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SVN Capital Profile picture
SVN Capital
@SvnCapital
Founder, Portfolio Manager - SVN Capital "Money often costs too much" - Ralph Waldo Emerson Disclosure: https://t.co/mPynSZsgwR
Apr 15, 2023 • 7 tweets • 2 min read
Credit Suisse released its 2023 report on family-owned businesses recently. It's been a great tradition in CS since 2006 and I hope it will continue even after UBS takes over CS.

There are some interesting findings: 1. Family-owned companies outperformed: Image
Oct 27, 2021 • 5 tweets • 1 min read
Just read this little book about the other Oracle - Stephanie Mucha. Unleashed the power of patience to create a multi-mill $$$ portfolio from humble beginnings. 1. Born in 1917 to poor Polish immigrants
2. Didn’t graduate high school
3. Worked as a nurse for VA Hospital in Buffalo NY
4. Husband Joseph earned $6k when he retired in 1958; she earned $23k when she retired in 1994
Sep 20, 2020 • 8 tweets • 1 min read
Li Lu of Himalaya Capital talking to students at Peking University's Guanghua School of Management in 2019. Some interesting comments on investing, life, knowledge...

longriverinv.com/blog/the-pract… Admittedly doesn't speak often in public - has to do with investing and own personal bias. Thanks to Longriver for translating this into English.
Sep 11, 2020 • 11 tweets • 2 min read
Peter Thiel at Stanford in 2017 - "Competition is for Losers".

This is a gem and is absolutely worth 50 minutes of your time. I've jotted down some of the nuggets below.

A business creates X dollars of value and captures Y% of X, where X and Y are independent variables. Goes on to explain how larger the TAM, larger the competition & hence less differentiation - one of the most important points in this speech!
Sep 7, 2020 • 8 tweets • 2 min read
Great presentation by Brian Bares of Bares Capital. Compounded capital at high-teen% over the last 18 years.

Finding an Edge; creating a moat around an investment process via @YouTube Many interesting points. I wish we could hear the questions! I jotted down some of the many finer points he makes.

"If I make a mistake I'd rather make it on price, not on quality of business."
Sep 2, 2020 • 9 tweets • 2 min read
I'm not in the habit of watching congressional testimonies. But this one by Jeff Bezos @JeffBezos (Jul 29, 2020) is well worth your time (~ 5 minutes).

cnbc.com/video/2020/07/… What caught my attention was the following: "More than any place on earth, entrepreneurial companies, start, grow, and thrive here in the US.
Sep 1, 2020 • 6 tweets • 1 min read
The Art of (Not) Selling from Akre Capital Management - (Not) by Chuck Akre, but by Chris Cerrone

akrecapital.com/the-art-of-not… Shows why he has been so successful - "We are unfazed when our businesses are quoted in the market at prices above what we would pay for them."
Aug 16, 2020 • 8 tweets • 1 min read
One I like is One of two major salvage yard players in the country
Aug 11, 2020 • 6 tweets • 2 min read
All the major brands, except which releases tomorrow, have announced Q2 2020. Common themes:
1) RevPAR decline > 85%
2) China recovery is almost complete
3) All brands continue to maintain & grow healthy pipeline of rooms FP:
1. RevPAR down by 88.2%
2. Transition to asset light model continues
3. As of 2019, 1.5 bill int'l travellers
4. Could drop by as much as 80% to 320 mill, which was the vol in 1985 when global pop was 1/3rd