Links🔗: Food for Thought

Below you find the most interesting investment-related content and thought-provoking articels I stumbled about in the recent past.
(includes: FAANG, Microsoft, universal basic income, Intuitive Surgical, Heico, PayPal, Allianz, Bayer, SAP, Multiples)

  • Prof. Galloway with a post outlining why FAANG + Microsoft will further dominate their industries (and the S&P)
  • Michael Mauboussin (investment theorist @ Morgan Stanley) with a paper stating that the corona virus might have brought us a market for stock pickers to shine
  • Prof. Damodaran explaining multiples again, this time
    • explaining current pitfalls
    • and general rules using them
  • Forager with its Value Case for Uber Technologies, explaining its rational for its Uber investment
    • the opportunity might exist because investors perceive todays Uber as the three-years-ago-Uber (unprofitable, without a path to profitability, PR disasters, involved in many unprofitable foreign markets as non-dominant player)
  • Oil futures turning negative was a novelty for financial markets, limited storage capacity was a reason as demand fell off a cliff and production cuts did not follow suit. The nearest futures could turn negative again.
  • The Economist about dividend payouts and stock buy backs
    • US companies favor buy backs much more than their European peers
    • if I believe a company to be undervalued I love them buying back their stock, since (i) it is more tax efficient for me and (ii) they automatically buy their undervalued shares in many small bits

Best and happy investing, s4v


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