Amazon 2Q'23 Earnings Update

Disclosure: I own shares, and Jan 2025 $55 call options of Amazon This was perhaps the best Amazon earnings call from my recent memory, especially on Amazon Retail. Not surprising that the stock was +8% in after hours. Here are my highlights from tonight’s call. Subscribe Revenue 3P, subscription,

Meta 2Q'23 Earnings Update

Disclosure: I own shares, and Jan 2025 $50 call options of Meta While the stock is up +6-7% after hours, I found some mixed signals on this call to keep both bulls and bears interested. In any case, I have never found Meta’s earnings calls monotonous! Here are my

Alphabet 2Q'23 Earnings Update

Disclosure: I own shares, and Jan 2025 $50 call options of Alphabet “With 15 products that each serve half billion people and 6 that serve over 2 billion each, we have so many opportunities to deliver on our mission.” -Sundar Pichai (2Q’23 Earnings Call) Here are my highlights from

Spotify 2Q'23 Earnings Update

Disclosure: I own shares of Spotify Spotify stock has been one of the “winners” in 2023. A week ago, its YTD was +130%. With Generative AI, price increases, and potential margin improvement speculations, the stock crumbled after today’s earnings as it mostly appears to be  very much “work-in-progress” story,

CSX: The Old School "Monopoly"

You can listen to the Deep Dive here Subscribe Warren Buffett isn’t quite fond of making bold predictions, so I certainly took note when he mentioned the following in 2021 shareholder letter: “I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country

Meta's Achilles Heel(s)

Disclosure: I own shares and January 2025 $50 Call Options of Meta Subscribe First some caveats: while we have all probably read Charlie Munger’s quote “I never allow myself to hold an opinion on anything that I don't know the other side's argument better than

Brown & Brown: A Decentralized, Boring, Money Making Machine

Disclosure: I am long shares of Brown & Brown You can listen to the Deep Dive here Subscribe When I first read Leonard Read’s seminal essay: “I, Pencil”, it became abundantly clear to me that people who solve the co-ordination problem in capitalism are of paramount importance (if you

Meta's Moat

It's not "network effects". Disclosure: I own Meta’s shares and January 2025 $50 Call Options Subscribe During the weekend, I asked my twitter followers: What do you think Facebook's DAU to MAU ratio was in 2009? The number that got the highest votes

Adobe 2Q'23 Update

Disclosure: I am long shares of Adobe First things first, while as of this writing I do own Adobe shares, I have gradually trimmed half of my Adobe holdings for the last couple of weeks. By the time I will publish my Deep Dive next week, it is likely that

Tyler Technologies: Selling Software to the Government

You can listen to the Deep Dive here Subscribe My friend Liberty once mentioned to me that if someone reads William Thorndike’s “The Outsiders”, they should also read Phil Rosenzweig’s “The Halo Effect”. Reading just either, instead of both, of them may run the risk of creating lopsided