Alex

🌲🌳

[Alex @alexdmackinnon]

$FFH.TO ranks among the elite of US listed companies

“There was 6000 listed in 1985, 600 survived to today - only 58 out of those managed 15% or more average return.” -Prem Watsa

[Alex @alexdmackinnon]

@TidefallCapital FOMO

[James Chanos @RealJimChanos]

This isn’t even remotely true. $AMZN went public in 1997 at a $450M valuation, or 3x revenues. $GOOGL went public in 2004 at a $23B valuation and at 7x revenues. $META had a $104B valuation in 2012 at 20x revenues(and immediately sold off almost 50%). SpaceX dwarfs these numbers.

[Alex @alexdmackinnon]

@TidefallCapital 🫳🏻🎤

[Mario Zelaya @mario4thenorth]

The Canada Pension Plan (CPP) has over 2,000 employees.

Top 5 managers, make more than $5 million per year.

They have never beaten the market.

Nevada has 1 guy. Who invests in ETFs.

Does nothing. All day.

And he outperforms the CPP.

Consistently.

For further context, if CPP invested in QQQ, for the last 10 years, instead of $800 billion in assets, we would have $2.4 Trillion.

VOO would put it at $1.6 trillion.

Lesson: The government will never outperform the market.

So don’t think the Sovereign Debt Fund will be any different.

[Alex @alexdmackinnon]

@PythiaR 😂

[Alex @alexdmackinnon]

@compound248 Well said

[Alex @alexdmackinnon]

@dividendology Love this dashboard!

[Alex @alexdmackinnon]

@patrick_oshag Interesting , third point sold majority of NVDA as per latest 13f

[Alex @alexdmackinnon]

@TidefallCapital 🙃

[Sawyer Merritt @SawyerMerritt]

SpaceX's Starship rocket just successfully performed a flip maneuver and precisely splashed down on target in the Indian Ocean next to a buoy with @Starlink on it.

The SpaceX team ends the stream with a "USA! USA! USA!" chant 🇺🇸

[Alex @alexdmackinnon]

@TidefallCapital Certainly seems plausible

[Alex @alexdmackinnon]

@CarsonTalkMoney What we’re seeing is really just more of the same, in terms of turnover.

The nuance is that larger positions keep its capital-weighted turnover very low, historical data shows that roughly 60% of his individual stock selections are fully liquidated within 3 to 5 years.

[Alex @alexdmackinnon]

@TidefallCapital When Druckenmiller was asked what he learned after losing $6B in 6 weeks he said “nothing, I knew that I shouldn’t be doing it, I just couldn’t help myself” such a great quote

[Alex @alexdmackinnon]

@BillBrewsterTBB 😆

[Alex @alexdmackinnon]

@TidefallCapital BIAL at 93% of market cap is just 🤌🏼

[Alex @alexdmackinnon]

@TidefallCapital Incredible !

[Boring_Business @BoringBiz_]

Howard Marks on holding onto winners in your stock portfolio

From his recent interview at Wharton

"Buffett says he made all of his money on 12 ideas. Guy invested for 70 years and said he made all his money on 12 ideas. Charlie Munger used to say he made all his money on 4 ideas. He didn't have as many good ideas as Warren"

[Alex @alexdmackinnon]

@TokyoDeepValue 😆

[Alex @alexdmackinnon]

@ohcapideas @kejca This is an awesome thread, thanks for sharing

[Jason @DukeInShadows]

Fairfax Financial in two graphs:
160% BVPS Growth while 20% less shares outstanding. $FFH.TO