RAMco Capital

$FICO management once more

@LoganCroixCo @ohcapideas Yet

@ohcapideas M doesn’t have the buybacks $DDS had… Also how do you know it’s not Greg?

People freaking out about Berkshire buying $M. Yea, it’s probably just a dumpster fire. But people forget that Ted made insane amounts on money in Dillards. If the man wants to speculate with $50 million in Macys, then go for it.

@Larryjamieson_ @ToddWenning I was surprised all of the Liberty investments weren’t Ted.

@ToddWenning Liberty complex going

I see the sell-off of “Todd’s stocks” as strange investment team behavior. There should be team-level conviction in at least some of the names. So any investment stays only as long as the idea generator is still around?

And bye bye $v and $ma for $brk

$BRK dumped $dpz?

For garpy investors, $Mck doesn’t look horrible here.

@Arbtrader69 @JulianKlymochko Same here. I’ll try the triple dose one day. Yeah, creatine makes me feel a bit weird if I don’t have close to a gallon of water that day.

@RAMCOCAPITAL @JulianKlymochko It's crazy. I take 5g daily w coffee. Didn't sleep well one night, felt like crap so took 15g. An hr later felt 'normal'+ alert, although I was thirsty all day. Not a coffee buzz, just normal.

I really have to stop taking those red-eye flights. But then again, they’re just so damn efficient! Surprisingly on point all day with just 1.5 hours sleep.

@Arbtrader69 @JulianKlymochko Does it? I saw some ultra runners taking it but results seems mixed.

@JulianKlymochko Try 15g of creatine. It works on sleep deprivation so well w no side effects

@numberfriends @4WhomJBellTolls I believe that’s simply referred to as the Baker Mayfield Experience.

@4WhomJBellTolls A significant park of Egbuka’s decline was how ass Baker played to end the year.

Young players we are aware were injured and had a noticable production decline afterwards: Emeka Ebguka Rome Odunze Xavier Worthy Quentin Johnston Players we know were injured but had no decline:

$celh flat over three years? So I get Alani for free?

@BluthCapital Still burning cash for homes.com?

$CSGP sitting right at the nadir of its Dec18 Powell "Autopilot" crash That's 5.5 yrs of rev growth for "free" 5.5 yrs of price growth erased in 9 mos. Self-inflicted wounds largely - "a biz so simple a fool could run it bc someday one will" etc. Got long.

@PythiaR @TMTLongShort @BoringBiz_ Having a poor father is unlucky, having a poor father in law is bad planning.

@TMTLongShort @BoringBiz_ The biggest ROI move you can make is marry someone smart & rich

@ThierryBorgeat We really throwing around “duopolies” quite loosely.

The Duopoly Portfolio – S&P Global and Moody's $SPGI $MCO – Visa and Mastercard $V $MA – Eli Lilly and Novo Nordisk $LLY $NVO – Pepsi and Coca-Cola $PEP $KO – Thermo Fisher and Danaher $TMO $DHR – Cadence and Synopsys $CDNS $SNPS – L’Oréal and Estée Lauder $OR $EL Why are duopolies so interesting? First, in most cases they have a wide moat. This means they can fend off competition, have high profit margins, strong cash flows, and can reinvest their capital at high returns. Second: market share gains. Companies cannot always beat every competitor, which leads them to target weaker rivals and avoid stronger ones. They continuously take market share from the weaker competitors. The duopoly (or oligopoly) only strengthens further. All of this leads them to the third, very significant long-term factor: the compound interest effect. Because they are of such high quality, incidentally gaining market share and able to reinvest their capital at high returns, investors struggle to account for the long-term effects of compounding. They are essentially cheaply valued, even if it doesn’t look that way in the present, because the compound interest effect has such a powerful influence over the long run. Example of two companies with a 20-year ROIC return: A with 18% return on capital turns $ 100 → $ 2’739 B with 6% return on capital turns $ 100 → $ 321 Quite a difference, isn’t it?

@returnoncap He’s owned it for years.

Chris Hohn owns 8% of Vinci as of the end of 2025. Probably because of its concessions segment that operates motorways, airports, railways and stadiums.

@evrgn11112231 @Beutty @PrefShares @rev_cap @viggy_krishnan Didn’t he say that on a pod though? I’m guess he just has cap allocation concerns.

@Beutty @PrefShares @rev_cap @viggy_krishnan He cares about moats. Meta is the most moated of all the hyperscalers. Her will figure that out as will the market one day.

@ohcapideas @GuyTalksFinance I bet people would love it at 3x book

@GuyTalksFinance You think Berkshire is worth almost 3x book value?

Berkshire Hathaway is a $1,000 stock that’s selling for only $475/share. Buy the discount while you can $BRK.B

@ErnestWongBWM Probably not any worse than selling $cost $Wmt not buying $GOOG early. I’m guessing the only way you make it so long is having a short memory.

Do you think Buffett feels bad about selling $TSM at the low 70s in late 22?

@PythiaR That $chtr dump was legendary tho

Remember Chris Hohn dumped his basket of semicap he bought years ago after like a quarter.

@marc_slans Prob infra names

Is he buying $META instead?

@returnoncap At least this partly explains why the stock has been weak.

Do I own a ton of Kodak…

@evrgn11112231 Still like it here?

$TSM is the safest stock in semis IMO. They are so capacity constrained that even $AAPL can’t get capacity. If you know the history of these companies you would understand how big of a deal that is. AI demand could meaningfully disappoint and they would still likely be fine imo.