The hottest Companies Substack posts right now

And their main takeaways
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Top Business Topics

Why the low multiple series: Rental Car companies edition, part 2

Yet Another Value Blog • 1631 implied HN points • 11 Jan 24
💰 Finance Companies
  1. Rental car companies are currently trading at low multiples, making them a potentially cheap investment.
  2. Despite the persuasive bear case, the bull case for rental car companies includes aggressive capital returns to shareholders and potential for sustained earnings.
  3. Structural improvements in the rental car industry, such as consolidation and disciplined supply, could support profitability even if current high levels are not completely sustainable.

🏆 Cannibal stocks

Compounding Quality • 2024 implied HN points • 01 Jun 23
💰 Finance Companies
  1. Cannibal stocks are companies buying back their own shares, increasing your ownership without effort.
  2. Buybacks create value when a stock is undervalued, like investing in your own company.
  3. 15 high quality cannibal stocks have criteria like ROIC, profit margin, EPS growth, and decrease in shares outstanding.

🔍 Screen for Quality Stocks

Compounding Quality • 1788 implied HN points • 08 Jun 23
💰 Finance Companies
  1. Screen for quality stocks by looking at criteria like revenue growth, earnings growth, FCF/earnings, ROIC, net debt/FCFF, and debt/equity ratios.
  2. Investing in companies with strong financials and good balance sheets is crucial for long-term success.
  3. Tools like Stratosphere can help you screen for quality stocks, even if you don't have access to Bloomberg.
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After Musk’s Lawsuit, No More Illusions About OpenAI

Big Technology • 4753 implied HN points • 08 Mar 24
🕹 Technology Companies
  1. Elon Musk's lawsuit against OpenAI revealed that the company's open promise was more of a ploy for recruitment than a true dedication to open-source.
  2. OpenAI's deal with Microsoft has created a situation where it must balance being close to AGI for profits while keeping its research proprietary, as Musk's lawsuit claims AGI has been reached.
  3. Musk's case against OpenAI showcases his concerns about Google's AI advancements and his efforts to shape the narrative around his relationship with OpenAI.

What's Next for SAS? (Again)

thomaswdinsmore • 199 implied HN points • 02 Jun 24
💼 Business Companies
  1. SAS founder Jim Goodnight faces a transition in leadership and ownership as he's 82 with no children engaged in the business.
  2. Options for SAS's future include selling to employees, a corporate buyer, or private equity investors, all of which may lead to restructuring.
  3. Despite initial plans to go public, SAS has faced challenges with growth and profitability, leading to multiple delays in the IPO process.

Your 10 Favorite Stocks

Compounding Quality • 746 implied HN points • 11 Jan 24
💰 Finance Companies
  1. The Wisdom of Crowds can lead to remarkably accurate predictions.
  2. Learning from others and collaborating can result in more knowledge and insights.
  3. Choosing stocks based on sound investment rationale and data can lead to successful investments.

22nd Century Group: Answering the Wrong Question

Invariant • 609 implied HN points • 14 Jan 24
💰 Finance Companies
  1. 22nd Century Group focused on developing low-nicotine cigarettes but didn't consider if consumers wanted the product.
  2. The company struggled with profitability and faced challenges even after receiving authorization for their products.
  3. Shifting focus to a different product with conventional nicotine levels came too late for the company to recover.

Hong Kong's death has been exaggerated

Asian Century Stocks • 471 implied HN points • 11 Feb 24
💰 Finance Companies
  1. Investor sentiment in Hong Kong is currently negative, but the perception of the city changing or dying may be misplaced due to its advantages like low taxes, currency stability, and efficient infrastructure.
  2. Despite economic struggles in China, Hong Kong's economy is recovering with tourist returns, retail sales growth, and positive net migration, with potential for lower interest rates in the future.
  3. Hong Kong remains vital in Asia, benefiting from low taxes, reliable legal system, and financial hub status, even amidst challenges like interest rate impact and risks from geopolitics and National Security Law.

❄️ 📈 2 idées pour mieux investir

Snowball • 491 implied HN points • 30 Jan 24
💰 Finance Companies
  1. Long-term investing is key; avoid focusing solely on short-term gains.
  2. Consider the Lindy Effect when evaluating investments for durability and resilience.
  3. Focus on quality, stability, and long-term value when selecting assets for your investment portfolio.

Jobs, jobs, jobs

Off to Lunch • 511 implied HN points • 16 Jan 24
💼 Business Companies
  1. There is evidence of a weakening job market with a drop in wage growth and job vacancies.
  2. Despite the decline, current job numbers are still stronger than pre-Covid times.
  3. Recruitment firms are noticing a decrease in demand for their services, indicating a shift in the job market.

Logista: Old Roots, Green Sprouts

Invariant • 491 implied HN points • 07 Jan 24
💼 Business Companies
  1. Quaking aspens have a unique way of growing, with all trees in a colony connected as part of the same single organism.
  2. Logista, a Spanish distribution company, is diversifying away from tobacco distribution and focusing more on next-generation nicotine products and pharmaceutical distribution.
  3. Logista is strategically growing through acquisitions, particularly in the pharmaceutical sector, aiming for inorganic growth to expand its reach.

100 Years of 'IBM'

The Chip Letter • 1965 implied HN points • 15 Feb 24
🕹 Technology Companies
  1. IBM has had a significant impact on the development of computer systems over 100 years.
  2. IBM's influence extends to technologies like mainframes, personal computers, and databases.
  3. The history of IBM shows both positive contributions to technology and darker aspects like the association with controversial events.

The Profile: The billionaire selling ugly shoes & the TikTok misfits talent factory

The Profile • 416 implied HN points • 05 Nov 23
🎭️ Culture Companies
  1. Early success can be extraordinary but also crippling, especially when transitioning to a new phase of life.
  2. Finding meaning beyond your professional identity, like family or personal joys, is important for preventing a sense of emptiness or darkness.
  3. Exploring new chapters in life, such as diving into business, making investments, and fighting complacency, can help navigate transitions and maintain fulfillment.

Liquidation.

News Items • 216 implied HN points • 29 Jan 24
💰 Finance Companies
  1. China Evergrande Group received a liquidation order from a Hong Kong court, amid its massive debt of over $300 billion.
  2. The liquidation process will involve attempting to seize control of Evergrande's assets outside China, including Hong Kong-listed subsidiaries.
  3. The outcome of the liquidation will be a test of Hong Kong court's legal reach and the handling of asset sales in a struggling industry.

Hidden Champions among India's ADRs/GDRs

Asian Century Stocks • 353 implied HN points • 10 Sep 23
💰 Finance Companies
  1. There are high-quality Indian companies listed overseas that international investors can consider.
  2. Among the 16 Indian companies listed overseas, five were highlighted as having competitive products and potential for growth.
  3. The Indian market has more than 5,000 listed stocks, with Indian ADRs and GDRs having a combined market cap of around US$660 billion.

Is EBITDA Really Bullshit? Answer: "It Depends"

Value Investing Substack • 353 implied HN points • 05 Aug 23
💰 Finance Companies
  1. EBITDA can be a controversial metric in finance, with some calling it 'bullshit earnings'.
  2. John Malone successfully used EBITDA to communicate TCI's growth strategy in cable industry.
  3. Valeant Pharmaceuticals' misuse of EBITDA led to financial trouble, highlighting the importance of understanding the context behind EBITDA figures.

✉️ Should post be delivered every day?

Off to Lunch • 157 implied HN points • 24 Jan 24
💼 Business Companies
  1. Ofcom is suggesting reforms to the UK postal service to manage reduced letter volumes.
  2. There is a debate on reducing letter deliveries to save costs, but the history and significance make it emotional.
  3. Interested parties can send views on the postal changes to Ofcom by April 3.

Resilience Series Part 4: Ems-Chemie

Business Breakdowns • 275 implied HN points • 03 Oct 23
💼 Business Companies
  1. EMS-Chemie maintains high and stable operating margins by embedding their products into the customer's processes.
  2. Investing in capital expenditures for long-term growth is crucial for resilience.
  3. Large insider ownership and intentional growth capex contribute to EMS-Chemie's success.

Letters #82/83: Evan Spiegel and Mitch Lasky (2014)

A Letter a Day • 196 implied HN points • 16 May 23
💼 Business Companies
  1. Email exchange between Evan Spiegel and Mitch Lasky focused on financing, hiring, and communicating with Facebook
  2. Discussion on the importance of sustainable monetization before seeking high valuations and the need for strategic hiring for growth
  3. Insight into the market conditions, the importance of revenue generation, and Snapchat's focus on innovation and growth

A short chat with Philo

Philoinvestor • 157 implied HN points • 16 Jun 23
💰 Finance Companies
  1. Philo is an investor and businessman with a focus on investing.
  2. Philo is a philoinvestor who makes decisions using a philosophical and unemotional thought process.
  3. Philo looks for investment opportunities in companies affected by Covid, macro headwinds, and inflation.

Why we're doing live events

Top of the Lyne • 157 implied HN points • 18 Mar 23
💼 Business Companies
  1. Primary research is essential to upgrade from secondary research.
  2. Engaging with industry experts in live interviews enhances insights.
  3. Live events with audience participation can provide valuable information and interactions.