Business collector🚬🏋️♂️🛩️. Tweets are not financial advice & should not be construed as solicitations. They are for informational purposes only.
Leawood, Kansas
Joined May 2015
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Most moats are overrated, and the most durable moats are found in industries where chance of technological disruption is minimal (rails, airports), regulatory hurdles are insurmountable (tobacco), & growth is so low it doesn't attract competition (old industrials)
Every time I travel the Interstate, I am struck by two things:
How impressive the Interstate is and how fragmented trucking is. There must be a million different carriers.
Made it to Louisville and met up with the powerlifting legend, @gs072887. No time for deadlifts, but we did get in an easy run.
Probably in the minority here, but my favorite plays in baseball are not bombs, but guys throwing lasers around the diamond
I listened to a podcast with the owner of EJ Willis Co, which has been making brass bells for the US Navy and Coast Guard since 1888. Very cool story and very cool business with high-end, niche gifts.
ejwillis.com/
Lawrence Hamtil retweeted
A great interview conducted by our local legend @lhamtil and his co-hosts of Horizon Kinetics' Director of Research and Portfolio Manager of the Inflation Beneficiaries ETF, James Davolos. Give it a listen.
Episode 38!
We got to interview James Davolos, Portfolio Manager and Director of Research of Horizon Kinetics.
James gives an overview of Horizon’s contrarian value approach, we then discuss the broad topic of inflation, and then move on to some specific companies that are in the portfolio of Horizon’s Inflation Beneficiaries ETF ($INFL).
I've stumbled across the ultralight aircraft corner of Instagram and now I'm tempted to make an ill-advised purchase
In retrospect, Micron's inability to hold a gain after its most recent results was probably a good tell for the momo guys
Seems like a lot of people try to make up for missed savings by taking more risk, & I think that is misguided; the further behind you are, the thinner your margin for error, so tread carefully
This was a great conversation with James about his background, risk management, structural inflation, resource scarcity, the allure of resource royalties, and much more.
Enjoy!
Episode 38!
We got to interview James Davolos, Portfolio Manager and Director of Research of Horizon Kinetics.
James gives an overview of Horizon’s contrarian value approach, we then discuss the broad topic of inflation, and then move on to some specific companies that are in the portfolio of Horizon’s Inflation Beneficiaries ETF ($INFL).
Looking at a few painful instances where I sold on a thesis break only to have the sold stock take off after the fact, I realize that the breakdown is not in the discipline of selling in these cases, but not taking the time to revisit and see if it merited reentry.
Amazing feat by our favorite Canadian powerlifter. Congrats 👏
The AI build out has been compared to the railroad build out in terms of size relative to the economy, but nobody seems to remember the second part, which is that railroads as an industry didn't generate significant cash for another ~100 years after the build out began.
In this house, we believe that Andrew Mellon was a patriot and FDR a demagogue; therefore, I am looking forward to reading this book
amazon.com/dp/1668023695?lv=…
