Dan
@CMcript
CFA and Gamer, is that so weird?
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Top 100 books on investing:
The reason government programs are so inefficient is that, unlike a commercial company, the feedback loop for improvement is broken, because they have a state-mandated monopoly and can’t go out of business if customers are unhappy. No matter how bad the service is at your DMV…
The secret of hedge funds is revealed in a 41-page PDF: This paper analyzed 464 stocks that 10X-ed over a 24-year period. Here are the best factors that drive outperformance: (number 3 is the best 🧵)
This is Stanley Druckenmiller. He averaged 30% annual returns for 30 years without a single losing year. In 2009, he sat down for an 82-minute interview and revealed his entire approach. Here are the 5 most powerful lessons from it:
Valuation of firm depends on stage in its life cycle and the purpose of valuation. I tell my clients: tell the reason you need valuation I’ll give you approach. Look at full perspective: There are 6 stages: 1. Starup 2. Young growth 3. High growth 4. Mature growth 5. Mature…
Macroeconomics Cheat Sheet Here's everything you need to know:
This man achieved 921% returns while the market made 117%. He retired at 45 after making investors $2 billion. Yet you've probably never heard of him because he refused every interview and turned away new money. Here's Nick Sleep's secret to finding 100-baggers:🧵
Two people retire with identical portfolios One thrives while one ends up with nothing This is the power of "Sequence of Returns Risk" The greatest threat to new retirees Let’s talk about how to fight it🧵
"If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with one hell of a result." — Charlie Munger Here are 10 stocks with a return on capital > 20%:
I often think about this
7 Incredible book summaries by @MnkeDaniel 1. The Psychology of Money by Morgan Housel
Some fascinating charts from the Coatue EMW keynote deck 🧵 1/ Tech driven by major waves of innovation
1/ $AMD will be the next trillion dollar company. It announced several breakthrough products yesterday that'll accelerate its growth. Here is why $AMD is 5x opportunity from here: 🧵
7 Charts Every Investor Should Know 1. Bill Ackman sold the dip
Warren Buffett in a Nutshell
VIX reached 45 today. Here's every time this happened in the past, and what the S&P 500 did over the next few days ⬇️
The people acting like you’ve made a mistake buying stocks unless you’ve timed the absolute bottom are the same people with anonymous accounts that never share their portfolio or transactions. You cannot time the bottom. Period. I bought stocks all the way down in the Covid dip…
$GOOG can easily double in the next 5 years. Cloud revenue is exploding, Youtube growth remains strong and it's actively diversifying away from search. Yet, it's the cheapest mega-cap stock. Here is my $GOOG investment thesis: 🧵
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