1/ The Queen's Gambit is apparently causing demand for chess to surge!

I play daily and coach at my kid's school, so I love seeing the interest

If you're want to learn about chess, here are some great free resources (thread)

Here are some of the big investors that track:

Altarock Partners
AKO Capital
Appaloosa
Akre Capital
Broad Run
Dorsey Asset
Duquense
Ensemble
Fundsmith
Polen Capital
Third Point

Here are their current top 10 holdings (in order) and links to their latest buys/sells ⬇️

Altarock Partners

Top

AKO Capital

Top 10 (in

Appaloosa: (David Tepper)

Top

Broad Run

Top

1/ My most popular tweets of 2020 by month (thread)

January:

A reminder of @morganhousel cash strategy.

For every $1,000 in cash:

More: ⬇️⬇️⬇️⬇️⬇️

2/ February

If you've truly found the next $AMZN, $AAPL, or $NFLX and can hold for years, it's nearly impossible to overpay.

But finding them is hard.

3/ March

Millennials have seen tech crash, 2008, and now #COVID19

I'm worried that many of them will swear off the stock market -- the greatest wealth-building device ever -- for life.

4/ April

Want to see the checklists used by

Buffet
Dalio
Fischer
Graham
Greenblatt
Klarman
Marks
Munger

and

5/ May

When the P/E ratio is:

Useless (Stage 1, 4) - $MDB, $SHOP, $PINS, $GME, $JCP

Semi-useful (Stage 2) - $TTD, $NFLX

Useful! (Stage 3) - $MSFT, $AAPL, $V

In determining valuation

Accounting is the language of business.

If you buy stocks, you MUST learn how to read a balance sheet.

Here’s everything you need to know:

The balance sheet is one of the 3 major financial statements.

It shows company’s:

▪️Assets: What it owns
▪️Liabilities: What it owes
▪️Shareholders Equity: It's net worth attributable to its owners

At a fixed point in time

That “at a point in time” part is key!

A balance sheet is a SNAPSHOT of a company’s net worth.

It is usually measured at the end of a quarter/year.

That’s different from an income statement or cash flow statement, both of which are measured over periods of time

All balance sheets follow the same formula:

Assets = Liabilities + Shareholders Equity

This formula must be in balance at all times

(Hence the term “balance sheet”)

Side Note:

This formula can be easily re-arranged into the “net worth” formula that you are already familiar with

Assets - Liabilities = Shareholders Equity (Net worth)

1/ How to review quarterly earnings 🧵

A step by step guide using $DXCM as an example

⬇️

2/ The BIG question: Is the thesis on track❓

Other question:

❓Is revenue growing?
❓Are margins stable/expanding?
❓Profits?
❓Balance sheet?
❓New opportunities?
❓New threats?

3/ I open 4 browser tabs

Tab 1 - Current company earnings report / shareholder letter

Tab 2 - Previous company earnings report / shareholder letter (check guidance)

Tab 3 - Analyst estimates

Tab 4 - Call Transcript

4/ Tabs 1 & 2 - Find the current & previous earnings report

I search "Dexcom Investor Relations"

I click on "press release"

Open the newest quarterly earnings report and last quarter

It can also be a shareholder letter/presentation

5/ Tab 3 - Find the quarterly analyst estimates

Open up $DXCM in yahoo finance

The "news" section usually has a link to reports on whether the company beat/met estimates

The "analysis" tab is a good source, but sometimes it updates to the next quarter too quickly

Female athletes are still subjected to the equivalent of a sex test, based on whether they appear feminine.

Dutee Chand in her successful appeal against the validity of the IAAF’s hyperandrogegism regulations, the Athletics Federation of India (AFI) originally began investigating her after complaints that she “ran like a boy”.

Chand was banned in 2014 after the AFI decided that her androgen (testosterone) levels were above the 10 nmol/L permitted by the IAAF’s hyperandrogegism regulations, resulting in her missing the Glasgow 2014 Commonwealth Games.

Androgens, including testosterone, are naturally produced in significant – but varying – levels by both men and women.

Endocrine profiles in 693 elite athletes in the post-competition setting’, found that 16.5% of the ‘male’ athletes had low testosterone levels, and 13.7% of the ‘females’ had high testosterone levels, ‘with complete overlap between the

#JusticeFootballLeague #JFL #EyeDropMedia
#JusticeIsComing #Trump #DarkToLight #NFL
A sporting analogy. RedPill Camouflage? #RedPilled

💥💥💥30 TEAMS - THE JUSTICE LEAGUE💥💥

👇👇👇👇 SEE TEAMS BELOW VIDEO👇👇👇👇

Oleg Karpov pisze, że gdyby Siergiej Sirotkin zdobył w pierwszej części sezonu więcej punktów od Strolla, to jego kontrakt z automatu zostałby przedłużony na kolejny sezon. Tak się nie stało i Williams ma możliwość szukania innych opcji i to właśnie robi. #F1pl

Czego w artykule brakuje, to informacji, że SMP prawdopodobnie przekazało Williamsowi część środków na sfinansowanie sezonu 2019. W przypadku zakończenia współpracy ekipa z Grove będzie musiała zwrócić te środki. #F1pl

To tłumaczy wysokie kwoty jakich Williams ma oczekiwać za fotel od nowego kierowcy. Jest pewnie próg opłacalności i dopóki nie zostanie osiągnięty, to zmiana z finansowego punktu widzenia nie będzie się zwyczajnie opłacała. #F1pl

Tyle można znaleźć w oświadczeniach prasowych... 😂😂😂

Thread:
Happy Birthday @therealkapildev
Kapil Dev was always present, in every cricket-crazy consciousness of India of my boyhood

#onthisday #cricket

One just had to close one’s eyes & the graceful, lithe run up could be seen, leap before delivery, head tilted to the left, right hand close to the chest left raised in front of the face, and then the left arm extended outwards as the right came around to send down the delivery

All through the 1980s with more cricket being telecast one found almost every cricket pitch, from coaching centres to school games, full of bowling actions that were almost exact replicas of the great man’s. Yes, Indians could bowl pace, successfully, and Kapil had shown the way

Anyone with more than a few paces in his run up seemed to follow in his excellent steps, at least as far as running up to the wicket was concerned. Almost every young lad in the country aspiring to bowl pace at any level of the game emulated the action.

From the early eighties, some occasionally tried to model their run up on Malcolm Marshall, although few managed the pace. One or two made a decent caricature of Imran Khan. But by and large, the template remained uniformly Kapil.