod Ricard

1/4 https://t.co/7tSE6LlprV
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⁠Hidden Value Gems
Quote of the day #106

#elections #StockMarket https://t.co/WBIIbyNzKx
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⁠Librarian Capital
Barry Diller FT interview quotes:

On Hollywood: "It is no more. Netflix, Amazon and Apple are really the controllers of the worldwide film & television business"

On Trump: "I did not like him. It is 45 years now since my first encounter [and] I have never spoken to him since"

Barry Diller: Hollywood’s hold over entertainment ‘is no more’ https://t.co/2looDHfcuc - FT Technology News
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⁠Librarian Capital
"The total returns from the Fund’s three Swiss healthcare companies – Alcon, Novartis, and Roche – have each outperformed the Nasdaq index"
- Troy Global Equity Fund (Aug-24 update)

This appears to be no longer true
And it was not true on longer periods

$ALC $NOVN $ROG https://t.co/J9ocgx2PnE
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⁠Capital Employed
Interesting idea by @HiddenRockCap on Mammoth Energy Services $TUSK

Deep value idea with majority of market value in net cash.

Full write-up here 👇

https://t.co/rKp8wFMY9B
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