⁠The Kobeissi Letter
BREAKING: S&P 500 futures pare gains and fall below 5,400.

Now up just +35 points after the “tariff exemptions” this weekend.

We may see futures red by the morning. https://t.co/PdyXD4w2LL
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⁠The Kobeissi Letter
BREAKING: The 10Y Note Yield rises back above 4.50% at the open.

The bond market is in control. https://t.co/sfPGBjEWvr
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⁠The Kobeissi Letter
BREAKING: Apple, $AAPL, opens +7% higher in overnight trading. https://t.co/JSW0Hurtgy
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⁠The Kobeissi Letter
BREAKING: Goldman Sachs says gold “could plausibly” trade around $4,500/oz by the end of 2025, implying another +38% of upside.
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⁠The Kobeissi Letter
Tariffs on semiconductor and electronic imports were "reduced" from 145% to 20%.

Meanwhile, S&P 500 futures are up just 30 points right now.

Investors have lost all confidence in this market. https://t.co/WYb57V2bZC
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⁠Finding Compounders
François Rochon runs Giveryn Capital which has returned 15.7% annually since 1993.

Here is an article he wrote about why Timing the Market doesn’t work https://t.co/nXAimoRqGm
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⁠Finding Compounders
The outcome of James O'Shaughnessy’s research .

“Perhaps the most compelling strategy for delivering attractive long term returns came from value investing.” https://t.co/pvL7TLgfq6
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⁠Finding Compounders
Michael Porter on price competition https://t.co/l5hj5Jo57f
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⁠Finding Compounders
In for some great reading?

Transcript of Li Lu’s lecture at Peking University.

Link: https://t.co/UTTVXDT4rc… https://t.co/Pl8Y6dWvxe
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⁠Finding Compounders
Taken from Arlingtons investor letter

Focus on controlling the down side- I’m very strict on what I avoid .

I keep my investable universe simple
- high insider ownership
- shares outstanding on a downward trend
- no debt burdened companies
-simple business models
- only profitable companies

I’m aware I’m going to miss out on some compounders due to my strict criteria - I’m content with that knowing that I have controlled my down side risk
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