Selected Tweets

It's time for some tweets.

If you want to share any tweets with me please send me email or dm on twitter.

Thanks for reading.

"The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell." William J. Bernstein

"It's human nature to find patterns where there are none and to find skill where luck is a more likely explanation (particularly if you're the lucky manager)." William J. Bernstein

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$NFLX Netflix Thread

Two fun facts to start this one:

1) Netflix is planning to spend $15 billion on content in 2019.

2) The company added 4x the number of international subscribers than in the US.

2018
International additions: 22.94 million
US addition: 5.68 million https://t.co/b2PNGrnZ0W

— Ryan Reeves (@investing_city) October 12, 2019

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Thread on $BRK.B Berkshire Hathaway

Because I view this investment a bit like a marriage. There are flaws but over the long run I think the benefits outweigh the costs. V, MA, and COST misses annoy me a lot. MSFT and GOOG less so.

The OXY debt was a good deal. He claimed he was negotiating with a big fish in Dec.

— Bill Brewster (@BillBrewsterSCG) October 12, 2019

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I liked this videos from Shopify CEO Tobi Lutke $SHOP

I sometimes do company internal ask-me-anything on Fridays. Let’s do it on Twitter today! Happy to talk about tech, ecommerce, company building, programming, hats. Send questions via hashtag #asktobi

— Tobi Lutke 🌳🌲 (@tobi) October 11, 2019

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$LII Lennox International Thread

1/n $lii is a bet on global warming. Hotter summers = higher sales numbers. pic.twitter.com/WqILjDBHUq

— Pythia Cap(ital) (@PythiaR) October 9, 2019

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$PD PagerDuty Competitive Position Thread

PagerDuty $PD Day 2: Marketing & Competitive Analysis (1.5 hrs)

As a second step, I want to learn about how the company is competitively positioned in the market.

Let's look at how it's priced, how it's reviewed by customers, and how large its addressable market could be.

1/10 https://t.co/yzH7TqK1iO

— Simon Erickson (@TMFInnovator) October 10, 2019

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$ADYEY Adyen Long Thesis on VIC

Ayden VIC Long Thesishttps://t.co/u44uC93wMf

— Jerry Capital (@JerryCap) October 10, 2019

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$PYPL PayPal Thread

$PYPL is quietly cutting product development costs pic.twitter.com/8NSUlreVrd

— CT Capital (@CrowdedTradeCap) October 10, 2019

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$CHYHY Chr. Hansen Holding Thread

$CHR DC F4Q results: "3% organic growth in Cultures & Enzymes (70% of group EBIT) compares with consensus of 5%, and is the weakest result in the company's reporting history since IPO" https://t.co/dkBjn5pBGK pic.twitter.com/zT7DS9aEqw

— WTCM (@WTCM3) October 10, 2019

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Books by topic. Great list.

I often ask for book/paper recommendations. In the hopes of getting a conversation started & finding new books, I’ll share some of my investing related favorites by topic (that I haven’t seen recommended much)...

— eric boroian (@eboroian) October 11, 2019

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First Footage of NYSE (1938)

• First Footage of NYSE •

New York Stock Exchange

(1938)

Remarkable.

Think of every investor, broker, and transaction that has passed through this lasting monument to finance. This building has seen it all.

So many stories.

Videos like this provide perspective. pic.twitter.com/vocT4rExgS

— Jamie Catherwood (@jfc_3_) October 10, 2019

Selected Tweets

It's time for some tweets.

If you want to share any tweets with me please send me email or dm on twitter.

Thanks for reading.

"The only real difference between one organization and another is the performance of its people." Peter Drucker

"The purpose of information is not knowledge. It is being able to take the right action." Peter Drucker

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$AMZN Amazon Business Breakdown

Amazon it is.

The company is infamous for "losing money."

But did you know that it has been operating cash flow positive since 2002?

[THREAD] https://t.co/b2PNGrnZ0W

— Ryan Reeves (@investing_city) October 7, 2019

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Plenty of ideas in this thread

Name a company that is a lock to be far larger and more profitable in 10 years. At a 30% discount to the current price, you would put half your net worth in it, the stock market would close, and you'd go to the beach for 10 years. Aside from Berkshire. Bonus points for <$10 b cap

— Long Hill Road Cap (@LongHillRoadCap) October 4, 2019

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$IPGP Thread

Sanguine on the commoditization risk as competitors move up the power curve? Great business btw, I like it but that is something that concerns me over the LT. I try to think about impacts of lower pricing in terms of margins & larger TAM...

— MALUNACap (@maluna_cap) October 4, 2019

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$SABR Cabre Corp Thread

$SABR CEO Sean Menke (May 2019): "what you're finding is essentially is ourselves and $AMS, who is the other large GDS, continue to grow share... the third player, Travelport, has continued to shrink share really over the last 3, 4, 5 years" pic.twitter.com/rpX6QzfxUU

— WTCM (@WTCM3) October 7, 2019

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Tax Rate by Income Group #inequality

Tax Rate by Income Group #inequality

(@dleonhardt)pic.twitter.com/P5jCiyI9ZW

— Plan Maestro (@PlanMaestro) October 7, 2019

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Paper - Measuring the Moat by Michael J. Mauboussin. Thanks Tren

25iQ Terms of the Day: "Profit pool: the distribution of an industry’s value creation at a point in time. The horizontal axis measures size, typically invested capital or sales as a percentage of the industry, and the vertical axis measures profitability."https://t.co/ifMHQtDgKb pic.twitter.com/VvFfNHGLRv

— Tren Griffin (@trengriffin) October 6, 2019

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Chartstravaganza!!!

Here’s Chartstravaganza … bringing expert charts

(@martinshovel) pic.twitter.com/SGcfXJNZZy

— Plan Maestro (@PlanMaestro) October 6, 2019

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$PGENY Pigeon Corp Thread

Pigeon Corp $7956 JT T5y stats https://t.co/jHA1d5N9A1 pic.twitter.com/u9houRPlwQ

— WTCM (@WTCM3) October 6, 2019

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Thread on $PYPL Leaving Libra $FB

1/ Good thread @BluegrassCap, but I disagree and think that $PYPL leaving is a blow to Libra, and deal would benefit both $FB and $PYPL. I think this boils down to whether Libra is properly seen as an alternative currency, an entire new way of making payments, or both ... (cont) https://t.co/Lbu0joCpKg

— Matthew Cochrane (@FoolMCochrane) October 5, 2019

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$CLX Thread

$CLX 2019 Analyst Day presentation https://t.co/haVQ18LlK9 pic.twitter.com/wdXS0xHmfw

— WTCM (@WTCM3) October 3, 2019

Selected Tweets

It's time for some tweets.

If you want to share any tweets with me please send me email or dm on twitter.

Thanks for reading.

"The successful investor is usually an individual who is inherently interested in business problems." Philip Arthur Fisher

"Real investors should never feel bearish because the time to buy value is when markets go down!" Irving Kahn

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Matthew Cochrane Portfolio - Added to $BABA, $GH, $PAYC, $MELI, GPN

End of Nov top holdings:
AMZN 8.2% of portfolio
MA 7.5%
SWKS 7.3%
GOOGL 7.0%
FB 6.8%
PYPL 6.4%
DIS 6.0%
MSFT 5.4%
SQ 3.7%
GPN 3.5%
HD 3.3%
PAYC 3.2%
SHOP 2.6%
VZ 2.5%
HAS 2.3%
JPM 2.2%
EA 2.2%
GLW 2.2%
BABA 2.1%
ADBE 1.9%
MDB 1.8%
MELI 1.8%
AAXN 1.5%
KMI 1.4%
MCO 1.4% https://t.co/Ei0TPwt85t

— Matthew Cochrane (@FoolMCochrane) November 30, 2019

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$SMAR Thread

"And then if you look at our Fortune 100 customers, and we have over 90% of the Fortune 100, their dollar-based net retention rate was 159%." $SMAR pic.twitter.com/pduavSUxE1

— Uncovering Value (@stockthoughts81) October 4, 2019

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Funny - WeWork Parody

THREAD: The rise and fall of WeWork. Told through a series of GIFs from The Office.

Starring Michael Scott as Adam Neumann.

— Ramp Capital (@RampCapitalLLC) October 4, 2019

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What made different working at Stripe Thread

I recently left Stripe after 4.5 formative and magical years. Some reflections on what made working at Stripe feel different than working other places:
1/Turpentine
2/Writing
3/Meticulousness
4/Principled decision-making
5/Ambition
6/Talking up
7/The API metaphor

— Brie Wolfson (@zebriez) October 4, 2019

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Tech stocks to follow

Tech stocks I follow ranked by sales grow % over past 5 years:$SHOP - 85%$TDOC - 84%$TWLO - 67%$ZEN - 53%$NEWR - 50%$GRUB - 49%$APPF - 48%$BL - 48%$FB - 48%$ZG - 46%$HUBS - 46%$TEAM - 41%$PAYC - 39%$CYBR - 49%$PANW - 37%

— Brian Feroldi (@BrianFeroldi) November 30, 2019

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Brian Stoffel Portfolio

My December #SkinInTheGame update.

Pic below shows size-weighted returns ~tripling market

Top 10

1) $AMZN (17% of port)
2) $GOOGL 10%
3) $SHOP 10%
4) $AAXN 8%
5) $MELI 8%
6) Cash 8%
7) $VEEV 6%
8) $MDB 5%
9) $FB 4%
10) $ISRG 4% pic.twitter.com/17u7OlT2FQ

— Brian Stoffel (@TMFStoffel) December 2, 2019

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Great Thread on Quality & Contrarianism

Spend more time on differences in operating model (or business model) and nuanced patterns associated with high returns (example small % of customer costs but mission critical) vs general 'moats', ie spend more time on the actual operating intricacies

— eric boroian (@eboroian) October 4, 2019

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$INTU Thread

Intuit $INTU 2019 Investor Day slides https://t.co/JXvAWt7NRN pic.twitter.com/xQ3yhCYnte

— WTCM (@WTCM3) October 3, 2019

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$COST Busienss Model Thread

1/ This is the key. The company keeps gross margins as low as possible.

We'll cover the second part of the highlighted section a little bit later. pic.twitter.com/wK1FisVeyT

— Ryan Reeves (@investing_city) October 4, 2019

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$MA and $V Thread

Serious question: why does everyone think that $MA & $V moats are so impenetrable. I fully understand why they have been good businesses in the past, but I'm not sure why that should remain the case in the future. Here are some of my concerns:

— Brian McCann (@Bootstrap68) August 9, 2019