- Striking how the latest letter has a total different feel to what they used to write about (here and here).
- A lot of their investments are now private and they participate in a lot of SPAC transactions.
- Part of it likely has to do with the change they made in Q2 2020 to invest in quality/compounders.
Tools
Evergreen resources and for the voracious learner.
Psychology of Human Misjudgement
- An investing classic – must read talk by Charlie Munger – rewritten in 2005.
- In it he covers 25 biases that all investors should know.
Biotech Guide
- For those interested in biotech this is a brilliant guide – “to get from 0-60 in understanding the field as quickly as possible.“
Support Snippet
- Snippet started as a passion project a year and a half ago.
- Since then almost 5,000 of you follow us across various platforms.
- A big thank you to everyone who reads and shares.
- With such growth the site is starting to incur higher costs like our Mailchimp bill.
- Therefore, I would be grateful for any support, commensurate to the value you feel Snippet provides.
- Thank you in advance.
Art of Reading
- This is a neat post on the art of reading well.
- Without giving too much away there is a lot to be learnt about how to read effectively.
- One idea that really struck home was, as one reaches the fourth and final level of reading, synoptic, connections start to form.
- Then, as Steve Jobs said, “Creativity is just connecting things”.
Investing Concepts
- This is a neat site where the author teaches non-obvious and very useful investing and finance concepts using twitter feeds.
Investment Resources
- Another useful page of investment resources.
- Includes early stage pitch decks from now famous companies (and one infamous ones – Fyre Festival).
13-F Screener
- A brilliant tool that:
- (1) Allows you to explore individual portfolios of more than 1,300 famous investors from Warren Buffet to hedge fund legends.
- (2) See the most popular investments in aggregate.
- (3) Pivot by stock to see who owns the shares and their recent actions.
- All data is based on 13-F filings.
Akin’s Laws of Spacecraft Design Investment Analysis
- Ever wondered what spacecraft design has to do with investment analysis? Surprisingly a lot.
- Read the fourth instalment of the Snippet Blog to find out.
Signal From Noise
- As the new year starts many, myself included, look to start forming new habits.
- As the third instalment of the Snippet Blog I felt it would be useful to give a few tips on how to make sense of the world and separate signal from noise.
52 Things – Snippet Edition
Christmas Competition 2020
- Test your investing skill and win a prize!
- The inaugural Snippet Finance Christmas competition is live.
- Think you can predict the stock market? Think you know which stocks will outperform? Give it a shot.
- The overall winner gets a bottle of champagne. The overall loser gets a wooden spoon.
- Get your colleagues/friends involved – simply enter your company name and we will tell you how you ranked within your group.
- Enter the competition HERE.
A year of Snippet
- Time lapse of all the charts posted on snippet since we started a year and a bit ago.
Snippet Blog
- Snippet Finance is launching a blog.
- As you know Snippet is a curation of the most interesting snippets on finance, investing and macroeconomics.
- In the Snippet Blog I will periodically write longer articles on a range of financial topics and feature them on the main page.
- You can find the blog in the top menu and in the Categories section.
- Enjoy!
Investment Resources
- A long fantastic list of investment resources.
- “The resources are not simply about investing. It is about becoming a better human being. Learning from the success and failure of others is the fastest way to get smarter and wiser without a lot of pain.”
Best Performing Stocks
- Alta Fox have done a massive analysis of all the best performing stocks over the last five years.
- Overall – they find that financially healthy companies with advantageous business positioning tend to do better.
- Acquisitions are a feature of these top performing stocks (perhaps because of the five year time frame).
- The analysis is a bit too micro cap focussed and only concentrates on Australia, Europe and North America and excludes some sectors (e.g. materials), but is nonetheless useful.
Pershing Q2 Letter
- Latest investment letter from Ackman’s Fund.
- Covers all his major holdings – HLT, SBUX etc.
Y Combinator Library
- YC have consolidated nearly 15 years of resources for startup founders in one place – the YC Startup Library.
- Full of blog posts, essays, videos and podcasts.
Hedge Fund Letters
- Q2 letters from prominent hedge funds were out early August.
- Three always worth reading:
- Einhorn’s Greenlight Capital Q2 Letter – discussing his long inflation bet, Wirecard fraud and Tesla.
- Loeb’s Third Point Capital Q2 Letter – where he discusses adjusting his process/strategy towards more quality compounders – with rationale for recent purchases (BABA, JD, AMZN etc) supporting this.
- Klarman’s Baupost Group Q2 Letter – where he discusses his eight impacts of the pandemic on the future.
Tech 2020 Updated
- Updated slide pack from Benedict Evans capturing the last six months – “forced experimentation and years of progress in weeks.”
- It is an update of his previous pack.
- One thought provoking chart is the change in online product search away from the giants AMZN and GOOG.
