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Patrick OShaughnessy @patrick_oshag
, 3 tweets, 2 min read Read on Twitter
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
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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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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
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“What do you want to be for Halloween?”

“Optimus Prime”

Most people? Amazon.com

@laurenoshag ? Full scale engineering project
The result: one happy 4 year old
And the thing auto transforms. Unreal!
Read 3 tweets

Related threads

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I asked for your input on books about science, ethics, equity. We pulled together an end-of year @ScienceCenters reading list with some of your suggestions & more from our staff, partners, members. Sharing here a few books on our list that weren’t suggested in the prior thread...
In addition to some of your suggestions, we’ve added to our reading list “The Poison Squad” by @deborahblum, Octavia Butler’s “Parable of the Sower”, “Winners Take All” by @AnandWrites, “What the Eyes Don’t See”by @MonaHannaA, “Drawdown” by @PaulHawken
As well as “American Eden” by Victoria Johnson, “The Fifth Risk” by Michael Lewis, “How to Be a Good Creature” by @SyTheAuthor, “The Alternative” by @mauriciolmiller, “The Tangled Tree” by @DavidQuammen, “Factfulness” by @hansrosling @AnnaRRonnlund @OlaRosling
Read 6 tweets
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Amazing. You can *literally* watch #Michael make landfall:
Wow:

O.M.G.

Read 3 tweets
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1/ I’m very passionate about #books. Every opportunity I get I try to buy some more books for my #antilibrary. However, over the last year, I have changed how I read books. I’d like to share the short story and process in the following thread:
2/ Story: I felt like I was stagnating. I read a lot but I didn’t think I read well. I’d forget almost all of what I read besides a few key points in a fairly short period of time. Being in fields that require consistent learning, I felt I needed to change my approach.
3/ I also researched retainment of learning and found the Ebbinghaus Curve otherwise known as the Forgetting Curve: en.wikipedia.org/wiki/Forgettin…
Read 22 tweets
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0/ So I have a #strategy quiz tomorrow, and while making notes I thought I will create a #tweetstorm with the major interesting take aways.

I am doing this coz it is also a great way for me to learn (as mentioned by @farnamstreet in this blog: fs.blog/2012/04/learn-…)
1/ A company can outperform rivals only if it can establish a difference that it can preserve. It must deliver greater value to customers (cost advantage) or create comparable value at a lower cost (differentiation), or do both.
2/ Activities are the basic units of competitive advantage.
Read 16 tweets
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The BBC Believes You Only Read 6 of These #Books...How many have you read? bit.ly/2F1jWvB Many have read "To Kill a Mockingbird", but how many have read Emile Zola's "Germinal"?
On a literary basis, at the very least, my @Twitter community rocks! Evidence - tweeted and otherwise - suggests my friends and followers here are "far above average", across many walks of life...
One of the pleasures of @Twitter (sprinkled betwixt the challenges!) is discovering how diverse and inspiring this global community continues to be. Thank you for that! Hoping your weekends give you a moment to curl up with a good book! :)
Read 3 tweets
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1/ Manu (The progenitor of Humankind)
All different races of Mankind are derived from Manu and Shradha. The current Manu is Vaivasvata Manu.
2/ The word Manu literary means man but it is a title given to the progenitor of mankind. According to Hindu Puranas there are many kalpas (One day of Lord Brahma the creator) and each Kalpa has 14 manvantara and each manvatara has one manu. So basically each Kalpa has 14 Manus.
3/ The current manu of the present manvantara is Shraddhadeva or Vaivasvata Manu of this current Kalpa. He is the son of Vivasvat (Probably Surya) and is therefore also known as Manu-vaivasvata.
Read 155 tweets

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