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What do Americans do when confronted with this dilemma:

Choice #1 - Eat more comfort food; or

Choice #2 - Take interest in and accept negative emotions, rather than suppressing them.

Answer: "Kraft Heinz adds shifts for mac & cheese."
"What the table data tells us is that people are making comfort food that can stretch a buck, which is not all that surprising since many of us have been thrust into financial uncertainty in relatively short order." thespoon.tech/comfort-food-s…
People are making cheeseburger soup? Seriously? When you can make chicken noodle soup?
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Tren Griffin
@trengriffin
If you have a friend that would benefit from a simple to understand explanation about what comes next with COVID-19, you might want to suggest that they watch Ellen DeGeneres interview Bil Gates:
"We had epidemics like the Ebola epidemic in Africa that should have gotten us ready. Then we had Zika. But a respiratory pandemic that's very widespread, we haven't seen anything like this for 100 years. I thought that the anniversary of 1918 would galvanize people as well."
"things] won't be back to normal until we have that phenomenal vaccine or therapeutics that are over 95 percent effective." He added that "we have to assume that's going to be almost 18 months from now." google.com/amp/s/www.holl…
Read 3 tweets
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Tren Griffin
@trengriffin
1/ "Suddenly, margins matter. Richer margins lengthen runway. How many more months of burn could the company yield with this alchemy? Let’s illustrate.." tomtunguz.com/why-margin-mat…
2/ You might hear someone say:

"Tren is old shool in his love for high gross margins."

If a business has low gross margins it doesn't have a lot of elbow room for below GM line expenses. I've been to low gross margins, and I don't want to go back.

google.com/amp/s/25iq.com…
3/ Sometimes when I'm sitting at a campfire someone will ask me to tell a scary story. I will occasionally tell the frightening tale of Pets.com which reported negative gross margins of $277,000 in the third quarter of 2000. Some otherwise smart friends owned it.
Read 3 tweets
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Tren Griffin
@trengriffin
1/In the real world people running a business and wise investors are focused on cash flow. Despite this Goldman writes: "The path to earnings normalization is everyone's focus." Every sheep maybe but not "everyone." Sheep like earnings because they're lazy and cash requires work.
2/ As you know: "Expected long-term cash flows, discounted by the cost of capital—not reported earnings—determine stock prices" because you've read "The Trouble with Earnings and P/E Multiples"csinvesting.org/wp-content/upl… by Rappaport and Mauboussin. Please don't tell me you haven't.
3/ "It’s the absolute dollar free cash flow per share that you want to maximize....Investors can’t spend percentage margins. What matters always is dollar margins: the actual dollar amount." Jeff Bezos

You can't pay a supplier or employee with "earnings." Cash is King and Queen!
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