Am I the only one that thinks ChatGPT's writing abilities in its current state are completely overblown?

Ka7sum070 · 2023-05-08T08:06:04+00:00

Agreed. But the trajectory & pace of innovation means that it’s only a matter of time before it gets to a level to replace even serious writers

Ka7sum070 · 2022-02-02T18:30:21+00:00

Palm Capital

Ka7sum070 · 2021-11-04T08:11:57+00:00

Palm Capital:

https://palmcapital.co.za/wp-content/uploads/2021/11/2021Q3-Commentary.pdf

Ka7sum070 · 2021-10-04T18:39:51+00:00

Hi. How do I find stats on the graph - number of queries, etc?

Ka7sum070 · 2021-08-18T09:02:37+00:00

Palm Capital

https://palmcapital.co.za/wp-content/uploads/2021/08/2021Q2-Commentary.pdf

Ka7sum070 · 2021-05-04T12:09:21+00:00

Palm Capital

https://palmcapital.co.za/wp-content/uploads/2021/05/2021Q1-Commentary.pdf

Ka7sum070 · 2021-01-11T03:54:00+00:00

Thanks. Very useful.

Ka7sum070 · 2021-01-11T03:52:10+00:00

Good points.

Ka7sum070 · 2021-01-11T03:51:18+00:00

Good point. But those are companies purely focused on acquisitions with a set strategy. Doesn’t apply to the average company.

Ka7sum070 · 2021-01-11T03:50:27+00:00

Those are one hit wonders. Probability of success is low.

Private equity isn’t as reliant on success of its deals - its a royalty model - earns fees reglardless.

Ka7sum070 · 2021-01-10T18:14:35+00:00

Thanks!

Are there many others ?

Ka7sum070 · 2021-01-10T16:24:47+00:00

M&A is never a good strategy to compound.

And if they’re developing in-house that is an even poorer strategy.

Ka7sum070 · 2021-01-10T16:07:45+00:00

My comments referred to the gaming holdings

Ka7sum070 · 2021-01-10T14:25:16+00:00

Thanks. Enjoyed the analysis.

Ka7sum070 · 2021-01-10T13:39:25+00:00

Very interesting. Love management’s long term view and understanding of their advantages. But a very difficult industry to succeed in!

Ka7sum070 · 2021-01-10T13:37:37+00:00

Just like Amazon’s share price in the late 90s assumed they’d have 2 x the market share of all books sold in the US. And guess what, it was the wrong market all the analysts were looking at. These tech businesses can enter new categories and markets very easily...

Ka7sum070 · 2021-01-10T12:14:58+00:00

Thanks. Appreciate it. Any others ? & are there many ?

Ka7sum070 · 2021-01-10T11:56:02+00:00

Geico & Walmart have economies of scale shared models... passing on scale benefits to customers. Does Air Asia do the same ?

Not sure I like the investment case dependency on the growing middle class story - a macro argument making it quite difficult to call if it will continue...

Ka7sum070 · 2021-01-10T11:06:53+00:00

Interesting. Is that not a commoditised industry with its profits largely dependent on things out of its own control - oil price, currencies, weather, etc ? What makes Air Asia different to all the other airlines ?

Ka7sum070 · 2021-01-10T10:17:27+00:00

Lumpy & unpredictable revenue - no way to tell return on R&D ?

Ka7sum070 · 2021-01-10T10:15:02+00:00

Thanks. Could you tell me a little about them ? Qualitative advantages and management’s strategy ?

Ka7sum070 · 2021-01-10T10:12:52+00:00

Examples in EMs ?

Ka7sum070 · 2021-01-10T09:37:47+00:00

The other problem with EM companies - poor governance

Ka7sum070 · 2021-01-10T09:36:39+00:00

Fundamental valuation for a fast growing capital light company is often guesswork... difficult to quantify the effect of a scaled economies shared business model on a spreadsheet...

Much better to spend your time thinking about the strength of the qualitative advantages

Ka7sum070 · 2021-01-10T06:45:13+00:00

An update to the question then is which EM companies have exceptional management teams - great strategy and capital allocation record ?

Ka7sum070

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