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@steadycompound
Thomas Chua
$36.7M follower assets
I break down investing concepts & business models 📫DMs open
36 following440 followers
Digital ad revenue


2020: $15.92B
2021: $24.18B
2022: $31.43B

Instagram:

2020: $16.99B
2021: $25.62B
2022: $29.79B


2020: $5.56B
2021: $7.79B
2022: $9.27B

YouTube:

2020: $4.53B
2021: $6.50B
2022: $8.02B


2020: $0.83B
2021: $1.54B
2022: $2.25B
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Sachiv
@passiveinvestor06/15/2022
Interesting to compare the evolution vs the potential for each company.(eg $MSFT and their cloud Xbox launch which could ignite digital ads?!!!).

If he interested to see ad revenue breakdown by platform partner - $GOOG $TTD $PUBM $ATY and others… and idea where/how to compile that data?
+ 3 comments
Want to become an investor?

Study these concepts:

-Return on Invested Capital
-Operating Leverage
-Economic Moats
-Unit Economics
-Optionality

Joey Hirendernath
@joeyhirendernath06/13/2022
Essential concepts! Would be cool if we could link the best resources that explain or deep dive into the following concepts :)
+ 2 comments
We have all read Peter Lynch's One Up Wall Street.

But few people know that he wrote for Worth Magazine from 1992 to 1999.

It's a 181 page bonus scene to his best seller.

Here are my biggest takeaway:
Steady Compounding
The Secret Writings of Peter Lynch
Admission Open: We have opened admission to our investing course for beginners. If you like to learn how to analyze and
The Secret Writings of Peter Lynch

Joey Hirendernath
@joeyhirendernath06/10/2022
Wise words from Peter Lynch . I think what is the especially poignant now is - "The best time to invest in cyclicals is when the economy is at its weakest, earnings are at their lowest and when public sentiment is at its bleakest." History shows us that time heals all wounds.

Excellent Post Thomas thanks for sharing
+ 1 comment
I am taking down my Amazon research report paywall for the next 48 hours.

After 48 hours, paywall will be back up.

Check out my $AMZN research report here:

Steady Compounding
Amazon: The Ultimate Spawner
Amazon is a different beast from when it first conceptualized in 1994, where Jeff Bezos had the idea of building
Amazon: The Ultimate Spawner

Conor
@conorvalue05/27/2022
This was an incredible read, Thomas! Thanks for making it free for me to read.

Of course, my question after reading this is: who is leading in edge computing and how soon can I invest in them?

Oh yeah, I already own $AMZN and will continue to in the future
+ 6 comments
A list of CEO letters you should read:

  • Joey Levin, IAC
  • Jack Welch, GE
  • Jeff Bezos, Amazon
  • Prem Watsa, Fairfax
  • Warren Buffett, Berkshire
  • Mark Leonard, Constellation
  • Jamie Dimon, JPMorgan Chase
  • Bruce Flatt, Brookfield Asset Mgt
  • Steve Markel & Tom Gayner, Markel

The Berkshire AGM is back in Omaha after 2 years.

Great to see Warren & Charlie being sharp as ever.

My key takeaways from this year's $BRK AGM:

  1. The stock market has become noisier than ever

Institutions make money from you buying & selling.

They want to teach you how to trade these call & put options.

There has been an explosion of options used for gambling activities.

But this crazy activities gave opportunities.

  1. Progressive has done a better job than GEICO in recent years.

Both in terms of margins and growth rate.

The biggest reason is Progressive’s telematics for segmentation in matching rate and risks.

It will take a while for GEICO to catch up.

  1. A lot of financial advisory business are charging for investing skills yet delivering closet index results.

Everybody does the same things because they are worried they will lose their fees if they are too different.

  1. Being a better person in the second half of your life

You have had a chance to see how stupid you were.

Figure out what makes you happy.

Be more sensitive to what make others unhappy.

Be a better version of yourself.

  1. Nuclear attack is the great risk to Berkshire Hathaway Insurance

It’s a very tiny risk, but with huge repercussions.

There’s no way of protecting against a nuclear attack.

Charlie Munger: “I’m gonna crawl under the table and kiss my ass goodbye.”

  1. How to deal with inflation

The best thing to do is to be exceptionally good at something.

If you are the best at whatever it may be, people are going to pay you well and that value can’t be destroyed by inflation.

Nobody can take away your talent.

  1. Learning, unlearning and relearning

Buffett started out very interested in technical analysis.

Spent hours charting, buying stocks and tried shorting.

The light bulb went off after reading chapter 8 of The Intelligent Investor.

This a-ha moment repeated many times in his life.

  1. How does Charlie use multi-disciplinary framework in making decisions.

Know more than one discipline.

To a man who carries only a hammer, everything looks like a nail.

You’ll make a lot of mistakes if you don’t have a combination of disciplines.

  1. Predicting inflation

Some will speculate to make money or for prestige to make themselves sound smart.

The truth is nobody knows.

Not all companies will be impacted the same.

The company that requires less capital will fare better than those who requires plenty.

  1. Getting the shareholders you deserve.

It’s easier to keep a good shareholder base than to attract new ones.

To Warren, companies that continually upsell their stocks to attract new shareholders are crazy.

Especially when it comes to overpromising for short-term results.

  1. Activision Blizzard purchase

Since Microsoft announced acquisition at $95 per share, it becomes a different kind of security.

The strategy is affectionately known as a workout, or arbitrage.

Now Berkshire owns 9.5% of Activision Blizzard as he think that there’s a good chance the deal will succeed.

  1. Is Charlie worried about China?

The Chinese government has worried US investors more in recent months than in periods.

But investing in China you could get much better companies at much lower prices.

He’s willing to take a little risk for this.

  1. Lack of bureaucracy at Berkshire has made the company a lot of money.

For example, once a year Jack Ringwalt of National Indemnity would get pissed at the regulators and offered to sell his business.

There was only a small window of opportunity to snap this opportunity.

  1. Comparing today’s inflation with the high inflationary period of the past: nothing in economics is the same the second time.

The first time their attitudes are affected by the incident.

The second time their attitudes will influence the activity itself.

  1. Buffett’s views on Bitcoin
“If you told me you owned all the Bitcoin in the world, and you offered it to me for $25, I wouldn’t take it because what would I do with it?”
  1. Munger’s views on Bitcoin

“I’ll show you something that in my life, I try and avoid things that are stupid and evil, and made me look bad in comparison with somebody else. And bitcoin does all three.”

  1. People are becoming increasingly tribal It can get very dangerous.

People lose rationality and it’s not good for society when people get tribal.

  1. How to figure out your calling

– Work for whomever you admire the most
– Figure out what you are bad at and avoid all of it
– Choose work that interest you

And that's a wrap!

I hope you enjoyed this!

If you like this, follow me here @steadycompound

I write about investment concepts, business breakdowns and timeless lessons from super investors.
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Thomas Chua (@SteadyCompound) / Twitter
I break down investing concepts, business models & timeless lessons from super investors • Learn about a business in 15 minutes with my stocks research reports
Thomas Chua (@SteadyCompound) / Twitter

StockOpine
@stockopine05/02/2022
Thanks for sharing!
+ 1 comment
Three terrible reasons to buy a stock:

-It has fallen by so much.
-The dividend yield is so high!
-Hearsay from friends, colleagues and brokers.

Any others?

Eric Thomson
@401ria04/26/2022
"Jim Cramer recommended it on Mad Money"
+ 2 comments
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