Category Archives: What we read

Some links

Why Theranos was “special” among startups (or maybe not ?)

An interesting review of Michael Milken’s career as the “Junk Bond King”

Some insights into Salesforce’s unique “borderline” culture

Good article on the new Covid “wonder drug” Molnupiravir from Merck 

ValueX Vail conference presentations 

The Music business seems to be back (IPO Universal Music)

Net Interest (Marc Rubinsteins) with a look back to the 2006 ICBC IPO and the Chinese Financial system

 

Some links

When Daniel Ek, founder of Spotify sits down to talk, it is always worth listening

A cautious look at potential negative effects of “Buy now, pay later” offerings

Interesting deep dive into “the mind of Perma-bear Marc Faber”

Some interesting thoughts from Micheal Pettis how China will manage the Evergrande problem and a deep dive into Evergrande’s “accounting”

GlobalStockPicking with a portfolio update 

Guru Copycat investing doesn’t to work so well

Bill Ackman scored big with the IPO of Universal Music

Plus an old song to start the week in a happy mood: Beach Boys – Big Sur

Some links

Must read: Thoughts on investing (and life) from “The undercover Fund Manager”

Some thoughts on who might be paying the bill for Evergrande’s default and the impact on the Chinese Financial System

Is Facebook the “cigarette industry” of the digital age

Prof. Damodaran is no big fan of ESG Investing 

Good write up on SEA Ltd., South East Asia’s leading internet company

FrenchHiddenChampions has a nice series on Gerard Perrier (and other good stuff)

Interesting insights into the Business model of O’Reilly Automotive

Some links

HBR (and Bain) on why Founder led companies perform better

An interesting deep dive into the Market Panic of 1792

Very comprehensive overview how the Venture Capital landscape has changed over the past few years

Good profile of ETF tech guru Cathy Wood (ARK)

The Lightning network, Bitcoins answer to scaling issues, still doesn’t work

AQR thinks that shorting (high emission) stocks should decrease a portfolio’s carbon footprint

Microsoft did a big study on remote working on its own work force. The results are not positive.

Summer Reading summary

Over (spring and) summer, I managed to read a couple of books that might be interesting for my readers. This time a try a new format with a shorter summary on a couple of books compared to the more detailed single reviews I did in the past. I hope this is helpful nevertheless.

  1. The Rise of Carry

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“The Rise of Carry” is a more macro oriented book written by two former Hedge Fund “dudes”. Their thesis is that a significant part of today’s market activity is driven by “Carry Trades”, which are defined as leveraged bets with an asymetric return profile (“fat tails” on the downside). It is a very interesting approach to look at markets. The book was written well before Bill Hwang’s Archegos Capital collapsed due to …leveraged bets.

Read more

Some links

Great deep dive from Mathew Ball on Netflix and Gaming

An interesting look at “alternative performance measures” that are used by Tech companies

Highly recommended: AMA with Vitalek Buterin on Twitter (only people he follows could ask, first question from Elon Musk)

Thanks to Elon Musk, in theory “Space Base load Solar” could become a thing

6M reports from TGV Intrinsic ( Frontier Digital Ventures, VEF) and TGV Compound Interest (Amaysim, EQS, FEMSA)

A pretty cautious take on Chinese stocks

Spotify needs to take social streaming (and TikTok) very seriously

 

Some Links

A good reminder that the “cash on the sidelines” argument is nonsense

9 very good questions that every investor should ask himself after the recent bull run

Great Profile of iconic VC firm Bessemer Venture Partners

AI company DeepMind has found out how to model the folding of Proteins. This could be big. More here.

David Einhorn’s  Q2 letter. As always, good comments but awful performance.

Nice write up on DNA sequencing pioneer Illumina

For finance nerds: Special report on Credit Suisse’s 5,5 bn Archegos loss (and I learned a new word: lackadaisical)

 

Some Links

Peak SPAC ? A non-revenue healthcare litigation company wants to be valued at 32,6 bn USD.

Half year fund letters:

Fascinating paper on the massive Albanian Ponzi system of 1996-1997

Nice pitch for European stocks vs American stocks

Very interesting deep dive into Roku

And a pitch for Imperial Brands

To make it three: Write-up on Brook Compton 

Some links

A banking stock that los -93% without any (obvious) fraud

Very good post on “playing the losers game” by avoiding “unforced errors” (h/t S4V)

Why keeping cool despite meme stonks and crypto might be a good idea

Investing into Carbon Prices looks almost like a no-brainer

Short write-up on EV charging stock Chargepoint

Great write-up on Total Produce (Merger, De-Listing, Re-Listing)

Good long read on the “Invisible caffeine addiction”

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