Insufficient Capital

Insufficient Capital is a private investment newsletter founded by @Peter__Stevens. Subscribe to updates here:

[Insufficient Capital @insufficientcap]

@meetblossomapp Now do FCF multiple

[Insufficient Capital @insufficientcap]

@QualityInvest5 Blockbuster

[Insufficient Capital @insufficientcap]

@Larryjamieson_ Guinea Grill

[Insufficient Capital @insufficientcap]

The unexpected battle for Smartpay $SMP $SMP.AX is heating up!
Revolut would be a curveball...

[Insufficient Capital @insufficientcap]

Interesting 9% move in Tesco $TSCO.L in the last two hours of trading 🤔

[Insufficient Capital @insufficientcap]

@jordanmartenst1 Congrats mate!!

[Autism Capital 🧩 @AutismCapital]

We found out what happened to the Titanic

[Insufficient Capital @insufficientcap]

Got to hand it to @saylor.
Using financial engineering to load up on $BTC, an asset that is meant to disrupt traditional finance - quite the achievement $MSTR

[Insufficient Capital @insufficientcap]

@misha_saul Doesn't change it from being a shithole

[Insufficient Capital @insufficientcap]

$FMG $FMG.AX lol

[Insufficient Capital @insufficientcap]

@BillyKovanis Coming up against L1 on that trade!

[Insufficient Capital @insufficientcap]

Why is L1 $LSF.AX trading at a 3% premium to NAV. Surely no LIC should trade at a premium.

[Insufficient Capital @insufficientcap]

@UpSchitts Baffles me.

[Insufficient Capital @insufficientcap]

Now trading at a premium to NAV 🤯

[Insufficient Capital @insufficientcap]

1% increase in NTA and 4.3% increase in share price. Discount to NTA now just 2%. Not particularly compelling even for great management. $LSF $LSF.AX

[Insufficient Capital @insufficientcap]

@8020invest Not compelling enough here and I don't love the current portfolio. Only worthwhile at 20%+ discount to NTA I think

[Insufficient Capital @insufficientcap]

Interesting to see Saba go deeper on Hearts and Minds $HM1.AX. Happy to hold and see what happens here. Discount to NTA has compressed to 15%. Perhaps a few more % in it.

[Insufficient Capital @insufficientcap]

1% increase in NTA and 4.3% increase in share price. Discount to NTA now just 2%. Not particularly compelling even for great management. $LSF $LSF.AX

[Insufficient Capital @insufficientcap]

If TTM cash flow from operations was the only piece of information available on Amazon $AMZN, I'd pay >1900B (19x) for the company. Margin expansion has just begun.

[Insufficient Capital @insufficientcap]

@misha_saul Fantastic piece

[Insufficient Capital @insufficientcap]

@michaelfrazis Mmm 230x annualised - bargain