34. Insurance tends to be an awful business, but a fun way to check the trend in reserving adequacy is converting calendar year loss development triangles into accident year ones. Insurance has goofy accounting so sometimes you can gain insight from the granularity.
-
-
45. Massive presentations about a new position are massive not because that much information is relevant, but because it looks more convincing and shows people you “did your homework” Using research as marketing. Very smart.
Show this thread -
46. The best players in bad industries are worth investigating. If economics are so poor most companies can’t make money, you MAY not have to deal with new players boosting industry capacity. Top dog’s scale can let it wring out profits surrounded by a moat of broken glass.
Show this thread -
47. Real estate has some unique advantages in terms of leverage and taxes, but also has unique problems. If you don’t manage it yourself, you’re subject to an agency problem with expense pass throughs. If you do manage it yourself, you’ve bought a part time job.
Show this thread -
48. The Greater Fool Theory is something to be cherished, not maligned. Playing it opens up a whole new world of opportunities where psychology is a competitive advantage. But if you never try, you’ll never get better.
Show this thread -
50. There is a misunderstanding that advertising returns could not be measured before big tech came along and provided a treasure trove of data. This is false. Keyed ads have been a thing in direct response advertising since before Silicon Valley was even an idea.
Show this thread -
Halfway there. Even fifty is hard without relying on basic bitch truisms! Time for a lunch break! Thanks to everyone who has enjoyed and shared my thread so far.
Show this thread -
Thread continues here. https://twitter.com/laforeverhall/status/1207377927966355456?s=21 …https://twitter.com/LAForeverHall/status/1207377927966355456 …
Show this thread
End of conversation
New conversation -
-
-
This is every company in Japan...
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.