If you have any high conviction zero's, fishhooksmccarthy2@gmail.com
Nov 22, 2019 • 5 tweets • 2 min read
Okay that does it, I am starting a thread on the real-time degradation of VIC (thank god I am unwilling to tolerate forums anymore, I can only imagine how bad CoBF is).
Aug 7, 2019 • 7 tweets • 2 min read
Another thread to dovetail nicely with the thread is hopefully an evergreen one that is a collection of Hall of Fame examples of what happens when the small-cap value mafia convinces themselves that they found the next "best business ever" and then find out they're wrong:
And just in case anyone doubts that the small-cap value mafia is a real thing... this video probably doesn't even include enough of the members to reach a quorum. Feel free to compare the holdings over time as discussed in their quarterly letters.
Everyone is talking about $BUR.LN and most of it is discussing whether or not the bear case is correct. That's fine. But I think there is another lesson for investors here that can be generalized across all future investments. This is a great example of "no called strikes"
What I would posit is that when you're paying >3x B/V for a biz that is generally a P/B type of business, you really shouldn't have any tolerance for "hair" on the idea because you're already taking such a big "risk" on the valuation already
Jul 15, 2019 • 7 tweets • 3 min read
Thread: Curious if FinTwit is aware of this and if it's actually alarming or if there is a joke here that I am not in on. So query: did you know the Yahoo exec on $BABA's board resigned <1 week before the IPO citing Sect. 11b of SA of 1933 re: lying in a registration doc? /1
Here is the letter of resignation. /2
