1/ Aoris Investment Management released its 2023 annual letter and it's a must read for any LT investor. Echoes some of my thoughts across several topics. Sold: $NKE $GGG Bought: $RELX $ATCO.B Brief thread 👇

John Griffin, ex right-hand man to Julian Robertson and founder of the now-closed Blue Ridge Capital, taught several classes at UVa and Columbia: The Analyst’s Edge, The Investor’s Edge, Seminar in Advanced Investment Research, and Securities Analysis and Idea Generation.

The Tokyo Stock Exchange released a 66-page Case Study PDF on How To Create Value For Shareholders. There are examples from 28 companies in myriad industries. This is a MUST READ if you're interested in JPY stocks. Things are changing in Japan 👇 jpx.co.jp/english/news/1…

당시 마크 스티븐스는 세콰이어 입사 3년차로 엔비디아의 투자 실패는 커리어 목숨이 달린 일이었다. 젠슨황이 수년동안 말해왔던 것 중 하나가 “우리는 폐업 30일전” 이었는데 실제로 단 한번의 기회 밖에 남지 않았다. 보통 칩하나에 최소 1년반이 걸리지만, 엔비디아는 8개월이 한계였고 그 다음은

The best business models according to Morgan Stanley:

In 1986 Berkshire ran an ad in the Wall Street Journal as a way to find businesses to buy.