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Compounding Quality

Dec 5, 2023 • 9 tweets • 3 min read • Read on X

Almost every Fund Manager has a CFA.

I'll teach you everything you need to know with this Cheat Sheet.

1️⃣ Quantitative methods:

2️⃣ Economics:

3️⃣ Financial Statements:

4️⃣ Equity Investments:

5️⃣ Fixed Income:

6️⃣ Alternative Investments:

7️⃣ Derivatives:

8️⃣ Portfolio Management:

If you liked this, you'll LOVE this MEGA cheat sheet.

Grab it for free here:
compounding-quality.ck.page/d1cee64a15

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More from @QCompounding

Compounding Quality

@QCompounding

Aug 12

Howard Marks once said:

"It's not what you buy, it's what you pay. And success in investing doesn't come from buying good things, but from buying things well."

Here are his 10 largest positions:

1. Torm Plc

Torm is a shipping company that primarily transports refined oil products and crude oil globally.

- Net Profit Margin: 44.7%
- ROIC: 12.3%
- Forward PE: 5.3x
- Long-Term Growth Est.: +25.1% per year

2. Chesapeake Energy Corp

Chesapeake Energy is an energy company focused on exploring and producing natural gas, oil, and natural gas liquids.

- Net Profit Margin: 10.7%
- ROIC: -7.9%
- Forward PE: 22.8x
- Long-Term Growth Est.: +4.8% per year

Read 12 tweets

Compounding Quality

@QCompounding

Aug 10

Humans are not rational

Here are 7 Behavioral Finance books I wish I read 10 years ago

1️⃣ Thinking, Fast and Slow by Daniel Kahneman

2️⃣ The Psychology of Money by Morgan Housel

3️⃣ Your Money and Your Brain by Jason Zweig

Read 8 tweets

Compounding Quality

@QCompounding

Aug 10

My favorite investing books

Let's dive into them:

Investing for growth (Terry Smith)

Only the best will do (Peter Seilern)

Read 19 tweets

Compounding Quality

@QCompounding

Aug 9

Criteria to screen for quality stocks

- Revenue growth > 5%
- Earnings growth > 7%
- FCF / earnings > 80%
- ROIC > 15%
- Net debt / FCFF < 5
- Debt/equity < 80%

Here are 15 Quality Stocks you should know:

1. Apple ($AAPL)

Apple is the largest company in the world manufacturing smartphones, personal computers, and tablets. 18% of all new phones sold are iPhones.

- FCF Margin: 28.3%
- ROIC: 48.8%
- FCF Yield: 3.5%
- Exp. yearly FCF growth (3 yr): 5.7%
- CAGR since IPO: 19.5%

2. Microsoft ($MSFT)

Microsoft operates as a software company. Word, Excel, … are all applications of Microsoft. Microsoft is also active in cloud storage.

- FCF Margin: 32.3%
- ROIC: 28.1%
- FCF Yield: 2.6%
- Exp. yearly FCF Growth (3 yr): 12.3%
- CAGR since IPO: 22.7%

Read 17 tweets

Compounding Quality

@QCompounding

Aug 8

Nick Sleep is one of the greatest investors of all time.

People who invested with him achieved a yearly return of 20.8% (!).

Here are 15 things I learned from reading his annual letters:

1. Start with the business model

Make sure you understand how a company makes money.

Invest in companies which have a good business model that have had success in the past. The best business models don’t change much over time.

2. Think on the long term

Would you buy a house if you only wanted to live in it for a few weeks? No. The same goes for stocks.

Only buy a stock when you’d be perfectly happy to hold it if the market would shut down for 10 years.

Read 18 tweets