Incremental Insights #22

Cash!

Is Warren Buffett bracing for a market downturn?

Berkshire Hathaway's cash reserves have swelled to over $300 billion, sparking widespread speculation. However, this massive cash pile might not be purely bearish positioning. Instead, it's likely a consequence of Buffett's extraordinarily successful Apple investment.

15 Minute “Stock Pitch” Ride

Why David Einhorn and Greenlight Capital started a position in beaten down Peloton.

Hint: Subscriptions and recurring revenue.

New Titans of Wall Street: How Jane Street Rode the ETF Wave to ‘Obscene’ Riches

How Jane Street's unique culture, technological edge, and willingness to tackle complex financial instruments have propelled it to modern finance's forefront and led to its domination in the ETF market.

Industry is Not Destiny

Why company-level analysis trumps industry analysis and how great businesses can thrive even in mediocre sectors.

KNA Capital Management's Todd Wenning on making sense of the upside with Ecolab (Podcast)

Todd Wenning breaks down his thesis on Ecolab Inc. (NYSE: ECL), a global sustainability leader offering water, hygiene, and infection prevention solutions and services. Why margins should should expand and why water is a big driver of its future growth.

Peloton, The Fitness Craze That Couldn't Last

And how Peloton became a beaten-down stock for Greenlight Capital to buy.

Why Chris Hohn & TCI Own GE Aerospace

Chris Hohn runs the multi-billion dollar hedge fund The Children's Investment Fund (TCI). As of 2022, the fund generated annualized returns of over 18%. In 2023, TCI's return soared to 32.7%. TCI achieves these impressive returns by focusing on a select few great businesses with

Incremental Insights #21

The Ten Best Companies in the World From Visa's global dominance to Hermès' luxury legacy, the 10 powerhouse companies reshaping the business landscape and what makes them the 10 best global companies. Pricing Power Everywhere Companies with pricing power have significantly outperformed the broad market over long

From MTV to Mammograms: Unexpected Lessons in Risk Management

In 2020, former MTV VJ Ananda Lewis announced that she had stage 3 breast cancer. She discovered the tumor during a self-examination not through a regularly scheduled mammogram. She revealed after her diagnosis that she had actively avoided mammograms, despite having a family history of breast cancer. Her reason? She

Incremental Insights #20

Brambles - Some Thoughts Wooden pallets a high returning business? But can the company overcome its questionable history of capital allocation, stay focused on its core business, and improve its asset productivity? Why Quality Stocks Perform So Well Why do high-profitability 'quality stocks' outperform their less profitable counterparts?