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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Special Situations 🌐 Research Newsletter (Jay)
RT @Gamingtrader37: All I do is punch up on Twitter, I never shy away from debate with anyone

The pattern ive seen often is experts tuck their tail and hate having to debate with logic

Most people just want to yap. One of the few people ive seen who always can back their thesis is @SpecialSitsNews
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Morning Brew ☕️
RT @MarketingBrew: Why does Reddit appear to block ads on r/islam, r/israel, and r/redhotchilipeppers, but not r/christianity and r/drunk?

@Ryanbarwick dives in. 👇 https://t.co/XW0HkRlmqb
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