I agree, @tylercowen's talk is beautiful, hopeful, evidence-based, forward looking. A fantastic antidote to the silly hype coming from the labs, very much in the line of our Messy Jobs (which Tyler gracefully blurbs!)- which will come out in Kindle and physical form on the 21st of June.
@AndreaVerolino@EOS_SG@ntu_ase@IPGP_officiel How bad would an event have to be at Barren Island, KW-23612 or other seamounts in the vicinity to be a threat to Singapore. Tsunamis are famously weak at getting through Straits and around corners? This study estimates a maximum of 15cm from an 8.4 reaching Singapore.
In first 5 months of year, >100% of S&P 500’s gains were driven by 10 largest constituents (meaning remainder detracted value); rally has broadened significantly in past 1.5 months; although 7 of 10 top contributors between January and May also feature among top contributors since June 1, top 10’s total contribution to return has fallen to just over a third between June 1st and yesterday’s close
@SPDJIndices
How many stocks are ideal in a portfolio?
Research shows that 15-20 stocks are the "sweet spot"
Adding more stocks reduces performance (tough to find dozens of great businesses) but it doesn't reduce portfolio standard deviation....
Sea Limited’s $SE Shopee is the top e-commerce in Southeast Asia (SEA) with US$47.9bn of total US$99.5bn e-commerce GMV (from top 9 platforms) with ~48% market share, and is No. 1 across all SEA countries.
Alibaba’s $BABA Lazada is 2nd at US$20.1bn with ~20% market share.
- Momentum Works
Exactly one year ago CNBC aired its last "markets in turmoil" special report. It took a big rally (+20% off the October lows) and a little luck with today's bounce, but the only indicator with a perfect track record lives on. S&P 500 total return over the last year: +1.5%. $SPX
🚀 $SHOP Smashes Expectations🔥:
Q1 EPS $0.01 vs Est. ($0.04)
Revenue $1.5B vs Est. $1.43B
$SHOP has done it again, leaving Wall Street speechless 🤐 with Q1 2023 earnings per share of $0.01, crushing expectations of a loss of ($0.04)💥Their revenue of $1.5 billion also surpassed predictions of $1.43 billion. That's an 25% increase from last year📈
$SHOP GMV skyrocketed by 15% to $49.6 billion, and GPV reached an astounding $27.5 billion, accounting for 56% of GMV processed in the quarter🌟Monthly Recurring Revenue climbed by 10% to $116 million as of March 31, 2023📊
Innovation is Shopify's middle name. In Q1, $SHOP launched Commerce Components by Shopify (CCS) and a game-changing AI shopping assistant powered by OpenAI's ChatGPT API🤖Expanding their reach, $SHOP partnered with big names like Intuit, Pinterest, IBM Consulting, and Cognizant🛍️
But it's not all sunshine and rainbows 🌦️ $SHOP reported an operating loss of $193 million (13% of revenue) and an adjusted operating loss of $31 million (2% of revenue). Gross profit dollars grew 12% to $717 million, but gross margin dipped to 47.5% from 53.0% in Q1 2022📉
$SHOP making moves, announcing major changes to its logistics business 🚛They're selling most logistics assets to Flexport, a tech-driven global logistics platform. In return, $SHOP will get a 13% equity interest in Flexport, which will become their official logistics partner🌐
Looking ahead to Q2 2023, $SHOP anticipates similar revenue growth, gross margin percentage, and a mid-single-digit percentage decrease in operating expenses compared to Q1 2023 💼 They're also planning for free cash flow profitability throughout 2023 and estimate capital expenditures of around $100 million for the year💡However, a severance charge of $140 to $150 million is expected in Q2 2023 due to workforce reduction📉
How does $SHOP comp against their peers?🧐
$GLBE, $MELI, $ABNB, $ETSY, $SE, $PINS, $CPNG, $AMZN, $CHWY, $FVRR, $BIGC, $W & $JMIA
@benedictevans Hard to find pure plays, the Google Amazon Microsoft to diversified. However;
Unity Software
Crowdstrike
Lemonade
UI Path
These guys are already disrupting large legacy companies in huge markets by leveraging "AI"
If you mean generative "AI" the pure plays aren't yet obvious