That is very cool

The Ellison's are truly fucked by the way. Oracle is completely and utterly fucked. Their legacy healthcare software biz center acquisition is also a dumpster fire. They are levered to the balls on future revs they will never see.

Europoor debate: comparison of incomes excluding top 5% of earners.

sethackerman.substack.com

It might be part of a broader plan www.zinebriboua.com/p/under-beij...

in today's edition of: "Everything becomes a toaster"

$HRB

H&R Block was a growth stock in the 70s-80s. Had a P/E of somewhere between 25x-40x in early 90s. Does much the same thing today as in the 80s/90s.

Amazingly, >50% of Americans filed their own returns in the 80s vs. ~45% today.

YouTube video by Steve Eisman The Next Financial Crisis? Private Equity, Private Credit & Life Insurance | Real Eisman Playbook

Eisman podcast on the private credit / life insurance nexus is a strong reccomend.

youtu.be/a7MM0UnQ4o4?...

Maybe before FIFA, the Federation International of Finalmost Adjudication?

When $NYT started succeeding in becoming a digital subscription biz, EBITDA margins were still low, 13%-16%. Meant lots of potential op leverage once digital investments were more set. Seems like it has finally started coming through. I wouldn't be surprised if in 5 yrs they're at 25% EBITDA margins

The Rollup of Tomorrow Vol. 13: Don’t worry about Constellation Software, it’ll be fine! A portfolio manager talks growth, customer focus & AI

Good podcast by the GM of a equipment and farm dealership software company inside Constellation $CSU

open.spotify.com/episode/7IN2...

Based on a constant 2015 USD,

Canada's gap to US GDP/capita was 24% in 2017

After 2020, our economy in Canada completely stagnant

Now gap is 33% and Canada still growing a fair bit slower than the US

At what level is it basically like Portugal, cannot retain any top talent at all, truly over

Lol interesting, I always just assumed Singapore / temasek were quite savvy.

.......... and scene!

Wtf

$BAH Booz says the same. $SAIC saying new contracts are ramping up extremely slowly and not converting to revenue as expected.

for e.g. huge $4.2B locomotive order from Kazakhstan signed late last year. $WAB

I'm a bit surprised the business has continued to do as well as it has even as Class 1 rails' capex has been weak.

Goes to show, their transit rail business (mostly ex US) and international freight rail revenues have grown nicely.

$WAB still doing very well. Install base of railcars and locomotives has probably been stagnant for almost a decade in NA but aging fleet requires more mods/spares/services.

International fleet continues to expand very nicely.

☠️

Barry Callebaut blessed by the rains down in Africa

Lol $SDF Steadfast in Australia is down 13%

a man in a suit and tie is crying and says " look how they massacred my boy " ALT: a man in a suit and tie is crying and says " look how they massacred my boy "

$WTW going down 11% bc ChatGPT is offering home insurance quotes online.

Regional banks are surging but so are stocks like $PEP -- still not sure if this is a "fundamentals rally" or just a vicious rotation out of software and the Mag 7 into everything else:

lol

How high can Amazon retail margin get? In north America

dear god that's messed up.

your mom, rightfully so, probably did not trust the local system at all

I recall reading something this year about Uttar Pradesh, one of the most backward and least developed places in the world, finally ridding the state of encephalitis in 2025.

YouTube video by Insightful Investor #100 - Rajiv Jain: AI Hype Echoes Past Tech Bubble Risks

Thought this was pretty good. Good grasp of data points and history.

www.youtube.com/watch?v=4Z-M...

☠️☠️

I have a sweet spot for these types of businesses bc they're so boring and viewed as "legacy" tech so they trade cheap despite being pretty durable and stable.

But if shit like this is trading at market multiples, I am cooked.