#101 Ramblings Nov2023
Last updated: Dec 1, 2023
GDP per Capita
Never Care for What They Say
(link)
(link)
And yet…
On having followers
Don’t get me wrong. It would feel nice to have 10K followers. A sort of validation.
And yet, I think it would be bad. Like optimizing for the wrong objective. Or training the brain to chase the wrong outcome and feed on the wrong kind of dopamine.
Incidentally, I remember now one of the reasons why I sold $AEP.V which was the involvement of this Paul character. I don’t like him (but I appreciate the work his doing in the microcap space).
On hypocrisy
(link)
“It’s the hypocrisy and plain double standard that gets me - especially when my tribe is getting the short end of the stick.”
Fixed it for you mate.
On the existence of moat
Someone commented on $B3.ST as being in a business with no moat.
I was looking at Accenture this morning which trades for 19x EV/EBIT and 4.5% FCF/EV yield. I find this chart interesting and (to a degree) surprising…
I’d argue that a moat can be explained, or it can be observed. Looks to me like Accenture probably has some kinf of moat.
What Doesn’t Work
(tweet)
Crabs in a bucket mentality: “if I can’t have it, neither can you”.
The metaphor is derived from anecdotal claims about the behavior of crabs when they are trapped in a bucket: while any one crab can easily start to climb out, it will nonetheless be pulled back in by the others, ensuring the group’s collective demise.
Hungary to launch a Golden Visa
Through real estate for full Schengen access: link.
Requires a €500k investment in Real Estate.
Best tweet of the year - any year
(link)
The most important quality
Being determined.
Video with Sam Altman here.
Turning stocks
$SAGCV.HE
$MRC.TO
Decent buy from Armoyan:
The Story of a Real Estate Empire: Spotify link.
According to the guy I don’t like too much:
They own two REITs: $MRG-UN.TO (which the guy above owns) and $MRT-UN.TO, which much higher dividend yields.
On $MRT-UN.TO:
The pushback however:
From this thread:
The story of Rai Sahi, told by Tyler: link (archive).
$HUMBLE.ST
A thesis from @NoordermeerCap (archive).
Another one from AltaFox (archive).
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