Offshore
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Hidden Value Gems
JD Sports is now at 6.3x P/E after lowering its current year PBT guidance to £915-935mn (£4.7bn mkt cap with almost zero net bank debt).
Still growing organically with a positive LfL. With Nike and Adidas challenges and softer UK economy - it is natural to face a less exciting period in the near-term.
Should be a temporary issue.
Insiders have been buying shares.
Over 50% is owned by a British family via little-known Pentland Group.
Dont own the stock, but adding to my watchlist.
$JD.L
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JD Sports is now at 6.3x P/E after lowering its current year PBT guidance to £915-935mn (£4.7bn mkt cap with almost zero net bank debt).
Still growing organically with a positive LfL. With Nike and Adidas challenges and softer UK economy - it is natural to face a less exciting period in the near-term.
Should be a temporary issue.
Insiders have been buying shares.
Over 50% is owned by a British family via little-known Pentland Group.
Dont own the stock, but adding to my watchlist.
$JD.L
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Offshore
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Hidden Value Gems
"It’s far more common for Non-Mega Cap portfolios to outperform Mega Cap portfolios. Since 1968, Mega Cap stocks have outperformed Non-Mega Cap stocks in only 25% of 10-year periods. This outperformance primarily occurred in the 10-year periods ending in 1990, 1999, and recent years."
h/t William Hester @HussmanFunds
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"It’s far more common for Non-Mega Cap portfolios to outperform Mega Cap portfolios. Since 1968, Mega Cap stocks have outperformed Non-Mega Cap stocks in only 25% of 10-year periods. This outperformance primarily occurred in the 10-year periods ending in 1990, 1999, and recent years."
h/t William Hester @HussmanFunds
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Offshore
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Stock Analysis Compilation
Hartford Funds on Moltiply Group SpA $MOLP IM
Thesis: Moltiply Group SpA is a promising investment opportunity in the recovering Italian mortgage market, backed by strong management and potential for significant growth through acquisitions and improved margins.
(Extract from their Q4 letter)
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Hartford Funds on Moltiply Group SpA $MOLP IM
Thesis: Moltiply Group SpA is a promising investment opportunity in the recovering Italian mortgage market, backed by strong management and potential for significant growth through acquisitions and improved margins.
(Extract from their Q4 letter)
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Offshore
Video
Startup Archive
Gmail creator Paul Buchheit on how to build something 100 people love
As Paul, explains, he built the first version of Gmail in a day. Then he iterated his way to 100 people who loved the product:
“The whole thing was just iterating, step-by-step trying to build something that made people happy.”
The team decided that they needed to have 100 happy users before launching Gmail to the world. To achieve this, Paul embedded a quick questionnaire in the interface that asked users:
“Are you happy? Yes or No”
Paul would then seek out all of the “No” responders and ask them directly: “What will it take to make you a happy user?”
He ignored feedback from the people who said things like “it basically needs to be a clone of Outlook” because they were very unlikely to become happy users.
But other people just needed a minor feature or a bug fix. So Paul just worked on these easier requests to convert people to happy users one-by-one.
Email was 30 years old when Paul started building gmail, and it’s pretty much impossible to enter a space like that and build something that appeals to everyone. If you try, what you will end up building is a mediocre product that nobody really loves.
What Paul recommends doing instead—and what he did with gmail—is:
“Build a thing that has really deep appeal. Even if it’s to just a tiny fraction of people—if you can make that small fraction of people obsessively love what you’re building, it’s easier to just grow that group. There’s always people at the margin where if you make the thing slightly better, they’re going to join into that group. It’s easier to start with deep, narrow appeal and broaden it over time than it is to start with broad ‘meh’ and convert ‘meh’ to loving your thing en masse.”
Video source: @ycombinator (2018)
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Gmail creator Paul Buchheit on how to build something 100 people love
As Paul, explains, he built the first version of Gmail in a day. Then he iterated his way to 100 people who loved the product:
“The whole thing was just iterating, step-by-step trying to build something that made people happy.”
The team decided that they needed to have 100 happy users before launching Gmail to the world. To achieve this, Paul embedded a quick questionnaire in the interface that asked users:
“Are you happy? Yes or No”
Paul would then seek out all of the “No” responders and ask them directly: “What will it take to make you a happy user?”
He ignored feedback from the people who said things like “it basically needs to be a clone of Outlook” because they were very unlikely to become happy users.
But other people just needed a minor feature or a bug fix. So Paul just worked on these easier requests to convert people to happy users one-by-one.
Email was 30 years old when Paul started building gmail, and it’s pretty much impossible to enter a space like that and build something that appeals to everyone. If you try, what you will end up building is a mediocre product that nobody really loves.
What Paul recommends doing instead—and what he did with gmail—is:
“Build a thing that has really deep appeal. Even if it’s to just a tiny fraction of people—if you can make that small fraction of people obsessively love what you’re building, it’s easier to just grow that group. There’s always people at the margin where if you make the thing slightly better, they’re going to join into that group. It’s easier to start with deep, narrow appeal and broaden it over time than it is to start with broad ‘meh’ and convert ‘meh’ to loving your thing en masse.”
Video source: @ycombinator (2018)
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Offshore
Video
Startup Archive
RT @mstafford: Terrific video here with @paultoo - one I regularly re-watch and send to founders.
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RT @mstafford: Terrific video here with @paultoo - one I regularly re-watch and send to founders.
Gmail creator Paul Buchheit on how to build something 100 people love
As Paul, explains, he built the first version of Gmail in a day. Then he iterated his way to 100 people who loved the product:
“The whole thing was just iterating, step-by-step trying to build something that made people happy.”
The team decided that they needed to have 100 happy users before launching Gmail to the world. To achieve this, Paul embedded a quick questionnaire in the interface that asked users:
“Are you happy? Yes or No”
Paul would then seek out all of the “No” responders and ask them directly: “What will it take to make you a happy user?”
He ignored feedback from the people who said things like “it basically needs to be a clone of Outlook” because they were very unlikely to become happy users.
But other people just needed a minor feature or a bug fix. So Paul just worked on these easier requests to convert people to happy users one-by-one.
Email was 30 years old when Paul started building gmail, and it’s pretty much impossible to enter a space like that and build something that appeals to everyone. If you try, what you will end up building is a mediocre product that nobody really loves.
What Paul recommends doing instead—and what he did with gmail—is:
“Build a thing that has really deep appeal. Even if it’s to just a tiny fraction of people—if you can make that small fraction of people obsessively love what you’re building, it’s easier to just grow that group. There’s always people at the margin where if you make the thing slightly better, they’re going to join into that group. It’s easier to start with deep, narrow appeal and broaden it over time than it is to start with broad ‘meh’ and convert ‘meh’ to loving your thing en masse.”
Video source: @ycombinator (2018) tweet
Offshore
Video
Startup Archive
RT @mikemcg0: I honestly think this is the best early-stage startup advice of all time.
At @perchdotapp we've been focused solely on the number of people who use the app at least 5 days per week. It's extremely clarifying and forces you to build an incredible product.
If your north star is MAUs, it's easy to get distracted by things that don't really matter (e.g. virality) until you've built an incredible product.
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RT @mikemcg0: I honestly think this is the best early-stage startup advice of all time.
At @perchdotapp we've been focused solely on the number of people who use the app at least 5 days per week. It's extremely clarifying and forces you to build an incredible product.
If your north star is MAUs, it's easy to get distracted by things that don't really matter (e.g. virality) until you've built an incredible product.
Gmail creator Paul Buchheit on how to build something 100 people love
As Paul, explains, he built the first version of Gmail in a day. Then he iterated his way to 100 people who loved the product:
“The whole thing was just iterating, step-by-step trying to build something that made people happy.”
The team decided that they needed to have 100 happy users before launching Gmail to the world. To achieve this, Paul embedded a quick questionnaire in the interface that asked users:
“Are you happy? Yes or No”
Paul would then seek out all of the “No” responders and ask them directly: “What will it take to make you a happy user?”
He ignored feedback from the people who said things like “it basically needs to be a clone of Outlook” because they were very unlikely to become happy users.
But other people just needed a minor feature or a bug fix. So Paul just worked on these easier requests to convert people to happy users one-by-one.
Email was 30 years old when Paul started building gmail, and it’s pretty much impossible to enter a space like that and build something that appeals to everyone. If you try, what you will end up building is a mediocre product that nobody really loves.
What Paul recommends doing instead—and what he did with gmail—is:
“Build a thing that has really deep appeal. Even if it’s to just a tiny fraction of people—if you can make that small fraction of people obsessively love what you’re building, it’s easier to just grow that group. There’s always people at the margin where if you make the thing slightly better, they’re going to join into that group. It’s easier to start with deep, narrow appeal and broaden it over time than it is to start with broad ‘meh’ and convert ‘meh’ to loving your thing en masse.”
Video source: @ycombinator (2018) tweet
Offshore
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InsideArbitrage
QXO $QXO proposed to acquire Beacon Roofing Supply $BECN for $124.25 per share in cash.
🏗️The proposal implies a total transaction value of approximately $11 billion.
🏗️The offer was submitted to the company in a letter on November 11, 2024.
"We believe Beacon shareholders have a right to evaluate our proposal, despite the attempt by Beacon’s Board of Directors to withhold it from them,” said Brad Jacobs, CEO of QXO.
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QXO $QXO proposed to acquire Beacon Roofing Supply $BECN for $124.25 per share in cash.
🏗️The proposal implies a total transaction value of approximately $11 billion.
🏗️The offer was submitted to the company in a letter on November 11, 2024.
"We believe Beacon shareholders have a right to evaluate our proposal, despite the attempt by Beacon’s Board of Directors to withhold it from them,” said Brad Jacobs, CEO of QXO.
Building-Products Distributor QXO $QXO has offered to acquire Beacon Roofing Supply $BECN - WSJ
A deal could be clinched before the end of the year. https://t.co/tTpshJkTOo tweet
Offshore
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Stock Analysis Compilation
Longriver on Wise $WISE LN
Thesis: Wise is a highly profitable fintech company that prioritizes customer value by continuously lowering fees and enhancing services, making it difficult for competitors to keep up.
(Extract from their Q4 letter) https://t.co/1X6TTRAmNc
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Longriver on Wise $WISE LN
Thesis: Wise is a highly profitable fintech company that prioritizes customer value by continuously lowering fees and enhancing services, making it difficult for competitors to keep up.
(Extract from their Q4 letter) https://t.co/1X6TTRAmNc
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