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Hidden Value Gems
Berkshire selling more Apple and Bofa, building cash pile to a record $325bn (36% of the mkt cap), not buying back a single stock (share repurchases on hold) and only spending $1.5bn on new stock investments.
What is going on? Looks like Buffett is quite bearish on markets...
$BRK.B $BRK.A #BRK
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Berkshire selling more Apple and Bofa, building cash pile to a record $325bn (36% of the mkt cap), not buying back a single stock (share repurchases on hold) and only spending $1.5bn on new stock investments.
What is going on? Looks like Buffett is quite bearish on markets...
$BRK.B $BRK.A #BRK
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Offshore
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Librarian Capital
RT @KamalaHQ: Trump appears to be unraveling
“If I don't win this thing after all this talk, I’m in trouble. Will you please go vote? I came here, whatever the hell time it is, who the hell knows. I’m giving you the full bore. You wouldn’t let me leave in half an hour. I would have been home sleeping right now”
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RT @KamalaHQ: Trump appears to be unraveling
“If I don't win this thing after all this talk, I’m in trouble. Will you please go vote? I came here, whatever the hell time it is, who the hell knows. I’m giving you the full bore. You wouldn’t let me leave in half an hour. I would have been home sleeping right now”
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Librarian Capital
Philip Morris $PM chair Andre Calantzopoulos sold 101,918 shares in Oct-24 at ~$130
He also sold 102,946 shares in Feb-24 at ~$90
He actually sold more shares in Feb, but $ amount in Oct was higher because PM was higher
Don't waste your time over-thinking insider sales https://t.co/AZy3mH4XB0
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Philip Morris $PM chair Andre Calantzopoulos sold 101,918 shares in Oct-24 at ~$130
He also sold 102,946 shares in Feb-24 at ~$90
He actually sold more shares in Feb, but $ amount in Oct was higher because PM was higher
Don't waste your time over-thinking insider sales https://t.co/AZy3mH4XB0
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Offshore
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Librarian Capital
Confirmation bias, insider sales edition
$ELF "substantial insider selling ... but I’m not sure this is particularly insightful"
ELF then $150.07, now $103.12 (-31%)
$PM "stock sales - of material size - by a broad number of top executives"
PM then $91.56, now $130.65 (+43%) https://t.co/0LwfdoNA8c
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Confirmation bias, insider sales edition
$ELF "substantial insider selling ... but I’m not sure this is particularly insightful"
ELF then $150.07, now $103.12 (-31%)
$PM "stock sales - of material size - by a broad number of top executives"
PM then $91.56, now $130.65 (+43%) https://t.co/0LwfdoNA8c
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Investing visuals
Palantir $PLTR earnings preview:
🔹Est. Revenue: $704 Mln (+26.1%)
🔹Est. Earnings per share: $0.09 (+29.8%) https://t.co/QDLUotAt32
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Palantir $PLTR earnings preview:
🔹Est. Revenue: $704 Mln (+26.1%)
🔹Est. Earnings per share: $0.09 (+29.8%) https://t.co/QDLUotAt32
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Librarian Capital
GEICO policy count back to growth in 24Q3
"Increased new biz. & stable retention rates"
YTD policies-in-force decline 2.5% (Q2 4.3%; Q1 6.6%)
Written Premiums +7.3% Q3, +8.4% YTD
Pre-Tax UW earnings doubled (Q3 and YTD)
Loss Ratio ~10ppt better YTD
$BRK.B https://t.co/9Dra2hStmx
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GEICO policy count back to growth in 24Q3
"Increased new biz. & stable retention rates"
YTD policies-in-force decline 2.5% (Q2 4.3%; Q1 6.6%)
Written Premiums +7.3% Q3, +8.4% YTD
Pre-Tax UW earnings doubled (Q3 and YTD)
Loss Ratio ~10ppt better YTD
$BRK.B https://t.co/9Dra2hStmx
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Offshore
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Librarian Capital
Ingersoll Rand $IR buying more pump businesses
Penn Valley Pump: "Leading manufacturer of unique
positive displacement pumps with its Double Disc
Pump technology for use in the municipal,
industrial, chemical, and food industries"
cc Spirax $SPX https://t.co/YiMKLkwU1E
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Ingersoll Rand $IR buying more pump businesses
Penn Valley Pump: "Leading manufacturer of unique
positive displacement pumps with its Double Disc
Pump technology for use in the municipal,
industrial, chemical, and food industries"
cc Spirax $SPX https://t.co/YiMKLkwU1E
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Startup Archive
Whole Foods founder John Mackey: “It’s easy to be a critic. It’s hard to be an entrepreneur.”
John is asked how he balanced his ideals of being an ethical vegan with building Whole Foods. He responds:
“It’s easy for critics to judge and say, ‘You’re selling out. You’re betraying your ideals.’ I’m plant-based and I hear it all the time from vegans: ‘You say you’re an ethical vegan and yet Whole Foods sold meat. So you’re just a hypocrite and a liar.’”
But John will say to these critics, “What exactly have you done? If you think a vegan store will work, do it.”
As John explains, only 0.5% of Americans are vegan and only 2% are vegetarian.
“You just don’t have a that big of a market… And you have to meet the market where you find it — not where you’d like it to be… Perfect is the enemy of good. If you just want to have your ideals, you can have them, but you may not have a business. You have to engage with the market. You can try to influence the market and educate the market. But at the end of the day, they vote every day with their pocketbooks exactly what they want. If you’re not prepared to serve what they want, then they’re going to find it somewhere else.”
He continues:
“I like to say we’re always pushing our ideals, but always listening to our customers. It’s like a dialogue you’re having or a dance — if you don’t dance with your partner, your partner is going to dance away from you.”
John reflects on this tendency that we all have to project our own failings onto other people and criticize them.
“It’s hard to be an entrepreneur. It’s hard to actually create anything — particularly anything that’s going to be successful and meet the test of time. But it’s very easy to find fault with what other people are doing.”
Video source: @TKPPodcast @ShaneAParrish (2024)
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Whole Foods founder John Mackey: “It’s easy to be a critic. It’s hard to be an entrepreneur.”
John is asked how he balanced his ideals of being an ethical vegan with building Whole Foods. He responds:
“It’s easy for critics to judge and say, ‘You’re selling out. You’re betraying your ideals.’ I’m plant-based and I hear it all the time from vegans: ‘You say you’re an ethical vegan and yet Whole Foods sold meat. So you’re just a hypocrite and a liar.’”
But John will say to these critics, “What exactly have you done? If you think a vegan store will work, do it.”
As John explains, only 0.5% of Americans are vegan and only 2% are vegetarian.
“You just don’t have a that big of a market… And you have to meet the market where you find it — not where you’d like it to be… Perfect is the enemy of good. If you just want to have your ideals, you can have them, but you may not have a business. You have to engage with the market. You can try to influence the market and educate the market. But at the end of the day, they vote every day with their pocketbooks exactly what they want. If you’re not prepared to serve what they want, then they’re going to find it somewhere else.”
He continues:
“I like to say we’re always pushing our ideals, but always listening to our customers. It’s like a dialogue you’re having or a dance — if you don’t dance with your partner, your partner is going to dance away from you.”
John reflects on this tendency that we all have to project our own failings onto other people and criticize them.
“It’s hard to be an entrepreneur. It’s hard to actually create anything — particularly anything that’s going to be successful and meet the test of time. But it’s very easy to find fault with what other people are doing.”
Video source: @TKPPodcast @ShaneAParrish (2024)
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