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Patrick OShaughnessy @patrick_oshag
, 4 tweets, 3 min read Read on Twitter
Woke up this morning in the exact spot where I ran my first half marathon by accident (got lost in Vancouver’s Stanley Park & couldn’t walk for a week).

Fitting jump off point for a trip to Alaska to run a relay race with partners from the Royal Bank of Canada

🇺🇸 🇨🇦⛰⛰ 💪
For happiness, go north & go outside
Race day. Slow is smooth. Smooth is fast. Alaska is 👌👌
Awesome race, including negotiable affection and the hot tub time machine.
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More from @patrick_oshag see all

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1/ Thoughts and questions on debt...

We screen to avoid companies with worrisome leverage and over-reliance on capital markets, so @Jesse_Livermore and I have been discussing the current state of corporate debt. We see lots of worrisome looking charts like this:
@Jesse_Livermore 2/ But these measures leave out a key source of income for U.S. corporations: income from foreign operations, which has grown dramatically over the past twenty years. When we compare debt to measures of sales and income that include foreign sources, we get:
@Jesse_Livermore 3/ We can confirm this observation (which we built from the bottom up using company level data) by comparing the aggregate debt of U.S. non-financial corporations to their aggregate net worth (equity), a measure that more accurately reflects their total paying power:
Read 8 tweets
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Fav books of ‘18

- Factfulness by @HansRosling
- 7 Powers by @hamiltonhelmer
- Luxury Strategy by Kapferer
- Ficciones by Borges
- Who Is Michael Ovitz by @MichaelOvitz
- The Stranger in the Woods by @MikeFinkel
- Tomorrow 3.0 by @mungowitz
- Pitch Anything by @pitchanything
- Capitalism Without Capital by Haskel and Westlake
- Creative Selection by Kocienda
- Wild Company by the Zieglers
- How to Change Your Mind by @michaelpollan
One more:

- upside of stress by @kellymcgonigal
Read 3 tweets
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1/ Value strategies—which buy into stocks with low expectations—can be like IBM or like Apple.

When expectations are exceeded, as has been the case with Apple, you earn great returns. When expectations weren’t low enough, you get IBM

For both, future fundamentals drive results.
2/ With a crystal ball, a value investor could drastically improve their results. Among value stocks, returns diverge when sorted on good and bad future fundamentals (EPS growth).

Bad expectations + good results > bad expectations + bad results
3/ As blindingly obvious as this is, its helpful to see just how much of an impact future fundamentals have on value stocks.

Here we parse value stocks into groups based on their *forward* EPS growth. The spreads at the bottom are massive.
Read 16 tweets

Related threads

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yoonjin time travel au

On his 55th birthday, Kim Seokjin, also known in his neighborhood as “insufferable old Kim”, makes a wish to feel genuine happiness. The next day he wakes up 22 years old again and on the day he first meets his ex-boyfriend, Min Yoongi.

#YJweek18 #day1
to anyone who might read, qt only & don't reply so thread doesn't break cuz this is a looong au and my first uwu
there is some swearing just a heads up and this is angst w a happy ending so im sorry in advance
also this is lowkey inspired by Miss Granny (ph ver). haven’t watched the film but there’s a song on the OST that just FITS and i cry

here's the song:
Read 721 tweets
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Woke up this morning to a call that the neighbor at my old house is stealing my landscaping 🤔so now I get to drive back and file a police report over rocks 🙃
Follow up: NOW I’m angry. She didn’t take rocks - she took my mermaid statue from my garden! I WILL NOT STAND FOR THIS
So the cop went to knock on her door and she had all my stuff in a box in her garage (which she left open). He marched her over and made her put it all back
Read 5 tweets
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First-and-10 used to be a running down in the NFL. Whether you have Todd Gurley or Le'Veon Bell, it's no longer intelligent. Yet teams are still calling runs at a rate they were 20 yrs ago. Teams should call more passes, regardless of their RB's salary: sharpfootballanalysis.com/blog/2018/lack…
Teams haven't learned their lesson over the last 20 yrs. Passing on first-and-10 has become substantially more successful than rushing. In part because of rule changes & in part because teams are more adept at calling pass plays which deliver more consistency with a higher floor.
Here are the tendencies of all teams in 2017 on first-and-10 in the first half. Source: sharpfootballstats.com/situational-ru…
Read 13 tweets
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Woke up this morning to a dumpster fire in my mentions (I mean it's always a dumpster fire tbf). These fools are still spreading bullshit conspiracies that are so bonkers they aren't worth repeating but it's just so exhausting. I guess being a misogynist asshole never gets old.
But here's the thing -- these conspiracy theories they've been spreading about me for six years seem ludicrous on the surface but they actually work to infect the cultural understanding of me and my work on a much larger scale than their tiny little woman-hating communities.
These conspiracy theories range from: I'm embezzling money, I never finished my kickstarter project to bleaching my skin to appear more white and apparently now progressive I'm somehow responsible for the death of an activist.
Read 8 tweets
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Woke up this morning, turned on MSNBC news, and the first words I heard were, "Will this be the beginning of World War III?"

Let's talk about this. Not whether there will be a war. But the stories that surround us right now. 1/
Trump's entire campaign was based on a story of fear (in this case the fears of white people) -- America is failing, your lives are falling apart, everything you loved is disappearing, your future is bleak.

So, Make America Great Again. I alone can do this. 2/
Craft a story of fear that resonates with people's experience and then claim you are the solution. 3/
Read 25 tweets

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