Leandro @Invesquotes

Equity Analyst researching high-quality companies at Best Anchor Stocks and Invirtiendo en Calidad. Spanish account: @InvEnCalidad bestanchorstocks.com Madrid, Spain Joined November 2020

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Leandro @Invesquotes

10 hours ago

@Midnight_Captl @MalkiTzedek76 Agree with it being a good reference point but I do think the revenue base matters!

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Maybe I am getting this wrong but isn’t $100B across 5-year SCAs equivalent to $20B in comitted annual revenue? Assuming the run-rate revenue is $200B that’s like 10% “recurring” revenue and likely far from meaning that it’s now a secular biz Might have interpreted it incorrectly though $MU

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Leandro @Invesquotes

10 hours ago

@MalkiTzedek76 @Midnight_Captl This metric doesn’t tell you much if you don’t know what revenue they are forecasting no? Or did they give an estimate?

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Leandro @Invesquotes

10 hours ago

@Midnight_Captl Yep, $200B seems conservative and good point on them keeping options open but would be strange if you want to demonstrate recurrence! No clue

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Leandro @Invesquotes

10 hours ago

@GutierrezCap_ I’ll take the under, especialmente en margenes

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Leandro @Invesquotes

10 hours ago

Not a memory bear and those were some outstanding earnings by $MU (don’t have to be a genius to see it) but some of the takes one can read tonight are probably going to age very poorly

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Leandro @Invesquotes

11 hours ago

@Midnight_Captl @JerryCap Absolutely crazy how much content there’s on reels that comes from the glasses

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Leandro @Invesquotes

15 hours ago

@JerryCap No wonder they didn’t want CSU coming in

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Leandro @Invesquotes

15 hours ago

@themattharbaugh @DrewCohenMoney Thanks a lot Matt 🙌

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Leandro @Invesquotes

a day ago

Everyone is talking about AI right now in the context of semiconductors/LLMs... ...but few are looking into what AI will enable. The drug pipeline is likely going to enjoy considerable tailwinds going forward. Here's an infographic with the main players across the value chain

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Leandro @Invesquotes

15 hours ago

@growthyinvestor I looked at this and Simulation Plus but they seem to be quite poorly managed no? And also are more like consultancy businesses than software (might be wrong but that’s the impression I got at first glance)

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Leandro @Invesquotes

15 hours ago

@dcurras1 No clue, looking into the space now!

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Leandro @Invesquotes

15 hours ago

@GrumpierBTDay Likewise, recency bias is real and hard to overcome!

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Leandro @Invesquotes

16 hours ago

It's actually pretty crazy because you only need a "bottleneck" to last a certain amount of time for investors to start clamoring that a company has a "moat" Moats and bottlenecks look the same during supply/demand imbalances, but look very different over longer timeframes!

Pythia Cap: Partially Conductive @PythiaR

a day ago

And importantly the nonlinear step up in quality between a monopoly and an oligopoly. A monopoly actually sets the supply of its product ( $ASML), an oligopoly is reliant on the kindness of strangers and there is almost always one stranger out to fuck you at some point.

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Leandro @Invesquotes

15 hours ago

@valiovalentino 🤝

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Leandro @Invesquotes

20 hours ago

Would love to take this to 10k readers! Interestingly, I have 9.4k readers but 17k+ followers on S*stack. Growth has seen an inflection since the Robotics piece and I am already working on my next in-depth report. Game on!

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Leandro @Invesquotes

15 hours ago

@GrumpierBTDay I think it’s fine to follow both types of situations but knowing what they really are. Nothing wrong with investing in a bottleneck if you don’t confuse it with a long duration competitive advantage imho

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Leandro @Invesquotes

16 hours ago

@ReneSellmann Likewise Rene! I mean I understand it because incentives are very powerful, but we’ll keep pushing 🤝

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Leandro @Invesquotes

16 hours ago

@DrewCohenMoney Thank you Drew and can 120% say the same thing about you!

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Leandro @Invesquotes

16 hours ago

@Opu61659893 More than a buildout I think it’s a return to normal with the secular trends intact and accelerating: biologics, injectables etc

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Leandro @Invesquotes

17 hours ago

The healthcare supply chain was a pretty significant bottleneck during the pandemic. Many companies were bid up significantly on hopes of sustained demand and ended up suffering overcapacity once demand faltered. So, investors experienced the triple whammy: 1. Decelerating growth 2. Falling margins 3. Inflated multiples (You probably get the exact opposite today, but it took a considerable amount of time to get here, arguably more than anyone anticipated) Obviously the demand for AI has nothing to do with the demand stemming from a pandemic (although this is easy to say in hindsight), but the healthcare episode demonstrates that once bottlenecks are "solved" (all eventually are) the other side of the story is quite painful and a lot of people are unlikely going to be able to time the top Just my 2 cents (cries with HC bagholder vibes)