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Tren Griffin @trengriffin
, 3 tweets, 1 min read Read on Twitter
"Grocery is among the thinnest margins out there in retail. The average grocer probably gets a 2-, 2.5-, to 3% operating margin." google.com/amp/s/www.cnbc… But the revenue per hour (RPH) is very high, so grocers have that goin' for them, which is nice! "Big hitter the grocer."
I was lucky to run into Jim Sinegal recently in a restaurant recently and to ask him questions like what it was like to have Charlie Munger in his board. It is Munger's favorite company after Berkshire. google.com/amp/s/25iq.com…
In 2001, the year the Internet bubble popped, Jim Sinegal met Jeff Bezos in a Starbucks in Bellevue, Washington and told the Amazon CEO about the Costco business model. "Sinegal explained the Costco model to Bezos: it was all about customer loyalty." The Everything Store.
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"According to the survey results, the median pay for full-time writers was $20,300 in 2017, and that number decreased to $6,080 when part-time writers were considered. The latter figure reflects a 42 percent drop since 2009, when the median was $10,500."
In my blog post on writing books I wrote: "6. Don’t expect to earn more than the minimum wage and be thrilled if you earn more." google.com/amp/s/25iq.com…
"In Mémoires (1759), Voltaire recalled how in his youth he had come across so many writers who were “penniless and held in contempt” that “he had decided not to add to their number.” laphamsquarterly.org/luck/voltaires… "Thanks to his fortune he was free to pursue his writerly life."
Read 3 tweets
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"Companies can lose a lot of money in their early years but be wonderful businesses if they are acquiring customers with long lives and strong variable margins."

But some businesses just do the losing money part. A critical skill is knowing the difference between the two types.
Customer-based corporate valuation (CBCV) = valuing a business on a "bottoms up" basis by valuing the customers. In a subscription business especially, this is an essential process if you want to understand if real value is being created despite a lack of current GAAP earnings.
"CBCV isn’t about being profitable from day one. It’s about variable profitability in net present value terms (while still being mindful of fixed cost overhead of course!)" Determining whether a specific business is a delicious cheesecake or a turd requires detective work.
Read 6 tweets
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“The Fasten Seat Belt sign is now illuminated. If you haven’t already done so, please check your cash and cash equivalent balances. Please lower your burn rate and make sure your defensive investments are in their full upright position.”
“If you find yourself needing an emergency exit from illiquid investments, please read carefully the special instructions card. Cash is more king than ever. If you can’t handle the haircut you are about to experience, please ask someone to do the selling to raise cash for you.”
“We remind you this remains an uncertain and no sympathy correction. No one knows anything for sure as is usual. Crying and whining is prohibited, including in the lavatories. Tampering with, disabling or destroying your brokerage statements is pointless and prohibited by law.”
Read 5 tweets

Related threads

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1. “Benghazi ain’t going away.”
~@CharlieDaniels
2. In 2012, Ma'an Network committed to establishing a 24-hour online news website in Egypt, Tunisia and Libya...?
clintonfoundation.org/clinton-global…
3. “Revelations of donations to the Clinton Foundation after Hillary Clinton joined the Obama administration in January 2009...”

Planned visit’s to... [Qatar] “interrupted” in Feb 2011, by protests in Egypt, followed by the same in Libya. (convenient)

acdemocracy.org/hillary-clinto…
Read 28 tweets
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Was there "sexual license" at the huge Georgetown Prep parties Kavanaugh attended in the 1980s, as Julie Swetnick alleged? Well, here's what the headmasters at GP and other area prep schools wrote, per The Washington Post, at the end of the 1980s. (h/t DM) washingtonpost.com/archive/local/…
2/ Kavanaugh was a blackout drunk football bro who partied every weekend in high school and was a weekday drinker over (at least) the summers. He was *exactly* the sort of guy who created a culture so dangerous it raised alarms across *seven school populations*. Think about that.
3/ Read the above, then re-read Swetnick's allegations and remember she's been trusted with multiple security clearances. The strength of her claims explains Republicans' decision to ignore her claims of sexual assault because they don't like her attorney. google.com/amp/s/www.cnbc…
Read 11 tweets
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New #Qanon #Jul3

Think logically.
Thing IG report.
Think what’s missing.
Do you think this was going to be litigated in this setting?
Case that implicates some of the most senior elected officials (treason) is being handled by the appropriate office.
Think NATIONAL SECURITY.
Q
Logical thinking.
Why was the case against AWAN filed under BANK FRAUD?
The result today is re: BANK FRAUD.
See last.
Connect.
The SWAMP is being DRAINED.
Q
Thing IG report.
#Qanon

Here is a link to the full IG report:
justice.gov/file/1071991/d…

Misspellings matter.
Q

Attached are the first 2 “THING” in IG report... was Awan offered a similar deal so they can pursue bigger fish?
Read 47 tweets
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Republicans launch their lyincomey.com website full of appallingly misleading statements and half truths designed to smear him.
There is a good rebuttal of most of the points on that website here: newrepublic.com/minutes/147971…
In some detail - the site said Comey lied about ‘leaking’ to the press while under oath. This is untrue. In this May 3rd transcript, he said the following:
Read 18 tweets
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I have done a bunch of research on casinos connected to Trump and Wynn since the Las Vegas shootings. So, this story today made a little light bulb do off. 1) bloomberg.com/news/articles/…
They were also raided by the FBI in March 2017 2) google.com/amp/s/www.bloo…
Oh there is this also: The chairman of the company that is building the casino hotel was once a protégé of Mr. Trump’s own casinos in Atlantic City. 3)
mobile.nytimes.com/2017/05/04/bus…
Read 8 tweets
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Senator Grassley has the entire case laid out in this list of names-- 👇 I've spent the better part of 3 days looking at connections. Was it an anti-Magnitsky Act campaign all along? Framed by Russians with DNC, U.K. & Aussie help? Grassley knows. #ReleaseTheMemo 👌👍🐍
If you take Sen. Grassley's list and began cross referencing with the names in the President's E.O. of 12/21/17, namely, Dan Gertler; Sergey Kusiuk; Goulnora Islamovna Karimova; Slobodon Tesic, and Artem Chayka, the picture begins to emerge. whitehouse.gov/presidential-a…
I want to do a thread on this, but it would require a hundred or more. It's that complicated. In Senator Grassley's list there is a tale that will shock the world. Someone more skilled than I am is going to sell a gazillion books if this story is ever fully revealed.
Read 136 tweets

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