Offshore
Photo
Hidden Value Gems
Market sentiment seems to be cautious with 61% of respondents seeing the market as overvalued (vs 43% avg for 1998-2023).
Not in a bubble from this point of view. https://t.co/rvVQUcOCHi
tweet
Market sentiment seems to be cautious with 61% of respondents seeing the market as overvalued (vs 43% avg for 1998-2023).
Not in a bubble from this point of view. https://t.co/rvVQUcOCHi
tweet
Offshore
Photo
Hidden Value Gems
RT @HiddenValueGems: $MSFT has seen the largest increase in Capex/Sales ratio in the past 10 years (now at 18% compared to 3% in 2014).
$AAPL Capex/Sales has actually declined over the same period (from 3% to 2%). https://t.co/83npeBxqn6
tweet
RT @HiddenValueGems: $MSFT has seen the largest increase in Capex/Sales ratio in the past 10 years (now at 18% compared to 3% in 2014).
$AAPL Capex/Sales has actually declined over the same period (from 3% to 2%). https://t.co/83npeBxqn6
tweet
Offshore
Photo
Hidden Value Gems
Just saw this really interesting piece by Bridgewater Associates on the Top 10 companies in each decade and their subsequent performance.
One thing to note is that many stocks stayed in the Top10 for 30-40 years, so just becoming one of the largest companies doesn't mean it is a bad stock going forward.
More points below 🧵👇
1/10
tweet
Just saw this really interesting piece by Bridgewater Associates on the Top 10 companies in each decade and their subsequent performance.
One thing to note is that many stocks stayed in the Top10 for 30-40 years, so just becoming one of the largest companies doesn't mean it is a bad stock going forward.
More points below 🧵👇
1/10
tweet
Offshore
Photo
Finding Compounders
Warren Buffett
“Avoid mindless imitation of peers. I never talk to brokers or analysts. You have to think for yourself.” https://t.co/jVhGlxDCgB
tweet
Warren Buffett
“Avoid mindless imitation of peers. I never talk to brokers or analysts. You have to think for yourself.” https://t.co/jVhGlxDCgB
tweet
Offshore
Photo
Librarian Capital
Beware of people doing victory laps this week
Example: FT article saying Ruffer Investment Company's $RICA gained 4% "since the start of July", crediting bets on JPY, gold, etc.
What it doesn't say: RICA NAV gained just 0.4% YTD before "the start of July"; shares down 0.9% https://t.co/Ks0WdZwGB3
tweet
Beware of people doing victory laps this week
Example: FT article saying Ruffer Investment Company's $RICA gained 4% "since the start of July", crediting bets on JPY, gold, etc.
What it doesn't say: RICA NAV gained just 0.4% YTD before "the start of July"; shares down 0.9% https://t.co/Ks0WdZwGB3
‘Wizard of Oz’ among big winners from market turmoil https://t.co/zOZ8cIuCvU tweet
Dimitry Nakhla | Babylon Capital®
“The focus of most investors differs from that of value investors. Most investors are primarily oriented toward return, how much they can make, and pay little attention to risk, how much they can lose.”
— Seth Klarman 🗣️
#stocks #investing
tweet
“The focus of most investors differs from that of value investors. Most investors are primarily oriented toward return, how much they can make, and pay little attention to risk, how much they can lose.”
— Seth Klarman 🗣️
#stocks #investing
tweet
Offshore
Photo
Librarian Capital
"The Mess at Yosemite" (Bloomberg Businessweek)
"Congress passed a law that gave concessionaires the upper hand in negotiations with the parks ... The NPS (National Park Service) was forced to cede the vast majority of park profits to concessionaires in exchange for as little as 0.75% of gross revenue"
$ARMK
h/t @EpicureanDeal
tweet
"The Mess at Yosemite" (Bloomberg Businessweek)
"Congress passed a law that gave concessionaires the upper hand in negotiations with the parks ... The NPS (National Park Service) was forced to cede the vast majority of park profits to concessionaires in exchange for as little as 0.75% of gross revenue"
$ARMK
h/t @EpicureanDeal
THREAD 1/ Today @BW published my investigation into how Yosemite, the birthplace of the national parks, has become more dangerous for people and wildlife alike on the watch of Aramark, the private contractor that runs most visitor services. Gift link: https://t.co/ULsVBlg3Mr tweet
Offshore
Photo
Hidden Value Gems
RT @HiddenValueGems: If you bought $INTC shares in August 2009, you would be down -20% today, despite huge demand for chips and the rise of the global tech sector... https://t.co/QMSrLcXusu
tweet
RT @HiddenValueGems: If you bought $INTC shares in August 2009, you would be down -20% today, despite huge demand for chips and the rise of the global tech sector... https://t.co/QMSrLcXusu
tweet
Librarian Capital
"Vista Winds Down Hedge Fund, Citing Dominance of Private Markets" (Bloomberg)
"Founded in 2014 and ... managing about $550m ... the fund’s total net return was 12.8% YTD and 8.5% annualized since inception"
Skillsets for stockpicking and PE overlap only a little
tweet
"Vista Winds Down Hedge Fund, Citing Dominance of Private Markets" (Bloomberg)
"Founded in 2014 and ... managing about $550m ... the fund’s total net return was 12.8% YTD and 8.5% annualized since inception"
Skillsets for stockpicking and PE overlap only a little
Vista Equity Partners has told investors it’s winding down its hedge fund amid a “structural shift” in markets toward private assets. https://t.co/wMIZl9HQxn tweet
twitter.com
undefined
undefined
Offshore
Photo
App Economy Insights
$ABNB Airbnb Q2 FY24:
💵 GBV +11% Y/Y to $21.2B.
🛌 Nights booked +9% Y/Y to 125M.
• Revenue +11% Y/Y to $2.75B ($10M beat).
• Operating margin 18% (-3pp Y/Y).
• EPS $0.86 ($0.05 miss).
• FCF +16% Y/Y to $1.0B.
Q3 Guidance:
• Revenue +9% to $3.7B ($3.84B expected). https://t.co/iRLtSFznbg
tweet
$ABNB Airbnb Q2 FY24:
💵 GBV +11% Y/Y to $21.2B.
🛌 Nights booked +9% Y/Y to 125M.
• Revenue +11% Y/Y to $2.75B ($10M beat).
• Operating margin 18% (-3pp Y/Y).
• EPS $0.86 ($0.05 miss).
• FCF +16% Y/Y to $1.0B.
Q3 Guidance:
• Revenue +9% to $3.7B ($3.84B expected). https://t.co/iRLtSFznbg
tweet