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Thomas Chua Profile picture
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4 Dec, 8 tweets, 3 min read
I thought getting a finance degree would make me a better investor.

Instead, the best educators were at Fintwit University.

🧵 Here are 5 threads that taught me the most:
What you learn: How to read the income statement

From: @BrianFeroldi, writer at Motley Fool

What you learn: Why return on capital = return an investor gets

From: @10kdiver

What you learn: How retailers use psychological tricks to increase sales

From: @TrungTPhan

What you learn: Lessons from Buffett

From: @honam

What you learn: Growth by acquisitions

From: @heymaxkoh

If this have been helpful, follow me @steadycompound!

I write about investment concepts, business breakdowns and growth philosophies.
If you have enjoyed this thread, you're gonna love my newsletter where I curate 3 ideas on investing and growth philosophies.

Every week.

steadycompounding.com

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More from @SteadyCompound

Thomas Chua Profile picture
4 Dec
5 favorite quotes from The Psychology of Money:
Recognize the element of luck

"Realized that not all success is due to hard work and not all poverty is due to laziness.

Keep this in mind when judging people, including yourself."
Our judgements are often shaped by our experience.

Whether we realize it or not.

"Every decision people make with money is justified by taking the information they have at the moment and plugging it into their unique mental model of how the world works."
Read 8 tweets
Thomas Chua Profile picture
2 Dec
Investing has no style points.

Sometimes the best investment is a company with a simple business model.

Home Depot has been a 10-bagger in the past decade.

Here's why (a thread): Image
The company doubled down on its efforts on its "pros".

This group are largely professional renovators, contractors, etc.

They are less price sensitive and are very loyal.

By focusing on this group, Home Depot is much more efficient per-store/per-square foot.
This is evident when we compare them with their competitor: Lowe's.

In 2010, Home Depot made $30m per store while Lowe's made $28m.

Fast forward to 2020, Home Depot is making $58m per store while Lowe's making $45m.

Home Depot sales per store nearly doubled!
Read 8 tweets
Thomas Chua Profile picture
23 Oct
I've analyzed 100+ stocks that beat the market.

I always try to ask:

"What separates them from the rest?"

Here are 5 traits that stood out to me:
Customer-obsessed management.

Customers are why companies deserve to exist.

Seek out companies that are fanatical about creating value for their customers.

E.g. Every $AMZN meeting has 1 empty chair for the 'customer'.

"Start with the customer & work backward" — Bezos Amazon
Willingness to disrupt themselves.

Netflix started out with DVD rentals.

Reed Hastings saw the opportunity with streaming and was willing to disrupt & cannibalize their existing business.

Many others didn't: Nokia with touch screen, Kodak with digital cameras, Blockbuster. Netflix DVD
Read 8 tweets
Thomas Chua Profile picture
21 Oct
🧠 5 mental models that helped me recognize the patterns of great investments early:
Theory of Reflexivity by George Soros

I watched this play out in real-time with Tesla

We often think earnings drive share prices

But high share prices allowed $TSLA to raise a 'limitless' amount of capital

Which in turn allowed them to survive & eventually deliver earnings
Ecosystem Control by @DennisHong17

Every stakeholder in the ecosystem is voluntarily locked into the business

That lock-in is so compelling & powerful that it is economically irrational for anyone to unlock from the ecosystem
Read 8 tweets
Thomas Chua Profile picture
16 Oct
Youtube provides us access to the top investors worldwide.

But 98.8% don't use it to its full potential.

Five videos that provide the best investing insights:
What you learn: Fundsmith investing philosophies and company's thesis.

From: Terry Smith, founder of Fundsmith

What you learn: Characteristics of compounders & understanding your competitive edge

From: @yliownyc and @tseides

Read 8 tweets
Thomas Chua Profile picture
15 Oct
Latest global payment trends by McKinsey and what does it means for $MA $V $SQ $AFRM $ADYEY $STNE $SE $MELI $FB:
The pandemic resulted in the first decline in global payments revenues in 11 years.

But that is about to change.

Indicators point to an uneven rebound in 2021, bringing revenue back to 2019's record high.
McKinsey expects growth rates to return to the 6 to 7% range, generating approximately $2.5 trillion by 2025. Image
Read 11 tweets

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