AGM

Mostly bad takes. Investing growth equity across global emerging markets.

[AGM @ConvexityCap]

Commitment > Optionality

[AGM @ConvexityCap]

@MrtnzAlvrz 🍩🍩🍩🍩

[AGM @ConvexityCap]

How alternative data and AI are transforming lending for underserved and new-to-credit borrowers

https://t.co/8IFYOfbxn5

[Nicholas Mulder @njtmulder]

My essay on the phenomenon of nationalization in an age of geoeconomic fragmentation for the new issue of Finance & Development: https://t.co/2ETWfYKp9S

[Atlas Press @realAtlasPress]

Karl Popper, this one is absolute gold

[AGM @ConvexityCap]

PS: recognizing it's a daily struggle to balance presence w/ a demanding career

[AGM @ConvexityCap]

Presence & rescuing aren't the same thing. U can help ur kids build self-reliance while being v/ present. Framing 'being around too much' as the problem conflates the two -- convenient for anyone whose job keeps them away

[Patrick OShaughnessy @patrick_oshag]

As a father of two young kids, I keep thinking about this from Dara:

"I think we're doing our kids a disservice by giving them too much, being around too much.

You want to love your kids, you want to know that they're absolutely loved and appreciated.

But it's the challenges in life that form you, and it's the overcoming of these challenges that give humans a profound satisfaction.

If you as a parent are overcoming these challenges for your kids, you're actually doing them a disservice long-term, whereas short-term you think you're doing them a favor.

They've got to learn how to make it in this world themselves.

A happy life is not necessarily an easy life."

[Finch Hatton @Finch__Hatton]

Older middle class dudes who own one material object that is a standard deviation or more above their economic status are always fascinating to talk to.

There is always a great story behind why Bob from accounting owns a Rolex Daytona or a Leica. Often passion or adventure.

[Patrick Hsu @pdhsu]

people aren’t celebrating this pancreatic cancer breakthrough enough. it should be international news

[ellington @not_ellington]

They always do this larp for the dumbest fucking companies. “Yeah bro I work 120hrs a week for Corgi™”

Like bro working more hours doesn’t make the company less retarded or your work more meaningful

They want to pretend they’re on the Manhattan Project or some shit and that by working Many Hours they prove to others and themselves the “importance” of their work when in reality it is actually often a 3-fingered sign you are insecure about your work and know it is meaningless

[Will Manidis @WillManidis]

https://t.co/aHOHtb1rcW

[Bill Gurley @bgurley]

Quick summary of what is happening with LLM model companies in China. 1) There is more VC $ available for open-weights than you think, 2) they are generating real revenue (as did open-source sw/saas companies in the West).

https://t.co/vluRvWJsId

[AGM @ConvexityCap]

Source: Ludovic Phalippou

[AGM @ConvexityCap]

Some of the best private equity investors I’ve met are in 🇧🇷. When bnchmrk rates are ~15%, you can’t f*** around w cheap leverage & value creation is not a fad +u have to manage insane inflation cycles, political madness, FX dislocations, credit & liq freezes...tks serious skill.

[The Secret CFO @SecretCFO]

Soooo … if this has been counted as $6B in Anthropic’s $30B end of q1 run rate revenue claim it would be the funniest thing since the first Naked Gun movie

[Dylan O'Sullivan @DylanoA4]

C. S. Lewis with maybe the most important paragraph ever written for people with creative ambitions

[Michael Mauboussin @mjmauboussin]

This is the time of year when a lot of investment firms welcome interns. While our work is geared toward institutional investors, a lot of it can be useful for learning about markets and the investment process. Here are a handful of reports and how they can guide interns:

[Harmony Holiday @Harmony_Holiday]

Sonny Rollins' solo on My One and Only Love

[Donut Shorts @DonutShorts]

#ThingsYouDontSeeAtBottoms:

[AGM @ConvexityCap]

@Jack_Raines barbell!

[AGM @ConvexityCap]

Oh, the feeling of being part of their growth