One rule that I’ve come to appreciate over time is that a consistent way to make small amounts of money is to bet on everything returning to their “base rate”, but often the path to real alpha is to identify an “inflection” where something has changed and the base rates no longer apply.
Lots to think about. Thank you! I'm wondering why Buffet isn't re-entering the big four airlines now that COVID is behind us and they're still valued cheaper than when he bought.
Good article. What do you think about cable names like ATUS right now? Are cable companies still high margin cash machines and this one is just massively overlevered?
Lots to think about. Thank you! I'm wondering why Buffet isn't re-entering the big four airlines now that COVID is behind us and they're still valued cheaper than when he bought.
Buffet did it in the 1970’s with newspapers .
Hey Andrew! I just wanted to mentioned I linked this one here:
https://www.libertyrpf.com/i/138049413/industry-inflection-points-throw-away-the-old-base-rates
Cheers 💚 🥃
Uranium hit a huge inflection at end of 2021/2022. Some saw it and I was lucky to join in on CCJ
Very helpful perspective. Thanks for writing it.
Thanks for another gem Andrew!
Shh! Keep it a secret!
Good article. What do you think about cable names like ATUS right now? Are cable companies still high margin cash machines and this one is just massively overlevered?
Enjoyed this one. Lot to think about here. Thanks.