Felix Narhi

partner @penderfund. stocks n' stuff.
Disclaimer:

[Felix Narhi @PenderFelix]

@modestproposal1 Nortel engaged in some practices in the late 1990s and early 2000s that echo the “circularity” concerns you’re pointing out

[Felix Narhi @PenderFelix]

@nicholadrummond Come and See is #1. Released in the Soviet Union in 1985 about WWII, Its not well know by western audiences, But is considered one of the most horrific & realistic war movies ever made. As such, it lacks the "elements of hope". Watch and see.
https://t.co/7KUu4kJKn8

[Felix Narhi @PenderFelix]

@iancassel I think on average it's the opposite. All companies report earnings after hours. On average, stocks gap up after earnings. If you sell your entire portfolio at market close and buy it back again at open (after it gaps up or down), apparently you make no gains.

[Felix Narhi @PenderFelix]

@buccocapital Halo Effect strikes again...

[Felix Narhi @PenderFelix]

@Austen The "Halo Effect" strikes once again

[Intrinsic Investing @IntrinsicInv]

This is important to understand. But you can choose to not compete against the algos. Humans already lost the war of trying to move fast to create alpha. But you can play a much slower game by changing time frames. The machines are still totally naive about 5-10+ year time frames

[Felix Narhi @PenderFelix]

@poileparole @Penderfund @hkuppy Everyone plays their own game.

Some prefer a $152 price when "executing" at the end of 2020 while others prefer a $31 price today when "not executing".

That's what makes a market.

[Felix Narhi @PenderFelix]

@exileofthemain @siyul @AndrewRangeley @Glassdoor It was actually a good quarter on most metrics. The near-term outlook was not great. Not everything was awful. But thanks for posting the insightful stock chart.

[Felix Narhi @PenderFelix]

@TomGardnerFool

[MastersInvest.com @mastersinvest]

‘Firms with the highest decade-horizon stock mkt returns tended to be younger, had larger drawdowns the prior decade & higher prior-decade R&D spending, as compared to more typical firms’

‘Can Observable Characteristics Forecast Outcomes?’ Bessembinder

https://t.co/EvTDTApeFx

[Brad Kaellner @bkaellner]

The investment case for $PAR by Ron Shaich of Panera fame...

How top performing restaurants are embracing tech to win the consumer https://t.co/qllSlcu8SV

[MastersInvest.com @mastersinvest]

"It's not that hard if you're running a public company, to make the quarter. You can cut costs, u can raise prices. But the question is, are you building sustainable competitive advantage? My view of the world is that there's nothing that matters more than competitive advantage."

[Felix Narhi @PenderFelix]

@BarbarianCap Indeed. They were grandfathered, hence FB etc still there. But not for switches. No longer appropriate for S&P large, mid or smallcap indices.

[Charlie Munger Fans @CharlieMunger00]

Despite being up 28x and 35x over the last 11 years, Amazon and Netflix have only beaten the market 6 of those 11 years

Worth considering this when your a business owner how gyrations don't change the underlying trend

[Felix Narhi @PenderFelix]

@BillBrewsterSCG @farnamjake1 Indeed. Not a lot of compounder talk about a decade ago when 10-year market returns were flat and books like this were popular.

[Felix Narhi @PenderFelix]

@thegallowboob Apparently one group is consistently more confident...

[Felix Narhi @PenderFelix]

@mjmauboussin @matt_levine Agreed in theory. The challenge is how to apply it practice. There is a lot of false precision in finance. DCFs can lead to more trouble than benefit, as rightly outlined in this article. I sometimes think back to
this "Hubble Telescope" slide.

[Rob Henderson @robkhenderson]

-People who read news have more distorted view of political opponents

-Politically Disengaged 3X more accurate in guessing how political opponents think compared w/extremists

-For Democrats, more education associated w/worse understanding of Republicans

https://t.co/DbU9khVeH9

[Felix Narhi @PenderFelix]

@choffstein Not a fan either, but some valid points here. https://t.co/S06tjcHQ7G