Claude is so good that I think it’ll extend my investing career at least a decade. Everything that was effortlessly remembered when I was younger is no longer in working memory as I get older. Now Claude helps me connect the dots better than ever and go down rabbit holes quickly, whenever I want. What’s an extra decade of compounding worth?
My Japan allocation is nearing 30%. Mostly deep value stuff/net-nets. But I’ve been adding some software and cheap growth names. Here are some interesting ones that came up in a TIKR screen - all net cash with double digit revenue growth and relatively high returns on capital.
"In Asia, you're going to have about double the standard deviation than the US. So in a bad earnings year in Asia, the earnings really fall off. That could be explained by cyclicality, leverage, etc"
https://t.co/KWzLeJr2gm
I've (almost?) never seen Broadcom $AVGO discussed, a stock that is up 10,000% in 15 years. They have so many different lines of business it seems hard to really comprehend, and it seems like largely boring prodocuts, which is probably why the opportunity existed for so long?
Share count jumped 50% in 2017, so growth isn't quite as good as it seems here. But also, it seems that depreciation might way overstate the real expense? Capex is way below D+A but they did grow via acquisition which is always tricky.
This was trading for just ~13x free cash flow (backing out stock comp) in October 2022. What was the bear thesis, or was it just overlooked - probably not overlooked since it was $200 billion market cap.