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Finding Compounders
The biggest mistakes real estate investors make
By John T Reed https://t.co/zz0pWqpTg1
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The biggest mistakes real estate investors make
By John T Reed https://t.co/zz0pWqpTg1
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Startup Archive
Steve Jobs on how to build a great brand
After re-joining Apple in 1996, Steve Jobs announced the “Think different” campaign with the following statement:
“To me, marketing is about values. This is a very complicated and noisy world. We’re not going to get a chance to get people to remember much about us. No company is. So we have to be really clear on what we want them to know about us.”
He cites Nike as one of the greatest jobs of marketing the universe has ever seen:
“Remember, Nike sells a commodity—they sell shoes! And yet when you think of Nike, you feel something different than a shoe company. In their ads, they don’t ever talk about the product. They don’t ever tell you about their air soles and why they are better than Reebok’s air soles. What does Nike do in their advertising? They honor great athletes, and they honor great athletics. That’s who they are, that’s what they are about.”
Jobs goes on to explain how the Apple team arrived at the “Think Different” campaign:
“Our customers want to know who is Apple and what is it that we stand for. Where do we fit in this world? What we’re about isn’t making boxes for people to get their jobs done—although we do that well. We do that better than almost anybody, in some cases. But Apple is about something more than that. Apple at the core—its core value—is that we believe people with passion can change the world for the better… And that those people who are crazy enough to think that they can change the world are the ones who actually do.”
He continues:
“And so, what we’re going to do in our first brand marketing campaign in several years is to get back to that core value. A lot of things have changed. The market is in a totally different place than it was a decade ago, and Apple is totally different… the products and the distribution strategy and the manufacturing are totally different. And we understand that. But values and core values—those things shouldn’t change. The things that Apple believed in, at its core, are the same things that Apple really stands for today.”
Apple’s “Think Different” campaign was designed to honor those people who have changed the world. And as Jobs so eloquently put it:
“Some of them are living. Some of them are not. But the ones that aren’t, you’ll know that if they ever used a computer, it would’ve been a Mac. The theme of the campaign is ‘Think Different.’ It’s honoring the people who think different and who move this world forward. And it is what we are about. It touches the soul of this company.”
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Steve Jobs on how to build a great brand
After re-joining Apple in 1996, Steve Jobs announced the “Think different” campaign with the following statement:
“To me, marketing is about values. This is a very complicated and noisy world. We’re not going to get a chance to get people to remember much about us. No company is. So we have to be really clear on what we want them to know about us.”
He cites Nike as one of the greatest jobs of marketing the universe has ever seen:
“Remember, Nike sells a commodity—they sell shoes! And yet when you think of Nike, you feel something different than a shoe company. In their ads, they don’t ever talk about the product. They don’t ever tell you about their air soles and why they are better than Reebok’s air soles. What does Nike do in their advertising? They honor great athletes, and they honor great athletics. That’s who they are, that’s what they are about.”
Jobs goes on to explain how the Apple team arrived at the “Think Different” campaign:
“Our customers want to know who is Apple and what is it that we stand for. Where do we fit in this world? What we’re about isn’t making boxes for people to get their jobs done—although we do that well. We do that better than almost anybody, in some cases. But Apple is about something more than that. Apple at the core—its core value—is that we believe people with passion can change the world for the better… And that those people who are crazy enough to think that they can change the world are the ones who actually do.”
He continues:
“And so, what we’re going to do in our first brand marketing campaign in several years is to get back to that core value. A lot of things have changed. The market is in a totally different place than it was a decade ago, and Apple is totally different… the products and the distribution strategy and the manufacturing are totally different. And we understand that. But values and core values—those things shouldn’t change. The things that Apple believed in, at its core, are the same things that Apple really stands for today.”
Apple’s “Think Different” campaign was designed to honor those people who have changed the world. And as Jobs so eloquently put it:
“Some of them are living. Some of them are not. But the ones that aren’t, you’ll know that if they ever used a computer, it would’ve been a Mac. The theme of the campaign is ‘Think Different.’ It’s honoring the people who think different and who move this world forward. And it is what we are about. It touches the soul of this company.”
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Finding Compounders
Warren Buffett’s letter to Congressman John Dingwell warning against derivatives in 1982.
“We do not need more people gambling in nonessential instruments identified with the stock market in this country, nor brokers who encourage them to do so.” https://t.co/uggDvgWItb
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Warren Buffett’s letter to Congressman John Dingwell warning against derivatives in 1982.
“We do not need more people gambling in nonessential instruments identified with the stock market in this country, nor brokers who encourage them to do so.” https://t.co/uggDvgWItb
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Stock Analysis Compilation
Artisan Non US Small Mid Growth Strategy on ConvaTec $CTEC LN
Thesis: ConvaTec is an attractively valued UK-based company with promising potential in infusion set pumps, strong recurring revenues, and innovative technologies, projecting a high-single-digit free cash flow yield.
(Extract from their Q4 letter)
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Artisan Non US Small Mid Growth Strategy on ConvaTec $CTEC LN
Thesis: ConvaTec is an attractively valued UK-based company with promising potential in infusion set pumps, strong recurring revenues, and innovative technologies, projecting a high-single-digit free cash flow yield.
(Extract from their Q4 letter)
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Dimitry Nakhla | Babylon Capital®
Many investors are wondering why Dev didn’t accumulate more $ASML
Here’s likely why he didn’t:
Dev cares most about predictability — $ASML is an exceptional business yet it deals with some geopolitical risks & isn’t as predictable as businesses like $FICO $SPGI $MA $INTU etc, so it makes sense he builds a small allocation & maintains a small allocation
That’s how you mediate the risk of greater uncertainty, relative to your other holdings
I imagine Dev wants to allocate ~2.5% to ~5.0% of capital to $ASML, giving him enough skin in the game to benefit from the long-term tailwinds of technological advancement & the importance that $ASML plays in propelling technology forward
At the same time, with that allocation you can still benefit greatly if the thesis for $ASML plays out
It’s possible that Dev added more shares in Q1 2025 in January when $ASML traded for $675-$685
Considering he entered $ASML ~$724 & doubled down ~$833 (average purchase price ~$780), Dev likely wants to be very strategic & patient with his next purchase, assuming he still intends to build the position
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Many investors are wondering why Dev didn’t accumulate more $ASML
Here’s likely why he didn’t:
Dev cares most about predictability — $ASML is an exceptional business yet it deals with some geopolitical risks & isn’t as predictable as businesses like $FICO $SPGI $MA $INTU etc, so it makes sense he builds a small allocation & maintains a small allocation
That’s how you mediate the risk of greater uncertainty, relative to your other holdings
I imagine Dev wants to allocate ~2.5% to ~5.0% of capital to $ASML, giving him enough skin in the game to benefit from the long-term tailwinds of technological advancement & the importance that $ASML plays in propelling technology forward
At the same time, with that allocation you can still benefit greatly if the thesis for $ASML plays out
It’s possible that Dev added more shares in Q1 2025 in January when $ASML traded for $675-$685
Considering he entered $ASML ~$724 & doubled down ~$833 (average purchase price ~$780), Dev likely wants to be very strategic & patient with his next purchase, assuming he still intends to build the position
Dev Kantesaria | VFCM 13F Q4 24’
$FICO $SPGI $MA $MCO $V $INTU $ASML $EFX $MSCI
___
The CRAZY thing:
I pitched $MSCI to Dev on April 23, 2024 when it traded for $444 (many of you may remember that analysis) 🌐
Would’ve been great to see Dev pick it up at historic levels then https://t.co/V2CUhqcxI6 tweet
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AkhenOsiris
Note to CEOs with languishing stock prices:
META 20 day (!) win streak started on this day.
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Note to CEOs with languishing stock prices:
META 20 day (!) win streak started on this day.
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