Offshore
Photo
Librarian Capital
"Fed’s high-rates era handed $1tn windfall to US banks" (FT)
This is subjective. Taking $JPM ROTCE as example, 2021 was all-time record and this was before hikes
ROTCE ex. one-offs:
2021: 23% reported, 18.5% ex. reserve releases
2023: 21% reported, 19% ex. First Republic gains https://t.co/pGe2QGlfB0
tweet
"Fed’s high-rates era handed $1tn windfall to US banks" (FT)
This is subjective. Taking $JPM ROTCE as example, 2021 was all-time record and this was before hikes
ROTCE ex. one-offs:
2021: 23% reported, 18.5% ex. reserve releases
2023: 21% reported, 19% ex. First Republic gains https://t.co/pGe2QGlfB0
Fed’s high-rates era handed $1tn windfall to US banks https://t.co/n5f8B9oeML tweet
Offshore
Photo
Stock Analysis Compilation
Saltlight Capital on Brookfield $BN US
Brookfield is positioning itself as a key player in the critical global energy expansion needed for AI and net-zero goals, presenting a powerful long-term investment opportunity
(Extract from their Q2 letter) https://t.co/lZjWHhJlDk
tweet
Saltlight Capital on Brookfield $BN US
Brookfield is positioning itself as a key player in the critical global energy expansion needed for AI and net-zero goals, presenting a powerful long-term investment opportunity
(Extract from their Q2 letter) https://t.co/lZjWHhJlDk
tweet
Offshore
Photo
Librarian Capital
"British American Tobacco: Fun While It Lasted? Looking Beyond Rally" $BATS $BTI
Shares have fallen back after a multi-month rally, and structural concerns may be returning in H2
cc: $MO $PM $IMB
https://t.co/axUW3tph51 https://t.co/nvliEMCCwf
tweet
"British American Tobacco: Fun While It Lasted? Looking Beyond Rally" $BATS $BTI
Shares have fallen back after a multi-month rally, and structural concerns may be returning in H2
cc: $MO $PM $IMB
https://t.co/axUW3tph51 https://t.co/nvliEMCCwf
tweet
Offshore
Photo
Stock Analysis Compilation
Azagala Capital on Westaim Corp $WED CN
With strong cash reserves and undervalued assets like Arena, Westaim offers a low-risk investment with significant upside potential over the next two years
(Extract from their Q2 letter) https://t.co/7S5jhOBjeB
tweet
Azagala Capital on Westaim Corp $WED CN
With strong cash reserves and undervalued assets like Arena, Westaim offers a low-risk investment with significant upside potential over the next two years
(Extract from their Q2 letter) https://t.co/7S5jhOBjeB
tweet
Offshore
Photo
Librarian Capital
Microsoft and Altria both saw FCF/share grew by ~140% between FY13 and FY23 (different FY)
This doesn't mean $MSFT vastly outpaced $MO just because of "valuation"
FCF/share is a bad metric when there's a lot of growth CapEx, because this is also subtracted
MSFT Non-GAAP EPS grew ~275% in FY13-23
Far better than MO's +108%
tweet
Microsoft and Altria both saw FCF/share grew by ~140% between FY13 and FY23 (different FY)
This doesn't mean $MSFT vastly outpaced $MO just because of "valuation"
FCF/share is a bad metric when there's a lot of growth CapEx, because this is also subtracted
MSFT Non-GAAP EPS grew ~275% in FY13-23
Far better than MO's +108%
tweet
Offshore
Photo
Stock Analysis Compilation
VGI Partners on Amazon $AMZN US
Amazon’s dual focus on AWS’s AI-driven growth and retail margin expansion positions it for significant upside as its core businesses accelerate
(Extract from their Q2 letter) https://t.co/YMwOXkgGfH
tweet
VGI Partners on Amazon $AMZN US
Amazon’s dual focus on AWS’s AI-driven growth and retail margin expansion positions it for significant upside as its core businesses accelerate
(Extract from their Q2 letter) https://t.co/YMwOXkgGfH
tweet
Offshore
Photo
Librarian Capital
British American Tobacco $BATS $BTI declared in Dec-20 US Velo capacity will be 60m cans* by 2021
Actual US Velo run-rate as of 24H1: 36.5m cans**
Things have not gone to plan
* Cans; pouch volume was already 162m that year
** 20 pouches / can https://t.co/5CDKbfObre
tweet
British American Tobacco $BATS $BTI declared in Dec-20 US Velo capacity will be 60m cans* by 2021
Actual US Velo run-rate as of 24H1: 36.5m cans**
Things have not gone to plan
* Cans; pouch volume was already 162m that year
** 20 pouches / can https://t.co/5CDKbfObre
"British American Tobacco: Fun While It Lasted? Looking Beyond Rally" $BATS $BTI
Shares have fallen back after a multi-month rally, and structural concerns may be returning in H2
cc: $MO $PM $IMB
https://t.co/axUW3tph51 https://t.co/nvliEMCCwf tweet
Offshore
Photo
Librarian Capital
Twitter user numbers have fallen fast under Elon Musk
And they are falling even faster in the UK than the US
PS. We posting the same content on other platforms, and replies there are open given fewer bots
tweet
Twitter user numbers have fallen fast under Elon Musk
And they are falling even faster in the UK than the US
PS. We posting the same content on other platforms, and replies there are open given fewer bots
X “active daily users in the UK have dropped from 8mn a year ago to only around 5.6mn now, with more than a third of that fall coming since the summer riots. The same thing is happening elsewhere, and not just in places where the platform has been banned” https://t.co/Dw0hFQKOQH https://t.co/Gv3MaHtV9z tweet