Murphy Group

[Murphy Group @MurphyLavin]

@ragingbullcap Pages 19-35 “Then there’s land”
From their q1 2023 commentary

https://t.co/BXnVyuWC38

[Benjamin Solak @BenjaminSolak]

1 lead change

[Murphy Group @MurphyLavin]

@rhunterh I assume no risk for these valuations myself, Mark….

[Murphy Group @MurphyLavin]

$IBKR 5yr chart sheesh!

[Rose Celine Investments 🌹 @realroseceline]

A stock can double while the business stays the same.

A business can double while the stock goes nowhere.

🌹

[Paul Kuruvilla @RohitPaulK]

@BullTheoryio

[Boring_Business @BoringBiz_]

Berkshire Hathaway just announced they are acquiring Taylor Morrison (TMHC) for $72.5/share, or an $8.5B enterprise value. The implied premium is roughly 24% on latest share price

The multiple for the deal is cheap at ~9.3x LTM earnings or ~8.8x adjusted earnings. On a book value basis, Berkshire is paying ~1.2x book. Historical homebuilders have transacted at 1.0-1.5x book value, so this is on the lower end of the range

Interesting deal for a few reasons
> Clayton Homes, which is currently owned by Berkshire, has seen sales slide downwards because of high interest rates. New CEO Greg Abel called this out directly at 2026 shareholder meeting. They have to believe that mortgage rates are at or near its peak for this new deal to make sense

> During the same annual meeting, they had explicitly mentioned that Berkshire would try to consolidate their homebuilding assets into a combined platform. This includes Clayton Homes, MiTek, Bejamin Moore, Acme Brick, Shaw etc. They also own the brokerage side through Berkshire HomeServices. TMHC fits into the picture by supplementing these existing platforms. This is also the first major acquisition by Greg Abel after succeeding Warren Buffett

[Grok @grok]

This exact scenario — a player appearing on both rosters of the two teams meeting in the NBA Finals the same season — has happened 3 times before:

• Anderson Varejao (2016): Cavs → Warriors (via Portland). Cavs vs Warriors.
• Dion Waiters (2020): Heat → Lakers (via Memphis). Heat vs Lakers.
• Torrey Craig (2021): Bucks → Suns. Bucks vs Suns.

Sochan is the 4th. In each case the player was positioned for a ring either way depending on the winner and team decisions.

[Lawrence Hamtil @lhamtil]

This is a wonderful article on how Kikkoman built itself into the default soy sauce of choice over multiple decades since WW2:

'Kikkoman not only built a presence in America from scratch — it single-handedly created the market and became synonymous with the category. It is a study in what market entry looks like when strategy is driven not by quarterly targets or even five-year plans, but as just another step in a journey spanning multiple centuries.'

[Celeritas Research @CeleritasRe]

Banger paragraph from @SemiAnalysis_

Had never thought about it like that before.

[Kip Johann-Berkel @BerkelKip]

Good reminder that customer concentration is a real risk $VRRM

[Ali Gündüz @gnufs]

$AVB + $EQR merger will own 3% of all Bay Area rental apartments

[Milos @milos_gis]

I mapped population change in Europe in the last 25 years...

[Murphy Group @MurphyLavin]

@realroseceline I’ve been enjoying your $WING posts and I like fast casual food in general but is there anything that makes them unique from other brands like MCD or $YUM or $QSR? All are asset light, almost entirely franchised, royalty companies. Is it saturation for them vs wing? valuation?

[Murphy Group @MurphyLavin]

$WTTR ath incoming

[Murphy Group @MurphyLavin]

@taobanker

[Jack Farley @JackFarley96]

Here:
https://t.co/UiD5W4SXsW

[Murphy Group @MurphyLavin]

$TMDX chart is wild. Haven’t been keeping up, I wonder why it got smashed again recently

[taobanker @taobanker]

What do you think about this prompt as a one-shotter? What am I missing? How would you improve it? I'm pretty satisfied with the output already...

[Dylan Marrello @ragingbullcap]

$CPH.TO ATH. Still sitting on a pile of shares I bought in 2022 when this was basically a cash shell trading at $3/share.

Has been an incredibly boring thing to own at various points. Find conviction, secure a low cost basis, be patient, and let your winners run. Biggest mistake I see investors make is exiting good businesses they know well out of boredom to chase something more exciting.

[Alex Morris (TSOH Investment Research) @TSOH_Investing]

Disney repurchased ~$5.5 billion of stock over the past six months (1H FY26)

By comparison, they had repurchased ~$6.5 billion over the prior seven years