Morning Brew ☕️
when you're still waiting for the coffee to kick in https://t.co/NyfUwjSWyh
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Sidecar Partners
Found this thought in a 10+ year old investment journal:

“All the information in the world won’t lead to better results and will probably hurt them. Herding creates opportunity / antidote is independent thought and rational behavior.”

Even more true today.
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Morning Brew ☕️
.@jimweberseattle loves a challenge. When he became CEO of @brooksrunning in 2001, the company was $40M in debt. Today, the company earns over $1B in revenue.

Join @businessbarista as he takes his latest guest through the lightning round on this week’s episode of @ImpostersMB. https://t.co/JJtFGmgJ2k
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Special Situations 🌐 Research Newsletter (Jay)
PIMCO bought 1 billion euros of debt backing Apollo payments company at a steep discount.

Latest move by fund managers to pick up stagnant debt stuck on bank balance sheets. Pimco picked up the leveraged loans from $BAC and Barclays in the range of 85 cents on the euro
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Special Situations 🌐 Research Newsletter (Jay)
Dollar is lower today on ECB assessing a 50 bps hike as rate liftoff nears; EUR/USD is up to 1.025, fueling a rally in risk assets.
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Special Situations 🌐 Research Newsletter (Jay)
Apellis Pharmaceuticals $APLS shares surged 26% after the company said that the FDA has accepted and granted a priority review designation of its new drug application of Pegcetacoplan for the treatment of geographic atrophy.
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Special Situations 🌐 Research Newsletter (Jay)
Arista Networks Inc. $ANET is upgraded to buy from hold at Needham, which writes that the communications-equipment company is “one of the most insulated from macro pressures in the sector.” Up 4%
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Paul Graham
Mediocrity is like a magnet pulling organizations toward it. You can only avoid it by constant effort.
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Special Situations 🌐 Research Newsletter (Jay)
Cinemark $CNK upgraded to overweight from equal-weight at $MS Morgan Stanley, with the return of consumers to theaters seemingly not reflected in its shares. The stock is up 11%. $AMC
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Special Situations 🌐 Research Newsletter (Jay)
Johnson & Johnson $JNJ shares flat after the health care giant’s Covid-19 vaccine sales came in at more than double the average analyst estimate.
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Paul Graham
RT @clairlemon: "The Flynn Effect is the name for a gradual increase in performance on IQ tests over the course of the 20th century...From 2021 to the present, Wikipedia has seen a steady series of removals of content about the Effect"

https://t.co/g4mqEFxNkX
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Artisanal Permanent Capital
You could listen to Axel Dumas (Hermès) for hours…

https://t.co/g8DpUtuVHc
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Five Minute Macro
Incredible scenes. https://t.co/jcz76wTZ4N
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Morning Brew ☕️
The Four Generations. https://t.co/Gd9fwnmFyK
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