# ![@returnoncap Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1455157347748306949.png) @returnoncap Return on Cap

Return on Cap posts on X about $mco, $amzn, $fico, $googl the most. They currently have [-----] followers and [----] posts still getting attention that total [------] engagements in the last [--] hours.

### Engagements: [------] [#](/creator/twitter::1455157347748306949/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1455157347748306949/c:line/m:interactions.svg)

- [--] Week [-------] +2,560%
- [--] Month [---------] -72%
- [--] Months [----------] +1,939%
- [--] Year [----------] +823%

### Mentions: [--] [#](/creator/twitter::1455157347748306949/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1455157347748306949/c:line/m:posts_active.svg)

- [--] Week [--] +36%
- [--] Month [--] -9.40%
- [--] Months [---] -7.40%
- [--] Year [---] +4.10%

### Followers: [-----] [#](/creator/twitter::1455157347748306949/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1455157347748306949/c:line/m:followers.svg)

- [--] Week [-----] +1.70%
- [--] Month [-----] +1.50%
- [--] Months [-----] +8.30%
- [--] Year [-----] +23%

### CreatorRank: [-------] [#](/creator/twitter::1455157347748306949/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1455157347748306949/c:line/m:influencer_rank.svg)

### Social Influence

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

**Social topic influence**
[$mco](/topic/$mco) #14, [$amzn](/topic/$amzn), [$fico](/topic/$fico) #14, [$googl](/topic/$googl), [$spgi](/topic/$spgi) #51, [$msft](/topic/$msft) #321, [$ma](/topic/$ma), [$now](/topic/$now), [money](/topic/money), [investment](/topic/investment)

**Top accounts mentioned or mentioned by**
[@larryjamieson](/creator/undefined) [@innocencecapit1](/creator/undefined) [@w98ab](/creator/undefined) [@jasongreenwal12](/creator/undefined) [@jerrycap](/creator/undefined) [@arneulland](/creator/undefined) [@petermantas](/creator/undefined) [@billackman](/creator/undefined) [@sinstockpapi](/creator/undefined) [@barryschwartzbw](/creator/undefined) [@viggykrishnan](/creator/undefined) [@rebrandasy](/creator/undefined) [@pronkdaniel](/creator/undefined) [@pythiar](/creator/undefined) [@marcslans](/creator/undefined) [@madsposting](/creator/undefined) [@quartrapp](/creator/undefined) [@compoundpapi](/creator/undefined) [@invesquotes](/creator/undefined) [@blondesnmoney](/creator/undefined)

**Top assets mentioned**
[Moody's Corporation (MCO)](/topic/$mco) [Amazon.com, Inc. (AMZN)](/topic/$amzn) [Fair Isaac, Corp. (FICO)](/topic/$fico) [Alphabet Inc Class A (GOOGL)](/topic/$googl) [S&P Global Inc (SPGI)](/topic/$spgi) [Microsoft Corp. (MSFT)](/topic/$msft) [Mastercard, Inc. (MA)](/topic/$ma) [Now Coin (NOW)](/topic/$now) [Philip Morris International Inc. (PM)](/topic/$pm) [West Pharmaceutical Services Inc. (WST)](/topic/$wst) [Coca-Cola Co (KO)](/topic/$ko) [Costco Hot Dog (COST)](/topic/$cost) [CoStar Group, Inc. (CSGP)](/topic/$csgp) [British American Tobacco (BTI)](/topic/$bti) [Fortinet Inc (FTNT)](/topic/$ftnt) [Workday Inc (WDAY)](/topic/$wday) [Effect.AI (EFX)](/topic/$efx) [Hershey Co (HSY)](/topic/$hsy) [Msci Inc (MSCI)](/topic/$msci) [Starbucks Corporation (SBUX)](/topic/$sbux) [Palo Alto Networks Inc (PANW)](/topic/$panw) [PepsiCo, Inc. (PEP)](/topic/$pep) [TransDigm Group, Inc. (TDG)](/topic/$tdg) [Ferrari N.V. (RACE)](/topic/$race) [Uber Technologies, Inc. (UBER)](/topic/$uber) [Apple, Inc. (AAPL)](/topic/$aapl) [Thermo Fisher Scientific Inc. (TMO)](/topic/$tmo) [Limitus (LMT)](/topic/$lmt) [Salesforce Inc (CRM)](/topic/$crm) [Oxygen (OXY)](/topic/$oxy) [Decentral Games (DG)](/topic/$dg) [UnitedHealth Group (UNH)](/topic/$unh) [AppFolio, Inc. Class A (APPF)](/topic/$appf) [Adobe, Inc. (ADBE)](/topic/$adbe) [IDEX Corporation (IEX)](/topic/$iex) [Minted (MTD)](/topic/$mtd) [American Tower Corp (AMT)](/topic/$amt) [Northrop Grumman Corporation (NOC)](/topic/$noc) [Evotec SE (EVO)](/topic/$evo) [Heima (HEI)](/topic/$hei) [Copart, Inc. (CPRT)](/topic/$cprt) [Interactive Brokers Group, Inc. (IBKR)](/topic/$ibkr) [Brown-Forman Corporation Class B (BF.B)](/topic/$bfb) [Metadium (META)](/topic/$meta) [Berkshire Hathaway Inc Class B (BRK.B)](/topic/$brkb) [Texas Instruments (TXN)](/topic/$txn) [Hilton Hotels Corporation Common Stock (HLT)](/topic/$hlt)
### Top Social Posts
Top posts by engagements in the last [--] hours

"$MKL Markel reports record breaking year"  
[X Link](https://x.com/returnoncap/status/1488990622929371136)  2022-02-02T21:40Z [----] followers, [--] engagements


"$MAN - Manpower offers recruitment services and contractors globally. Right now we are experiencing one fo the tightest job markets ever and companies are looking to external recruiters. The company trades for around 12x earnings and expects mid teens earnings growth out [--] years"  
[X Link](https://x.com/returnoncap/status/1503445508110565393)  2022-03-14T18:58Z [----] followers, [--] engagements


"$FNF - Fidelity National are known for writing title insurance on homes which can be quite cyclical. However in a genius countercyclical move management recently acquired an annuity business. Trades for 6x earnings"  
[X Link](https://x.com/returnoncap/status/1503445509591212034)  2022-03-14T18:58Z [----] followers, [--] engagements


"@blueshirt_plus [--] bps Natural bond maturity run off Guidance for [--] or [--] more hikes this year Lots of we will watch the data obscurity"  
[X Link](https://x.com/returnoncap/status/1503773499806076936)  2022-03-15T16:41Z [----] followers, [--] engagements


"@kancauskis $BRK $GOOGL $META $RMG.L $GPRO are mine"  
[X Link](https://x.com/returnoncap/status/1521149614090600450)  2022-05-02T15:28Z [----] followers, [--] engagements


"$BRK.A $BRK.B continues to buy $OXY"  
[X Link](https://x.com/returnoncap/status/1543162852835475456)  2022-07-02T09:21Z [----] followers, [--] engagements


"$SWK rocking the same stock price as [----] after its earnings collapse"  
[X Link](https://x.com/returnoncap/status/1573626396722843650)  2022-09-24T10:52Z [----] followers, [--] engagements


"$TXN buying manufacturing equipment at pennies on the dollar a decade ago was a masterstroke of capital allocation. It jump started the firms [---] millimeter silicon wafer production and has been a huge contributor to their gross margin expansion"  
[X Link](https://x.com/returnoncap/status/1599811746453020677)  2022-12-05T17:03Z [----] followers, [--] engagements


"Youve got to back out stock based compensation from your free cash flow yield calculations. Some examples. $ADBE reports around 7.5B of FCF but 1B of it is SBC add back. $AMZN is expected to make 40B of FCF in [----] but it pays 17B in SBC. Look deeper"  
[X Link](https://x.com/returnoncap/status/1612873989671587840)  2023-01-10T18:08Z [----] followers, 20.1K engagements


"Hey Twitter what are your favourite companies with the best combinations of: High FCF yield High Return on Capital High FCF growth rate Some of my favourites are: $AAPL $ADBE $FTNT $V and $GOOGL. [--] others with low yield but high returns are $ASML and $UMG.AS"  
[X Link](https://x.com/returnoncap/status/1617162566807035905)  2023-01-22T14:09Z [----] followers, [---] engagements


"@InvestInAssets $HLT and $FAST"  
[X Link](https://x.com/returnoncap/status/1617310401380720642)  2023-01-22T23:57Z [----] followers, [---] engagements


"Todd Combs recently revealed that in discussions with Warren they ask as a way to screen: - Who is going to be 15x earnings in the next 12m - Who going to earn more in five years (90% confidence) - Who will compound at 7% (50% confidence) My answers: $GOOGL $ZBRA $HIFS"  
[X Link](https://x.com/returnoncap/status/1625132629069598723)  2023-02-13T13:59Z [----] followers, [----] engagements


"$VRSN $21B market cap Buffett owns 12% of the company $1B per year in buybacks. Nearly 5% of company cannibalised every year at these prices"  
[X Link](https://x.com/returnoncap/status/1627997849014214656)  2023-02-21T11:45Z [----] followers, 16.1K engagements


"Is $PARA below $20 a steal deal or a value trap I hate streaming but they have some great core assets. Paramount movies Showtime and CBS Sports"  
[X Link](https://x.com/returnoncap/status/1634306382047371279)  2023-03-10T21:33Z [----] followers, [----] engagements


"Bill Ackmans Investment Principles he has engraved in a stone tablet at the firms office: [--]. Simple and predictable businesses [--]. Free cash flow generative [--]. Dominant market position [--]. Large barriers to entry Continued 👇"  
[X Link](https://x.com/returnoncap/status/1639726537988612099)  2023-03-25T20:30Z [----] followers, 55.2K engagements


"Buffett really sees something in $OXY below $60"  
[X Link](https://x.com/returnoncap/status/1640649563462672386)  2023-03-28T09:38Z [----] followers, [---] engagements


"$JKHY stock is down due to concerns about regional banks (their clients). At 30x earnings its still very rich but its a phenomenal business with 99% customer retention. Management are very conservative with capital no debt and prioritise organic growth. Interesting one"  
[X Link](https://x.com/returnoncap/status/1645386983043133442)  2023-04-10T11:23Z [----] followers, [----] engagements


"The more I look into Indian Energy Exchange $IEX the more I like it. Its capital light essential and seems sure to grow over time. Definitely an interesting research candidate Heres an overview thread"  
[X Link](https://x.com/returnoncap/status/1647185834603343875)  2023-04-15T10:31Z [----] followers, [---] engagements


"I became interested in exchanges such as $CME and EEX after hearing about @GSpier investing in $IEX. These are critical financial market infrastructure which hold the economic high ground. They have been expensive in the last few years but recently have corrected somewhat. Enjoy"  
[X Link](https://x.com/returnoncap/status/1647608294695923712)  2023-04-16T14:30Z [----] followers, [---] engagements


"$MKL using Tom Gayners way of calculating the intrinsic value of Markel I get $2580 compared with the current trading price of $1320. My takeaway from this is the market does not give Markels $27B investment portfolio much value at all"  
[X Link](https://x.com/returnoncap/status/1647955851494260739)  2023-04-17T13:31Z [----] followers, 21K engagements


"Techtronic Industries might be researching. It has a very fruitful partnership with Home Depot and a great track record of revenue earnings and dividend growth. Currently trading at 17.5x earnings usually trades at 20x earnings and averages 15% earnings growth"  
[X Link](https://x.com/returnoncap/status/1649704505640902656)  2023-04-22T09:19Z [----] followers, [---] engagements


"So Terry Smith can buy Mettler Toledo $MTD at a 2% FCF yield as it grows FCF at 10% without batting an eyelid. But he can't see anyway the numbers work for $ADYEN at a 2% FCF yield when it's growing FCF at 40%"  
[X Link](https://x.com/returnoncap/status/1651565323642982403)  2023-04-27T12:33Z [----] followers, 50.9K engagements


"I think $CSCO is being priced for 2% annual FCF per share growth over the next [--] years. Is that likely"  
[X Link](https://x.com/returnoncap/status/1658866372384833537)  2023-05-17T16:05Z [----] followers, [--] engagements


"$AMT An average U.S. tower costs $275000 to build. Rents for the first tenant are $20000 per year and the operating expenses with one tenant are $12000 resulting only a 3% return on the tower. The return jumps to 13% once it has added the second tenant and 24% with a third"  
[X Link](https://x.com/returnoncap/status/1661450510912704538)  2023-05-24T19:14Z [----] followers, [--] engagements


"It costs about $40k to remove equipment from a tower in the U.S. $AMT US tenants pay $20k-$30k pa in rent. They would have to recoup [---] or [--] years worth of rent to break even. A rival would need to undercut prices by that much more to make up for the loss in deciding to switch"  
[X Link](https://x.com/returnoncap/status/1661451821032919052)  2023-05-24T19:19Z [----] followers, [--] engagements


"@soonercapital Nice list. Ive been looking at $AMT in the last few days im not sure its cheap enough yet to have any margin of safety. In terms of $MAR I still feel like $HLT is superior and worth waiting for"  
[X Link](https://x.com/returnoncap/status/1661644985748320262)  2023-06-27T23:36Z [----] followers, [---] engagements


"How will the Nick Sleep 33% $BRK.B $AMZN $COST portfolio perform for the next [--] years and why"  
[X Link](https://x.com/returnoncap/status/1663293385703141377)  2023-05-29T21:17Z [----] followers, [--] engagements


"Berky back on the bid at $OXY. Anything under $60 it seems"  
[X Link](https://x.com/returnoncap/status/1663819232507822080)  2023-05-31T08:06Z [----] followers, [---] engagements


"Company overview thread time $WAT is a compounder favourite with high Returns on Capital and steady FCF growth. Waters specialises in providing analytical instruments services and supplies with a strong emphasis on liquid chromatography and mass spectrometry products. 👇"  
[X Link](https://x.com/returnoncap/status/1663919638034497538)  2023-05-31T14:45Z [----] followers, [----] engagements


"Despite recent challenges Waters analytical instrument business is still very moaty. This moat is fortified by intellectual property regulatory factors and reproducibility all of which contribute to the high switching costs for users"  
[X Link](https://x.com/returnoncap/status/1663919655541432325)  2023-05-31T14:45Z [----] followers, [--] engagements


"Waters offers differentiated technology protected by various intangible assets. These assets combined with its ability to continuously innovate keep competitors at bay and end users loyal making these intangible assets a significant advantage"  
[X Link](https://x.com/returnoncap/status/1663919657818939395)  2023-05-31T14:45Z [----] followers, [---] engagements


"$AAP trying to join the oligopoly"  
[X Link](https://x.com/returnoncap/status/1663923010862981121)  2023-05-31T14:58Z [----] followers, [---] engagements


"Im highly motivated to buy $COST at a mid 20s multiple of earnings if the universe could please help me"  
[X Link](https://x.com/returnoncap/status/1664377120045293571)  2023-06-01T21:03Z [----] followers, [----] engagements


"$DG hits 15x GAAP EPS"  
[X Link](https://x.com/returnoncap/status/1664753109195804672)  2023-06-02T21:57Z [----] followers, [----] engagements


"$COST not raising membership prices during generational high inflation"  
[X Link](https://x.com/returnoncap/status/1665033715335020547)  2023-06-03T16:32Z [----] followers, [----] engagements


"Genuinely thought $DIS was about to announce that they were being acquired by $AAPL"  
[X Link](https://x.com/returnoncap/status/1665791831710261250)  2023-06-05T18:44Z [----] followers, [---] engagements


"@sinstockpapi @theunemployeda1 Thats an $MO product 👀 have you been fiddling with your Tobacco basket"  
[X Link](https://x.com/returnoncap/status/1667236017894465536)  2023-06-09T18:23Z [----] followers, [---] engagements


"The origins and inputs to Howard Marks and Oaktrees investment philosophy. I really love the idea of consistently avoiding big unforced errors rather than shooting for the moon"  
[X Link](https://x.com/returnoncap/status/1667574452001857537)  2023-06-10T16:48Z [----] followers, 13.7K engagements


"$CRWD CEO @George_Kurtz wins the LMP2 Pro-AM category at the #LEMANS24 🏁 IT'S A WIN 🏆🏆The LMP2 Pro-Am victory has gone our way in the 100th anniversary @24hoursoflemans #LeMans24 🏆 @CrowdStrikeRcng 🏆 @JamesAllenRaceD 🏆 @George_Kurtz 🏆 @colinbraun #APRacingTeam #CrowdStrikeRacing #CrowdStrike #LeMansCentenary #HagertyRLM #WEC https://t.co/ZYWupd8gvo 🏁 IT'S A WIN 🏆🏆The LMP2 Pro-Am victory has gone our way in the 100th anniversary @24hoursoflemans #LeMans24 🏆 @CrowdStrikeRcng 🏆 @JamesAllenRaceD 🏆 @George_Kurtz 🏆 @colinbraun #APRacingTeam #CrowdStrikeRacing #CrowdStrike"  
[X Link](https://x.com/returnoncap/status/1667972342738296834)  2023-06-11T19:09Z [----] followers, [---] engagements


"@TimLesterReal Ive been looking at $PANW love the business"  
[X Link](https://x.com/returnoncap/status/1668222298896191488)  2023-06-12T11:42Z [----] followers, [--] engagements


"Why is CoStar $CSGP consistently priced at 60x earning when its returns on capital and equity are so low Is it solely because of the moat and the management"  
[X Link](https://x.com/returnoncap/status/1669401967037120513)  2023-06-15T17:50Z [----] followers, [----] engagements


"Definitely the confirmation bias I needed from NicTwit. $BTI $PM $MO"  
[X Link](https://x.com/returnoncap/status/1670494863962382337)  2023-06-18T18:13Z [----] followers, [--] engagements


"$AMZN This is my opinion on the value of Prime on a per month basis: - Prime Delivery and Grocery: $20 - Prime Video: $12 - Prime Music: $10 - Prime Photos: $3 - Prime Reading: $3 - Prime Gaming: $10 Total: $58 per month of value Price: $15 Incredible"  
[X Link](https://x.com/returnoncap/status/1670525326705807360)  2023-06-18T20:14Z [----] followers, [--] engagements


"I feel like FinTwit are getting themselves tied up in knots about valuations and market timing. Im a simple man I like to buy pieces of businesses I like the economics of for less than a conservative estimate of what they are worth and hope I can retire wealthy one day"  
[X Link](https://x.com/returnoncap/status/1672605155504660482)  2023-06-24T13:58Z [----] followers, [--] engagements


"Theres nothing I want to commit money to right now its in bills. $PM and $BTI are the only things Ive purchased recently and Im in no rush for them to revert up. I check my watchlist and buy targets maybe once every [--] weeks. Dont agonise over every move live your life 🙏"  
[X Link](https://x.com/returnoncap/status/1672605157794652161)  2023-06-24T14:01Z [----] followers, [---] engagements


"$KO and $PEP pushing heavily in to Zero Sugar options is a big plus to society vs full fat. At least with the science we know now"  
[X Link](https://x.com/returnoncap/status/1672960914130100224)  2023-06-25T13:38Z [----] followers, [----] engagements


"@BarrySchwartzBW @Larryjamieson_ No I hear you Anyone in the creative community uses it and has a brilliant SaaS model. I do think the payment rails credit agencies and critical proprietary data companies are better though. Id probably take $V / $MA $CSGP and $SPGI over Adobe"  
[X Link](https://x.com/returnoncap/status/1675528337974763520)  2023-07-02T15:34Z [----] followers, [---] engagements


"$TMO seems like a great business but its CROIC is really low"  
[X Link](https://x.com/returnoncap/status/1675644444781969408)  2023-07-02T23:15Z [----] followers, [----] engagements


"$CSGP and $FICO might have two of the strongest non-physical moat sources Ive ever seen in public businesses. They have proprietary data which would take incredible amounts of effort to replicate and a lot of it human effort. It also makes their moat the most resilient to AI"  
[X Link](https://x.com/returnoncap/status/1676909716826357760)  2023-07-06T11:03Z [----] followers, [----] engagements


"@SouthernValue95 Specifically I think the moat source is the proprietary algorithm combined with it being well ingrained into trusted processes that are risky and unlikely to be changed by the major institutions it serves"  
[X Link](https://x.com/returnoncap/status/1676970847389782019)  2023-07-07T21:51Z [----] followers, [---] engagements


"$CVS at a 14% FCF yield is wild"  
[X Link](https://x.com/returnoncap/status/1677072363479789576)  2023-07-06T21:49Z [----] followers, 91.6K engagements


"$DUK $D $SO How can utility companies do this forever"  
[X Link](https://x.com/returnoncap/status/1677074609328234508)  2023-07-06T21:58Z [----] followers, [----] engagements


"Which is most likely to give an over 10% IRR in the next [--] years $BTI $COST $AMZN or $V"  
[X Link](https://x.com/returnoncap/status/1677412271184572418)  2023-07-07T20:57Z [----] followers, [---] engagements


"Which US military company is best positioned to outperform its peers over the next [--] years $LMT $GD $NOC $RTX Lockheed Martin General Dynamics Raytheon Northrop Grumman Lockheed Martin General Dynamics Raytheon Northrop Grumman"  
[X Link](https://x.com/returnoncap/status/1677415786288168960)  2023-07-07T20:34Z [----] followers, [----] engagements


"@lhamtil My gut feeling was $RTX because Pratt & Whitney are at the very start of their long ramp of delivering thousands of the PW1000 family of geared turbofan engines as well as a strong defence business. Do you think they will all perform equally well"  
[X Link](https://x.com/returnoncap/status/1677419195435307013)  2023-07-07T21:54Z [----] followers, [--] engagements


"There's a couple of clear winners here I think in $LMT and $NOC. (Worth noting I used what I thought would be normalised representation of FCF for this)"  
[X Link](https://x.com/returnoncap/status/1677432024682856448)  2023-07-07T21:38Z [----] followers, [----] engagements


"@BrockHBriggs @lhamtil $LMT capital allocation seems pretty good to me they earn very high returns on capital"  
[X Link](https://x.com/returnoncap/status/1677432268892012549)  2023-07-07T21:53Z [----] followers, [---] engagements


"@LibrarianCap @lhamtil P&W is a beast for sure they are in a great position with Airbus too diversifying their revenue more than the others for better or for worse. I do think $NOC has the growth of space ahead of it and $LMT has an amazing franchise with the F-35"  
[X Link](https://x.com/returnoncap/status/1677674640649355265)  2023-07-08T13:42Z [----] followers, [--] engagements


"@Investmentideen @ValueStockGeek Sure I understand what you are saying Im just presenting that the two things are different and I think theres an argument that holding for the long term is the closer to the traditional form of investing rather than flipping a business for a valuation arbitrage"  
[X Link](https://x.com/returnoncap/status/1678322182772883456)  2023-07-10T08:36Z [----] followers, [---] engagements


"@Investmentideen @ValueStockGeek No actually this idea comes from a speech by Charlie Munger where he talks about arbitrators like Graham flipping cheap businesses vs someone like Phil Caret and Phil Fisher who buy businesses they like and have thoroughly researched at good prices and sit on their ass"  
[X Link](https://x.com/returnoncap/status/1678324151914844160)  2023-07-10T08:51Z [----] followers, [---] engagements


"$CSGP is a one of a kind business not replicable and earnings are sure to grow in the future. The problem is I cannot even begin to imagine paying 80x earnings for it 💀"  
[X Link](https://x.com/returnoncap/status/1678334134706372609)  2023-07-10T09:23Z [----] followers, [----] engagements


"$FICO the software units dollar-based net retention rates have hovered around 105%-115% in recent years"  
[X Link](https://x.com/returnoncap/status/1678346134215970816)  2023-07-10T21:37Z [----] followers, [---] engagements


"The last time $BTI $BATS.L was this valuation it produced an IRR of 17.6% for [--] years"  
[X Link](https://x.com/returnoncap/status/1678428487827193857)  2023-07-10T16:40Z [----] followers, 63.7K engagements


"Logoless events are on a different level. - Wimbledon - The Masters --------------- Everything else"  
[X Link](https://x.com/returnoncap/status/1678517356975276033)  2023-07-10T21:33Z [----] followers, [---] engagements


"Seeing a few smart people mention $CRL recently whats the deal"  
[X Link](https://x.com/returnoncap/status/1679544244816453661)  2023-07-13T17:32Z [----] followers, [--] engagements


"$ASML $AMAT $KLAC $LRCX Which outperforms over the next decade Comment why"  
[X Link](https://x.com/returnoncap/status/1679793693048307713)  2023-07-14T10:03Z [----] followers, [--] engagements


"From what I can tell anecdotally Zyn is certainly exhibiting the same brand loyalty $PM sees from Marlboro"  
[X Link](https://x.com/returnoncap/status/1681041579732094980)  2023-07-21T18:50Z [----] followers, [----] engagements


"Interesting one: $V FCF yield: 3.63% $PEP FCF yield: 3.44%"  
[X Link](https://x.com/returnoncap/status/1683411763746725888)  2023-07-24T09:40Z [----] followers, [--] engagements


"If you have a low margin high capital velocity business with high ROIC you want to look at it from the low cost producer lens think $COST If you have a high margin low capital turnover business with high ROIC you want to look at it from the differentiation lens think $V $MA"  
[X Link](https://x.com/returnoncap/status/1683474966077997058)  2023-07-24T14:54Z [----] followers, [---] engagements


"$MSFT what a company. Office is still growing at a double digit rate Charts by @TSOH_Investing he has a write up coming out Monday"  
[X Link](https://x.com/returnoncap/status/1684282887300841475)  2023-07-26T19:21Z [----] followers, [--] engagements


"The companies with high NOPAT margins and high capital turns are unbelievable"  
[X Link](https://x.com/returnoncap/status/1684305392313024514)  2023-07-26T20:51Z [----] followers, [----] engagements


"Dont like banks but $WFC is catching my attention for saying they will buy back 20% of the market cap as well as Fed restrictions potentially getting lifted soon. Im not certain their isnt a nuke on the balance sheet though. Plenty of Californian Office loans on the books"  
[X Link](https://x.com/returnoncap/status/1685661488311152640)  2023-07-31T13:46Z [----] followers, [---] engagements


"$ASML $AMAT and $LRCX were steals last year. Like literal daylight robbery"  
[X Link](https://x.com/returnoncap/status/1685709785637785600)  2023-07-30T21:13Z [----] followers, [----] engagements


"@Brian_Stoffel_ How are you getting to 15x FCF They on track to make $2.5B this year and they market cap is $60.7B"  
[X Link](https://x.com/returnoncap/status/1686852759985721344)  2023-08-02T21:33Z [----] followers, 35.6K engagements


"$V ROIC over time. Valuations are usually lead ROIC and margin changes"  
[X Link](https://x.com/returnoncap/status/1687198998770417664)  2023-08-03T20:29Z [----] followers, [----] engagements


"$FTNT down 18% pre market after reporting Q2 earnings. Revenue has plateaued in the last [--] quarters"  
[X Link](https://x.com/returnoncap/status/1687436209042108416)  2023-08-04T12:11Z [----] followers, [----] engagements


"$EVO Evolution ROIC over the years. Big hit in [----] due to large amount of goodwill hitting the balance sheet (and therefore the equity). Goodwill is something that I personally exclude. When excluded its service as usual of massive ROIC"  
[X Link](https://x.com/returnoncap/status/1687444791502524418)  2023-08-04T12:46Z [----] followers, [----] engagements


"$EVO Quarterly Revenue slowing slightly from a massive ramp up but still very strong"  
[X Link](https://x.com/returnoncap/status/1687445543415406592)  2023-08-04T12:49Z [----] followers, [----] engagements


"$FTNT is trading in the mid 50s. Using a [--] or 8% discount rate I believe expectations are for the company to grow FCF at 10-12% per year for the next [--] years. In the previous [--] years it has been 28-30% per year. $FTNT down 18% pre market after reporting Q2 earnings. Revenue has plateaued in the last [--] quarters. https://t.co/JSVwvG5pgh $FTNT down 18% pre market after reporting Q2 earnings. Revenue has plateaued in the last [--] quarters. https://t.co/JSVwvG5pgh"  
[X Link](https://x.com/returnoncap/status/1687467049981788160)  2023-08-04T14:14Z [----] followers, [----] engagements


"$PANW down in sympathy of Fortinet also experiencing strong growth and strong FCF per share"  
[X Link](https://x.com/returnoncap/status/1687595034445508608)  2023-08-04T22:43Z [----] followers, [----] engagements


"I often think about how wild it is that $CRM use the name image and likeness of literal Einstein to market AI. Could you imagine what the real man would have thought if someone told him this is how he would be used in the year 2023"  
[X Link](https://x.com/returnoncap/status/1687603569237626880)  2023-08-05T00:02Z [----] followers, [---] engagements


"@sinstockpapi My elite tier potential long term winners list is $PANW $FTNT $WDAY $NOW $ANET they all have durable and growing franchises and pricing power for decades if they execute well. The trouble is buying them at a price that makes sense and that most of them are SBC junkies"  
[X Link](https://x.com/returnoncap/status/1687758376292302848)  2023-08-05T09:32Z [----] followers, [----] engagements


"@sinstockpapi Honestly depends on your opinions and preferences. Workday are very deeply embedded in their customers similar to a salesforce type thing so if they continue getting embedded deeply then they have huge pricing power long term. ServiceNow and Atlassian is very much the same. Palo"  
[X Link](https://x.com/returnoncap/status/1687767331622035456)  2023-08-05T20:54Z [----] followers, [---] engagements


"$PANW has sold into all the Fortune [---] and more than three quarters of the Global [----] firms"  
[X Link](https://x.com/anyuser/status/1688667586857148417)  2023-08-07T21:45Z [--] followers, [--] engagements


"Seth Klarman adds to $FIS buys $AMZN $DG and $UNP"  
[X Link](https://x.com/returnoncap/status/1690101078824529920)  2023-08-11T20:41Z [----] followers, 13.7K engagements


"@JasonGreenwal12 Big $QRVO sell down too"  
[X Link](https://x.com/returnoncap/status/1690102871377801216)  2023-08-11T20:48Z [----] followers, [---] engagements


"I think streaming services are experiencing peak pricing. Its got to the point where subscribing to the main streaming services is more expensive than cable (who would have guessed). Consolidation is coming. Im expecting $AAPL and $AMZN to make moves. I think $PARA is in play"  
[X Link](https://x.com/returnoncap/status/1690668756777766912)  2023-08-13T10:16Z [----] followers, [----] engagements


"The General Ackman is buying up $GOOG and selling down $LOW"  
[X Link](https://x.com/returnoncap/status/1691184118216720385)  2023-08-14T20:24Z [----] followers, [----] engagements


"Im starting to learn that the greats buy: Financial service regulated oligopolies: $FICO $MCO $V $CSGP Asset light consumer staples: $KO $PM Deeply embedded enterprise SaaS: $MSFT $NOW $WDAY $CRM"  
[X Link](https://x.com/returnoncap/status/1691892186294464744)  2023-08-16T19:18Z [----] followers, [--] engagements


"Im starting to learn that the greats buy: Financial service regulated oligopolies like: $FICO $MCO $V $CSGP Asset light consumer staples like: $KO $PM $OR.PA Deeply embedded enterprise SaaS like: $MSFT $NOW $WDAY $CRM"  
[X Link](https://x.com/returnoncap/status/1691895615712526359)  2023-08-16T19:32Z [----] followers, 11.9K engagements


"I have been watching $EVO fall recently I think using conservative estimates its starting to look potentially interesting"  
[X Link](https://x.com/returnoncap/status/1691913275057877410)  2023-08-16T20:42Z [----] followers, [----] engagements


"@OliviaEl153 I think [--] or [--] is fair. The growth rates are much lower than theyve experienced in the past so Im not overly worried about the discount rate being 789"  
[X Link](https://x.com/returnoncap/status/1692088272787259566)  2023-08-17T08:17Z [----] followers, [---] engagements


"@Max_Baron_98 I need to look into a bit more on paper it looks great but I want to really look into its competitive advantages (if any)"  
[X Link](https://x.com/returnoncap/status/1692135755517157615)  2023-08-17T11:26Z [----] followers, [----] engagements


"After the dust has settled $ADYEN is a 28B euro company expecting to make about 755m euros in operating profit this year 1B next year and 1.4B the year after. I don't think its a screaming buy. Even after the carnage its 20x [----] EBIT estimates"  
[X Link](https://x.com/returnoncap/status/1692275218826285085)  2023-08-17T20:40Z [----] followers, 31.3K engagements


"If you stay calm rational and patient over a long enough time horizon the results you deserve will come to you. Dont join the yearly performance derby the only performance that matters is since inception"  
[X Link](https://x.com/returnoncap/status/1693178240918061241)  2023-08-20T08:28Z [----] followers, [---] engagements


"Morningstar's view of $ADYEN: We view Adyen as cheap. Moreover we believe our assumptions of 22% revenue growth over the next five years and 16% over the next [--] years leaves room for surprises to the upside. To reach our fair value estimate Adyen can miss its mid-20s percent revenue CAGR and above 65% EBITDA margin guidance for the medium term"  
[X Link](https://x.com/returnoncap/status/1693560875242660000)  2023-08-21T09:49Z [----] followers, 30.8K engagements


"I think a 10% ARR is possible from $KO at $55"  
[X Link](https://x.com/returnoncap/status/1693568473987760473)  2023-08-21T10:19Z [----] followers, [----] engagements


"Their platform undoubtedly provides added value that the competition cant (yet) but ultimately the switching cost for parts of the ecosystem is low. Adyen directly competes with peers processing a share of transaction volume each for a merchant. I dont think the moat is huge but there is an advantage for merchants using Adyen"  
[X Link](https://x.com/returnoncap/status/1694858786408702213)  2023-08-24T23:46Z [----] followers, [---] engagements


"$MCO $FICO and $V are some of the best businesses Ive ever seen"  
[X Link](https://x.com/returnoncap/status/1695568487429668868)  2023-08-26T22:46Z [----] followers, 21.1K engagements


"@InnocenceCapit1 Uh oh why not Two are regulated monopolies/oligopolies and Visa is a toll bridge on most payments worldwide"  
[X Link](https://x.com/returnoncap/status/1695702499867480116)  2023-08-27T07:39Z [----] followers, [--] engagements


"@viggy_krishnan @InnocenceCapit1 Fair comments I do think MA will pick up the slack of any MIS weakness though. I like MA a lot FHFA has made both scores mandatory right Software business looks great too From what I see Visas market share in India is pretty stable at 50% could be a challenge though"  
[X Link](https://x.com/returnoncap/status/1695711605013479855)  2023-08-27T08:15Z [----] followers, [---] engagements


"Anyone have a view on why a company would pick $MCO Enterprise Risk Solutions over $FIS $SSNC or $VRSK Any insights on the relative strength of the products would be really appreciated"  
[X Link](https://x.com/returnoncap/status/1695901649355558927)  2023-08-27T20:50Z [----] followers, [---] engagements


"Very interesting to see $MCO REIS take a shot at $CSGP. They are absolutely minuscule in scale compared to CoStar but it could be an interesting one to watch develop"  
[X Link](https://x.com/returnoncap/status/1695902156170182676)  2023-08-27T20:52Z [----] followers, [----] engagements


"@cloneinvestor Vsa and Mastercard is pretty even for me but I prefer Moodys because its less messy than S&P. S&P has lots of businesses and divisions but still is a fantastic company and probably one of the best in the world"  
[X Link](https://x.com/returnoncap/status/1695907801351012836)  2023-08-27T21:15Z [----] followers, [---] engagements


"$GWRE Guidewire has not lost a customer to a competitor since it was founded in 2003"  
[X Link](https://x.com/returnoncap/status/1696203680364581260)  2023-08-28T16:50Z [----] followers, [----] engagements


"$CSGP CEO and Founder"  
[X Link](https://x.com/returnoncap/status/1696211419849429135)  2023-08-28T17:21Z [----] followers, [---] engagements


"I cannot believe $CSGP is priced at 64x Adjusted EBITDA of $510m. what on Earth type of performance is priced in/required to outperform the market"  
[X Link](https://x.com/returnoncap/status/1696243450788663550)  2023-08-28T19:28Z [----] followers, [----] engagements


"Including Goodwill in ROIC calculations doesn't make sense to me. I feel Goodwill on a balance sheet is a comment on the price above book paid for acquisitions. The business has already had a cash/share outflow do people consider goodwill to be capital invested in the business"  
[X Link](https://x.com/returnoncap/status/1696482097668473192)  2023-08-29T11:17Z [----] followers, [---] engagements


"It is important to keep in mind that the financial press and Wall Street live on eyeballs and transactions. They are by definition trying to maximize the noise to convince you to sell what you own and buy what you do not"  
[X Link](https://x.com/returnoncap/status/1696629458650743118)  2023-08-29T21:02Z [----] followers, [---] engagements


"$DG looking into this compounder now its price has collapsed. A couple of questions I cant decide on is: A) whats stopping Walmart Target etc opening small format stores in competition B) with ongoing urban migrations are the places DG serves in a structural decline"  
[X Link](https://x.com/returnoncap/status/1697339626644537724)  2023-08-31T20:04Z [----] followers, [----] engagements


"Looks like $DG over-earned during the pandemic and now is regressing back to trend"  
[X Link](https://x.com/returnoncap/status/1697735231896474058)  2023-09-01T22:16Z [----] followers, [----] engagements


"$DIS is only now back to its long term average valuation multiple of 22x earnings"  
[X Link](https://x.com/returnoncap/status/1698412190359867599)  2023-09-03T19:06Z [----] followers, [----] engagements


"The purpose of the margin of safety is to render the forecast unnecessary"  
[X Link](https://x.com/returnoncap/status/1698825607344209940)  2023-09-04T22:29Z [----] followers, [----] engagements


"I think we will end up viewing Andy Jassys CEO transition at $AMZN in the same way we think about Tim Cook at $AAPL and Satya Nadella at $MSFT. Jassy and Nadella are actually pretty similar in styles and career but we will see how he does over time"  
[X Link](https://x.com/returnoncap/status/1700416605958590808)  2023-09-09T07:51Z [----] followers, [---] engagements


"Blackshirts going off today #GBR"  
[X Link](https://x.com/returnoncap/status/1700554097907130623)  2023-09-09T16:57Z [----] followers, [---] engagements


"@JasonGreenwal12 $UNP was one I think. Omaha HQ touches Buffetts heart"  
[X Link](https://x.com/returnoncap/status/1701669118229848288)  2023-09-12T18:48Z [----] followers, [---] engagements


"$MSFT $ORCL how many times do the letters A and I get mentioned together"  
[X Link](https://x.com/returnoncap/status/1701921642547458458)  2023-09-13T11:31Z [----] followers, [--] engagements


"Three nice $MCO analytics highlights from the Q2 call"  
[X Link](https://x.com/returnoncap/status/1702395017845743621)  2023-09-14T18:52Z [----] followers, [---] engagements


"$NOW elite level land and expand execution"  
[X Link](https://x.com/returnoncap/status/1702440014758482172)  2023-09-14T21:51Z [----] followers, [---] engagements


"$ARM Whos paying $60B for $0.6B in operating profit"  
[X Link](https://x.com/returnoncap/status/1702619661903278489)  2023-09-15T09:45Z [----] followers, [---] engagements


"I feel pretty confident in my opinion that $MSFT is worth somewhere around the $270-$280 range I would love another opportunity to buy shares around $250. 10y assumptions: - 8% annual revenue growth - 30% FCF margins - Capex around 15% of revenue - D&A around 7% of revenue"  
[X Link](https://x.com/returnoncap/status/1702733215583113476)  2023-09-15T17:16Z [----] followers, [---] engagements


"$CL implementing "bold" pricing"  
[X Link](https://x.com/returnoncap/status/1704955028258099278)  2023-09-21T20:25Z [----] followers, [---] engagements


"@JRogrow @real_bill_gross Arb trades are doing very well at the moment. Activision looks home and dry now too. I remember Bill listing out a few MMP ATVI VMWare etc and they all did well"  
[X Link](https://x.com/returnoncap/status/1705183019940646996)  2023-09-22T11:31Z [----] followers, [--] engagements


"@CCVisuals_ Weird acquisitions. High interest rates on future tower purchases"  
[X Link](https://x.com/returnoncap/status/1706407578522022075)  2023-09-25T20:37Z [----] followers, [---] engagements


"Some staples starting to trade below their average valuations $KO $CL $HSY $PEP (nearly) $PM $BUD"  
[X Link](https://x.com/returnoncap/status/1707813553707643380)  2023-09-29T17:44Z [----] followers, [----] engagements


"Through the rest of the decade Im expecting a market beating 12% TSR from $PM"  
[X Link](https://x.com/returnoncap/status/1707820831164780734)  2023-09-29T18:13Z [----] followers, [---] engagements


"@Rebrand_As_Y With rates where they are absolutely agree that asset prices have levitating recently. Especially the bond like ones. Disagree with the volume growth and pricing power comment on all of them. $PM for example has demonstrated volume growth and pricing power these years"  
[X Link](https://x.com/returnoncap/status/1707823347889824073)  2023-09-29T18:23Z [----] followers, [---] engagements


"@AltayCapital @Rebrand_As_Y Pricing and their premium assets"  
[X Link](https://x.com/returnoncap/status/1707892770617110887)  2023-09-29T22:59Z [----] followers, [--] engagements


"Michael Mauboussins firm on the companies with the widest moats in the world"  
[X Link](https://x.com/returnoncap/status/1708566383540240604)  2023-10-01T19:35Z [----] followers, 221.2K engagements


"I think $HSY offers market returns through the end of the decade from here. 7-8% TSR"  
[X Link](https://x.com/returnoncap/status/1708603112930377825)  2023-10-01T22:01Z [----] followers, [----] engagements


"@JRogrow I think youre right though I feel NEE has great long term tailwinds if they government keeps subsidising"  
[X Link](https://x.com/returnoncap/status/1708901869106368817)  2023-10-02T17:48Z [----] followers, [---] engagements


"@sinstockpapi $ASML $MOG Aerojet Rocketdyne could probably fall under this too"  
[X Link](https://x.com/returnoncap/status/1708949255077982597)  2023-10-02T20:57Z [----] followers, [---] engagements


"@sinstockpapi $ILMN would also probably work"  
[X Link](https://x.com/returnoncap/status/1708950432398098853)  2023-10-02T21:01Z [----] followers, [---] engagements


"@sinstockpapi Also extremely good like the $TDG of Semis"  
[X Link](https://x.com/returnoncap/status/1708950780709912922)  2023-10-02T21:03Z [----] followers, [---] engagements


"$TMO profit by segment revenue by type and geography"  
[X Link](https://x.com/returnoncap/status/1708974591404589148)  2023-10-02T22:37Z [----] followers, [----] engagements


"@Larryjamieson_ Are we talking $TDG type levered or $DND type levered"  
[X Link](https://x.com/returnoncap/status/1709198556697862221)  2023-10-03T13:27Z [----] followers, [---] engagements


"I have to say $NEE $AMT and $AWK look particularly interesting to me at the moment. Key infrastructure of the future getting blasted at the moment"  
[X Link](https://x.com/returnoncap/status/1709965605334396936)  2023-10-05T16:15Z [----] followers, [----] engagements


"$LMT and $NOC could be really worth considering here they gush FCF have consistently high ROIC and are well positioned for growth areas of defence over the next decades. Anyone have any thoughts on these"  
[X Link](https://x.com/returnoncap/status/1710065418436526427)  2023-10-05T22:52Z [----] followers, 17.5K engagements


"It is mostly determined by [--] variables: 1) How much product is sold and its pricing 2) How much it costs to make the product and run the business 3) how much capital is required to operate and grow the business"  
[X Link](https://x.com/returnoncap/status/1710317872847667596)  2023-10-06T15:35Z [----] followers, [---] engagements


"Companies like $V $MA $MCO and $FICO 1) have abnormal pricing power and competitive positions 2) have relatively fixed costs 3) have very few hard assets and growth isnt achieved through capital investments This creates a formula that is very rewarding to shareholders"  
[X Link](https://x.com/returnoncap/status/1710317876240867661)  2023-10-06T15:35Z [----] followers, [----] engagements


"@ArneUlland Not in order but probably something like this:"  
[X Link](https://x.com/returnoncap/status/1710334733048033557)  2023-10-06T16:42Z [----] followers, [---] engagements


"@ArneUlland I think $KO can return 8-10% over the next decade pretty easily from these prices. Its a royalty business asset light. Truth be told although I love Buffett I dont think Berkshire being so heavy on insurance and capital intensive industries is a good thing or good businesses"  
[X Link](https://x.com/returnoncap/status/1710336431002882285)  2023-10-06T16:49Z [----] followers, [---] engagements


"$TDG culture sounds absolutely awful. If you push managers to make numbers like that of course at some point they are going to make up the numbers. The whole place seems like a formula for bad accounting behaviour"  
[X Link](https://x.com/returnoncap/status/1710582012988305589)  2023-10-07T09:05Z [----] followers, [----] engagements


"is $BTI worth 10x [----] earnings estimates ($55)"  
[X Link](https://x.com/returnoncap/status/1711147269666328964)  2023-10-08T22:31Z [----] followers, [----] engagements


"@TobaccoMistro By who though Not many firms will touch Tobacco"  
[X Link](https://x.com/returnoncap/status/1711150385560273092)  2023-10-08T22:43Z [----] followers, [--] engagements


"@v239856 Thats right and Im also assuming that they don't have any other financing needs. In the past they have had to pay some charges related to things like derivatives out of the financing part of the cash flow statement"  
[X Link](https://x.com/returnoncap/status/1711480013382377879)  2023-10-09T20:33Z [----] followers, [---] engagements


"In a business selling a commodity type product its impossible to be a lot smarter than your dumbest competitor. Recent fintwit examples: Payment gateways memory chips airlines"  
[X Link](https://x.com/returnoncap/status/1711504949450768498)  2023-10-09T22:12Z [----] followers, [----] engagements


"$HSY trading at its mean valuation growing organically stronger on a per share basis. Importantly always maintaining high returns on invested capital. Interest rate assumptions important for this one"  
[X Link](https://x.com/returnoncap/status/1712782712786874562)  2023-10-13T10:49Z [----] followers, [----] engagements


"Im assuming 4-5% average sales growth and operating margins steady around 21-22% over the next [--] years"  
[X Link](https://x.com/returnoncap/status/1712783520668516356)  2023-10-13T10:53Z [----] followers, [---] engagements


"@Fahrweid7 @sinstockspapi @futureformerJD @TwainsMustache @LibrarianCap @DevinLaSarre @GuyTobacco @InvestRoiss Pay down most but not all debt raise the dividend per share by buying back shares. Theres no excuse for not doing a buyback here the value accretion is enormous. They are paying a 9-10% dividend on equity vs probably 7% interest on debt they could roll over. No brainer"  
[X Link](https://x.com/returnoncap/status/1713123794565398719)  2023-10-14T09:25Z [----] followers, [--] engagements


"@MadsCapital @rochonpapi @SleepwellCap @viggy_krishnan UK is stuffed full of weak banks and financial institutions. Nordics have some incredible companies there. France too"  
[X Link](https://x.com/returnoncap/status/1713257664933741009)  2023-10-14T18:17Z [----] followers, [--] engagements


"If a company can perpetually grow its distributable earnings at 6% annually using a 10% discount rate it makes sense to pay $25 for every $1 of earnings. Paraphrasing Buffett in [----] talking about media properties"  
[X Link](https://x.com/returnoncap/status/1713683555354640497)  2023-10-15T22:29Z [----] followers, [----] engagements


"$AMZN free cash flow estimates are incredible turn on the taps Jassy: 2023: $33.4B 2024: $52.3B +56% 2025: $71.6B +37% 2026: $90.7B +27%"  
[X Link](https://x.com/returnoncap/status/1714038374586102017)  2023-10-16T21:59Z [----] followers, 31.5K engagements


"@CCM_Brett $CRM $NOW $WDAY"  
[X Link](https://x.com/returnoncap/status/1714552676086698112)  2023-10-18T08:03Z [----] followers, [---] engagements


"I think one of the hardest things for value investors to learn is that companies that look optically expensive today can very quickly become cheap in retrospect"  
[X Link](https://x.com/returnoncap/status/1714769200361636017)  2023-10-18T22:23Z [----] followers, [----] engagements


"I like $EFX this could get pretty interesting Equifax CEO: ".throughout the quarter we saw U.S. mortgage activity decline to levels below our expectations as interest rates increased.We are reducing full-year [----] guidance.due to the weaker U.S. mortgage market and the impact of foreign exchange" $EFX: -7.6% AH https://t.co/3LP1nkouBn Equifax CEO: ".throughout the quarter we saw U.S. mortgage activity decline to levels below our expectations as interest rates increased.We are reducing full-year [----] guidance.due to the weaker U.S. mortgage market and the impact of foreign exchange" $EFX:"  
[X Link](https://x.com/returnoncap/status/1714770467741978709)  2023-10-18T22:28Z [----] followers, [----] engagements


"Currency exchange has absolutely whacked $PM profits for years. I cant see this reversing enough to compensate completely. It feels quite structural that other western currencies gain advantages when they decline vs the dollar over a long time frame"  
[X Link](https://x.com/returnoncap/status/1715102825083011128)  2023-10-19T20:29Z [----] followers, [----] engagements


"$EFX Government revenue growth of 23% Equifax continues to win and extend contracts for Medicaid redetermination and the USDAs SNAP program 👍"  
[X Link](https://x.com/returnoncap/status/1715448422407311780)  2023-10-20T19:22Z [----] followers, [----] engagements


"$GOOG $GOOGL going on offence"  
[X Link](https://x.com/returnoncap/status/1716511626096980387)  2023-10-23T17:47Z [----] followers, [----] engagements


"@BarrySchwartzBW sure but only makes about $1 - $1.20 of free cash flow on a share price of $63 if you minus out the cash its not exactly a good price even though the business is brilliant"  
[X Link](https://x.com/returnoncap/status/1716917182330966136)  2023-10-24T20:38Z [----] followers, [---] engagements


"What an interesting definition of free cash flow Free cash flow (FCF) or net operating profit after taxes (NOPAT) minus investments in future growth is the foundation of corporate value. FCF is the cash that is available for distribution to the debtors and shareholders. 1/2"  
[X Link](https://x.com/returnoncap/status/1717264836977975565)  2023-10-25T19:40Z [----] followers, [----] engagements


"Companies in aggregate over time issue debt and retire equity. That means that firms commonly use FCF to pay dividends or buy back stock. Total shareholder yield dividends plus net buybacks divided by equity market value is a useful measure of value. A @PronkDaniel favourite"  
[X Link](https://x.com/returnoncap/status/1717264838592704973)  2023-10-25T19:40Z [----] followers, [---] engagements


"$HSY Raising prices and increasing volume. Organic prices rose by 9.8% in the third quarter Organic volumes increased by 0.9%"  
[X Link](https://x.com/returnoncap/status/1717497961121227123)  2023-10-26T11:06Z [----] followers, [----] engagements


"Hey dad who was Warren Buffett"  
[X Link](https://x.com/returnoncap/status/1717969801098764463)  2023-10-27T18:21Z [----] followers, [----] engagements


"Oh so you mean to say that $MTD wasn't worth 50x earnings"  
[X Link](https://x.com/returnoncap/status/1719026779975733572)  2023-10-30T16:21Z [----] followers, [----] engagements


"Its cool to see Charlie Munger sees this too in his latest interview with @AcquiredFM"  
[X Link](https://x.com/returnoncap/status/1719072871023030492)  2023-10-30T19:24Z [----] followers, [---] engagements


"Ken Xei owning $3.5 billion in $FTNT stock whilst running the company is a nice incentive. Stock based compensation is relatively low and ROIC is very high incidentally"  
[X Link](https://x.com/returnoncap/status/1719074948801524201)  2023-10-30T19:33Z [----] followers, [----] engagements


"Is $EL going bankrupt or something Down 66% in [--] years. They have a great stable of brands"  
[X Link](https://x.com/returnoncap/status/1719123946191151229)  2023-10-30T22:47Z [----] followers, 34K engagements


"@Rebrand_As_Y its horrible right now but with some fairly reasonable assumptions to normalise it its not terrible"  
[X Link](https://x.com/returnoncap/status/1719134194075627671)  2023-10-30T23:28Z [----] followers, [---] engagements


"@InnocenceCapit1 @Rebrand_As_Y The impact of continued inventory readjustment in travel retail in Asia is temporary. 10y 7% sales CAGR and long term op margins expand to low 20s from better channel mix in travel retail and digital move away from discounts and heavy promotions in department stores"  
[X Link](https://x.com/returnoncap/status/1719270887373885555)  2023-10-31T08:31Z [----] followers, [--] engagements


"@InnocenceCapit1 @Rebrand_As_Y These are the assumptions btw not my opinion. Theres execution risk underperforming brands and slipping market share. Just think the assumptions are fairly reasonable and the company looks worse and more expensive than it is right now"  
[X Link](https://x.com/returnoncap/status/1719271374244516010)  2023-10-31T08:33Z [----] followers, [--] engagements


"@BradoCapital @stratosphere_io Love these they are amazing. Any chance of introducing a dark mode so I don't fry my eyes during late night research"  
[X Link](https://x.com/returnoncap/status/1719497638171836810)  2023-10-31T23:32Z [----] followers, [---] engagements


"Me a $FTNT shareholder"  
[X Link](https://x.com/returnoncap/status/1720174838042534399)  2023-11-02T20:23Z [----] followers, [----] engagements


"1/3 A quick thread checking in on $FTNT after earnings. Weak billings were the big standout in the latest earnings. The market was quick to sell which I think is an overreaction. Theres still a big opportunity ahead for them"  
[X Link](https://x.com/returnoncap/status/1720379359079305386)  2023-11-03T09:56Z [----] followers, [----] engagements


"2/3 Looks like big customers are spending less on Fortinets firewalls which is causing most of this slowdown. Fortinet want to expand their software and service offerings which showed very strong growth this quarter but ultimately they are still a hardware company for now"  
[X Link](https://x.com/returnoncap/status/1720379361948225791)  2023-11-03T09:56Z [----] followers, [---] engagements


"3/3 Operating margins are holding up they're staying disciplined with spending as expected from Ken. I believe this is just a short-term hiccup. Fortinet has a strong platform and quality solutions that should pay off long term in the consolidating cyber security sector"  
[X Link](https://x.com/returnoncap/status/1720379364372582512)  2023-11-03T09:56Z [----] followers, [---] engagements


"$MTD looks a more reasonable valuation now but its a real shame how much value was destroyed with aggressive buybacks above intrinsic value"  
[X Link](https://x.com/returnoncap/status/1721613075051171936)  2023-11-06T19:38Z [----] followers, [----] engagements


"If you have NOPAT margins this high you have something very special. probably a monopoly/oligopoly"  
[X Link](https://x.com/returnoncap/status/1721671634283610157)  2023-11-06T23:31Z [----] followers, 14.4K engagements


"@InnocenceCapit1 Any extreme following of any ideology causes issues. Football religion politics all of it. Its especially dangerous when you can correctly guess a persons view on topic Y because you know their views about topic X"  
[X Link](https://x.com/returnoncap/status/1721973395334504897)  2023-11-07T19:30Z [----] followers, [---] engagements


"Unless something material changes I think the core holdings of my portfolio will always be high quality companies with regulated moats and total pricing discretion like: $FICO $MCO $SPGI"  
[X Link](https://x.com/returnoncap/status/1722003609712288078)  2023-11-07T21:30Z [----] followers, [----] engagements


"New Yorkers whats the best place to watch College Football and NFL with a good atmosphere"  
[X Link](https://x.com/returnoncap/status/1722744709129363657)  2023-11-09T22:35Z [----] followers, [---] engagements


"Which businesses are going to be better businesses in [--] years with a 90% confidence in that prediction"  
[X Link](https://x.com/returnoncap/status/1723076894310945202)  2023-11-10T20:35Z [----] followers, 13.7K engagements


"Whats a wonderful business going through a probably temporary crisis"  
[X Link](https://x.com/returnoncap/status/1724094339716886636)  2023-11-13T15:58Z [----] followers, [----] engagements


"Its very interesting how $PG has been relatively strong whilst all of the other staple names have been getting whacked by rates recently. Any idea why that is It cant be volume because others have shown that too"  
[X Link](https://x.com/returnoncap/status/1724177609070629337)  2023-11-13T21:29Z [----] followers, [----] engagements


"$V beautiful use of free cash flow to return cash to shareholders. Shareholder yield currently over 3.2% averages about 3% historically"  
[X Link](https://x.com/returnoncap/status/1724192605678850385)  2023-11-13T22:28Z [----] followers, [----] engagements


"@futureformerJD $HSY"  
[X Link](https://x.com/returnoncap/status/1724847123563159641)  2023-11-15T17:49Z [----] followers, [---] engagements


"Over the last few months Ive been making my entry into some new credit positions other than my Treasury Bills. For example in October I acquired $TDG 6.25% [----] paper when it was trading at 96"  
[X Link](https://x.com/returnoncap/status/1727151809456668904)  2023-11-22T02:27Z [----] followers, [----] engagements


"@usernavn I guess so I wasnt counting it because it doesnt produce cash flow"  
[X Link](https://x.com/returnoncap/status/1727674048321081499)  2023-11-23T13:02Z [----] followers, [--] engagements


"@Inves2grow $AMAT $LRCX $ASML"  
[X Link](https://x.com/returnoncap/status/1728484826515439938)  2023-11-25T18:44Z [----] followers, [---] engagements


"The $AMZN margin expansion story continues"  
[X Link](https://x.com/returnoncap/status/1728895510466150690)  2023-11-26T21:56Z [----] followers, [----] engagements


"@PythiaR Is the management team legit Every time I try to read about them all I see is bad press about them"  
[X Link](https://x.com/returnoncap/status/1729515243708043420)  2023-11-28T14:59Z [----] followers, [----] engagements


"To the grifters and anon thread accounts using Charlies death for engagement bait ("99 quotes"): you are the worst total charlatans"  
[X Link](https://x.com/returnoncap/status/1729836956685578261)  2023-11-29T12:17Z [----] followers, [----] engagements


"With Warren Charlie and Tom Murphy passing on or being in advanced age who are the next generation of business leaders who can be our operational/moral and capital allocation north stars"  
[X Link](https://x.com/returnoncap/status/1730646358950900168)  2023-12-01T17:53Z [----] followers, 39.3K engagements


"I really liked the part of this conversation when Guy talks about how companies like Ferrari and Hermes could be viewed as an asset such as Central London land or a jewel thats impossible to recreate. Hermes is a company I follow closely and Id never thought about it that way"  
[X Link](https://x.com/returnoncap/status/1731780973363175766)  2023-12-04T21:02Z [----] followers, [----] engagements


"@fightoracle Valuation matters whats the point of buying something at 50x All of its amazing qualities are already priced in. If you think the markets are efficient always then the logical conclusion would be to buy the index. My conclusion has been to wait until they are inefficient"  
[X Link](https://x.com/returnoncap/status/1732001552221589738)  2023-12-05T11:38Z [----] followers, [---] engagements


"@fightoracle $SPGI for example I own it but I wouldnt buy it or add with new money at this price. I am instead earning 5% in short term treasuries whilst I wait for a price that will give me a good return. I agree inferior companies are not the answer but blindly buying isnt either"  
[X Link](https://x.com/returnoncap/status/1732006674435555404)  2023-12-05T11:59Z [----] followers, [--] engagements


"Patience is the only advantage people that don't need to be invested all the time have. It reminds of when Munger said that you need to be a spear fisherman patiently waiting on the river bank for the moment that a juicy fish swims by. The dull stretches are the price we pay"  
[X Link](https://x.com/returnoncap/status/1732061416998195661)  2023-12-05T15:36Z [----] followers, [---] engagements


"To the low cost tax advantaged index fund investor that marches to the beat of saving as much of their salary as possible to DCA I salute you and your rationality even though you will never spend a moment on FinTwit to see this"  
[X Link](https://x.com/returnoncap/status/1732102591696224608)  2023-12-05T18:20Z [----] followers, [----] engagements


"@KoyfinCharts $EL sticks out to me there"  
[X Link](https://x.com/returnoncap/status/1734592508938633538)  2023-12-12T15:14Z [----] followers, [---] engagements

Limited data mode. Full metrics available with subscription: lunarcrush.com/pricing