⁠Invest In Assets 📈
A compounder that flies under the radar: Gartner $IT

10-year CAGR: 21.1% https://t.co/zR26Ni3dQY
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⁠Finding Compounders
Mark Sellers https://t.co/sGsIPN5MJw
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⁠Librarian Capital
Fundsmith exited Kone $KNEBV in Aug-22. Down -0.8% in Aug, vs. MSCI World +0.2% (in £); down -12.4% YTD, vs. MSCI World -4.3%. Top 10largely unchanged, w/ $WAT & $SKY (were #9 & 10) leaving, replaced by $ADP (#6) & $PEP (#10) (both top 5 contributors in Aug). 1.1% cash (was 0.7%) https://t.co/PsV2dFJv51
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⁠Hidden Value Gems
RT @HiddenValueGems: A few good points on $ERF.PA by Giverny Capital: https://t.co/bwqa65JeS1
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⁠Librarian Capital
No sign Fundsmith is giving up on Spirits stocks yet

As a reminder, Diageo $DGE and Brown-Forman $BF.B, while each not big enough to be in Fundsmith's top 10, added up to 5.1% of its portfolio at 2023 year-end

Our review of Diageo FY24 results this week below

"Diageo: FY24 Not That Bad; Growth Outside the Americas"

Shares fell ~10% initially after results and remain near their multi-year low; P/E is ~17x even on FY19 EPS

$DGE $DEO $RI $BF.B $RCO

Article link: https://t.co/mCRPLV05lb https://t.co/Q4FOEeSTnJ - Librarian Capital
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⁠Librarian Capital
Why you shouldn't trust social medium algorithms

Twitter is currently recommendinng we explore: "Trump addresses Police Immunity at NABJ"

After everything reported in the press (sample below), is that the most interesting part of his remarks? https://t.co/f4w7eMGMUf
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⁠Librarian Capital
Hershey $HSY 24Q2

Sales -16.8% organic (vol. -18%)
9ppt inventory cut w/ new ERP (guided HSD)
7ppt retailer inventory/shipment timing

NA Confectionery -20.7%
NA Salty Snacks +6.4%
International -10.4%

Cuts 2024 outlook
Sales +2% (was +2~3%)
Adj. EPS "down slightly" (was flat) https://t.co/bbbeDYfoOg
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