6. Consolidated financials are BS when looking at a company’s leverage. Companies are legally distinct entities and this can result in situations where debt is held at a subsidiary that has no claim on a parent co’s other assets. Important to see which companies guarantee what.
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7. Henry Singleton built and dissembled Teledyne so profitably by using the dark arts. Soros gets credit for reflexivity but Singleton understood it intuitively AND knew how to manage narrative to bend it to his own will. Look at how trouble at Argonaut influenced his buybacks.
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8. Jeff Bezos is the John Malone of operating expenses.
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9. Good and underappreciated sources of information are PACER and state regulatory filings. Discovered
$CAOX corporate existence was supposed to be terminated decades ago and the company never got around to updating its Articles of Incorporation.2 replies 4 retweets 111 likesShow this thread -
10. Humans are on the brink of achieving functional immortality and time is about to become much less valuable. Interest rates are already reflecting this.
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11. Using history beyond the past twenty years as your understanding of the limits of what sort of corporate growth rates are possible is like using a dowsing rod to start your own water utility. The world really is different now and what didn’t used to be possible now is.
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12. The
$TSLA and$TSLAQ communities are both rational responses to a situation that is almost nothing but high stakes reflexivity. The two forces are in a game of tug-o-war to shape Tesla’s intrinsic value by influencing its stock price. Lots to learn from watching their duel.2 replies 16 retweets 184 likesShow this thread -
13. Value investing and growth/momentum investing both work and it’s important to respect and try to integrate the best ideas from each investing style into your own. Don’t be a cultist to one style. You’re only harming yourself and your family by drinking the Kool-Aid.
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14. Financial statements are usually the outputs of a company’s value drivers, not the value drivers themselves. Learning adjacent skill sets, such as direct response marketing, can open up opportunities to you that others can’t yet see. I recommend Tested Advertising Methods.
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Replying to @LAForeverHall
Exhibit A: my 134 replies to some random dude who also responded to ur tweet from tonite. Now I’m reading ur well placed and well organized tweet storm.
1 reply 0 retweets 2 likes
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