Paid for Patience 🏆

Biggest secret to investing: Its nearly impossible to make money when you want/try to What do you do? 1) Research everyday 2) prepare/update your spreadsheet(s) 3) Most importantly: wait for the oversized opportunity to come and attack it with force and consistency.

@realroseceline Do what is best for you Don't feel pressured Anything can happen in markets and anything will happen Twitter is just entertainment and a distraction anyway Real investors know the gains are made in isolated deep research and deep uninterrupted thought. $now has been a beast

I’ll be honest, I didn’t sleep last night and I’m a bit irritable. I shared my $NOW buy because people keep asking what I’m buying or selling, and I wanted to oblige, not because I’m looking to debate or defend it. I’m not here to justify my thinking or argue over PE, SBC, EPS, FCF, GAAP or non GAAP, or whatever angle you want to take. I’ve been doing this for almost 20 years and I’m more than comfortable making decisions on my own. Investing isn’t a group activity. If your conviction depends on consensus or justification, you don’t have conviction, you have a vote. Markets don’t pay you for agreeing with the crowd, they pay you for being right when the crowd is wrong. Everyone wants to argue about a multiple or a quarter or whatever, but very few people actually think through a business over 5 to 10 years. Look at your own behavior. How many stocks have you held for a decade? What does your transaction history in your brokerage actually look like? Nothing against discussion, it’s just not how I invest. When I share a buy or sell, it’s simply that, sharing. Not an invitation to debate, convince, or relitigate the work I’ve already done. Going forward, I won’t be sharing my trades publicly. Not because I have anything to hide, but because this experience left a sour taste in my mouth. 🌹

@BramVGenechten Always looks like a good opportunity but I just can't get over they were hacked

Fortinet hasn't moved much. Undervalued? $FTNT

@varuninvesting One thing is certain LLMs changed search which has to hurt search dependent companies

Earnings season is about to stress-test every thesis in your portfolio. 3 questions I want answered next week: 1. Is AI actually disrupting software or is the market just panicking? $NOW dropped 18% today I want to see if there's a real difference between the results for vertical vs horizontal software, and mission critical vs nice to have. 2. Is the AI spend actually working? Everyone keeps saying "AI adoption" but the real question is whether any of that spending is actually showing up in results yet. Watch Azure, Google Cloud, and AWS growth and Meta's margins. 3. Can anything actually kill the payment rails? First it was fintech. Now it's stablecoins. Every year something is supposed to eat Visa and Mastercard and every year the moat holds. Watch Cross border volume this quarter

@realroseceline You're right it reflects the lack of a quality investment Something worth thinking about Even a couple horrible quarters don't tell the story Forensic accounting absolutely does run the risk of tricking you out of a good investment Been there, done that, have the scars

Businesses don’t change direction in 90 days, but sentiment does. In fact too many updates just increases the chance you’re going to get influenced and do something dumb you’ll regret later. Anyway, in my humble opinion it’s useless if you need an update every 90 days or every 2 days that’s life….

I genuinely hate earnings season. It’s fine to get an update on how the business performed over the last 90 days, but it comes with so much noise. Excitement, optimism, pessimism, overreactions, and endless opinions, it’s largely a distraction. The biggest mistake people make is treating earnings like the end game when it’s really just a temporary scorecard. A single quarter tells you almost nothing about the long term trajectory of a business. Stocks can move 10% or more overnight while the actual value of the business barely changes (both to the upside and to the downside). Businesses don’t move in a straight line. Sometimes you get a tailwind, sometimes a headwind. Some quarters are strong, some are weak. That’s just the reality of operating in the real world. What actually matters is free cash flow per share and the underlying economics of the business. Buybacks, dilution, reinvestment, returns on capital, etc. That’s where the real compounding happens, not whether EPS missed by a few cents. If you owned 100% of a private business, you wouldn’t care about one quarter. You’d care about what it earns over years. Public markets just make people forget that. That’s why earnings season creates so much useless volatility. 🌹

@CapexAndChill No more $meli posts or x will lose users

Some highlights from $MELI's latest proxy statement. > MercadoLibre achieved 28 consecutive quarters of revenue growth above 30% YoY. > Total revenue reached $28.9B. > The commerce platform generated $65B in GMV. > The platform sold 2.4B items and served 121M buyers. > Mercado Pago, processed $277.4B in payments. > The fintech platform maintained 77.9M monthly active users and held a $12.5B credit portfolio. > Operations heavily utilize AI. 95% of employees use generative AI on a daily basis, and 30% of the company's code is written using AI tools.

@realroseceline You aren't wrong but some people own these and have to assess if it is time to exit, hold or double down Or if a thesis is playing out like if $u vector AI is accelerating rev without increasing opex Qtr financials can tell you if the market reaction is getting it wrong

@freedbyfinance If you need an update every 90 days you don’t own a business you own a headache and a liability

@realroseceline Depends which types of businesses you invest in If you like risk you better monitor the financials If you like moats, you don't care.

@freedbyfinance Why u need a status update every 90 days?

@Brian_Stoffel_ @ContrarianCurse Look at them NOW 🤣

@ContrarianCurse That's the whole point. They HAVE to do AI -- but that doesn't mean the unit economics will be the same on the other side

Consider the margin compression. Right now, 50% of new revenue is NON-SEAT BASED Great, right? Except, cost of good sold grew 44% while revenue grew 22% Subs gross margins contracted 360 basis point y-o-y

If $meli went up every time someone posted about it on Twitter we'd be north of $3000 a share by now

$CPRT obliterated but still sports a 5 PEG and 7 P/S No thanks. Pass. You couldn't pay me to buy this stock.

@deepvalueco I knew they were in Mexico but surprised to see they are in other countries as well It would be great to finally enter the name on weakness but I'd be lying if I said there aren't some other compelling names in retail

@freedbyfinance In Canada, mostly, yes. They're no longer only in Canada.

DOLLARAMA is probably 9-12 months from being attractive here. Still needs to catch down a bit on valuation imo

When buying ask yourself: Do I like stocks that go up or do I want to buy something that looks cheap? Yeah it feels good to get a deal BUT you can buy something that looks expensive but will reward you with gains almost immediately Think about it Both can be right or wrong

Time will tell but I don't think the drastic pullback in $tri is warranted But I am biased it's been my largest position for over a decade

@davegirouard You'd think it would be up more on this announcement

Another big win for $UPST: $1.2B 2-year partnership w/ Centerbridge. ir.upstart.com/news-releases/…

Hot take: in the not too distant future $WW will go up more in one day than its entire share price today.

@PaulAndreola AEP.V

Boring Canadian microcap cement company $CEMX.T

Do nothing Don't make trades Don't post on twitter Thank me later

@realroseceline @qualityequities I want to flex my financial analysis prowess on you but you never miss

@freedbyfinance @qualityequities 😭

$UBER Uber is down about ~23% from its all-time high. A 6.23% free cash flow yield and a PEG of 0.77 is rather attractive for such a high quality business. Why aren’t you bullish?