Jack Bogle said it best. Investment return is the compounding of earnings and cash flows. Speculative return is the change in valuation multiple.

Meta is pulling all the punches with this really fancy 3D animated billboard! Will PICO XR and HTC VIVE do something similar? This is next level stuff

I put together the "Compounder Checklist" as a guideline for my investments. A compounder is a high-quality durable company that's profitable through every part of the economic cycle and difficult to disrupt. Let me go through the research for each point.

I'm reading a book a week in 2023. Classics, sci-fi, nonfiction, or anything people highly recommend. I'll keep adjusting the list. Start on Monday, done by Sunday. Might make lowkey videos of takeaways. If you want to read along, the current list is here: lexfridman.com/reading-list

In this thread, we have curated 9 key quotes from $AMZN's recent earnings call🧵 It covers topics like consumer spending, AWS, cost savings, and more. 1. Consumer spending trends:

11 Incredible Lessons from The Book The Alchemist:

“Whenever I’m about to do something, I think ‘Would an idiot do that?’ and if they would, I do not do that thing.” x.com/darrenrovell/s…

Loved this conversation with Todd Combs of Berkshire. Three ideas stood out to me: 1) Great investors are weird and love the process 2) We are all wet cement. 3) To compete, you need to love the game. To decide whether to compete, you have to deeply know yourself and your own

Warren Buffett Leaves The Audience Speechless One of his most inspiring speeches:

This is exactly why I love Terry Smith’s vision, and why I made a blog about his fav subjects: - Return on Capital Employed (ROCE) - Why ROCE > EPS - Retaining Earnings - Why stocks are unique - When (not) to sell open.substack.com/pub/mindfulcom… $HIMS $DNP.WA $KNSL $TEQ.ST $TOI.V $KPG

Working hard on my $IBKR deep dive 🇺🇸 awesome high-quality company which you’ll only notice once you delve deeper into it! Can’t wait to share my findings with you all. - 71% operating margins - Owner-operator - Multiple competitive advantages - Room to grow … :)

I made my first deep dive! It's an extended analysis of Interactive Brokers, $IBKR 🇺🇸It's a must-have for your watchlist (or portfolio). Why? - Owner-operator with skin in the game - Great competitive advantage - Lots of growth left - And more.. Enjoy! :) open.substack.com/pub/mindfulcom…

Buffett’s basic principles written about in The Warren Buffett Way by Hagstrom. Quality!

Hey everyone! I wrote a blog on the key (16!) lessons from ALL the annual letters of François Rochon. I took me quite a while, and it's extensive. Hopefully you'll learn a lot! Rochon loves quality with $KNSL, $ABNB, $META, $MKL, $LULU and $NOVO. Enjoy! open.substack.com/pub/mindfulcom…

$IBKR Q2 ER look very solid. I’m (still) long IBKR! - Accounts grew 28% (!) to 2.92 mln - DARTs grew 28% - Margins grew again (72% pretax profit margin) - Huge cashposition of $15.2 bln Awesome! If this makes you interested in the company, check out my deep dive on IBKR! 👇

I just posted a new blog called "What I Learned from Every Annual Letter of Terry Smith". It took me quite a while, but there's a lot of awesome wisdoms on quality investing in there. Hopefully, you'll learn something new! :) open.substack.com/pub/mindfulcom…

Hi everyone! I’m excited to share my deep dive on Dino Polska - $DNP.WA. I know it's not the first deep dive ever of the company. However, I hope you’ll learn something new about their challenges, future growth, valuation, and more. Enjoy! :) open.substack.com/pub/mindfulcom…