# ![@bizalmanac Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::226450259.png) @bizalmanac Andy 🍕🏔️

Andy 🍕🏔️ posts on X about investment, stocks, $pgr, $csuto the most. They currently have [------] followers and [----] posts still getting attention that total [-----] engagements in the last [--] hours.

### Engagements: [-----] [#](/creator/twitter::226450259/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::226450259/c:line/m:interactions.svg)

- [--] Week [------] -28%
- [--] Month [------] -77%
- [--] Months [-------] -36%
- [--] Year [---------] +14%

### Mentions: [--] [#](/creator/twitter::226450259/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::226450259/c:line/m:posts_active.svg)

- [--] Month [--] -54%
- [--] Months [---] -45%
- [--] Year [---] -7.40%

### Followers: [------] [#](/creator/twitter::226450259/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::226450259/c:line/m:followers.svg)

- [--] Week [------] +0.33%
- [--] Month [------] +0.84%
- [--] Months [------] +3.90%
- [--] Year [------] +10%

### CreatorRank: [-------] [#](/creator/twitter::226450259/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::226450259/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[stocks](/list/stocks)  [finance](/list/finance)  [cryptocurrencies](/list/cryptocurrencies)  [technology brands](/list/technology-brands)  [countries](/list/countries)  [currencies](/list/currencies)  [social networks](/list/social-networks)  [gaming](/list/gaming)  [fashion brands](/list/fashion-brands)  [travel destinations](/list/travel-destinations) 

**Social topic influence**
[investment](/topic/investment), [stocks](/topic/stocks), [$pgr](/topic/$pgr), [$csuto](/topic/$csuto) #10, [acquisition](/topic/acquisition), [business](/topic/business), [money](/topic/money), [$apo](/topic/$apo), [$amzn](/topic/$amzn), [$cdns](/topic/$cdns)

**Top assets mentioned**
[Progressive Corp (PGR)](/topic/$pgr) [Apollo Global Management, Inc. (APO)](/topic/$apo) [Amazon.com, Inc. (AMZN)](/topic/$amzn) [Cadence Design Systems Inc (CDNS)](/topic/$cdns) [4 (FOUR)](/topic/$four) [Take-Two Interactive Software, Inc. (TTWO)](/topic/$ttwo) [Costco Hot Dog (COST)](/topic/$cost) [Old Dominion Freight Line Inc (ODFL)](/topic/$odfl) [TFI International Inc. (TFII)](/topic/$tfii) [W R Berkley Corp (WRB)](/topic/$wrb) [Burford Capital Limited (BUR)](/topic/$bur) [Spotify Technology (SPOT)](/topic/$spot) [Msci Inc (MSCI)](/topic/$msci) [MercadoLibre Inc (MELI)](/topic/$meli) [Not Pixel (PX)](/topic/$px) [S&P Global Inc (SPGI)](/topic/$spgi) [Amphenol Corporation (APH)](/topic/$aph) [Hershey Co (HSY)](/topic/$hsy) [CDW common stock (CDW)](/topic/$cdw) [Roper Technologies Inc (ROP)](/topic/$rop) [Texas Instruments (TXN)](/topic/$txn) [CVS Health Corp (CVS)](/topic/cvs) [MURPHY USA INC. (MUSA)](/topic/$musa) [Bridge Investment Group Holdings, Inc. (BRDG)](/topic/$brdg) [Alphabet Inc Class A (GOOGL)](/topic/$googl) [Remitly Global, Inc. (RELY)](/topic/$rely) [Microsoft Corp. (MSFT)](/topic/$msft) [Costco Wholesale Corporation (COST)](/topic/costco) [Watsco, Inc. (WSO)](/topic/$wso) [Ares Management, Corp. (ARES)](/topic/$ares) [KKR & Co, Inc. (KKR)](/topic/$kkr) [Blackstone, Inc. (BX)](/topic/$bx) [TransDigm Group, Inc. (TDG)](/topic/$tdg) [Crowdstrike Holdings Inc (CRWD)](/topic/$crwd) [Uber Technologies, Inc. (UBER)](/topic/$uber) [Casey's General Stores, Inc. (CASY)](/topic/$casy) [CCC Intelligent Solutions Holdings Inc. (CCCS)](/topic/$cccs) [McDonald's Corp (MCD)](/topic/$mcd) [Booking Holdings Inc (BKNG)](/topic/$bkng) [Descartes Systems Group Inc (DSGX)](/topic/$dsgx) [Tradeweb Markets Inc. Class A Common Stock (TW)](/topic/$tw) [Limitus (LMT)](/topic/$lmt) [PoolTogether (POOL)](/topic/$pool) [Hamilton Lane Incorporated Class A Common Stock (HLNE)](/topic/$hlne) [Copart, Inc. (CPRT)](/topic/$cprt) [DisChain (DIS)](/topic/$dis) [Berkshire Hathaway Inc. (BRK.A)](/topic/$brka) [MONDELEZ INTERNATIONAL INC (MDLZ)](/topic/$mdlz)
### Top Social Posts
Top posts by engagements in the last [--] hours

"Doubt we ever see TVK buy back again but they did some serious damage specifically [----] [-----] almost $600mm in returns from their buyback program:"  
[X Link](https://x.com/bizalmanac/status/1953592777889264049)  2025-08-07T23:03Z 10.2K followers, 25.7K engagements


"Nice graph from $ACGL"  
[X Link](https://x.com/bizalmanac/status/1257878431443881990)  2020-05-06T03:42Z [----] followers, [--] engagements


"Keysight Technologies is an overlooked and underappreciated industrial technology business. Since being spun out of Agilent in 11/2014 FCF/shr. has grown 29.0% annualized yet The Company is early in their process of streamlining their org. and investing for growth (1/10)"  
[X Link](https://x.com/bizalmanac/status/1261373103529062400)  2020-05-15T19:09Z [----] followers, [--] engagements


"Among The Companys competition [--] are pure-play and publicly traded in the U.S.; Ametek Fortiv National Instrument Teledyne and Viavi. Keysights sales CAGR stands out at nearly double the groups average while it's multiple is only 19.3% greater than the average (7/10)"  
[X Link](https://x.com/bizalmanac/status/1261373677351755776)  2020-05-15T19:11Z [----] followers, [--] engagements


"Keysight's future results will continue to improve as they switch software and services to recurring revenue models. Considered together their M&A program and emerging technology initiatives (below) are a positive expected value portfolio of high-growth opportunities (8/10)"  
[X Link](https://x.com/bizalmanac/status/1261373792070311944)  2020-05-15T19:12Z [----] followers, [--] engagements


"$NDAQ mgmt./ownership is noteworthy. CEO Adena Friedman has [--] yrs. of tenure and owns $68mm of stock. Dubai and The Wallenberg family of Sweden are Directors and own 18.1% and 11.8% respectively. Friedman suggests continued expansion of tech. offerings at Piper conf. 6/4/2020"  
[X Link](https://x.com/bizalmanac/status/1268643383565828096)  2020-06-04T20:38Z [----] followers, [--] engagements


"@caleb_investTML I like $RAMP as a pure play on programmatic advertising. Current mgmt has divested noncore assets and aggressively bought back shares. Was disappointed stock gave up much of its earnings results recently"  
[X Link](https://x.com/bizalmanac/status/1272326896093671426)  2020-06-15T00:35Z [----] followers, [--] engagements


"Per $ZM's final S-1/A before their IPO on 04/17/2019 $CRM invested $100mm at $36/shr. the PoP price. # of shares purchased was 2.8mm less than 5% of Class A stock so no disclosures required. ZM shares are up 6.9x since their IPO [--] months ago"  
[X Link](https://x.com/bizalmanac/status/1277626781999251456)  2020-06-29T15:35Z [----] followers, [--] engagements


"Recent Tweetstorms - $PGR - $RAMP $TW $KEYS $DSGX https://x.com/bizalmanac/status/1266440777468719105s=20 https://x.com/bizalmanac/status/1261373103529062400s=20 https://x.com/bizalmanac/status/1258451084684726273s=20 https://x.com/bizalmanac/status/1278451533881974785s=20 https://x.com/bizalmanac/status/1273993596237209602s=20 Descartes Systems Group Inc. provides software and data to transportation providers logistics service providers manufacturers retailers and distributors (1/13) https://t.co/GSrFHEBjER https://x.com/bizalmanac/status/1266440777468719105s=20"  
[X Link](https://x.com/bizalmanac/status/1278512133215522816)  2020-07-02T02:13Z [----] followers, [--] engagements


"2/ Refreshing my long $CDNS thesis after they reported [----] Q2 earnings yesterday. Y/y Revenue and EPS growth of +10% and +16% beat sell-side estimates but track closely to the Companies performance recently. Guidance is for +11% sales growth in Q3 and FY2020"  
[X Link](https://x.com/bizalmanac/status/1285616835761668096)  2020-07-21T16:45Z [----] followers, [--] engagements


"3/Electronic Design Automation EDA is software used by companies that design semiconductors and other electronic systems. Cadence is the second largest EDA business globally behind Synopsis $SNPS. Together they represent about 60% of all EDA revenues"  
[X Link](https://x.com/bizalmanac/status/1285616836948697088)  2020-07-21T16:45Z [----] followers, [--] engagements


"Graco $GGG sales by segment from their Q2 earnings released 7/22/2020. 'Contractor' sells paint dispensing equip. and reflects strength in home-building etc. 'Industrial' and 'Process' point to weakness in the global industrial economy and hydrocarbon end-markets respectively"  
[X Link](https://x.com/bizalmanac/status/1286382280093687811)  2020-07-23T19:26Z [----] followers, [--] engagements


"1/ Entegris $ENTG sells chemicals and material handling solutions to semiconductor mfgs.; a picks and shovels business. What I like; critical component in a high-value process majority of revenue is recurring increasing share rep. 5Yr. FCF/Shr. CAGR of 32.4% 10.7% CFROA"  
[X Link](https://x.com/bizalmanac/status/1286739984066674688)  2020-07-24T19:08Z [----] followers, [--] engagements


"@HumewoodCastle Obviously the same underlying assets but the stocks dont trade the same. I own $CHTR bc it outperforms when market is down more so than $LBRD"  
[X Link](https://x.com/bizalmanac/status/1287084311540367361)  2020-07-25T17:56Z [----] followers, [--] engagements


"Recent Tweetstorms - $RAMP $PGR $CDNS $LMT Media Platforms; $NYT $PTON $ROKU $SPOT and more $SPSC https://x.com/bizalmanac/status/1287061555973062656s=20 https://x.com/bizalmanac/status/1273993596237209602s=20 https://x.com/bizalmanac/status/1287822141598183425s=20 https://x.com/bizalmanac/status/1267543120910188544s=20 https://mobile.twitter.com/bizalmanac/status/1278451533881974785s=20 https://x.com/bizalmanac/status/1285675371686514689s=20 1/ Software swami @ericvishria offered There are a lot of really interesting SaaS and marketplace crossovers where you cantake elements of both business"  
[X Link](https://x.com/bizalmanac/status/1287849051166257153)  2020-07-27T20:35Z [----] followers, [--] engagements


"4/ SITE announced that they are resuming M&A activities and shared details of their conversations with pending targets as well as of the house-keeping initiatives undertaken by their development team during Q2"  
[X Link](https://x.com/bizalmanac/status/1288539673644736515)  2020-07-29T18:19Z [----] followers, [--] engagements


"5/ Among high-quality distributors $POOL is the most similar business to SITE and both trade for similar multiples. In contrast to SITE POOL carries less debt and is an infrequent acquirer. $FAST compares favorably to both $CDW looks cheap and $WSO expensive for low growth"  
[X Link](https://x.com/bizalmanac/status/1288539674659688448)  2020-07-29T18:19Z [----] followers, [--] engagements


"1/ Lower interest rate vol. and a flatter yield curve reduced trading volume in $TW Rates segment their largest in Q2 [----]. All other segments grew substantially leading to revenue and EBITDA growth of 12.0% and 16.5% y/y https://mobile.twitter.com/bizalmanac/status/1266440777468719105s=20 Tradeweb is the largest electronic fixed income exchange by volume but is obscure as a recent IPO with complex ownership. Their opportunity is massive as FI assets are worth 2.5x equities globally but only 50% are traded electronically compared with 90% of stocks (1/12) https://t.co/WkO1mtiANO"  
[X Link](https://x.com/bizalmanac/status/1289292551690821632)  2020-07-31T20:11Z [----] followers, [--] engagements


"$EPAM and $GLOB are similar businesses outsourced application design firms GLOB Sales FCF and BVPS 5Yr. CAGRs are 10-20% better and ROAs are identical Black line below is GLOB - EPAM P/E. Median is 6.6x and currently is 22.4x Any strong opinions about either I like both"  
[X Link](https://x.com/bizalmanac/status/1294360985684324353)  2020-08-14T19:51Z [----] followers, [--] engagements


"Am I missing any publicly traded alternative asset managers Maybe international listings Big Boys - $APO $BAM $BX $CG $KKR Small Fries and Oddballs - $AC $AMG $ARES $HLNE $KW $PIOE $SCU (fka $OZM)"  
[X Link](https://x.com/bizalmanac/status/1295688871972425731)  2020-08-18T11:47Z [----] followers, [---] engagements


"Old Dominion $ODFL stands out among transportation businesses Capital allocation operational execution management / ownership all top notch Below from their most recent deck"  
[X Link](https://x.com/bizalmanac/status/1296257460626391041)  2020-08-20T01:27Z [----] followers, [--] engagements


"Synopsys $SNPS buying their way into the software integrity market Cadence $CDNS moving into electronic systems and simulation software Interesting to watch both expand beyond EDA"  
[X Link](https://x.com/bizalmanac/status/1296261553478565889)  2020-08-20T01:43Z [----] followers, [--] engagements


"Autodesk $ADSK counts 2.4x more noncompliant users than they have paying subscribers"  
[X Link](https://x.com/bizalmanac/status/1297019842101489666)  2020-08-22T03:56Z [----] followers, [--] engagements


"I did not know $BRK owned Verisign $VRSN Type of business digital monopoly and size of position currently $2.7B both point to a Todd Combs position Is that true OG Lou Simpson has served on VRSNs BoD since [----] so maybe he whispered into WEBs ear"  
[X Link](https://x.com/bizalmanac/status/1298055118584254471)  2020-08-25T00:30Z [----] followers, [--] engagements


"Ubiquiti $UI puts up great results. Over the last five years: -Sales and EBIT both doubled -Asset base flat -Share count reduced by 24% -Founder Robert Pera owns 86% of the business worth $10B at current prices Any strong opinions about Ubiquiti out there"  
[X Link](https://x.com/bizalmanac/status/1299101321891639296)  2020-08-27T21:47Z [----] followers, [--] engagements


"From IDEXX $IDXX 8/13/2020 investor day deck Good for our pets health Bad for our teeths 😬"  
[X Link](https://x.com/bizalmanac/status/1299159952251027456)  2020-08-28T01:40Z [----] followers, [--] engagements


"From Intuits $INTU [----] Q4 conference call 8/25/2020 Three potential shapes of an economic recovery for SMBs: 1) Swoosh 2) W 3) W W"  
[X Link](https://x.com/bizalmanac/status/1300576785919365120)  2020-08-31T23:30Z [----] followers, [--] engagements


"15/ Health Insurers pay for the majority of ResMeds products and so changes to reimbursement policies have significant impacts especially in the U.S.A. Australia and China are the largest countries that currently do not offer reimbursement for sleep apnea products"  
[X Link](https://x.com/bizalmanac/status/1301581020165296129)  2020-09-03T18:01Z [----] followers, [--] engagements


"16/ Inspire Medical Systems $INSP offers an OSA treatment for patients non-compliant with CPAP masks 35-65% of the population. Their solution requires an implanted device and is early in its acceptance by the insurance and medical communities but may threaten RMD in the future"  
[X Link](https://x.com/bizalmanac/status/1301581021691904000)  2020-09-03T18:01Z [----] followers, [--] engagements


"2/ The below set of industrial design software businesses generated median 5Yr. sales and FCF/Shr. CAGRs of 10.1% and 19.8% on 17.8% FCF ROA An equal weighted portfolio of the group outperformed QQQ by 18.3% and SPY by 27.6% pa over the last three years http://snt.io/LNFiHmMmS http://snt.io/LNFiHmMmS"  
[X Link](https://x.com/bizalmanac/status/1303769249505316864)  2020-09-09T18:56Z [----] followers, [--] engagements


"3/ Bentley Systems $BSY an infrastructure design software business filed an S-1 on 08/2020 and an S-1/A on 9/8/2020 in advance of an expected IPO BSYs business and results are similar to the group of industrial design software businesses https://www.sec.gov/Archives/edgar/data/1031308/000155837020011058/bsy-20200908xs1a.htm https://www.sec.gov/Archives/edgar/data/1031308/000155837020011058/bsy-20200908xs1a.htm"  
[X Link](https://x.com/bizalmanac/status/1303769251573043219)  2020-09-09T18:56Z [----] followers, [--] engagements


"Copart $CPRT does not buy back shares often But when they do they bottom tick it"  
[X Link](https://x.com/bizalmanac/status/1305602891193806848)  2020-09-14T20:22Z [----] followers, [--] engagements


"Servicenow $NOW annualized ACV growth across cohorts Central tendency of +80% growth per year"  
[X Link](https://x.com/bizalmanac/status/1306096979924008962)  2020-09-16T05:06Z [----] followers, [--] engagements


"Zscaler founder / CEO / Chair Jay Chaudhry on why $ZS maintains [---] data centers: TL;DR: - Faster bc ZS [---] [--] public cloud DCs in operation - Cheaper on the margin. ZS invested in DCs early and now benefits by not having to rent compute from BBG conference 9/24/2020"  
[X Link](https://x.com/bizalmanac/status/1310422556034437122)  2020-09-28T03:34Z [----] followers, [--] engagements


"Reading through @mjmauboussin excellent paper on U.S. public and private equity as I research Blackstone $BX and KKR $KKR But this chart jumped off the page. Over [--] years $2T shifted from actively managed to index funds $MSCI and $SPGI are my two favorite ways to play"  
[X Link](https://x.com/bizalmanac/status/1310586880208130048)  2020-09-28T14:27Z [----] followers, [--] engagements


"@SecretCapital2 Love this Reminds me of another of my favorites: @adenatfriedman joined $NDAQ in 1990s out of business school CFO / MD at $CG from 2011-2014 then back to NDAQ as President promoted to CEO in [----] Cant fake the employee perspective"  
[X Link](https://x.com/bizalmanac/status/1311104534345928705)  2020-09-30T00:44Z [----] followers, [--] engagements


"New Chairman of S&P Global $SPGI as of 10/1/2020 -Richard Thornburgh aged [--] -Director since [----] [---] year career as investment banker then executive at @CreditSuisse Does not change the SPGI thesis I grade management / ownership B+ http://press.spglobal.com/2020-09-30-S-P-Global-Names-Richard-Thornburgh-Non-Executive-Chairman-of-the-Board-Announces-Retirement-of-Charles-Haldeman-Jr http://press.spglobal.com/2020-09-30-S-P-Global-Names-Richard-Thornburgh-Non-Executive-Chairman-of-the-Board-Announces-Retirement-of-Charles-Haldeman-Jr"  
[X Link](https://x.com/bizalmanac/status/1311520723303833600)  2020-10-01T04:18Z [----] followers, [--] engagements


"Any Factset $FDS users out there with commentary Bonus points if you can compare and contrast against competing investing softwares businesses"  
[X Link](https://x.com/bizalmanac/status/1311799818558353408)  2020-10-01T22:47Z [----] followers, [--] engagements


"File under; "What the wise man does in the beginning fools do in the end" - WEB the GOAT $KKR's [----] minority investment into Nephila a leading insurance linked securities asset manager and Markel's $MKL purchase of 100% Nephila in [----] https://www.prnewswire.com/news-releases/markel-to-acquire-nephila-holdings-limited-300705253.html https://www.prnewswire.com/news-releases/markel-to-acquire-nephila-holdings-limited-300705253.html"  
[X Link](https://x.com/bizalmanac/status/1312810552050286593)  2020-10-04T17:43Z [----] followers, [--] engagements


"Simulations Plus $SLP: The 90s called. They want their graphics back"  
[X Link](https://x.com/bizalmanac/status/1315465191652556801)  2020-10-12T01:31Z [----] followers, [--] engagements


"I'm researching document digitization and process automation software tools Do you know any other M&A by public companies in this space besides; 1) Dropbox $DBX acquisition of HelloSign 2) Docusign $DOCU acquisition of SpringCM Thank you"  
[X Link](https://x.com/bizalmanac/status/1315780273674518528)  2020-10-12T22:23Z [----] followers, [--] engagements


"@Logos_LP $WING $CSGP $ROP $VRSN Too many SaaS to name"  
[X Link](https://x.com/bizalmanac/status/1319057713591144454)  2020-10-21T23:27Z [----] followers, [--] engagements


"Still learning about Entegris $ENTG But awesome quarter from them. All y/y: Sales +22% EBIT +38% EBITDA +32% Semiconductor businesses were busy this summer 1/ Entegris $ENTG sells chemicals and material handling solutions to semiconductor mfgs.; a picks and shovels business. What I like; critical component in a high-value process majority of revenue is recurring increasing share rep. 5Yr. FCF/Shr. CAGR of 32.4% 10.7% CFROA https://t.co/9hTXUTjNxe 1/ Entegris $ENTG sells chemicals and material handling solutions to semiconductor mfgs.; a picks and shovels business. What I like; critical"  
[X Link](https://x.com/bizalmanac/status/1319233287227904003)  2020-10-22T11:05Z [----] followers, [--] engagements


"Progressive's results from [----] - [----] are unbelievable when compared against their results (THE SAME COMPANY) from [----] [-----]. A Cambrian explosion within the country's third largest automobile insurer - What explains this phenomenon - Will it persist - Why $PGR"  
[X Link](https://x.com/bizalmanac/status/1320383219984982016)  2020-10-25T15:14Z [----] followers, [--] engagements


"$PGR breaks down their sales called Net Premiums Earned into volume called Policies in Force and price called Premiums per Policy across their four segments; -Agency (42% of [----] sales) -Direct (42%) -Commercial (12%) -Property (4%) Progressive's results from [----] - [----] are unbelievable when compared against their results (THE SAME COMPANY) from [----] [-----]. A Cambrian explosion within the country's third largest automobile insurer - What explains this phenomenon - Will it persist - Why $PGR https://t.co/dMBZCtVDQv Progressive's results from [----] - [----] are unbelievable when compared against"  
[X Link](https://x.com/bizalmanac/status/1320804035729960960)  2020-10-26T19:06Z [----] followers, [--] engagements


"Looking at this group through EV / TTM Sales -$PGR's EV / S in blue has trended between 1.0x-1.5x over [--] years similar to $AIG and $EIG - $ACGL $ESGR and $RLI receive premium valuations -While $RGA and $UIHC trade cheaper than 1x TTM Sales http://snt.io/HkFjqaiQU I quite like ACGL's metric Total Value Created ("TVC") TVC = Increases in book value + dividends paid Below are the top [--] U.S. listed P&C insurers in terms of TVC/Shr. CAGR over the last decade TVC ignores valuation and the compounding benefits from reinvesting dividends https://t.co/ERPCkqZRFD http://snt.io/HkFjqaiQU I quite like"  
[X Link](https://x.com/bizalmanac/status/1321178980553269249)  2020-10-27T19:56Z [----] followers, [--] engagements


"Progressive $PGR pays Quinstreet $QNST $100mm per year for search engine optimization"  
[X Link](https://x.com/bizalmanac/status/1321979762110332928)  2020-10-30T00:58Z [----] followers, [--] engagements


"A simple model of $PGR earnings and EPS one and three years out from now -Worst y/y sales growth since [----] was -3% -PGR has written at a 91.5% CR since [----] so 93.5% is conservative -25% tax rate in 3Yr is a conservative guess (no pun intended) Comments / criticisms welcome $PGR breaks down their sales called Net Premiums Earned into volume called Policies in Force and price called Premiums per Policy across their four segments; -Agency (42% of [----] sales) -Direct (42%) -Commercial (12%) -Property (4%) https://t.co/hsLQLg5MyO $PGR breaks down their sales called Net Premiums Earned into"  
[X Link](https://x.com/bizalmanac/status/1322230510450626560)  2020-10-30T17:34Z [----] followers, [--] engagements


"Since converting from a mutual to a corporation in [----] Progressive has been lead by only three CEOs: Peter Lewis - [----] - [----] Glenn Renwick - [----] - [----] Tricia Griffith - [----] - Present $PGR"  
[X Link](https://x.com/bizalmanac/status/1322990348369596416)  2020-11-01T19:54Z [----] followers, [--] engagements


"$BSY results very steady; -HSD sales growth -HSD net dollar expansion -Mid 30s EBITDA margin -Stock trades a little more expensive than Id like -Need to check on their pace of SBC"  
[X Link](https://x.com/bizalmanac/status/1326144945271566336)  2020-11-10T12:49Z [----] followers, [--] engagements


"-Progressive introduced usage based insurance in [----] and so has a [--] year head start against $ROOT -Among homeowner's and renter's insurance carriers PGR is the largest by online direct quotes $LMND's sole business line From $PGR earnings call 8/5/2020"  
[X Link](https://x.com/bizalmanac/status/1326901126021705730)  2020-11-12T14:54Z [----] followers, [--] engagements


"You know business is good when you rebate 10% of your sales to keep margins reasonable $PGR returned $1B to their policy holders in [----] Q2 increasing their combined ratio by 10%"  
[X Link](https://x.com/bizalmanac/status/1326966682166980609)  2020-11-12T19:14Z [----] followers, [--] engagements


"$LMT new CEO James Taiclets elevator pitch on Lockheed -🧨Leading defense company in the world based on innovation current capabilities -National Asset -💻Wants to bridge to technology and telco industries -🐝buzzwords: 5G AI edge computing"  
[X Link](https://x.com/bizalmanac/status/1327031451628474369)  2020-11-12T23:32Z [----] followers, [--] engagements


"$GNRC stock up 4x last year Easy to see what market loves 25x EV / NTM EBITDA currently"  
[X Link](https://x.com/bizalmanac/status/1328624463873794048)  2020-11-17T09:02Z [----] followers, [--] engagements


"$ENTG investor day deck released today was great. Thesis is picks and shovels to industry with secular growth If you want semi exposure; why choose ENTG over AMAT LRCX similarly essential but 1/2 3/5 of valuation Or ENTG over CDNS 15% pricier but better business"  
[X Link](https://x.com/bizalmanac/status/1328815732830982145)  2020-11-17T21:42Z [----] followers, [--] engagements


"In the year ending 12/31/2016 Cadence $CDNS spent $1B 13.5% of their then $7.4B market cap buying back their own shares -EV / TTM EBITDA at repurchase 12x -EV / TTM EBITDA now 32x -Buyback total return of 267% / CAGR of 27.7% Solid work -"  
[X Link](https://x.com/bizalmanac/status/1330636979160100868)  2020-11-22T22:19Z [----] followers, [--] engagements


"Id like to own Blackline $BL someday"  
[X Link](https://x.com/bizalmanac/status/1330702864180785152)  2020-11-23T02:41Z [----] followers, [--] engagements


"Highlights from Intuits $INTU investor day 9/22/20 Reminds me of ADBE mature software biz growth and margins dominates end markets transitioned to cloud well I dont trust TurboTax durability nor do I like Credit Karma Mint acq. Would love to own Quickbooks standalone"  
[X Link](https://x.com/bizalmanac/status/1331079029257068544)  2020-11-24T03:35Z [----] followers, [--] engagements


"Progressive $PGR October [----] results out they report monthly -Sales of 11% running higher than my base case of 8% -Direct sales +13% very strong -CR of [----] running worse than my base case of [----] -Property even at only 4% of Company wide sales worsened CR by 100bps Progressive by @bizalmanac https://t.co/a8aP2MmnpE Progressive by @bizalmanac https://t.co/a8aP2MmnpE"  
[X Link](https://x.com/bizalmanac/status/1331300504694099973)  2020-11-24T18:15Z [----] followers, [--] engagements


"- Jordan Belfort The Wolf of Wall Street - Gus Frain Owner of Los Pollos Hermanos $METH - King TChalla Black Panther and King of Wakanda - Yoda Jedi Master - Wade Watts Lead owner of Gregarious Games $GG Who would be your ideal board of director Fictional characters only Some nominees: -Dumbledore -Bruce Wayne -Bobby Axelrod -Howard Roark Who would be your ideal board of director Fictional characters only Some nominees: -Dumbledore -Bruce Wayne -Bobby Axelrod -Howard Roark"  
[X Link](https://x.com/bizalmanac/status/1336616035659751425)  2020-12-09T10:17Z [----] followers, [--] engagements


"$SLP stays using MS Office [--] Simulations Plus $SLP: The 90s called. They want their graphics back https://t.co/FyMrgcW3qP Simulations Plus $SLP: The 90s called. They want their graphics back https://t.co/FyMrgcW3qP"  
[X Link](https://x.com/bizalmanac/status/1338981499031449600)  2020-12-15T22:57Z [----] followers, [--] engagements


"$MSCI -A tax on passive investing -Valuable brand and IP -A+ Leadership -A+ Capital Allocation Justifies an expensive multiple The active to passive migration continues: H/t @ISABELNET_SA https://t.co/nqZmCYyVpz The active to passive migration continues: H/t @ISABELNET_SA https://t.co/nqZmCYyVpz"  
[X Link](https://x.com/bizalmanac/status/1343538819690336256)  2020-12-28T12:46Z [----] followers, [--] engagements


"@BillBrewsterSCG What do you hope to achieve investing Quantitively and qualitatively"  
[X Link](https://x.com/bizalmanac/status/1345224253071908866)  2021-01-02T04:23Z [----] followers, [--] engagements


"Im half-way through @TheAmericansFX for my second time. Its gripping. Dynamic characters intricate plot rich time period settings. Great use of time before youre vaccinated. Does $DIS own these rights after their purchase of $FOXA assets"  
[X Link](https://x.com/bizalmanac/status/1346598713473572865)  2021-01-05T23:25Z [----] followers, [--] engagements


"Seconded. Why is $SSNC so cheap despite excellent competitive position and strong results"  
[X Link](https://x.com/bizalmanac/status/1346901413151072256)  2021-01-06T19:28Z [----] followers, [--] engagements


"Two commentaries on adv. spend during a U.S. federal election quarter: 1) from $TWTR [----] Q3 Letter on left; public company CFO managing expectations 2) from @InvestLikeBest Founders Field Guide #15 on right; 3P seller describing how adv. spend during elections distorts markets"  
[X Link](https://x.com/bizalmanac/status/1349383662542925824)  2021-01-13T15:51Z [----] followers, [--] engagements


"Whats the bear case for $UNP Does anybody out there prefer other railroad businesses - $CNI - $CP - $CSX Probably my favorite chart in investing lol https://t.co/bJN1LM37H9 Probably my favorite chart in investing lol https://t.co/bJN1LM37H9"  
[X Link](https://x.com/bizalmanac/status/1352317108248604677)  2021-01-21T18:08Z [----] followers, [--] engagements


"Which is a better business and why -HEICO $HEI.B - Transdigm $TDG ✈ 💺🛩"  
[X Link](https://x.com/bizalmanac/status/1352441395588583425)  2021-01-22T02:22Z [----] followers, [--] engagements


"A @cleveland basket over the past few decades would have worked well; -Progressive $PGR -Sherwin Williams $SHW -Transdigm $TDG"  
[X Link](https://x.com/bizalmanac/status/1352686705359396865)  2021-01-22T18:36Z [----] followers, [--] engagements


"@YHamiltonBlog @Cleveland and $ECL"  
[X Link](https://x.com/bizalmanac/status/1352700519505154053)  2021-01-22T19:31Z [----] followers, [--] engagements


"$TTWO CEO Zelnick on their M&A framework and track record From MKM conference 12/15/2020 TTWO bid $870mm for @Codemasters but lost the deal to $EA who bid $1200 in late [----] 87.4% of sales from only five franchises This cuts both ways. Marvels MCU has shown how well popular IP can be monetized regularly But also; if a major TTWO release was poorly received ala Cyberpunk [----] The Companys results and stock price would both suffer 87.4% of sales from only five franchises This cuts both ways. Marvels MCU has shown how well popular IP can be monetized regularly But also; if a major TTWO release"  
[X Link](https://x.com/bizalmanac/status/1354138802172928004)  2021-01-26T18:47Z [----] followers, [--] engagements


"Two of my favorites $TTWO x 🐍 If you are bullish on gaming NBA and to a lesser extent $WWE Take-Twos 2k studio is great exposure"  
[X Link](https://x.com/bizalmanac/status/1365682985996083206)  2021-02-27T15:19Z [----] followers, [--] engagements


"The two data moats I cant help but love and own are: - Progressive $PGR 🚙 - Spotify $SPOT 🔊 In both cases the data advantages entrenches their competitive advantages @LennyIce Marc A not historically fond of data moats - good interview I need to dig up @LennyIce Marc A not historically fond of data moats - good interview I need to dig up"  
[X Link](https://x.com/bizalmanac/status/1378363079746969601)  2021-04-03T15:05Z [----] followers, [--] engagements


"Buy SiriusXM $SIRI $LSXMA $LSXMK cc: @maffei_fake @gregmaffei @eldsjal @MylesDanielsen @Post_Market @bizalmanac How would you all want to see SPOT continue to increase moat or own more of content stack over the next [--] years It feels like the path thus far on content acq has been smart but fairly down the middle of the road strategy wise with a lot of *seemingly* interesting adjacencies. @MylesDanielsen @Post_Market @bizalmanac How would you all want to see SPOT continue to increase moat or own more of content stack over the next [--] years It feels like the path thus far on content acq has been"  
[X Link](https://x.com/bizalmanac/status/1378370835480633348)  2021-04-03T15:36Z [----] followers, [--] engagements


"UnitedHealth Group $UNH has crushed it's health insurance peers during two separate market regimes. Data from 2001-2016 below. with a [----] reset back to parity in between What is UNH doing differently than it's peers https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7193228/ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7193228/"  
[X Link](https://x.com/bizalmanac/status/1392810767330725897)  2021-05-13T11:55Z [----] followers, [--] engagements


"Looking at some business metrics (ignoring balance sheet and capital allocation for now) -UNH's EBITDA margin stands out +300bps vs. median indicating benefits to scale - Besides CI which is mostly a PBM UNH has the lowest mix of premiums / revenue reflecting Optum segments UnitedHealth Group $UNH has crushed it's health insurance peers during two separate market regimes. Data from 2001-2016 below. with a [----] reset back to parity in between What is UNH doing differently than it's peers https://t.co/SbNiQDjsdO https://t.co/kQOpHVswrX UnitedHealth Group $UNH has crushed it's health insurance"  
[X Link](https://x.com/bizalmanac/status/1393190848054038534)  2021-05-14T13:05Z [----] followers, [--] engagements


"Each of UnitedHealth's $UNH covered lives are worth more than double those of their peers $8k vs. $1.5-$4k Two reasons why: (1) Better mix over half of covered lives are commercial payers (2) Value ascribed to their vertical integration efforts through Optum"  
[X Link](https://x.com/bizalmanac/status/1395357506449330180)  2021-05-20T12:35Z [----] followers, [--] engagements


"CHOOSE YOUR FIGHTER: $LMND or $PGR"  
[X Link](https://x.com/bizalmanac/status/1395745494664634370)  2021-05-21T14:17Z [----] followers, [--] engagements


"Health care IT is coming back $IQV"  
[X Link](https://x.com/bizalmanac/status/1395923646556803072)  2021-05-22T02:05Z [----] followers, [--] engagements


"@SouthernValue95 David Zapico at Ametek $AME Im guessing youve spent some time on it any opinions"  
[X Link](https://x.com/bizalmanac/status/1396215728718716931)  2021-05-22T21:25Z [----] followers, [--] engagements


"On the other hand Hims and Hers $HIMS actually expanded their gross margin by from 29% in [----] to 74% in [----] Is that level of profitability normal for generic drugs File under SPAC mergers with aggressive investor presentations Butterfly Networks $BFLY projects: - 65% revenue CAGR through [----] - Gross margin expansion of at least 68000bps from NM to 68% https://t.co/Ueoh55YpC4 File under SPAC mergers with aggressive investor presentations Butterfly Networks $BFLY projects: - 65% revenue CAGR through [----] - Gross margin expansion of at least 68000bps from NM to 68% https://t.co/Ueoh55YpC4"  
[X Link](https://x.com/bizalmanac/status/1398726398345371653)  2021-05-29T19:42Z [----] followers, [--] engagements


"$PLAY is awesome for this"  
[X Link](https://x.com/bizalmanac/status/1399089328501014531)  2021-05-30T19:44Z [----] followers, [--] engagements


"The story of Take-Two $TTWO is the story of Strauss Zelnick and of Grand Theft Auto Zelnick left Crystal Dynamics after only a year to lead media conglomerate BMG's North American businesses Following Zelnick's suggestion BMG incubated a video game division in [----] "Our goal is to elevate this video game experience to a new playing level that makes the users feel that they are truly a part of the action" - Strauss Zelnick [----] after resigning as head of Fox Films to become CEO of Crystal Dynamics aged [--] https://t.co/shPRHs5Ahr "Our goal is to elevate this video game experience to a new"  
[X Link](https://x.com/bizalmanac/status/1403781439246712834)  2021-06-12T18:29Z [----] followers, [--] engagements


"TL;DR $MSCI et. al. decide which businesses benefit from cheap capital via inclusion in their indices MSCI has a monopoly on international and emerging markets indices "Today index providers have such a central position in international finance . that it begs the question to what extent they have become functional equivalents of the Bretton Woods institutions." Few more powerful institutions than $MSCI $SPGI $LSEG. "Today index providers have such a central position in international finance . that it begs the question to what extent they have become functional equivalents of the Bretton Woods"  
[X Link](https://x.com/bizalmanac/status/1406326311627411456)  2021-06-19T19:01Z [----] followers, [--] engagements


"$TTWO issued three convertible bonds in the early 2010s The last being $260mm of 1.0% converts in 06/2013 which they settled in 12/2017 by issuing 12.1mm shares increasing shares out by 10% and eschewing the option to settle in cash much to the chagrin of current owners Moving down a line on the P&L $TTWO digital sales have grown from 15.8% in FY14 to 86.6% in [----] but gross margins have not benefitted one for one implying increasing COGS elsewhere. Likely developers / designers https://t.co/1ZmVlau6LE Moving down a line on the P&L $TTWO digital sales have grown from 15.8% in FY14 to 86.6% in"  
[X Link](https://x.com/bizalmanac/status/1406647621335367681)  2021-06-20T16:18Z [----] followers, [--] engagements


"Iteris $ITI caught my eye thanks to @FiduciaInvest CEO from Roper $ROP and Chairman @TonyT2Thomas of @USArmy @Lux_Capital and @InvestLikeBest fame In an alternative (or future universe) it would catch a bid from inclusion in the @joincolossus investable index"  
[X Link](https://x.com/bizalmanac/status/1407481173421481986)  2021-06-22T23:30Z [----] followers, [--] engagements


"Another type of non-founder CEO that I love are ***LIFERS*** Their experience provide rich relationships deep understanding and sometimes phenomenal returns Two of my fav. lifer-led businesses are - Tricia Griffith CEO of Progressive $PGR - Henry Fernandez CEO of $MSCI CEO's of two of my favorite businesses are both professional investors who have delivered phenomenal returns to shareholders over the past decade: - Lip-Bu Tan of Cadence $CDNS 29.2% CAGR - Strauss Zelnick of Take-Two $TTWO 27.1% CAGR https://t.co/YCnsagGxZX CEO's of two of my favorite businesses are both professional investors"  
[X Link](https://x.com/bizalmanac/status/1408260263376297984)  2021-06-25T03:06Z [----] followers, [--] engagements


"More customers for Cadence $CDNS"  
[X Link](https://x.com/bizalmanac/status/1412196174841495555)  2021-07-05T23:46Z [----] followers, [--] engagements


"Zelnick became CEO of $TTWO on 1/31/2011 four years after being named Chairman following the successful proxy fight Here's how I grade his first [--] years as CEO. A few items of note: - Cash. I show total cash balances below 27.8% CAGR 15.8% of market cap. currently (1/3) Still have to pinch myself reading how GTA and Strauss Zelnick came full circle https://t.co/oo6EEoqGnz https://t.co/bj7ocKRaCw Still have to pinch myself reading how GTA and Strauss Zelnick came full circle https://t.co/oo6EEoqGnz https://t.co/bj7ocKRaCw"  
[X Link](https://x.com/bizalmanac/status/1413120286665461764)  2021-07-08T12:58Z [----] followers, [--] engagements


"Whos shorting McCormick $MKC"  
[X Link](https://x.com/bizalmanac/status/1415095170312417293)  2021-07-13T23:45Z [----] followers, [--] engagements


"More customers for $CDNS $GOOG New Pixel Phones Features a Processor Designed In-House https://t.co/OYO2ovJy6s $GOOG New Pixel Phones Features a Processor Designed In-House https://t.co/OYO2ovJy6s"  
[X Link](https://x.com/bizalmanac/status/1422521444882391055)  2021-08-03T11:35Z [----] followers, [--] engagements


"Ametek $AME keeps doing their thing rolling up high margin industrial businesses ✈🔬🏭 - $1.8B deployed across [--] deals in [----] - $10B deployed since [----] - Chairman and CEO David Zapico has a [--] year tenure a lifer Curious whether anybody else has opinions about Ametek"  
[X Link](https://x.com/bizalmanac/status/1425394862959079424)  2021-08-11T09:53Z [----] followers, [--] engagements


"$ODFL is eating the LTL market 🚛🚛🚛"  
[X Link](https://x.com/bizalmanac/status/1426354446225784833)  2021-08-14T01:26Z [----] followers, [--] engagements


"$TXN pulling a $NKE rapidly converting their revenues into DTC e-commerce A few highlights $TXN https://t.co/XH7cwXuq9Z A few highlights $TXN https://t.co/XH7cwXuq9Z"  
[X Link](https://x.com/bizalmanac/status/1430003329816535044)  2021-08-24T03:05Z [----] followers, [--] engagements


"Blue text are new names; a few notes - $GOOG - I used to be very concerned about their capital allocation but much less so recently $RBLX - h/t @FrancoOlivera $TI - Swooning over this one still early in my research but leaning towards initiating a 5% position (7/12)"  
[X Link](https://x.com/bizalmanac/status/1430157284328493063)  2021-08-24T13:17Z [----] followers, [--] engagements


"$TOITF - Thanks for the dividend Mark Leonard and Fintwit for mooning 🚀 $LEAT - h/t @Finding_Moats $CRWD - h/t @2ChaseGreatness $Z - h/t @buccocapital $LSPD - This one is really calling out to me. Have done no work and know nothing atm $EXXRF - @ohcapideas (8/12)"  
[X Link](https://x.com/bizalmanac/status/1430157285775618050)  2021-08-24T13:17Z [----] followers, [--] engagements


"**Massively** understated b/c they didnt adjust for the $CSGP 10/1 split But pleased to see $ANDY +50% LTM Thanks for sharing @bizalmanac Made a finviz 100k portfolio last time you posted a similar list which looks like it had a few more names but here is the performance since sept [----]. Lot of good names. https://t.co/PbLYh5vpTu @bizalmanac Made a finviz 100k portfolio last time you posted a similar list which looks like it had a few more names but here is the performance since sept [----]. Lot of good names. https://t.co/PbLYh5vpTu"  
[X Link](https://x.com/bizalmanac/status/1430251540640579589)  2021-08-24T19:31Z [----] followers, [--] engagements


"Announcing the 'AVs are Many Decades Away High Quality Basket' $CPRT $PGR $TXN"  
[X Link](https://x.com/bizalmanac/status/1430588626048626706)  2021-08-25T17:51Z [----] followers, [--] engagements


"$TTWO Cool idea from McMurtrie's latest podcast appearance that I haven't really seen before. Seems like most discussion is centered around either high-quality companies or certified shitcos and not a whole lot in between. https://t.co/RWTMJnP3CJ Cool idea from McMurtrie's latest podcast appearance that I haven't really seen before. Seems like most discussion is centered around either high-quality companies or certified shitcos and not a whole lot in between. https://t.co/RWTMJnP3CJ"  
[X Link](https://x.com/bizalmanac/status/1433119482067759108)  2021-09-01T17:28Z [----] followers, [--] engagements


"I'm proud to announce: #HOUSEOFSTRAUSS as the official hashtag for the $TTWO bull gang @cap_zay just outed himself. Hell yes @Evergreen_Cap way in on TTWO @10_ch_10 in charge of our strong Scandinavian cohort Take-Two: Chapter Three by @bizalmanac https://t.co/Prh2E86hqq Take-Two: Chapter Three by @bizalmanac https://t.co/Prh2E86hqq"  
[X Link](https://x.com/bizalmanac/status/1433898756173402118)  2021-09-03T21:04Z [----] followers, [--] engagements


"Best part of fintwit for me is the idea sharing I share TTWO and in the process have learned quite a bit about Embracer Group $EMBRAC Remedy Games $REMEDY See below Scandinavian #fintwit is very strong just like their capital markets"  
[X Link](https://x.com/bizalmanac/status/1434266670378409984)  2021-09-04T21:26Z [----] followers, [--] engagements


"Epic's publishing deal with video game studios is fantastic for the developers; Epic covers 100% of development and G&A costs while sharing at least 50% of remaining profits with the studios Three initial partners announced in 2020: - @genDESIGN_Inc - @playdead - @remedygames"  
[X Link](https://x.com/bizalmanac/status/1434546047465005064)  2021-09-05T15:56Z [----] followers, [--] engagements


"$TCEHY $REMEDY https://gamerant.com/remedy-epic-games-collaboration/ https://gamerant.com/remedy-epic-games-collaboration/"  
[X Link](https://x.com/bizalmanac/status/1434546049838985220)  2021-09-05T15:56Z [----] followers, [--] engagements


"I continue to love @TiernanRayTech Technology Letter email where he covers software and semis Most recent recap of $ASML investor day included ASML flops: You cant crank up boutique product // $ASML $INTC $AMAT $LRCX $KLAC // https://t.co/mdPGBPezF4 https://t.co/STvQ7H7E9z ASML flops: You cant crank up boutique product // $ASML $INTC $AMAT $LRCX $KLAC // https://t.co/mdPGBPezF4 https://t.co/STvQ7H7E9z"  
[X Link](https://x.com/bizalmanac/status/1444233467668144128)  2021-10-02T09:31Z [----] followers, [--] engagements


"Me cleaning up the #HouseofStrauss before Artie @buccocapital joins $TTWO"  
[X Link](https://x.com/bizalmanac/status/1447311629746638856)  2021-10-10T21:22Z [----] followers, [--] engagements


"$TTWO front and center on #fintwit @BuffaloBills playing SNF But my boy @Evergreen_Capital nowhere to be found 😢😢😢"  
[X Link](https://x.com/bizalmanac/status/1447318585542684674)  2021-10-10T21:50Z [----] followers, [--] engagements


"Another new resident in the #HouseofStrauss @PandaValue distills the thesis and quantifies the opportunity for $TTWO wonderfully Welcome 🐼🍻 Panda Value is long $TTWO. With it I meet my yearly goal of investing in a high-quality undervalued compounder Panda Value is long $TTWO. With it I meet my yearly goal of investing in a high-quality undervalued compounder"  
[X Link](https://x.com/bizalmanac/status/1447736285205078022)  2021-10-12T01:30Z [----] followers, [--] engagements


"Not listed but $TTWO reports after the close on Wednesday 11/3 Expecting more delayed releases and subsequent muted guidance Would applaud share buybacks as stock was cheap throughout the quarter ended 9/30 #HouseofStrauss #earnings for the week https://t.co/lObOE0dgsr $SQ $PFE $ROKU $MRNA $PINS $ON $DKNG $UBER $COIN $APPS $QCOM $CRSR $PENN $SKLZ $PCG $CVS $TRVG $CRNT $ABNB $ATVI $MRO $MELI $DVN $FANG $BP $PTON $CGC $VIAC $AMG $FSLY $UAA $EPD $ET $NET $AKTS $ZG $GNRC $ALX $CNA $TMUS $SKC $RIG https://t.co/exLnjwzA7C #earnings for the week https://t.co/lObOE0dgsr $SQ $PFE $ROKU $MRNA $PINS $ON"  
[X Link](https://x.com/bizalmanac/status/1454416665060462595)  2021-10-30T11:55Z [----] followers, [--] engagements


"I subscribe to all my stocks IR email alerts As well as many healthcare companies for my day job Crazy that only Davita $DVA among them all allows this level of customization. NO MORE FORM4S"  
[X Link](https://x.com/bizalmanac/status/1455308287063302151)  2021-11-01T22:58Z [----] followers, [--] engagements


"Any Watsco $WSO write ups floating around Thank you in advance"  
[X Link](https://x.com/bizalmanac/status/1457144401080238086)  2021-11-07T00:34Z [----] followers, [--] engagements


"Yiiiikes $TTWO #HouseofStrauss $ttwo GTA Trilogy Definitive Edition is a mess https://t.co/HJnfnbbXvl $ttwo GTA Trilogy Definitive Edition is a mess https://t.co/HJnfnbbXvl"  
[X Link](https://x.com/bizalmanac/status/1459627074012991498)  2021-11-13T20:59Z [----] followers, [--] engagements


"If you / your firm use $MSCI in any way and youre comfortable sharing details including pricing Id be most grateful 📩 DMs open as usual"  
[X Link](https://x.com/bizalmanac/status/1460363028864671746)  2021-11-15T21:44Z [----] followers, [--] engagements


"@buccocapital @PreparedRemarks @Post_Market @viggy_krishnan @bgurley $DOCU"  
[X Link](https://x.com/bizalmanac/status/1462595637938049025)  2021-11-22T01:35Z [----] followers, [--] engagements


"Starting to spread the numbers on $ODFL a business I own but have never written up. Below are operating metrics from [----] - [----]. These are the components of their revenue; a key variable in the 'fundamental equation of their business' as @patrick_oshag says (1/2)"  
[X Link](https://x.com/bizalmanac/status/1468428229513936898)  2021-12-08T03:52Z [----] followers, [--] engagements


"Goals for [----] are: - Trade less even though these are in non-taxed retirement accounts - Generate 15% returns - Widen my circle of competence - Invest in smaller businesses - Share a few write-ups on my @SubstackInc (12/12) Happy New Years"  
[X Link](https://x.com/bizalmanac/status/1476044984323231748)  2021-12-29T04:18Z [----] followers, [--] engagements


"Some scratch math on $PGR - NTM topline growth of +10% - Assumed CR of [--] Both could be too conservative 2% investment returns Leaves stock trading 23.9x NTM P/E"  
[X Link](https://x.com/bizalmanac/status/1480777478373138433)  2022-01-11T05:43Z [----] followers, [--] engagements


"Costar's $CSGP P&L with revs by business unit for FY21 I group the top two together and assume about 50% EBIT margins like $SPGI implying all the marketplaces generate no EBIT If you value Costar + IS at 25x EBIT the rest of the business lines are trading at 10x sales"  
[X Link](https://x.com/bizalmanac/status/1503928983779377154)  2022-03-16T02:59Z [----] followers, [--] engagements


"Updated $ODFL headcount stats through FY2021. Of note +16.7% drivers y/y in a super tight labor market + 37.7% platforms emp. y/y these are their service center employees who make the magic happen I guess those growth rates are tops in the LTL industry 🚛🚛🚛"  
[X Link](https://x.com/bizalmanac/status/1504969502211002368)  2022-03-18T23:54Z [----] followers, [--] engagements


"This could be an @InnocenceCapit1 @ToddWenning example People think $ODFL is a trucking company But its really a network of owned and expertly operated warehouses @youngbloodcap PGR done when AV is mainstream. Think that needs tech regulatory blessing and significant infrastructure to support self serving cars ODFL people will say is threatened by self driving trucks. But their moat is in the network of service centers that are expertly operated @youngbloodcap PGR done when AV is mainstream. Think that needs tech regulatory blessing and significant infrastructure to support self serving cars"  
[X Link](https://x.com/bizalmanac/status/1506847319513198592)  2022-03-24T04:16Z [----] followers, [--] engagements


"Some context on the expertly operated comment above from their investor deck $ODFL https://d1io3yog0oux5.cloudfront.net/_c8cba56fe901265c62e5539a01f2f482/odfl/db/354/2809/pdf/3Q2021_December.pdf https://d1io3yog0oux5.cloudfront.net/_c8cba56fe901265c62e5539a01f2f482/odfl/db/354/2809/pdf/3Q2021_December.pdf"  
[X Link](https://x.com/bizalmanac/status/1506850528135086081)  2022-03-24T04:28Z [----] followers, [--] engagements


"From @StackInvesting 3/23/22 $SNOW update "a few years ago investors.considered AWS.(a) competitive threats to independent software providers.Fast forward to today.AWS in particular (is) embracing independent providers" $AMZN $MSFT $GOOG $SNOW $DDOG $MDB $CRWD"  
[X Link](https://x.com/bizalmanac/status/1507133118431391744)  2022-03-24T23:11Z [----] followers, [--] engagements


"Business as usual for Cadence $CDNS in their first quarter of [----] - Revenue of $902mm +22.5% y/y - GAAP EBIT margin of 35% vs. 28% Q1'21 (1/3) https://www.cadence.com/content/dam/cadence-www/global/en_US/documents/company/investors/1q22-cfo-commentary.pdf https://www.cadence.com/content/dam/cadence-www/global/en_US/documents/company/investors/1q22-cfo-commentary.pdf"  
[X Link](https://x.com/bizalmanac/status/1519059566712868864)  2022-04-26T21:03Z [----] followers, [--] engagements


"$APO 10x TTM earnings @patrick_oshag Apollo $APO down 36% from ATH reached in Q4 [----]. Trading for 10x TTM earnings per share A surprisingly low multipe for an industry leading asset management and annuities business that will do will with rising and volatile interest rates @patrick_oshag Apollo $APO down 36% from ATH reached in Q4 [----]. Trading for 10x TTM earnings per share A surprisingly low multipe for an industry leading asset management and annuities business that will do will with rising and volatile interest rates"  
[X Link](https://x.com/bizalmanac/status/1524548809795067904)  2022-05-12T00:35Z [----] followers, [--] engagements


"Gap brands ranked: [--]. Old Navy [--]. Athleta [--]. Intermix [--]. Banana Republic [--]. Gap $GPS"  
[X Link](https://x.com/bizalmanac/status/1524563213647421440)  2022-05-12T01:32Z [----] followers, [--] engagements


"$CFA @ $KR ✝The Lord may be resting but we were grocery shopping 🛒"  
[X Link](https://x.com/bizalmanac/status/1525926685123543040)  2022-05-15T19:50Z [----] followers, [--] engagements


"Burford purchased Gerchen Keller Capital (GKC) on December 14th [----]. At the time GKC was the largest manager of litigation finance investment vehicles. [--] years later we can deem Burfords acquisition of GKC a disappointment at best (1/7)"  
[X Link](https://x.com/bizalmanac/status/1526953194844131328)  2022-05-18T15:49Z [----] followers, [--] engagements


"Thank you for clarifying Jeff $TTD"  
[X Link](https://x.com/bizalmanac/status/1529890483954077696)  2022-05-26T18:21Z [----] followers, [--] engagements


"I decided to run the numbers; ROIIC calculated as (Next year's OCF - prior year OCF) / Investment = 100%*R&D + capex + cash acq. 100% R&D probably overstated and so favors SNPS Results are from last [--] FYs and are **very** time period dependent $CDNS $SPNS @FoolAllTheTime @ParanoidAnalyst @dylan522p Hes a little too pro cdns. Gotta give love to both @FoolAllTheTime @ParanoidAnalyst @dylan522p Hes a little too pro cdns. Gotta give love to both"  
[X Link](https://x.com/bizalmanac/status/1530959164754694144)  2022-05-29T17:08Z [----] followers, [--] engagements


"Selected [----] gross fundraising totals by asset class and geography from McKinsey's [----] Global Private Market's Review as well as [----] gross fundraisings from - $BX private equity and real estate segments - $HLNE company wide - $PX company wide (1/2)"  
[X Link](https://x.com/bizalmanac/status/1534922579168768000)  2022-06-09T15:37Z [----] followers, [--] engagements


"TIL Zephyr Enerhy $ZPHRF an OTC listed Utah based fracking business uses their excess gas to cool a $BTC mine they own and operate on-site Very [----] action @capitalemployed one of my favorite stonk podcasts https://open.spotify.com/episode/3o6eZX4TRV98pRSM6nI9S2si=e6INkGhDQiWPHM3ObD5m5w https://open.spotify.com/episode/3o6eZX4TRV98pRSM6nI9S2si=e6INkGhDQiWPHM3ObD5m5w"  
[X Link](https://x.com/bizalmanac/status/1537556010621014016)  2022-06-16T22:01Z [----] followers, [--] engagements


"Our 7mo. $UHAL journey. TL;DR an amazing all-in-one moving and storage biz. (1) Rent three pods load all our stuff in Boston they are delivered to Scottsdale (2) Unload 1/2 the contents into our townhouse rental the other 1/2 into a storage unit we rented from UHAL (1/4)"  
[X Link](https://x.com/bizalmanac/status/1538365746073378816)  2022-06-19T03:39Z [----] followers, [--] engagements


"(4) Rent equipment and hire help again through MH to move from townhouse to new house All the UHAL equipment rentals are done via app. contactless. Lots of ancillary revenues streams; insurance accessories late fees gas etc. (3/4)"  
[X Link](https://x.com/bizalmanac/status/1538365748573130753)  2022-06-19T03:39Z [----] followers, [--] engagements


"In (1) alone we saved 40% compared to the legacy 'van lines'. The total experience was great unexpectedly. Would recommend anybody else moving / storing etc. concentrate their spend with Amerco. Obviously no one is ever moving again but still. @SleepwellCap (4/4)"  
[X Link](https://x.com/bizalmanac/status/1538365749764337664)  2022-06-19T03:39Z [----] followers, [--] engagements


"Here's the denominator effect in action showing private market fundraising by year and as a % of global equity market cap. Fundraising is counter-cyclical to performance ex. money pored into losing vintages pre-GFC but in-sync with global stock valuations to within 100bps"  
[X Link](https://x.com/bizalmanac/status/1541444757250924546)  2022-06-27T15:34Z [----] followers, [--] engagements


"Does anyone follow any real estate focused mutual funds or 13F filers Would greatly appreciate ideas of portfolios to glance through"  
[X Link](https://x.com/bizalmanac/status/1545970861139562496)  2022-07-10T03:19Z [----] followers, [--] engagements


"Only playing around with their Cash Flow Statements Below is the 10Yr. total of incremental CFO; CFOt1 - CFOt0 divided by the sum of prior year capex and acquisition spend less divestiture proceeds 'investment' $ATD.B $CASY $MUSA"  
[X Link](https://x.com/bizalmanac/status/1546685994656641025)  2022-07-12T02:40Z [----] followers, [--] engagements


"Five year results in-line $MUSA as a net seller trouncing it's highly acquisitive peer $ATD and $CASY as a small net buyer"  
[X Link](https://x.com/bizalmanac/status/1546688087400390656)  2022-07-12T02:49Z [----] followers, [--] engagements


"Whats good to stream these days 📺 No comedy 🤡 no horror 👻 Looking for high quality series on $NFLX HBO HULU $AMZN"  
[X Link](https://x.com/bizalmanac/status/1547809167242498048)  2022-07-15T05:03Z [----] followers, [--] engagements


"I have not yet and do not plan to share my full $BRDG thesis Bridge is real estate private equity manager a niche $ALTS if you will that is trading *FAR TOO CHEAPLY* 7.1% annualized dividend yield who just released blow out earnings https://d1io3yog0oux5.cloudfront.net/sec/0001854401-22-000011/0001854401-22-000011.pdf https://d1io3yog0oux5.cloudfront.net/sec/0001854401-22-000011/0001854401-22-000011.pdf"  
[X Link](https://x.com/bizalmanac/status/1556738878580588546)  2022-08-08T20:27Z [----] followers, [--] engagements


"Revisiting some old software ideas I never dug into New AspenTech post their strategic transaction with Emerson Looks interesting $AZPN https://www.emerson.com/en-us/news/corporate/emerson-to-accelerate-software-strategy https://www.emerson.com/en-us/news/corporate/emerson-to-accelerate-software-strategy"  
[X Link](https://x.com/bizalmanac/status/1557164144008339456)  2022-08-10T00:37Z [----] followers, [--] engagements


"$CCCS an interesting one Nearly fully penetrated its TAM. Surprisingly a VMS SPAC w/ Dragoneer as sponsor I try to ultra diversify and not have overlapping exposure unless intentional ($ALTS for example) And with $PGR presumably a CCCS customer same value chain I passed"  
[X Link](https://x.com/bizalmanac/status/1557166348932980736)  2022-08-10T00:46Z [----] followers, [--] engagements


"Why own either $TYL particularly at their valuation or $ROP when you can own $CSU.TO / $CNSWF"  
[X Link](https://x.com/bizalmanac/status/1557167403464794115)  2022-08-10T00:50Z [----] followers, [--] engagements


"$AVID I liked but never nearly enough to own"  
[X Link](https://x.com/bizalmanac/status/1557170811793989632)  2022-08-10T01:03Z [----] followers, [--] engagements


"$NCNO a victim of crazy IPO valuation I remember learning about $JKHY via $CNSWF and $CSVI through $GEOFF Probably only loosely comparably to fast growing (I guess) moved losing $NCNO Cool $CRM tie in"  
[X Link](https://x.com/bizalmanac/status/1557171680228904964)  2022-08-10T01:07Z [----] followers, [--] engagements


"Cement production indexed to [----] 🪨🪨🪨 H/t thebright01 Substack $FRPH $VMC $MLM $BBCP $MECM $BSND https://thebright.substack.com/p/concrete-pumping-holdings-inc-nasdaqutm_medium=email https://thebright.substack.com/p/concrete-pumping-holdings-inc-nasdaqutm_medium=email"  
[X Link](https://x.com/bizalmanac/status/1559685748911226885)  2022-08-16T23:37Z [----] followers, [--] engagements


"If you like $APH youll love $TXN"  
[X Link](https://x.com/bizalmanac/status/1560297846531817473)  2022-08-18T16:09Z [----] followers, [--] engagements


"Finally a $PGR customer"  
[X Link](https://x.com/bizalmanac/status/1562922525675294720)  2022-08-25T21:59Z [----] followers, [--] engagements


"Written $DEC thesis from Emeths H1 [----] letter https://www.emethvaluecapital.com/_files/ugd/b2ee4c_3fd6189e2a71450f962f24f91188aa47.pdf https://www.emethvaluecapital.com/_files/ugd/b2ee4c_3fd6189e2a71450f962f24f91188aa47.pdf"  
[X Link](https://x.com/bizalmanac/status/1563375581013499904)  2022-08-27T03:59Z [----] followers, [--] engagements


"$DEC Outperformance since [----] IPO"  
[X Link](https://x.com/bizalmanac/status/1563728618118791168)  2022-08-28T03:22Z [----] followers, [--] engagements


"A short piece on $BRDG https://open.substack.com/pub/bizalmanac/p/brdg-over-troubled-waterutm_source=direct&r=8h4yu&utm_campaign=post&utm_medium=web https://open.substack.com/pub/bizalmanac/p/brdg-over-troubled-waterutm_source=direct&r=8h4yu&utm_campaign=post&utm_medium=web"  
[X Link](https://x.com/bizalmanac/status/1583091999896313856)  2022-10-20T13:45Z [----] followers, [--] engagements


"Woke up to @LibertyRPF sharing a mashup of one of my favorite video games GTA with one of my favorite movies The Big Lebowski His newsletter is a must if you enjoy learning about neat businesses; $TTD $MSFT $NET $CRWD $ROP $HEI $SNOW and selfishly PAY THAT MAN 🤑🤑🤑"  
[X Link](https://x.com/bizalmanac/status/1584619074184544256)  2022-10-24T18:53Z [----] followers, [--] engagements


"Go with the Flo @joejonas $PGR"  
[X Link](https://x.com/bizalmanac/status/1587146627436855296)  2022-10-31T18:16Z [----] followers, [--] engagements


"CEO and Director Jeffrey Musser has worked at $EXPD since [----]. People post about founder led businesses outperforming (🙋♂) but I hold 'lifers' in as high a regard. Beyond the knowledge the empathy engendered over those decades dictate founder like behavior and decisions"  
[X Link](https://x.com/bizalmanac/status/1594841924183416834)  2022-11-21T23:55Z [----] followers, [--] engagements


"Finally checking out as I dive into $EXPD Website is free but they demand that you tweet about them in order to pull data off the site seems more than fair to me http://ROIC.AI http://ROIC.AI"  
[X Link](https://x.com/bizalmanac/status/1595408892967923712)  2022-11-23T13:28Z [----] followers, [--] engagements


"Not a huge fan of birthdays post [--] but can't help but feel tickled today; - #SpotifyWrapped 🎧 - $APO divvy 🤑 - Wifey baked me my favorite chocolate cake 🎂 - Bulls @ Suns tonight 🏀 Ultimately I'm with Townsend ".I hope I die before I get old""  
[X Link](https://x.com/bizalmanac/status/1598086751460814853)  2022-11-30T22:49Z [----] followers, [--] engagements


"Two factors have explained $CDW's margin expansion from [----] - 2020: 1) Reduced interest expense 2) Reduced SG&A expense as % of sales Gains within #2 have all come from back office efficiencies as sales / customer facing employee have remained flat:"  
[X Link](https://x.com/bizalmanac/status/1600518685281505280)  2022-12-07T15:52Z [----] followers, [--] engagements


"@JerryCap $MUSA - s/o down 10% from 12/31/21 through 9/30/22 - s/o down 52% from 8/30/2013 through 9/30/22 https://bizalmanac.substack.com/p/murphys-law https://bizalmanac.substack.com/p/murphys-law"  
[X Link](https://x.com/bizalmanac/status/1600984918535786496)  2022-12-08T22:45Z [----] followers, [--] engagements


"Solid November for $PGR; 92CR with 3% company wide PIF growth vs. Nov [--]. Has been impressive / thesis validating seeing them turn off growth find probability and now layer growth back on from 21-22 No variable dividend this year https://investors.progressive.com/financials/financial-news-releases/financial-news-release-details/2022/Progressive-Reports-November-2022-Results-and-Provides-Dividend-Information-and-2023-Annual-Meeting-Dates/default.aspx"  
[X Link](https://x.com/bizalmanac/status/1603177780421660672)  2022-12-14T23:59Z [----] followers, [--] engagements


"Can anyone share sell-side or buyside research talking through C-Store fuel margins / store level break-evens $ATD.TO $CASY $MUSA ⛽⛽⛽ DMs open and can email to bizalmanac@gmail.com 📨 Thanks in advance 🙏"  
[X Link](https://x.com/bizalmanac/status/1604981816854597632)  2022-12-19T23:27Z [----] followers, [----] engagements


"@jay_21_ Within my book; $AMZN $APO $CSU.TO/ $CNSWF"  
[X Link](https://x.com/bizalmanac/status/1609718956339908608)  2023-01-02T01:11Z [----] followers, [----] engagements


"Good for Chris Not quite a lifer but [--] years is a long time 💻🖱 $CDW https://investor.cdw.com/news/news-details/2023/CDW-CEO-Christine-Leahy-Appointed-Board-Chair/default.aspx https://investor.cdw.com/news/news-details/2023/CDW-CEO-Christine-Leahy-Appointed-Board-Chair/default.aspx"  
[X Link](https://x.com/bizalmanac/status/1611327494858366976)  2023-01-06T11:43Z [----] followers, [---] engagements


"Great new(ish) newsletter on payments Batch Processing by @jkwade $FIS $GPN $FISV $PYPL $ADYEY $STRIPE $CHECKOUT 💳💸💱 https://open.substack.com/pub/batchprocessing/p/payments-profitabilityr=8h4yu&utm_campaign=post&utm_medium=web https://open.substack.com/pub/batchprocessing/p/payments-profitabilityr=8h4yu&utm_campaign=post&utm_medium=web"  
[X Link](https://x.com/bizalmanac/status/1619811194772283394)  2023-01-29T21:34Z [----] followers, [----] engagements


"EUV is insane $ASML H/t @crmiller1s Chip Wars"  
[X Link](https://x.com/bizalmanac/status/1619932189818486784)  2023-01-30T05:35Z [----] followers, [----] engagements


"Proud to count myself among the class of Mendez v. Avis Budget Group Inc. et al $CAR"  
[X Link](https://x.com/bizalmanac/status/1620205452238938113)  2023-01-30T23:40Z [----] followers, [----] engagements


"After publishing a long write-up exalting Strauss' capital allocation just months prior I sold out of $TTWO immediately as The Company announced their merger with $ZNGA Rough calc' shows $TTWO stock (33.6%) since then. Saved me some money and headache When the facts change. @CCM_Brett Feeling pretty good not HODLing $TTWO @CCM_Brett Feeling pretty good not HODLing $TTWO"  
[X Link](https://x.com/bizalmanac/status/1622792096263585792)  2023-02-07T02:59Z [----] followers, [----] engagements


"(6) Existing positions are the bar new positions have to clear both in terms of quality and expected returns (7) Goal is 15% pa returns by owning 🏯high quality 🌳growing businesses run by uniquely capable 🧑🏭leadership"  
[X Link](https://x.com/bizalmanac/status/1626603067100762115)  2023-02-17T15:22Z [----] followers, [----] engagements


"Nice call out on $PGR possibly reducing [----] reserves to hit their [--] CR target that allows for employee bonuses Did $PGR game its earnings to maximize employee bonuses I hope not but their January results allow people to wonder. 🧵 Did $PGR game its earnings to maximize employee bonuses I hope not but their January results allow people to wonder. 🧵"  
[X Link](https://x.com/bizalmanac/status/1627724561910476800)  2023-02-20T17:39Z [----] followers, [----] engagements


"Will be skiing Park City this wknd if anybody else is on the $MTN and wants to meet up ⛷🚠🏔"  
[X Link](https://x.com/bizalmanac/status/1628957562627584000)  2023-02-24T03:18Z [----] followers, [--] engagements


"Awesome three days of ⛷. Conditions on Friday were 💯 after a dump of ❄ the day before which hardened over the wknd The combined Park City & Canyons is massive a dream for those who tire of the same run(s) but a nightmare for those on the wrong side of the $MTN past 3pm"  
[X Link](https://x.com/bizalmanac/status/1629980172668776448)  2023-02-26T23:02Z [----] followers, [----] engagements


"'Style Glove' is a construct I've tossed around in my head for a while and finally named ala $MORN's style boxes every investor has a style glove; their unique mix of sectors industries businesses geos valuations set-ups that they can hope to profit from (1/2)"  
[X Link](https://x.com/bizalmanac/status/1630768481493991424)  2023-03-01T03:14Z [----] followers, 17.4K engagements


"MS on $SCHW $SCHW FWIW heres $MS take on Schwab price action https://t.co/mcsxAqZlH6 $SCHW FWIW heres $MS take on Schwab price action https://t.co/mcsxAqZlH6"  
[X Link](https://x.com/bizalmanac/status/1634379154643898368)  2023-03-11T02:22Z [----] followers, [----] engagements


"Great piece by @TSOH_Investing comparing GEICO to Progressive $BRK.A $BRK.B $PGR https://open.substack.com/pub/thescienceofhitting/p/geico-the-gecko-stumblesr=8h4yu&utm_medium=ios&utm_campaign=post "Progressive has ran laps around GEICO over the past few years" - @TSOH_Investing https://t.co/JRudkUduys https://t.co/kSTxEM8AmJ https://open.substack.com/pub/thescienceofhitting/p/geico-the-gecko-stumblesr=8h4yu&utm_medium=ios&utm_campaign=post "Progressive has ran laps around GEICO over the past few years" - @TSOH_Investing https://t.co/JRudkUduys https://t.co/kSTxEM8AmJ"  
[X Link](https://x.com/bizalmanac/status/1635497178092433412)  2023-03-14T04:24Z [----] followers, 12.7K engagements


"@BarrySchwartzBW @ErnestWongBWM @TidefallCapital I'll throw out a ticker $BF.B trades for a hair over 30x forward P/E Tough for me to get excited about the stonk however resilient and cleanly managed the biz is"  
[X Link](https://x.com/bizalmanac/status/1638259639736504321)  2023-03-21T19:21Z [----] followers, [---] engagements


"@r33nd3r @InnocenceCapit1 They all would have done better to own $PGR but they're exceptional / an exception"  
[X Link](https://x.com/bizalmanac/status/1639717534927826944)  2023-03-25T19:54Z [----] followers, [---] engagements


"Saturday views $SHAK $ARHS"  
[X Link](https://x.com/bizalmanac/status/1639784492763152385)  2023-03-26T00:21Z [----] followers, [----] engagements


"@kouroshshafi More detail on $WSO + $CARR: https://bizalmanac.substack.com/p/carriers-gift https://bizalmanac.substack.com/p/carriers-gift"  
[X Link](https://x.com/bizalmanac/status/1644917175776604160)  2023-04-09T04:16Z [----] followers, [---] engagements


"Attritional combined ratio excludes catastrophic loses reinstatement premiums prior year developments Covid-19 losses CECL and losses from the Russian / Ukraine war - Everest Re. $RE"  
[X Link](https://x.com/bizalmanac/status/1645265528779603968)  2023-04-10T03:20Z [----] followers, [----] engagements


"Mortgage insurers L5Y CAGRS: - $ACGL +20.6% - $NMIH +9.8% - $RDN +8.6% - $MTG +6.2% - $ESNT +3.5% TL;DR joining $SPY is good Arch compares themselves to other diversified P&C insurers + re. but 85% of their uw profit L5Y was from PMI"  
[X Link](https://x.com/bizalmanac/status/1645455575826976769)  2023-04-10T15:55Z [----] followers, [----] engagements


"@CharlieZvible @AlphaSenseInc @CapitalG Thats awesome Congrats to you and the team CZ 🎉🎉"  
[X Link](https://x.com/bizalmanac/status/1645784013041467393)  2023-04-11T13:41Z [----] followers, [---] engagements


"From W.R. Berkelys 50th anniversary [----] Annual Report $WRB $FIDO"  
[X Link](https://x.com/bizalmanac/status/1648018127240953856)  2023-04-17T17:38Z [----] followers, [----] engagements


"@stonkmetal $CDW Bulls may chime in that CDW is a VAR Bears that they just printed poor earnings. Both right and my answer stands"  
[X Link](https://x.com/bizalmanac/status/1649064829557301248)  2023-04-20T14:57Z [----] followers, [----] engagements


"Great episode from @dylan522p and @_fabknowledge_ unpacking Dylans POV that by not offering cutting edge AI models and tooling AWS will lose share in aaS market $AMZN $AWS $MSFT $GOOG $GOOGL $NVDA https://open.spotify.com/episode/5tGbIcpSFjLWn1s0nRQEQ1si=0JjrJewfTpiPS2J_K9r7ww&dd=1 https://open.spotify.com/episode/5tGbIcpSFjLWn1s0nRQEQ1si=0JjrJewfTpiPS2J_K9r7ww&dd=1"  
[X Link](https://x.com/bizalmanac/status/1649869489947947008)  2023-04-22T20:15Z [----] followers, [----] engagements


"65 Combined Ratio LFG Bloomstran v. Cathy / Tasha PICK YOUR FIGHTOOOOOOR $BRK.A $BRK.B $PGR $TSLA Thats essentially a 35% pretax margin. No clue. These people really need to hire an insurance analyst. Insurance is regulated and prices are approved by state insurance commissions. Profit on equity capital is regulated. Excess profit forces price down on rate applications. 16/ Thats essentially a 35% pretax margin. No clue. These people really need to hire an insurance analyst. Insurance is regulated and prices are approved by state insurance commissions. Profit on equity capital is regulated."  
[X Link](https://x.com/bizalmanac/status/1649924826013011968)  2023-04-22T23:55Z [----] followers, [----] engagements


"Today I shared a shorter write-up "Larger than Large Diving Deeper into Constellation's Complex Acquisitions" a fast-follow to my piece on CSI that I shared a few weeks ago Link below enjoy $CSU.TO $CNSWF $TOI.V $TOITF $LMN.V $LMGIF $SGN.WA Something I've been tinkering with for a few months A Better Combined Ratio - Thoughts on Owning Constellation Software (1/6) https://t.co/4wVlfD26iy Something I've been tinkering with for a few months A Better Combined Ratio - Thoughts on Owning Constellation Software (1/6) https://t.co/4wVlfD26iy"  
[X Link](https://x.com/bizalmanac/status/1656686621868322816)  2023-05-11T15:44Z [----] followers, 18.3K engagements


"@chipperPat $APO"  
[X Link](https://x.com/bizalmanac/status/1659683962338304007)  2023-05-19T22:14Z [----] followers, [--] engagements


""CRE withstands even the deepest recessionary periods.better than major indices. Multifamily.is one of the largest.asset classes and serves as a robust benchmark for the industry. The same principles.applied to all of our strategies." $BRDG [----] Q1 call and deck"  
[X Link](https://x.com/bizalmanac/status/1661973948765024262)  2023-05-26T05:54Z [----] followers, [----] engagements


"@CJ0pp3l It's a quirk one I've thought about often how the few stocks that do spinouts regularly get 'underrated' to the extent their performance calculations don't include the value of spins $IAC Liberty Complex $DHR Constellation now"  
[X Link](https://x.com/bizalmanac/status/1661975339222876160)  2023-05-26T05:59Z [----] followers, [--] engagements


"Easy and fun history of Avago / Broadcom @BenBajarin @jaygoldberg $AVGO https://open.spotify.com/episode/5PcuXQ3TJ2bQWOSAYV2Sfusi=7ap1b23LRs2emvGUH0c9gA https://open.spotify.com/episode/5PcuXQ3TJ2bQWOSAYV2Sfusi=7ap1b23LRs2emvGUH0c9gA"  
[X Link](https://x.com/bizalmanac/status/1667356882204524544)  2023-06-10T02:23Z [----] followers, [----] engagements


"Im a fan of the executive resignations section of the Bear Caves free weekly email. Todays issue included this juicy snippet re. professional board members and their lack of objectivity $DLR @StockJabber"  
[X Link](https://x.com/bizalmanac/status/1667925923524661248)  2023-06-11T16:05Z [----] followers, 12K engagements


"Apollo Co-President Scott Kleinman at MS Conf. 06/14/23: "As far as the credit portfolio goes we.had a dress rehearsal.in March of '20 when we had an opportunity to.dig in crawl through the portfolio. $APO (1/2)"  
[X Link](https://x.com/bizalmanac/status/1669109499872030720)  2023-06-14T22:28Z [----] followers, [--] engagements


"@NestBetter I was pretty surprised how much $ALTS hennick bought in [----] I like this thesis. I like BRDG business better but CIGI far better track record as public company and hennick unmatched as a creator of value"  
[X Link](https://x.com/bizalmanac/status/1669183878962233346)  2023-06-15T03:23Z [----] followers, [---] engagements


"My favorite @bizbreakdowns episodes in a while $FCNCA Bravo @ReustleMatt 🎉 https://open.spotify.com/episode/2vZpI3JgzR64ioqQOkbkeZsi=ky0CQgIRQ-efLyBxpIOH0A https://open.spotify.com/episode/2vZpI3JgzR64ioqQOkbkeZsi=ky0CQgIRQ-efLyBxpIOH0A"  
[X Link](https://x.com/bizalmanac/status/1669562429150486528)  2023-06-16T04:27Z [----] followers, [----] engagements


"@JBierne $WRB. Insane track record profitable but differentiated underwriting impressive investment operation and results big returner of capital"  
[X Link](https://x.com/bizalmanac/status/1670172000831299585)  2023-06-17T20:50Z [----] followers, [---] engagements


"Have turned into a huge $FIVE fan of late Loaded up three summer camp packages to nieces / nephews fresh plane toys for our 21mo old And a few selections from their unrivaled candy section 🧸🎁🍭 @InnocenceCapit1"  
[X Link](https://x.com/bizalmanac/status/1670216808505430017)  2023-06-17T23:48Z [----] followers, [----] engagements


"$SPOT algorithm suggesting similar artists in @pitchfork just released Review Explorer Ive been reading P4K for almost [--] years and am excited to give it a spin 🎧💿🔉"  
[X Link](https://x.com/bizalmanac/status/1670855096601817089)  2023-06-19T18:08Z [----] followers, [---] engagements


"I just published In The Eye of Three Storms explaining why I like Bridge $BRDG as well as forecasting the business and returns through '26 link in my profile to S u b s t a c k The gist of it is that Bridge should have no trouble growing FEAUM nearly 20% annualized. (1/2)"  
[X Link](https://x.com/bizalmanac/status/1671861839326756864)  2023-06-28T10:21Z [----] followers, [----] engagements


"@sinstockpapi Something something something not indicative of future returns"  
[X Link](https://x.com/bizalmanac/status/1674138194558980101)  2023-06-28T19:30Z [----] followers, [--] engagements

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