Offshore
Photo
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
tweet
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
Photo
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
tweet
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
tweet
Offshore
Photo
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
tweet
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
tweet
Offshore
Photo
Hidden Value Gems
Another set of data suggesting current market sentiment is at about historical average level. https://t.co/YTtdg1NIzm
tweet
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
Offshore
Photo
Capital Employed
Definitely worth it if you can find a copy. Trading at a $100+ on Amazon.
tweet
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
tweet
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
tweet
twitter.com
undefined
undefined
Offshore
Photo
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
tweet
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
tweet
Offshore
Photo
Hidden Value Gems
RT @HiddenValueGems: 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
RT @HiddenValueGems: 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