☕ Club Cafe
This is the main area of our club, where I shall post articles of topical interest. Feel free to comment and share, and please give us feedback on what sort of articles you would like to see. If you are not a member, you can join here. Members can post in the Forum and specialists can post in the other dedicated areas.
This is a great essay by Paul Graham on the need to cultivate curiosity to maintain independence of mind - this is a factor critical to investment success.
The three components of independent-mindedness work in concert: fastidiousness about truth and resistance to being told what to think leave space in your brain, and curiosity finds new ideas to fill it.
I really enjoyed this short read.
I was very flattered to be asked to be the first guest presenter on Carson Block's new TV channel Zer0es TV, where I explained the story behind Patisserie Valerie. I just discovered a new blog which has summarised the lessons so far on the new channel. Worth a read.
Came across this list of potential shorts (apparently from JPM) randomly on social media. I have not studied it, but am going to take a look. Obviously the Zooms and Pelotons will be in there but there are others like Logitech, peripheral manufacturer (including popular webcam) where it looks to be more of a valuation concern. Worth a look.
Interesting piece on the outlook for earnings by John Authers. Suggests that my caution has been misplaced, but I am not sure why Starbucks said "we finished the quarter with the comparable store sales decline of 4% for the month of September". I believe them, obviously, but it's a surprising result. Worth reading this.
To get my book off to a good start, the Kindle will be just 1.99 for one day on November 24. Please make a note in the diary to buy the book at this daft value investor price and please leave me a review. I am super excited about it as you can see from this video where I open the box with my author copies. Thanks!
In the Library under Current Markets and Outlook Q4 20, you will find a digest of US cities daily economic activity - this is a really helpful tool when analysing the Covid recovery and in each area. Cascend have some interesting ideas on applications eg using electricity consumption to track air conditioning usage and assess ESG impact etc. I have attached below for ease.
Circle is now beta testing the iphone app. This should be a big improvement over the solely desktop version. You are free to join the beta test here. I downloaded Testflight on the App store then clicked this link and was in straight away and I think it looks quite good - let me know what you think.