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InsideArbitrage
First Busey Corporation $BUSE and CrossFirst Bankshares, Inc. $CFB jointly announced that both the companies' shareholders have each voted to adopt and approve their merger at the special meetings of shareholders held on December 20, 2024. https://t.co/3zrh5Q0lRV
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First Busey Corporation $BUSE and CrossFirst Bankshares, Inc. $CFB jointly announced that both the companies' shareholders have each voted to adopt and approve their merger at the special meetings of shareholders held on December 20, 2024. https://t.co/3zrh5Q0lRV
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Startup Archive
Netflix founder Reed Hastings on why startups should offer severance packages
Severance packages are unusual for startups, but as Reed explains, Netflix has offered 3+ month severance packages since inception:
“It’s real money, but it’s worth it… You’re going to spend three months managing the person out anyways.”
The legal release you get in exchange for the severance package helps avoid employee lawsuits. And as Reed puts it:
“You can think of the severance payment as a bribe to your managers. It makes it easier for them to do the right thing for the company. Without [generous severance packages], managers put the employee on a performance improvement plan and then the two of them go through this excruciating dance that takes 2-4 months, and it’s just a lot worse.”
Generous severance packages are aligned with Netflix’s focus on increasing talent density over time and what they call “The Keeper Test”:
“If someone in your team announced they were leaving the company, would you fight to keep them, or would it be a relief to see them go, so that you could find a better person?”
Netflix pushes managers to ask themselves this question regularly to ensure they have the best talent.
This method may seem brutal, but it’s shared in full transparency during the hiring process. And generous severance packages make the transition easier for both parties.
Video source: @GreylockVC (2015)
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Netflix founder Reed Hastings on why startups should offer severance packages
Severance packages are unusual for startups, but as Reed explains, Netflix has offered 3+ month severance packages since inception:
“It’s real money, but it’s worth it… You’re going to spend three months managing the person out anyways.”
The legal release you get in exchange for the severance package helps avoid employee lawsuits. And as Reed puts it:
“You can think of the severance payment as a bribe to your managers. It makes it easier for them to do the right thing for the company. Without [generous severance packages], managers put the employee on a performance improvement plan and then the two of them go through this excruciating dance that takes 2-4 months, and it’s just a lot worse.”
Generous severance packages are aligned with Netflix’s focus on increasing talent density over time and what they call “The Keeper Test”:
“If someone in your team announced they were leaving the company, would you fight to keep them, or would it be a relief to see them go, so that you could find a better person?”
Netflix pushes managers to ask themselves this question regularly to ensure they have the best talent.
This method may seem brutal, but it’s shared in full transparency during the hiring process. And generous severance packages make the transition easier for both parties.
Video source: @GreylockVC (2015)
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Quiver Quantitative
RT @InsiderRadar: $FREY stock has risen another 22% this morning, and is now up over 55% since we reported this insider purchase last week https://t.co/1qu6dBD3EV
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RT @InsiderRadar: $FREY stock has risen another 22% this morning, and is now up over 55% since we reported this insider purchase last week https://t.co/1qu6dBD3EV
🚨BREAKING: New CFO Insider Purchase
The interim CFO of $FREY has reported the purchase of ~$900K of the company's stock, increasing his ownership stake by 421%.
The stock had fallen over 82% since its IPO in 2021. tweet
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Stock Analysis Compilation
Artisan Partners on Intapp $INTA US
Thesis: Intapp’s AI-powered, purpose-built software solutions position it for expansion in the professional and financial services sectors
(Extract from their Q3 letter) https://t.co/s8tAKIxWXc
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Artisan Partners on Intapp $INTA US
Thesis: Intapp’s AI-powered, purpose-built software solutions position it for expansion in the professional and financial services sectors
(Extract from their Q3 letter) https://t.co/s8tAKIxWXc
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Quiver Quantitative
Rep. Ro Khanna (D) just said:
"It is outrageous that the Department of Defense is spending $32 billion a year on consultants and the federal government $70 billion"
Khanna is one of the only congressmen who we have not seen taking corporate PAC money.
cc: @DOGE, @elonmusk https://t.co/0zUS3pf5DW
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Rep. Ro Khanna (D) just said:
"It is outrageous that the Department of Defense is spending $32 billion a year on consultants and the federal government $70 billion"
Khanna is one of the only congressmen who we have not seen taking corporate PAC money.
cc: @DOGE, @elonmusk https://t.co/0zUS3pf5DW
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Dimitry Nakhla | Babylon Capital®
$BF.B more than halved since Nov 2020 📉
This is what happens when you pay 47x earnings for a consumer staple stock that’s not growing EPS at a rate that justifies an aggressive multiple
It doesn’t matter that it’s a Dividend Aristocrat selling alcoholic beverages https://t.co/VkLRS1e6tH
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$BF.B more than halved since Nov 2020 📉
This is what happens when you pay 47x earnings for a consumer staple stock that’s not growing EPS at a rate that justifies an aggressive multiple
It doesn’t matter that it’s a Dividend Aristocrat selling alcoholic beverages https://t.co/VkLRS1e6tH
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Dimitry Nakhla | Babylon Capital®
After Liverpool’s exceptional match, beating Tottenham 6-3, & a brace from both @MoSalah and @LuisFDiaz19 I can’t help but re-share this FUT themed post
If you haven’t already, take a few minutes to read this and elevate your investment decisions 🎯
Attention investors ‼️ — I am SURE this post will sharpen your investing mindset and skills. Take a couple minutes to read it in full - it'll be a game-changer for your investment journey.
Yesterday I shared a poll asking if you thought $BMY was undervalued or a value trap, given its 17.32% FCF Yield.
Before I share my opinion, I believe it’s CRITICAL to emphasize the importance of being selective when building a portfolio.
Imagine you were the manager of a fútbol club (in this case Liverpool FC 😉) and you have to choose your Starting XI.
Would you add $BMY? .. More on this later.
You can see my Starting XI in the photo below.
It’s a club of exceptional businesses that have wide moats, pristine balance sheets, excellent returns on invested capital and quality revenues & earnings.
$BMY on the other hand doesn’t really fit in this club as it fails to meet these standards.
Another way to demonstrate this is if you were building a fútbol club & you could choose ANY footballer, I’m sure your club may look something like this:
Cristiano Ronaldo, Lionel Messi, Kylian Mbappe, Vinicius Jr, Jude Bellingham, Alison Becker, Virgil Van Dyke, David Alaba, Kyle Walker, Trent Alexander Arnold, & Ilkay Gundogan.
INVESTING IS NO DIFFERENT.
You have the opportunity to build a SUPERTEAM of quality businesses & nobody is forcing you to buy “subpar players” for your club.
As Warren Buffett even said:
“I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches—representing all the investments that you got to make in a lifetime.”
The mistake MANY investors make is NOT being SELECTIVE enough.
Why add a subpar player to your squad when you could buy Ronaldo?
You’ll become a better investor and enhance your financial welfare by focusing on buying the world’s BEST & MOST QUALITY business when they trade at a fair or better valuation. This should be your focus.
Do not let the daily noise of the market sway you into buying a subpar company just because it trades for a low multiple.
So this brings us to $BMY.
Although $BMY may “appear” undervalued due to its low multiple & high FCF Yield, it could be a value trap and does not belong in my “superteam” of companies.
In short, it lacks many of the qualities I mentioned for the other businesses & has a poor history of performance.
Just have a look at the long-term growth of $BMY Revenues, EPS, & Balance Sheet and you’ll be very unimpressed.
Sure, $BMY may “have moments of excellence” (as any footballer may have in the occasional game) with nice rallies off its lows, but this doesn’t make $BMY a consistent performer for my club.
Yes, it’s important to consider the future when investing (which isn’t even bright for $BMY at the moment). However, it doesn’t mean we should forget about the poor performances $BMY has had over the last 15 years.
I wouldn’t want to count on a player who’s been performing poorly over 15 seasons and hope that this player will finally show me moments of consistent brilliance for the next 5 seasons.
Also, we should to be wise and consider the opportunity cost of owning subpar businesses over excellent businesses over the years.
I am sure there are many investors who have owned $BMY for the last ~5 years in hopes that $BMY would eventually see it supposed “value” realized.
Meanwhile, the same investors would have been better off, owning more shares of companies like $V $MA $GOOG $META $ASML $[...]
After Liverpool’s exceptional match, beating Tottenham 6-3, & a brace from both @MoSalah and @LuisFDiaz19 I can’t help but re-share this FUT themed post
If you haven’t already, take a few minutes to read this and elevate your investment decisions 🎯
Attention investors ‼️ — I am SURE this post will sharpen your investing mindset and skills. Take a couple minutes to read it in full - it'll be a game-changer for your investment journey.
Yesterday I shared a poll asking if you thought $BMY was undervalued or a value trap, given its 17.32% FCF Yield.
Before I share my opinion, I believe it’s CRITICAL to emphasize the importance of being selective when building a portfolio.
Imagine you were the manager of a fútbol club (in this case Liverpool FC 😉) and you have to choose your Starting XI.
Would you add $BMY? .. More on this later.
You can see my Starting XI in the photo below.
It’s a club of exceptional businesses that have wide moats, pristine balance sheets, excellent returns on invested capital and quality revenues & earnings.
$BMY on the other hand doesn’t really fit in this club as it fails to meet these standards.
Another way to demonstrate this is if you were building a fútbol club & you could choose ANY footballer, I’m sure your club may look something like this:
Cristiano Ronaldo, Lionel Messi, Kylian Mbappe, Vinicius Jr, Jude Bellingham, Alison Becker, Virgil Van Dyke, David Alaba, Kyle Walker, Trent Alexander Arnold, & Ilkay Gundogan.
INVESTING IS NO DIFFERENT.
You have the opportunity to build a SUPERTEAM of quality businesses & nobody is forcing you to buy “subpar players” for your club.
As Warren Buffett even said:
“I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches—representing all the investments that you got to make in a lifetime.”
The mistake MANY investors make is NOT being SELECTIVE enough.
Why add a subpar player to your squad when you could buy Ronaldo?
You’ll become a better investor and enhance your financial welfare by focusing on buying the world’s BEST & MOST QUALITY business when they trade at a fair or better valuation. This should be your focus.
Do not let the daily noise of the market sway you into buying a subpar company just because it trades for a low multiple.
So this brings us to $BMY.
Although $BMY may “appear” undervalued due to its low multiple & high FCF Yield, it could be a value trap and does not belong in my “superteam” of companies.
In short, it lacks many of the qualities I mentioned for the other businesses & has a poor history of performance.
Just have a look at the long-term growth of $BMY Revenues, EPS, & Balance Sheet and you’ll be very unimpressed.
Sure, $BMY may “have moments of excellence” (as any footballer may have in the occasional game) with nice rallies off its lows, but this doesn’t make $BMY a consistent performer for my club.
Yes, it’s important to consider the future when investing (which isn’t even bright for $BMY at the moment). However, it doesn’t mean we should forget about the poor performances $BMY has had over the last 15 years.
I wouldn’t want to count on a player who’s been performing poorly over 15 seasons and hope that this player will finally show me moments of consistent brilliance for the next 5 seasons.
Also, we should to be wise and consider the opportunity cost of owning subpar businesses over excellent businesses over the years.
I am sure there are many investors who have owned $BMY for the last ~5 years in hopes that $BMY would eventually see it supposed “value” realized.
Meanwhile, the same investors would have been better off, owning more shares of companies like $V $MA $GOOG $META $ASML $[...]
Offshore
Dimitry Nakhla | Babylon Capital® After Liverpool’s exceptional match, beating Tottenham 6-3, & a brace from both @MoSalah and @LuisFDiaz19 I can’t help but re-share this FUT themed post If you haven’t already, take a few minutes to read this and elevate…
LRCX $NVDA $MSFT $CRM $VRTX $TMO $AAPL etc.
This was my Achilles Heel when I first started my investment journey in 2016. I was TOO focused on valuation & lower multiples rather than QUALITY & growth at a reasonable price.
So when you’re building your club of equities, don’t buy a bench player in place of Lionel Messi or Cristiano Ronaldo. You’d just be downgrading your team & winning less.
If you made it this far, hope this helped!
Feel free to share your starting XI 😉
#stocks #investing - Dimitry Nakhla | Babylon Capital® tweet
This was my Achilles Heel when I first started my investment journey in 2016. I was TOO focused on valuation & lower multiples rather than QUALITY & growth at a reasonable price.
So when you’re building your club of equities, don’t buy a bench player in place of Lionel Messi or Cristiano Ronaldo. You’d just be downgrading your team & winning less.
If you made it this far, hope this helped!
Feel free to share your starting XI 😉
#stocks #investing - Dimitry Nakhla | Babylon Capital® tweet
Offshore
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Stock Analysis Compilation
Diamond Hill on Perma-Fix Environmental Service $PESI US
Thesis: Perma-Fix’s deep regulatory moat and long-term contracts drive significant upside in hazardous waste disposal.
(Extract from their Q3 letter) https://t.co/vBvqvor05B
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Diamond Hill on Perma-Fix Environmental Service $PESI US
Thesis: Perma-Fix’s deep regulatory moat and long-term contracts drive significant upside in hazardous waste disposal.
(Extract from their Q3 letter) https://t.co/vBvqvor05B
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Quiver Quantitative
RT @InsiderRadar: 🚨BREAKING: New Insider Purchase
A director of $LOW has reported the purchase of ~$250K of the company's stock.
This is the first insider buy we have seen at the company in over 3 years.
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RT @InsiderRadar: 🚨BREAKING: New Insider Purchase
A director of $LOW has reported the purchase of ~$250K of the company's stock.
This is the first insider buy we have seen at the company in over 3 years.
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Offshore
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Stock Analysis Compilation
Curreen Capital on VF Corp $VFC US
Thesis: VF Corp’s turnaround under new leadership and its strong apparel brands create an attractive risk-reward opportunity
(Extract from their Q3 letter) https://t.co/WUgJCO7SPv
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Curreen Capital on VF Corp $VFC US
Thesis: VF Corp’s turnaround under new leadership and its strong apparel brands create an attractive risk-reward opportunity
(Extract from their Q3 letter) https://t.co/WUgJCO7SPv
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