RBN Raises £730k, Cuts Debt; Low Cap, Illiquid
#RBN selling a property and getting £730,000 to help lower debt. ShareScope has fwd p/e 10.2 falling to 8.2 and fwd Divvy 4.8% each of next 2 years. It's low Mkt Cap at £21m and illiquid. I don't hold.
Vodafone Buys Remaining 49% For
#VOD paying CK Hutchison £4.3bn to acquire the 49% of VodafoneThree it didn't already own, and to now have 100% ownership. Will increase debt by 0.4 times Net Debt to Adjusted Earnings.
Memory Stocks May Finally Merit 20× PE Valuation
What if this time is really different for „cyclical“ memory stocks? What if SK Hynix should trade at a PE of 20x I mean, how arrogant would anyone have to be to seriously claim that this time is no different at all?...
Philippines Stock Market Valued at P/E 9.0×.
For what it’s worth, the Philippines now trades at P/E 9.0x. Not the same market, but still. https://t.co/NDgDdajSTi
First Solar Faces Downside Risk From Valuation, Competition, Policy
Just read that First Solar still carries serious downside risk, per @SeekingAlpha. High valuation, competition, and policy jitters could weigh on the stock 📉. Good reminder to stay sharp on solar plays. SolarEnergy
History Repeats: Overpay, Panic‑Sell, Mistake Speculation
Graham said those who forget market history are condemned to repeat it. Here's what gets repeated most: 1️⃣ Overpaying for growth because "this one's different" 2️⃣ Selling quality businesses during panic because price ≠ value 3️⃣ Calling speculation "investing" because everyone else is...
HSBC Q1 Profit Misses Forecasts Amid Rising Credit Losses
JUST IN: HSBC's first-quarter pre-tax profit was below estimates due to higher expected credit losses.
Grab Posts 19% Revenue Rise, Margin Expansion
$GRAB: Profitable growth keeps compounding — Q1 revenue +19%, operating margin +550 bps, net margin +1,540 bps Grab delivered strong quarter. Revenue grew 18.6% YoY to $906M, with gross profit up 19.6% and gross margin expanding to 44%. SG&A fell to 23%...
Research‑Driven Luck Beats Hype in Multi‑Bagger Investing
In investing, good luck is maximized and multiplied through a good research process that puts you in a high probability MultiBagger hunting ground. For example, you’ll be more lucky by owning a high quality infrastructure or industrial stock that naturally evolves...
Investing Habits Are More Genetic than Learned
In 2014 a researcher an interesting study that looked at whether your investing habits were genetic or learned. In Sweden they’re obsessed with twins and money. They have a national database where they track all the twins born. And they go...
Value Investing Prioritizes Today's Tangible Assets Over Future Stories
Most investors buy stocks because of a story — a narrative about why the business should be worth more than it is today. The platform is growing. The market is expanding. The product is sticky, the customer base is loyal, and...
Palantir Sets Record with 150% Net Dollar Retention
Palantir is the largest company ever to reach a Net Dollar Retention Rate of 150% $PLTR https://t.co/eqiODEaQ7H
Negative ERP Signals Stock Risk, Current Levels Near Normal
The current ERP isn’t necessarily worrisome for forward equity returns. It’s roughly on par with the pre-2000 norm, which accompanied an annualized 14.8% rise in the S&P 500. The long-term average rolling annual gain is 8.1%. Greater risk to stocks emerges if the ERP slips to the fourth quartile of historical observations – where stocks historically struggled with below-average forward returns. Prospects for this may depend mostly...
Low P/E, High Debt = Value Trap
A low P/E on a debt-laden business isn't value. It's a trap with a discount sticker on it. Defensive valuation means: cheap price, clean balance sheet, real cash flows. Remove any one leg and the stool falls.
PLTR's Explosive Growth Justifies Premium Valuation
Hard to love the $PLTR valuation/multiple. Hard not to love the $PLTR fundamentals. Q1 results: +85% YoY revenue growth +16% QoQ revenue growth +104% YoY US growth +133% YoY US commercial growth +84% YoY US government growth 60% operating margins Q2 guidance: $1.8B revenues... implies +80% YoY growth FY2026 guidance: $7.656B revenues......
Critical Rate Threshold Threatening Big‑Cap Tech Stocks
At what level would long term interest rates need to be to negatively impact big cap tech stocks? $NDX
HITI High Tide: Discount Retailer, Not Grower
Day 18 of 30: How $HITI High Tide actually makes money Most people think this is just another Canadian cannabis grower It is not. They do not grow a single plant. It is a Costco-style discount retailer with a paid loyalty program. Cannabis...
Clarifying Critique: Interview Lacked Balance, Not Personal Attack
I didnt make fun of Brad Gerstner. Nor was I disrespectful. He is a great investor. What I wrote is that neither the moderator of the show nor Brad made any negative comments. The interview lacked balance and was, not surprisingly one-sided. My tweet pointed...
Earnings Estimates Surge Like Hockey Stick, Defy Bearish Outlook
Earnings estimates are rising in a "hockey stick like fashion" says @WarrenPies 🏒 "Unprecedented" for this to happen NOT coming out of bear market or recession. "I don't think this is bearish." Apple🔊https://t.co/xWZxRXyizG Spotify📽️https://t.co/vMYx7dErw4 https://t.co/rKJCVksIK1
Substack Launches Reveal Graduate‑level Market Psychology
If you overlay Amit's substack launch on $HOOD shares and Burry's on $IGV you'll get a rare look at graduate level market psychology https://t.co/jRLeRvKPvA
Sofi's Strong Earnings, 16% Drop Reveal Massive Undervaluation
$SOFI just reported a stellar earnings report, yet the market went mad, and the stock fell 16%. So I created a new 2030 Valuation Model. 👇 In this report, I expand on why I have made Sofi one of my largest holdings...
Adaptability Beats Rigid Conviction in Market Success
Conviction Without Adaptation Fails as Markets Reward Process Over Permanence Perma bull 🤝 Perma bear Same mistake: ❌ Never change 📈 Market makes new highs 📉 They stay stuck Edge = 🔁 Adapt when signals change Conviction without flexibility = expensive opinion https://t.co/GVtJnjKWzk
Seeking 100‑Baggers, Berkshire Halo, Walk‑and‑Talk Meetings
🆓 Monday links: the hunt for 100-baggers, Berkshire as HALO, and in praise of walk-and-talk work meetings. https://t.co/TlGNbORvDE image: https://t.co/bqv2egbuwD https://t.co/dwX2ymZU0d
AI Capex Surge Boosts AVGO Buy Outlook
Macro: Big-Tech AI capex rising. Key: Google & Meta beats signal sustained TPU/MTIA demand; Google flags higher 2027 CapEx. Risk: execution/valuation. Trade: Buy AVGO on 2027 AI visibility. — Viktor Kopylov, PhD, CFA. More insights: t.me/si14Kopylov
Meme Stock Guru Scolds Buffett, Misses Value Investing Basics
This is what the market has come to... in what can only be described as a large dose of hubris: $JOET is lecturing Warren Buffett about having too much cash. He recommends that he put a portion of...
SanDisk Beats Q3 Forecast, Yet Overbought—Consider Dip
SanDisk’s Q3 crushed estimates, but the stock looks overbought and volatile now. Long-term play? Essential for the AI data cycle. Maybe wait for a dip. 📉⚡ Semiconductors
GameStop's $55.5B eBay Bid Dilutes Shareholders
GameStop just offered $55.5 billion for eBay $GME down 9%. $EBAY up 6%. The market is saying: "eBay shareholders got a great deal. GameStop shareholders got robbed." Here's why: $GME is paying $125 per share - 46% premium - half in cash, half in...
Avoid False Precision: Trust Margin of Safety Over Hope
Buffett bought $1B of Coke without a spreadsheet model. Not because he was lazy. Because false precision is its own form of risk. If you need 3 decimal places to feel confident, that's not margin of safety. That's a margin of hope.
Berkshire Hathaway: The Ultimate Anti‑AI Stock
Berkshire Hathaway, the ultimate anti-AI stock: -easy source of funds to be OW Mag 7 AI plays -top holding is $AAPL (no AI capex) -For S&P 100, $BRK most negatively correlated w $AMD & $ORCL -v negatively correlated w momo https://t.co/GMsxX2Xqf1 https://t.co/BvCXEsP6yu
Cerebras Complements Nvidia, Boosting Compute Capacity
$CBRS is not an ‘instead of $NVDA story’ it is an in addition to story. With strong inference economics, Cerebras is poised to do well and will provide much needed additional capacity Remember, we still need all the compute we...
BASF’s Q1 Investment Spike Reveals €124M AgBiTech Purchase
A look at the AgBiTech Acquisition by @BASF. In Q1 2026 BASF announced the acquisition of AgBiTech. One thing to note from their report is the “Investments” line. The AgBiTech acquisition was finalized in Q1 and investments were up ~€120 million...
Pzena Bets on Cheap China, Brazil Amid Chaos
Pzena’s Q1 2026 EM Value commentary is out. They’re digging into deep value plays in emerging markets, with a contrarian take on cheap Chinese and Brazilian stocks. Always interesting when a value shop leans into the chaos. EmergingMarkets
BKNG’s Capital Discipline Delivers Massive Share Buybacks
It is rare to see a management team consistently allocate capital as effectively as $BKNG Over the last 12 years, they have reduced their share count by over 40% at an average price of $93 per share. In Q1 2026 alone,...
S&P 500 up 12% yet 6% Cheaper This Year
Despite it's +12% gain, the S&P 500 has gotten 6% cheaper this year. via Duality Research
Invest in Price, Not Just Great Stocks
Ben Graham didn't teach people to find great stocks. He taught them to find great prices. There's a difference, and most investors never learn it.
IBIT's Strong April Flows Defy Negative YTD Trend
$IBIT coming in at #11 in April flows with $2.3b, baller number considering it's only ETF on list with negative YTD return. Typically only see that with Vanguard ETFs (their invs buy rain or shine). Good sign for long-term viability...
BofA's SPX EPS Revisions 2026‑27 Shock the Market
Incredible SPX EPS revisions for 2026 and 27... really is one for the books BofA https://t.co/Gkg3akKVJP
Tech Earnings Growth Hits 17% YoY, Highest Since 2021
BofA: Using adjusted values for Alphabet, Meta, and Amazon, we estimate underlying growth is tracking closer to 17% YoY, still the highest since 2021, and a 5% beat vs. consensus on April 1. It’s not just mega caps: median EPS growth...
Overweighting Current Conditions Leads to Market Mispricing
Investing Quote of the Day: “One of the most powerful sources of mispricing is the tendency to over-weight or over-emphasize current conditions.” - Bill Miller (@B3_MillerValue) https://t.co/y5DMs8bj24
S&P EPS Growth Forecast Cracks Amid Narrowing Leaders
Coming up on @thestreetpro The 2026-7 S&P EPS Growth Argument Has Many Holes In It * Especially in a continued narrowing of leadership (in profits and price appreciation) in a "K-shaped" S&P Index... * With interest rates, inflation and the price of crude...
Stock Returns Mirror Underlying Business's Capital Earnings
"Over the long term, it's hard for a stock to earn a much better return than the business underlying it earns. If the business earns 6% on capital... you're not going to make much more than 6%." — Charlie Munger....
Trump Tariffs Threaten German Car Earnings, Double‑digit Drops
Good Morning from Germany, where car stocks are under pressure after Donald Trump vowed to impose a 25% tariff on European autos, escalating the trade dispute. A renewed tariff push would weigh on earnings across the sector. Bernstein expects headwinds...
Profit Plunge, yet Huge Dividend Shows Priorities
The company behind your morning TEH TARIK at Pak Man just reported a 33% profit drop — and still declared RM110 million in dividends the same day. That sequence tells you who’s protected first.
Asia Now Holds Six of World's Top Ten Stock Markets
The Asia Century 20 years ago, just 2 of the world's 10-largest stock markets came from Asia. Today, 6 out of the top 10 are from the region. China's equity market, which didn't make the top 10 list in 2006, is about...
AVI Polymers: Debt‑Free, Promoter‑Led, Gaining Packaging Clients
AVI Polymers isn’t flashy. But 3 things caught my eye in the AR: 1993: Started as a trading firm in Ahmedabad. 2026: Into industrial polymers, solvents, specialty chemicals. 1. Zero long-term debt 2. Promoter holding >70% 3. New clients in packaging sector Risks: Thin margins, client...
NAB H1 Profit Rises, Revenue Miss Fuels Trim
NAB 1H26: underlying profit +6.4% but revenue missed; statutory profit hit by software amortisation; CET1 11.65% (pro‑forma 12.05%). Risks: margin pressure, investor scepticism. Trade: trim NAB on earnings gap. 📉 — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
2025: 79% Large‑Cap Funds Lag S&P
There is no Warren Buffett to replace Warren Buffett at BRK. In 2025, 79% of all active large-cap U.S. equity funds underperformed the S&P 500, worse than the 65% rate observed in 2024 and the fourth-worst year for active large-cap managers...
Index Funds Act as Momentum, Ignoring Quality, Distorting Markets
Terry Smith on how index fund investing is not passive investing but rather a momentum strategy "The increasing proportion of equities held by index funds are invested without any regard to the quality or valuation of the shares bought, which produces...
Dividends Reveal True Earnings, Not Passive Income
Dividends feel passive. The math underneath them isn't. A company paying out more than it earns isn't sharing profits — it's liquidating itself. Dividend coverage isn't accounting. It's a stress test for real earning power.
Anchorage DWP Combines True Ownership with Institutional Protection
Cold wallets predate ETFs by years. Most self custody holders got in before January 2024 and never switched. The logic is the same as gold bugs avoiding paper contracts. Hold the real thing. But physical stock certificates went away for...