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
-
51. Some of the best investment opportunities are found just by stumbling into them in your personal life and appreciating how cool the company is. Peter Lynch was pretty much right about this and this is also a big reason why emotion and empathy can be advantageous.
3 replies 12 retweets 165 likesShow this thread -
52. Someone asked for elaboration on tweet #3. You can count the present value of real estate operating leases as debt if you want, I suppose, but you should think about the lease rejection damages cap. 502(b)(6) https://www.law.cornell.edu/uscode/text/11/502 …
1 reply 2 retweets 52 likesShow this thread -
53. Following up, it’s hard to perfectly transmit knowledge and sometimes the understanding of a subject becomes goofy because the knowledge has become a Xerox of a Xerox of a Xerox of itself. Knowledge is viral and without close inspection, can rot and become antiknowledge.
2 replies 8 retweets 70 likesShow this thread -
54. This has happened with people considering real estate leases as a form of debt, but it has also happened generally. If you copy a mentor or authority figure blindly, you will copy their defects as well. Learning through osmosis is wonderful but also dangerous.
1 reply 5 retweets 65 likesShow this thread -
55. In investing, as in life in general, do not be afraid to weaponize any (legal) advantage the world has granted you. The world will certainly not be afraid to weaponize your disadvantages against you.
1 reply 14 retweets 132 likesShow this thread -
56. Capital allocation is just as much about anticipating and influencing the sequence of events as it is about allocating capital. What’s optimal in one scenario isn’t in another. There’s more to it than choosing between dividends and stock buybacks.
2 replies 5 retweets 64 likesShow this thread -
57. It’s easy to conform your capital allocation decisions to the opportunities presented to you. It’s harder to make the opportunities presented to you conform to your ideal capital allocation policy. But it is possible. Companies that learn how can create fortunes.
1 reply 2 retweets 45 likesShow this thread -
This Tweet is unavailable.
Haha, thanks HN! 
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.