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FRESH OFF THE PRESS 🔥
Investor interview #107 with Sam and Joel from Chess Capital.
They provide a fantastic breakdown of two UK small caps there bullish on. 👇
https://t.co/O64YwQslhE https://t.co/vW4zExKZmI
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FRESH OFF THE PRESS 🔥
Investor interview #107 with Sam and Joel from Chess Capital.
They provide a fantastic breakdown of two UK small caps there bullish on. 👇
https://t.co/O64YwQslhE https://t.co/vW4zExKZmI
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InsideArbitrage
Veritas Is Said in Talks to Acquire Data Firm Dun & Bradstreet $DNB - Bloomberg
📊The private equity firm is talking to banks about financing a potential take-private of the Jacksonville, Florida-based company.
📊The deal under discussion would value Dun & Bradstreet at or around its current market capitalization of about $5.4 billion.
📊Options that Dun & Bradstreet is considering also include separating its finance and risk unit from the sales and marketing business. It’s talking to potential strategic buyers for those assets.
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Veritas Is Said in Talks to Acquire Data Firm Dun & Bradstreet $DNB - Bloomberg
📊The private equity firm is talking to banks about financing a potential take-private of the Jacksonville, Florida-based company.
📊The deal under discussion would value Dun & Bradstreet at or around its current market capitalization of about $5.4 billion.
📊Options that Dun & Bradstreet is considering also include separating its finance and risk unit from the sales and marketing business. It’s talking to potential strategic buyers for those assets.
Dun & Bradstreet $DNB confirmed that it has received inbound interest from third parties and has retained Bank of America $BAC to assist with those inquiries. tweet
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Stock Analysis Compilation
Focus CM on Kingsgate Consolidated Limited $KCN AU
Thesis: Kingsgate is an undervalued Australian gold mining company poised to generate significant cash flow from its recently reopened Chatree mine in Thailand, forecasting robust production and profitability in the coming years.
(Extract from their Q4 letter)
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Focus CM on Kingsgate Consolidated Limited $KCN AU
Thesis: Kingsgate is an undervalued Australian gold mining company poised to generate significant cash flow from its recently reopened Chatree mine in Thailand, forecasting robust production and profitability in the coming years.
(Extract from their Q4 letter)
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InsideArbitrage
Alumis $ALMS to Acquire Acelyrin $SLRN in an All-Stock Deal :
💊Under the terms of the agreement, Acelyrin stockholders will receive 0.4274 shares of Alumis common stock for each share of Acelyrin common stock owned. The deal is valued at $2.82 per share, representing a 48.42% premium from the stock’s last close.
💊The transaction is expected to complete in the second quarter of 2025. Post completion, Alumis stockholders will own about 55% of the combined company, while Acelyrin stockholders will hold about 45%.
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Alumis $ALMS to Acquire Acelyrin $SLRN in an All-Stock Deal :
💊Under the terms of the agreement, Acelyrin stockholders will receive 0.4274 shares of Alumis common stock for each share of Acelyrin common stock owned. The deal is valued at $2.82 per share, representing a 48.42% premium from the stock’s last close.
💊The transaction is expected to complete in the second quarter of 2025. Post completion, Alumis stockholders will own about 55% of the combined company, while Acelyrin stockholders will hold about 45%.
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Startup Archive
RT @BoredElonMusk: But number go up ⬆️ I don’t understand why this didn’t succeed.
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RT @BoredElonMusk: But number go up ⬆️ I don’t understand why this didn’t succeed.
Shopify CEO Tobi Lutke explains Goodhart’s law and why he doesn’t like KPIs or OKRs
“Goodhart’s law is real. The moment a metric becomes a goal, it’s no longer a useful metric… No metric by itself is a complete heuristic for a complex business. There’s a million different tensions in a company, and you can’t keep all of them in harmony by optimizing for one thing.”
For this reason, Shopify doesn’t use KPIs or OKRs. But as Tobi explains, this doesn’t mean they don’t value data and metrics.
“We are extremely data informed. We have invested enormous amounts of money and time into systems that give us basically everything at our fingertips… But what Shopify attempts to do is just not over-fit for what’s quantifiable.”
People love optimizing for highly-quantifiable things because there’s immediate gratification that comes from seeing a number go up. But Tobi thinks that the most important aspects of a product are rarely quantifiable:
“The overlap of the most valuable things you can do with a product and the things that happen to be fully quantifiable are like maybe 20%. Which leaves 80% of a value space unaddressable by the people who only look at quantifiable things.”
He continues:
“Shopify is comfortable with unquantifiable things like taste, quality, passion, love, hate… The sort of deep satisfaction that a craftsperson feels when they’ve done a job well is actually a better proxy if you allow it to be.”
They then have robust analytics systems that tell the company if something’s wrong or a new rollout breaks something.
“We think about it as a cockpit for a pilot. The decisions are still made by pilots, and we think this leads to better results… I think there needs to be more acceptance in business of unquantifiable things… And then metrics take a support function.”
Video source: @lennysan (2025) tweet
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Dimitry Nakhla | Babylon Capital®
Less than 2 years ago, when $ELF traded at $104, I predicted a potential 30-40% downturn 📉
Since then, the stock trades -37% lower 🎯 https://t.co/ttf7scPOm4
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Less than 2 years ago, when $ELF traded at $104, I predicted a potential 30-40% downturn 📉
Since then, the stock trades -37% lower 🎯 https://t.co/ttf7scPOm4
On June 6, 2023 I stated: “I wouldn’t be surprised to see $ELF trade 30-40% lower if the fundamentals don’t substantially improve”
$ELF is now down -16% since
“In the short run, the stock market is a voting machine. But in the long run, it is a weighing machine” — Ben Graham 🗣️ https://t.co/CZcMcvJpa9 tweet
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InsideArbitrage
Immedica Pharma completed the tender offer to purchase all outstanding shares of common stock of Marinus Pharmaceuticals $MRNS for $0.55 per share.
Immedica expects to complete the acquisition of Marinus on February 11, 2025.
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Immedica Pharma completed the tender offer to purchase all outstanding shares of common stock of Marinus Pharmaceuticals $MRNS for $0.55 per share.
Immedica expects to complete the acquisition of Marinus on February 11, 2025.
Immedica Pharma to Acquire Marinus Pharmaceuticals $MRNS in Cash Deal Worth $151 Million -
🧬Immedica, through a subsidiary, will initiate a tender offer to acquire all the outstanding shares of Marinus common stock for a cash purchase price of $0.55 per share.
🧬The offer represents a premium of 48.65% from the stock’s last close.
🧬The deal is expected to close in Q1 2025. tweet
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Startup Archive
Shopify CEO Tobi Lutke: It’s impossible to make great products if you don’t give a sh*t
“Every product in the world, at the end of the day, is simply a reflection of how much the people who created it gave a sh*t… It is not possible to make great products if the people who work on it do not give a sh*t about the product.”
Tobi continues:
“I actually think this is a very important role for product leaders: To make sure that the team gives a sh*it… The product leader has to give a sh*t. Do not engage in work on a product that you don’t care about.”
Tobi believes anyone who wants to build great products has two roles:
1. “You have to understand the thing that’s being done better than everyone else.”
2. “You’ve got to be exothermically infectious with actually caring about this thing because just that one thing alone will make a 10x better product. It’s crazy how much of a change this makes.”
Video source: @lennysan (2025)
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Shopify CEO Tobi Lutke: It’s impossible to make great products if you don’t give a sh*t
“Every product in the world, at the end of the day, is simply a reflection of how much the people who created it gave a sh*t… It is not possible to make great products if the people who work on it do not give a sh*t about the product.”
Tobi continues:
“I actually think this is a very important role for product leaders: To make sure that the team gives a sh*it… The product leader has to give a sh*t. Do not engage in work on a product that you don’t care about.”
Tobi believes anyone who wants to build great products has two roles:
1. “You have to understand the thing that’s being done better than everyone else.”
2. “You’ve got to be exothermically infectious with actually caring about this thing because just that one thing alone will make a 10x better product. It’s crazy how much of a change this makes.”
Video source: @lennysan (2025)
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Hidden Value Gems
Just received my copy of the @_inpractise book. Exciting reading ahead! https://t.co/K5o7l3USg0
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Just received my copy of the @_inpractise book. Exciting reading ahead! https://t.co/K5o7l3USg0
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InsideArbitrage
$PIPR announces a $150 million (~3% of its current market cap) share repurchase program following the recent special dividend announcement
Muted Share Repurchase Activity: No repurchases in 2023 & 2024 - Instead, has been diluting its shares outstanding by 6% over the last 2 years
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$PIPR announces a $150 million (~3% of its current market cap) share repurchase program following the recent special dividend announcement
Muted Share Repurchase Activity: No repurchases in 2023 & 2024 - Instead, has been diluting its shares outstanding by 6% over the last 2 years
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