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Stock Analysis Compilation
Night Watch IM on Legget & Platt $LEG US
Thesis: Leggett & Platt (LEG) is poised for recovery as mortgage rates stabilize, supported by aggressive cost cutting and management's confidence, reflected in their share buybacks
(Extract from their Q3 letter) https://t.co/kqG0xMttmD
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Night Watch IM on Legget & Platt $LEG US
Thesis: Leggett & Platt (LEG) is poised for recovery as mortgage rates stabilize, supported by aggressive cost cutting and management's confidence, reflected in their share buybacks
(Extract from their Q3 letter) https://t.co/kqG0xMttmD
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App Economy Insights
Spotify is working on its own ad exchange! 🎙️
🤝Using The Trade Desk's OpenPath.
📺 Initial focus on video ads, then audio.
👀 Aims to compete with Meta and Google.
📢 Ads were 12% of Spotify's revenue in Q2.
Source: Axios. $SPOT $TTD https://t.co/qWWo78iCmN
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Spotify is working on its own ad exchange! 🎙️
🤝Using The Trade Desk's OpenPath.
📺 Initial focus on video ads, then audio.
👀 Aims to compete with Meta and Google.
📢 Ads were 12% of Spotify's revenue in Q2.
Source: Axios. $SPOT $TTD https://t.co/qWWo78iCmN
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Stock Analysis Compilation
Royce IP on nLight $LASR US
Thesis: nLight is positioned for growth in aerospace and defense lasers, while its non-defense segment is expected to rebound as demand recovers, supported by its strong balance sheet.
(Extract from their Q3 letter) https://t.co/JJatLEbVXd
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Royce IP on nLight $LASR US
Thesis: nLight is positioned for growth in aerospace and defense lasers, while its non-defense segment is expected to rebound as demand recovers, supported by its strong balance sheet.
(Extract from their Q3 letter) https://t.co/JJatLEbVXd
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Quiver Quantitative
RT @InsiderRadar: 🚨 Massive New Insider Purchase
Ra Capital Management, who has a board seat at $JANX, just reported the purchase of $53m of the company's stock.
$JANX currently has an ongoing Phase 1 trial evaluating JANX007 as a potential treatment for prostate cancer. https://t.co/5nu5HowNaC
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RT @InsiderRadar: 🚨 Massive New Insider Purchase
Ra Capital Management, who has a board seat at $JANX, just reported the purchase of $53m of the company's stock.
$JANX currently has an ongoing Phase 1 trial evaluating JANX007 as a potential treatment for prostate cancer. https://t.co/5nu5HowNaC
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Quiver Quantitative
BREAKING: Bill Gates has said that he is donating $50M to Kamala Harris.
We have seen Elon Musk donate more than $70M to Donald Trump.
You can track election spending on Quiver, or follow here for updates. https://t.co/xU4ntTpPZq
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BREAKING: Bill Gates has said that he is donating $50M to Kamala Harris.
We have seen Elon Musk donate more than $70M to Donald Trump.
You can track election spending on Quiver, or follow here for updates. https://t.co/xU4ntTpPZq
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Startup Archive
RT @mikemcg0: Came across this comment from Steve Jobs on why he returned to save Apple and thought it was worth sharing:
"If you look at true artists, if they get really good at something, it occurs to them that they can do this for the rest of their lives, and they can be really successful at it to the outside world, but not really successful to themselves. That's the moment that an artist really decides who he or she is. If they keep on risking failure they're still artists. Dylan and Picasso were always risking failure.
This Apple thing is that way for me. I don't want to fail, of course. When I was going in I didn't know how bad it really was, but I still had a lot to think about. I had to consider the implications for Pixar, and for my family, and for my reputation, and all sorts of things. And I finally decided, I don't really care, this is what I want to do. And if I try my best and fail, well, I tried my best."
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RT @mikemcg0: Came across this comment from Steve Jobs on why he returned to save Apple and thought it was worth sharing:
"If you look at true artists, if they get really good at something, it occurs to them that they can do this for the rest of their lives, and they can be really successful at it to the outside world, but not really successful to themselves. That's the moment that an artist really decides who he or she is. If they keep on risking failure they're still artists. Dylan and Picasso were always risking failure.
This Apple thing is that way for me. I don't want to fail, of course. When I was going in I didn't know how bad it really was, but I still had a lot to think about. I had to consider the implications for Pixar, and for my family, and for my reputation, and all sorts of things. And I finally decided, I don't really care, this is what I want to do. And if I try my best and fail, well, I tried my best."
Steve Jobs shares his strategy for saving Apple from bankruptcy
Apple was on the verge of bankruptcy when Steve Jobs returned to the company in July of 1997. The clip below is from a CNBC interview three months later.
When asked about his strategy for turning the company around, Jobs shared the following advice:
“Somebody taught me a long time ago a very valuable lesson which is if you do the right things on the top line, the bottom line will follow. And what they meant by that was: if you get the right strategy, if you have the right people, and if you have the right culture at your company, you’ll do the right products. You’ll do the right marketing. You’ll do the right things logistically and in manufacturing and distribution. And if you do all those things right, the bottom line will follow.”
Source: @CNBC tweet
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Capital Employed
6 more quarterly letters added today. Including from...
@WhiteBrookCap @lukewinchester9 @diegobmilano
https://t.co/z8VTurKKQI https://t.co/WGNEU3Z47W
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6 more quarterly letters added today. Including from...
@WhiteBrookCap @lukewinchester9 @diegobmilano
https://t.co/z8VTurKKQI https://t.co/WGNEU3Z47W
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Stock Analysis Compilation
Platinium on Rakuten $4755 JP
Thesis: Rakuten’s mobile business shows signs of a turnaround with improving metrics and potential for EBITDA breakeven in FY25, while pricing advantages position it for market share growth.
(Extract from their Q3 letter) https://t.co/XvRwiCypih
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Platinium on Rakuten $4755 JP
Thesis: Rakuten’s mobile business shows signs of a turnaround with improving metrics and potential for EBITDA breakeven in FY25, while pricing advantages position it for market share growth.
(Extract from their Q3 letter) https://t.co/XvRwiCypih
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Stock Analysis Compilation
Plural Investing on Watches of Switzerland $WOSG LN
Thesis: Watches of Switzerland’s strong relationship with Rolex and expanding service capabilities position it for double-digit growth, with potential to double its value in three years.
(Extract from their Q3 letter) https://t.co/itRVApRtTG
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Plural Investing on Watches of Switzerland $WOSG LN
Thesis: Watches of Switzerland’s strong relationship with Rolex and expanding service capabilities position it for double-digit growth, with potential to double its value in three years.
(Extract from their Q3 letter) https://t.co/itRVApRtTG
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Startup Archive
Floodgate’s Mike Maples on the best way to come up with startup ideas
“Most people think that the way you come up with good startup ideas is to try and think of a startup. And I like to say, No - that’s exactly wrong. What you do to come up with great startup ideas is you live in the future and notice what’s missing.”
Mike - an early investor in companies like Lyft and Okta - continues:
“If you’re living in the future, there will be unbuilt missing things because if it was all built, you’d be living in the present. And so if you’re living in the future and notice what’s missing, your intuition about what to build is far more likely to be right.”
He gives Marc Andreessen inventing the Internet browser as an example:
“Andreessen didn’t do the Mosaic browser because he thought there was a market for browsers. He was trying to make the internet immediately more useful for him and his team, and his intuition about what to build was very good because he was building the thing he wanted that was missing in the world.”
Maddie Hall, founder of Living Carbon, is another example:
“She was working at Zenefits, and at first she tried to think of a startup and she had ideas that weren’t that good… But then she decided to go follow Sam Altman for a year and be his chief of staff. And Sam Altman visits the future multiple times a day with people. And so that’s what led her to this idea for Living Carbon, which does genetically modified trees… She saw Microsoft - and a bunch of other companies - about to spend a lot of money on carbon takeout. She saw that genetic engineering technology was getting good enough that you could engineer these trees. She married the inflections with the need, and then off she went.”
Video source: @lennysan (Jul 2024)
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Floodgate’s Mike Maples on the best way to come up with startup ideas
“Most people think that the way you come up with good startup ideas is to try and think of a startup. And I like to say, No - that’s exactly wrong. What you do to come up with great startup ideas is you live in the future and notice what’s missing.”
Mike - an early investor in companies like Lyft and Okta - continues:
“If you’re living in the future, there will be unbuilt missing things because if it was all built, you’d be living in the present. And so if you’re living in the future and notice what’s missing, your intuition about what to build is far more likely to be right.”
He gives Marc Andreessen inventing the Internet browser as an example:
“Andreessen didn’t do the Mosaic browser because he thought there was a market for browsers. He was trying to make the internet immediately more useful for him and his team, and his intuition about what to build was very good because he was building the thing he wanted that was missing in the world.”
Maddie Hall, founder of Living Carbon, is another example:
“She was working at Zenefits, and at first she tried to think of a startup and she had ideas that weren’t that good… But then she decided to go follow Sam Altman for a year and be his chief of staff. And Sam Altman visits the future multiple times a day with people. And so that’s what led her to this idea for Living Carbon, which does genetically modified trees… She saw Microsoft - and a bunch of other companies - about to spend a lot of money on carbon takeout. She saw that genetic engineering technology was getting good enough that you could engineer these trees. She married the inflections with the need, and then off she went.”
Video source: @lennysan (Jul 2024)
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