Topic

Deep Dive Premium

A collection of 37 issues

Amazon 4Q'23 Update

Disclosure: I own Jan 2025 $55 Call Options of Amazon While many investors remain obsessed with quarterly topline growth of AWS, the real story continues to be North America’s sustained margin recovery. Here’s my highlights from yesterday’s earnings. Subscribe Revenue 1P revenue grew HSD and Amazon’s

CoStar: The Art of Creating, Capturing, and Protecting Value

You can listen to this Deep Dive here Jeff Bezos may be the most famous graduate from Princeton’s class of 1986, but the 1986 class had another graduate, Andy Florance, who also embodied a remarkable similarity in relentless ambition. They were, in fact, Physics lab partners at Princeton. After

Floor & Decor: A Special Specialty Retailer

You can listen to this Deep Dive here The late Charlie Munger was asked whether there is any current imitator of Costco. Munger mentioned Floor & Decor. Floor & Decor (FND) is a specialty retailer primarily selling hard surface flooring products. Management, however, likes to think they are in a

FleetCor: Far from Fleeting

Disclosure: I own shares of FleetCor Technologies Subscribe Visa and Mastercard built arguably two of the most impenetrable payment businesses in the world. Both of them run on an open loop payment system connecting the issuing banks, payment processors, card network etc. While the card networks’ i.e. Visa, Mastercard’

Enphase Energy: A Solar Roller Coaster

You can listen to the Deep Dive here If you invested $1,000 in Enphase Energy’s IPO in 2012, you would have only ~$140 left in 2016. That $140, if left untouched, would then become ~$44,000 by the end of 2022, a mind boggling >300-bagger stock in

Tesla: A Bet on Dominance in Potentially Compelling Megatrend(s)

You can listen to the Deep Dive here “…if someone in the year 1900 had to bet on the outcome of the battle between external steam combustion, internal gasoline combustion, and electricity as the future standard for powering cars, they’d have probably put their money on electricity. And at

Dollar General: Rural America's Retailer

You can listen to the Deep Dive here I am not sure how many of my readers ever set their foot in a Dollar Store in America, but there are more Dollar Stores in the US than Starbucks, Walmart, and McDonald's combined. Dollar General is the leading Dollar

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

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

Alphabet Update

Disclosure: I own January 2025 Call Options and Shares of Alphabet Inc. Subscribe To an economist, every monopoly looks the same, whether it deviously eliminates rivals, secures a license from the state or innovates its way to the top. I'm not interested in illegal bullies or government favorites: