All these Dataroma posts.

Imagine making such a good product, used by 3.45B people and the government is just like “Nah, break it up” Absurdity. $GOOGL $GOOGL

ROCE > WACC for years? That’s not luck. That’s durable advantage.

Earnings can lie. Dividends can flatter. But free cash flow is where you see the real economics of a business.

Growth only creates value if returns exceed cost of capital. Reinvest at 20% ROIC (6% WACC)→ wealth compounds. Reinvest at 5% ROIC (6% WACC) → wealth evaporates.

Want to find a moat? Look for: • Consistently high ROIC • Expanding FCF margins • Low reinvestment needs Numbers reveal what stories hide.

High ROIC isn’t impressive once. It’s impressive when it lasts 10+ years. Durability > spikes.

The real differentiator? Not margins. Not revenue growth. It’s the rate at which a business can reinvest at high returns.

A business with 60% gross margins can absorb shocks. A business with 10% gross margins lives on a knife’s edge.

When revenue grows 10% and operating income grows 25% → that’s operating leverage. It’s where scale turns into profit acceleration.

EPS growth without FCF growth = danger. Check if a company is generating actual cash, not just accounting profits.

Debt-to-Equity ratio isn’t just a number. High debt can amplify returns or wipe them out if the business slows. Context matters.

I don’t know who needs to hear this, but… Just because Berkshire added UnitedHealth Group to its portfolio doesn’t make it a buy. $UNH

Low P/E small-caps with a “strong buy” rating from 5+ analysts. 👇🏻 1. ePlus $PLUS 2. H2O America $HTO 3. DXP Enterprises $DXPE 4. Seadrill Limited $SDRL 5. Strategic Education $STRA 6. Blue Bird Corporation $BLBD 7. CSG Systems International $CSGS 8. Power Solutions

This blows my mind. One is a cloud leader and online retail giant, the other sells sodas. Sodas outperformed year to date. 👀 $KO $AMZN

Absolute monster of a company with ~70% of its revenue being recurring revenue. Creeping closer and closer to an interesting price range. Are you getting interested in Constellation? 👀 $CSU $CNSWF

Uber 🤝🏻 Adyen $UBER $ADYEN $ADYEY

Surely PepsiCo is interesting for dividend growth investors right now? $PEP

Mag7 YTD returns Awful year for Apple and Tesla investors. Microsoft, Meta, and NVIDIA shareholders are holding the bag. $TSLA $MFST $GOOGL $AAPL $AMZN $NVDA $META

“Know what you own, and know why you own it.”