Offshore
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The Institutional Limited Partner
2024 Exit data
+33%, the average uplift from prior NAV seen by a Top 10 secondary firm on 2024 YTD on all exits across its portfolio. This is significantly up from 2023, which stood at +19% and above the long-term average of +27%. https://t.co/sT0w0UmHZx
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2024 Exit data
+33%, the average uplift from prior NAV seen by a Top 10 secondary firm on 2024 YTD on all exits across its portfolio. This is significantly up from 2023, which stood at +19% and above the long-term average of +27%. https://t.co/sT0w0UmHZx
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Offshore
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Hidden Value Gems
Looking forward to the London Value Investor Conference 2024 this Wednesday (15 May), with Joel Greenblatt among the speakers.
Please get in touch if you plan to be there! https://t.co/aMYhRwItTh
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Looking forward to the London Value Investor Conference 2024 this Wednesday (15 May), with Joel Greenblatt among the speakers.
Please get in touch if you plan to be there! https://t.co/aMYhRwItTh
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Hidden Value Gems
Why it is worth looking at 🇬🇧 stock market:
✅ there were 12 bids in Q1 alone
✅ record number of companies launched buybacks in the past 12 months
✅ a combination of buyback and dividends leads to 5.5% yield for UK vs 4.5% for Europe and 3.5% for US
✅ of £1.9B allocated to equities in April, £1.25B went into North America. Record pessimism sets expectations low
✅ Sell-side coverage has dropped to record low, more market inefficiencies
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Why it is worth looking at 🇬🇧 stock market:
✅ there were 12 bids in Q1 alone
✅ record number of companies launched buybacks in the past 12 months
✅ a combination of buyback and dividends leads to 5.5% yield for UK vs 4.5% for Europe and 3.5% for US
✅ of £1.9B allocated to equities in April, £1.25B went into North America. Record pessimism sets expectations low
✅ Sell-side coverage has dropped to record low, more market inefficiencies
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Offshore
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Antonio Linares
$PLTR contribution margin up from 54% to 56% from 2022 to 2023 🔮 https://t.co/q7cQnq6PcD
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$PLTR contribution margin up from 54% to 56% from 2022 to 2023 🔮 https://t.co/q7cQnq6PcD
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Offshore
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The Long Investor
Disappears for 3 years and comes back at the market top.
Chasers chase in Wave 5.
$GME is for traders to take advantage of vulnerable newbies coming into the market
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Disappears for 3 years and comes back at the market top.
Chasers chase in Wave 5.
$GME is for traders to take advantage of vulnerable newbies coming into the market
https://t.co/YgjVqtgcNS tweet
Offshore
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Antonio Linares
The most impressive thing about $HIMS is how the company is sharing economies of scale with customers, while simultaneously driving leverage, as evidenced by the rising margins.
I've only seen this in world class companies like $AMZN and $TSLA.
Gross margins are up from 80% to 84% YoY and OpEx as a % of revenue is down from 86.10% to 78.77%, as $HIMS continues to reduce prices.
This dynamic is unseen in the US healthcare industry, which is an inflationary hamster wheel that increases prices for customers yearly, such that the amount patients have to pay out-of-pocket on top of their insurance is making healthcare increasingly unaccessible.
Simultaneously, $HIMS is reinvesting more and more capital every quarter. From Q1 2023 to Q1 2024, CapEx has increased from $0.6M to $10.6M. This is a 17X increase in just one year.
$HIMS therefore stands as a beacon of customer centricity in an industry that otherwise doesn't care about the accessibility of its services and products. By reinvesting more capital every year, $HIMS has the potential to snowball into something much bigger.
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The most impressive thing about $HIMS is how the company is sharing economies of scale with customers, while simultaneously driving leverage, as evidenced by the rising margins.
I've only seen this in world class companies like $AMZN and $TSLA.
Gross margins are up from 80% to 84% YoY and OpEx as a % of revenue is down from 86.10% to 78.77%, as $HIMS continues to reduce prices.
This dynamic is unseen in the US healthcare industry, which is an inflationary hamster wheel that increases prices for customers yearly, such that the amount patients have to pay out-of-pocket on top of their insurance is making healthcare increasingly unaccessible.
Simultaneously, $HIMS is reinvesting more and more capital every quarter. From Q1 2023 to Q1 2024, CapEx has increased from $0.6M to $10.6M. This is a 17X increase in just one year.
$HIMS therefore stands as a beacon of customer centricity in an industry that otherwise doesn't care about the accessibility of its services and products. By reinvesting more capital every year, $HIMS has the potential to snowball into something much bigger.
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The Long Investor
Bond sale to increase spending
China is getting ready to increase its QE.
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Bond sale to increase spending
China is getting ready to increase its QE.
China is set to start a $138 billion special sovereign bond sale Friday https://t.co/Tu7moXECBA tweet
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Offshore
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Antonio Linares
Framing $AMD and $NVDA in the context of an "AI Boom" is ignorant. AI or not, humanity is processing exponentially more info every decade.
My focus is on whether a given company can provide that computation with a durable cost/performance advantage to the market or not. https://t.co/k0Vmg3LzpA
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Framing $AMD and $NVDA in the context of an "AI Boom" is ignorant. AI or not, humanity is processing exponentially more info every decade.
My focus is on whether a given company can provide that computation with a durable cost/performance advantage to the market or not. https://t.co/k0Vmg3LzpA
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