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Librarian Capital
Fundsmith comments on mgmt. always interesting
Exited Diageo $DGE in Aug-24 after LAC over-stocking
Exited Estée Lauder $EL in Aug-23 after China blow-up
Exited Adobe $ADBE in Mar-23 after
Exited PayPal $PYPL in Dec-22 after COVID bubble
All at new multi-year lows at the time https://t.co/q73YoYMEIC
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Fundsmith comments on mgmt. always interesting
Exited Diageo $DGE in Aug-24 after LAC over-stocking
Exited Estée Lauder $EL in Aug-23 after China blow-up
Exited Adobe $ADBE in Mar-23 after
Exited PayPal $PYPL in Dec-22 after COVID bubble
All at new multi-year lows at the time https://t.co/q73YoYMEIC
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Hidden Value Gems
“Corporate insiders have been reluctant to snap up shares of their companies. Of all US companies with a transaction by an officer or director in July, only 15.7% reported net buying of company shares. That was the lowest level in the past 10 years. The figure ticked up to 25.7% in August before falling to 21.9% in September, well below the 10-year average of 26.3%.”
via @WSJ
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“Corporate insiders have been reluctant to snap up shares of their companies. Of all US companies with a transaction by an officer or director in July, only 15.7% reported net buying of company shares. That was the lowest level in the past 10 years. The figure ticked up to 25.7% in August before falling to 21.9% in September, well below the 10-year average of 26.3%.”
via @WSJ
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Stock Analysis Compilation
Clearbridge on Criteo $CRTO US
Thesis: Criteo’s pivot to the retail media space positions it for strong growth, making it an undervalued opportunity in the digital advertising sector
(Extract from their Q2 letter) https://t.co/A16teliWvf
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Clearbridge on Criteo $CRTO US
Thesis: Criteo’s pivot to the retail media space positions it for strong growth, making it an undervalued opportunity in the digital advertising sector
(Extract from their Q2 letter) https://t.co/A16teliWvf
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Librarian Capital
UK banks now obligated to reimburse fraud victims
New Payment Systems Regulator rules start today
Reimbursement of up to £85k in 5 business days
Banks need to prove customer "complicit in the fraud" "grossly negligence" to not reimburse
Covers UK-to-UK payments
$LLOY $NWG https://t.co/HszK9hg1nV
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UK banks now obligated to reimburse fraud victims
New Payment Systems Regulator rules start today
Reimbursement of up to £85k in 5 business days
Banks need to prove customer "complicit in the fraud" "grossly negligence" to not reimburse
Covers UK-to-UK payments
$LLOY $NWG https://t.co/HszK9hg1nV
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Librarian Capital
Re-posting list of Fundsmith exits with proof of dates
Exited Diageo $DGE in Aug-24 after LAC over-stocking
Exited Estée Lauder $EL in Aug-23 after China blow-up
Exited Adobe $ADBE in Mar-23 after Figma deal
Exited PayPal $PYPL in Dec-22 after COVID bubble
(Thread) https://t.co/3u89oZMOlO
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Re-posting list of Fundsmith exits with proof of dates
Exited Diageo $DGE in Aug-24 after LAC over-stocking
Exited Estée Lauder $EL in Aug-23 after China blow-up
Exited Adobe $ADBE in Mar-23 after Figma deal
Exited PayPal $PYPL in Dec-22 after COVID bubble
(Thread) https://t.co/3u89oZMOlO
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Librarian Capital
"The smaller the liquor bottle, the bigger the alcohol problem" (h/t yannispappas on Threads)
Similar logic also motivates minimum pack rules for cigarettes
In the US, it is illegal to sell cigarettes in packs of fewer than 20
(21 C.F.R. § 1140.16(b)) cc: $MO $BATS $IMB https://t.co/hoE5EnZzs6
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"The smaller the liquor bottle, the bigger the alcohol problem" (h/t yannispappas on Threads)
Similar logic also motivates minimum pack rules for cigarettes
In the US, it is illegal to sell cigarettes in packs of fewer than 20
(21 C.F.R. § 1140.16(b)) cc: $MO $BATS $IMB https://t.co/hoE5EnZzs6
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