Despite 2023’s strong market performance, 2024 has presented compelling opportunities to acquire high-quality businesses at attractive valuations. As we’ve seen repeatedly, investor time horizons compress to zero during drawdowns, and "hopium" stretches to infinity during bull cycles. This phenomenon captures how investors often lose sight of the bigger picture in turbulent times while becoming overly optimistic in bull markets. This recurring behavioral bias creates opportunities for...
4 months ago • 1 min read
Hey Reader - Thomas here. Good day to my fellow compounders! In 3-Bullet Sunday, I share with you the three most interesting pieces of articles, videos, or podcasts I came across for the week on investing and growth philosophies. Enjoy! Bought Stocks Recently? If you've snagged some great businesses during this drawdown, a reminder that the big money is made in the waiting. Which also means you have to structure your finances, and portfolio to survive both the financial and emotional...
4 months ago • 5 min read
Hey Reader - Thomas here. Good day to my fellow compounders! In 3-Bullet Sunday, I share with you the three most interesting piece of article, video or podcast I came across for the week on investing and growth philosophies. Enjoy! I. What Investors Get Wrong: Chris Mayer on Dividends, Noise, and the Power of Reinvestment A long-term winner has a few engines for compounding value:1. Long growth runway2. Shares buyback3. Multiple expansionIt's usually a combination of the two that boosts the...
4 months ago • 2 min read
Hey Reader - Thomas here. Good day to my fellow compounders! In 3-Bullet Sunday, I share with you the three most interesting piece of article, video or podcast I came across for the week on investing and growth philosophies. Enjoy! Bought Stocks Recently? If you've snagged some great businesses during this drawdown, a reminder that the big money is made in the waiting. Which also means you have to structure your finances, and portfolio to survive both the financial and emotional turbulence...
5 months ago • 2 min read
This week’s report for Steady Compounding Insider Stocks members dives into an update on Paycom. Since my initial deep-dive in July 2024, the stock has climbed 58%. In this report, I analyze Paycom's latest third-quarter earnings, discuss whether the company is turning a corner, and share my updated views on its valuation after the recent run-up in share price. Below, you’ll find a free preview of my Paycom research. To unlock the full report and gain exclusive access to all my stock...
5 months ago • 6 min read
Is it too late to buy Tesla? Will Big Tech thrive under Trump’s policies? How will tariffs impact the global supply chain? Hold up Reader. Breathe. I get it. You are constantly bombarded with headlines and “expert analysis” on CNBC about Trump’s potential impact on the market, and it is overwhelming. But here’s the truth: these forecasts rarely come true. You might as well flip a coin. Remember when everyone said aggressive rate hikes from the Fed would tip us into a recession? Instead, the...
5 months ago • 2 min read
I’m pretty happy with the companies in my portfolio right now; most are hitting their stride, and the strong business performance is reflected in rising stock prices. Over the long run, stock prices will always track business fundamentals—this is as true as the law of gravity. And there are predominantly two forces driving stock prices: earnings per share (or free cash flow per share, if you prefer that metric) and multiples. Multiples are a bit trickier—they’re shaped by fundamentals but...
6 months ago • 1 min read
Hey Reader - Thomas here. Good day to my fellow compounders! In 3-Bullet Sunday, I share with you the three most interesting piece of article, video or podcast I came across for the week on investing and growth philosophies. Enjoy! I. Pershing Square interim report Many investors are excited about Ackman's recent investment in Nike (and Brookfield). But I thought it's worth pointing out that they're each around one-quarter of Pershing Square's usual full position at around $200m+. A full...
8 months ago • 2 min read
This week’s report for Steady Compounding Insider Stocks members features an in-depth analysis of Airbnb. The company has emerged from the pandemic as one of the most profitable tech companies. However, recent disappointing forward guidance sent the stock down 14% post-earnings. In this report, I explore whether investors should own a piece of Airbnb, given its challenges and current valuations. Below, you'll find snippets from my Airbnb research report. To unlock the complete report and gain...
8 months ago • 5 min read
