The FTC and DOJ docket on serial acquisitions/roll-up strategies is pretty funny. Unsurprisingly, the first comment is about $IRM. Second comment is single family homes. Going to be fun to track.
regulations.gov/docket/FTC-202…

Some people get to fool themselves into thinking they can be the next Buffett.

Literally no one has fooled themselves into thinking they’re the next Simons.

What’s the most interesting business you’ve found embedded inside a financial company?

Extra credit if poorly understood but nicely profitable.

For example mineral management at $FFIN, special needs trusts at $OBT or servicing right loans at $MBIN.

This is a very good list on the characteristics of an outstanding analysts / PMs:

This is actually under researched phenomenon where once in a while there is a company whose alumni succeed in building numerous high performing businesses

Compiled a list of US-based companies with >$1bn market cap that have decentralized management structures

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Ah, there’s your CROX bull case.

“Good investors invest in people, not historical performance. They know how to identify traits that will lead to excellent performance in the future, and they know the traits that are indicative of average trading ability. This is the best way to overcome random effects.”

One tip for researching a company's products - find out their warranty policies compared to the competition. Often tells you a lot about the quality of and confidence in the product.

“The difference [in ROIC] between leading and lagging companies in the same industry is typically far greater than the variation across industries.”

🤔

Had a call with these guys today. Very smart way to find hidden treasures using AI. The Great News is it won‘t replace us - it gives us the opportunity to save time in the idea generation part so we can focus even more on the fun part - diving into the companies.

One thing I see analysts get wrong, is to properly distinguish between what is interesting and what is useful. Many more things are interesting than useful.

'One reason the markets are now and never will be efficient is that the search for alpha is not like an Easter egg hunt, where the number of eggs is finite, and the hunt is over when the last hidden egg is found. In financial markets, alpha is continuously being seized by the

We're experimenting with a new way for fundamental investors to assign SixAI idea gen projects.

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who are some 'no b.s.' management teams?

i.e. plainspoken and forthright

What are companies with an embedded growing SaaS business that are not traditionally known as a software company?

It took me 3 months to put 10 years of research on curiosity into a 20min presentation...

...So when Graham Duncan challenged me to compress it down to 5min for the Sohn Conference Foundation yesterday, I obviously went insane.

Here it is.

To generate ideas squarely in your strike zone, Krishnan Chandra has added filters for [Market Cap], [Industry], and [Valuation].

We're reaching a critical point where our machines can automate the entire idea gen process for the first time. More to come 🫡