Finding Compounders
Seth Klarman: Why Most Investment Managers Have it Backwards https://t.co/vLVd3Ms8kh
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Finding Compounders
Seth Klarman on Behavioural Factors https://t.co/4PmVm4Xahh
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Finding Compounders
I’m the long run , sales growth is the key driver of Long Term Stock Performance

Source : BCG Analysis and Morgan Stanley Research https://t.co/Ud8Cbk6FxM
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Finding Compounders
“Position sizing was 70 to 80% of the game. The reason that struck me is because, first of all, purportedly George Soros made money on fewer than 30% of his trades.”

What Stanley Druckenmiller taught Michael Mauboussin on investing https://t.co/I2GNiU297m
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App Economy Insights
$DIS Disney Q4 FY25 (Sept. quarter):

• Revenue flat Y/Y at $22.5B ($0.3B miss).
• Non-GAAP EPS $1.11 ($0.09 beat).

Segment operating margin:
🍿 Entertainment: 7% (-3pp Y/Y).
🏈 Sports: 23% (-1pp Y/Y).
🏰 Experience: 21% (-1pp Y/Y).

Outlook: 10%+ adj. EPS growth in FY26/27. https://t.co/EX5ABslCXy
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Finding Compounders
Balance Sheet Financial Statement Analysis https://t.co/8IKBe8OYPP
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App Economy Insights
$TCEHY Tencent Q3 FY25:

Revenue +15% Y/Y to RMB193B ($27.2B).
🎮 Gaming +23%
💬 Social Networks +5%
📢 Marketing Services +21%
💳 Fintech & Business +10%
Weixin/WeChat: 1.4B MAU (+2% Y/Y).
Capex -24% to RMB13B. https://t.co/IYdln96T5R
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