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Hidden Value Gems
At the beginning of 2023, the market estimate for aggregate 2025 “Hyperscaler” Capex was just $154bn. This estimate has increased by 51% to $232bn by now.
At the same time, “revenue revisions for 2025 for these four companies have increased by just 4% (and have actually fallen by 9%
since the start of 2022), meaning that their aggregate capex/sales ratio has increased from 10% in 2023 to an estimated 15% in 2025.”
h/t @Argonautcapital
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At the beginning of 2023, the market estimate for aggregate 2025 “Hyperscaler” Capex was just $154bn. This estimate has increased by 51% to $232bn by now.
At the same time, “revenue revisions for 2025 for these four companies have increased by just 4% (and have actually fallen by 9%
since the start of 2022), meaning that their aggregate capex/sales ratio has increased from 10% in 2023 to an estimated 15% in 2025.”
h/t @Argonautcapital
$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
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Quiver Quantitative
Nancy Pelosi made $4.1M in the stock market today, per our estimates.
This is twice as much as the average U.S. citizen will make in their lifetime. https://t.co/p48bR2K6di
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Nancy Pelosi made $4.1M in the stock market today, per our estimates.
This is twice as much as the average U.S. citizen will make in their lifetime. https://t.co/p48bR2K6di
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Finding Compounders
This man runs the biggest sovereign wealth fund in the world
Nicolai Tangen
And he gave a Ted Talk, highly recommended you go listen to it https://t.co/kz5Ko1ntsq
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This man runs the biggest sovereign wealth fund in the world
Nicolai Tangen
And he gave a Ted Talk, highly recommended you go listen to it https://t.co/kz5Ko1ntsq
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Offshore
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Hidden Value Gems
Another set of data suggesting current market sentiment is at about historical average level. https://t.co/YTtdg1NIzm
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Another set of data suggesting current market sentiment is at about historical average level. https://t.co/YTtdg1NIzm
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
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Capital Employed
Definitely worth it if you can find a copy. Trading at a $100+ on Amazon.
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Definitely worth it if you can find a copy. Trading at a $100+ on Amazon.
Book https://t.co/1yMFdL81ar tweet
Capital Employed
Interesting article...
How Relevant is Graham’s Philosophy Today in Hong Kong?
Inspired by Ben Graham’s, we screen the HK broad market using a set of 7 criteria to identify a basket of value stocks.
Full PDF is here👇https://t.co/YzHv8lf6it
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Interesting article...
How Relevant is Graham’s Philosophy Today in Hong Kong?
Inspired by Ben Graham’s, we screen the HK broad market using a set of 7 criteria to identify a basket of value stocks.
Full PDF is here👇https://t.co/YzHv8lf6it
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Offshore
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Hidden Value Gems
There is always something to worry about. Personally doubt that CNY plays a similar role to Yen, which is much more liquid and is easier to borrow. https://t.co/5mnCZ0IghN
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There is always something to worry about. Personally doubt that CNY plays a similar role to Yen, which is much more liquid and is easier to borrow. https://t.co/5mnCZ0IghN
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