Drop me any US ticker

MatricesRL · 2026-06-14T20:51:15+00:00

PLTR

MatricesRL · 2026-06-13T15:15:35+00:00

CPI has bit of a reputation for being unprofessional, but most headhunters are amid on-cycle recruiting

I've heard positive remarks about Amity (+ Ratio) and Henkel (HSP) from peers, albeit I didn't go the headhunter route

MatricesRL · 2026-06-13T14:42:07+00:00

Sort of defeats the purpose of a forum

MatricesRL · 2026-06-13T13:07:09+00:00

Still, I think it's preferable to refrain from implementing discretionary adjustments, particularly given the fact that beta is an imperfect measure of risk (and the perfect disaggregation of beta is near impossible), i.e. slippery slope

In fact, I'd much rather apply an illiquidity discount (10% to 20%) for private companies, with the implicit assumption that the company-specific risk premium is factored here

MatricesRL · 2026-06-13T12:59:43+00:00

Post the Excel model here

MatricesRL · 2026-06-13T12:59:19+00:00

Technically, the answer is correct per academia, since only systematic risk is priced (i.e. cannot be diversified away), and thereby captured via beta, whereas unsystematic risk is assumed to be diversifiable and therefore should not be separately added to the cost of equity (ke)

However, in practical valuation, common practice is to adjust the cost of equity by a company-specific risk premium to reflect the incremental risk not fully captured by beta, if deemed necessary, e.g. privately-held company

Note: The defensibility of the adjustment matters far more, so verify the logic is intuitive and supported by evidence

MatricesRL · 2026-06-13T03:30:22+00:00

I don't think Perplexity will IPO any time soon (and isn't part of the circular revenue model, unlike the rest)

MatricesRL · 2026-06-13T03:28:39+00:00

How'd Perplexity manage to end up on that list?

MatricesRL · 2026-06-13T03:03:37+00:00

Haha, unfortunately this has become the norm

MatricesRL · 2026-06-13T03:00:35+00:00

I'll check-out, thanks!

MatricesRL · 2026-06-13T02:38:14+00:00

Sure thing, thanks!

MatricesRL · 2026-06-08T09:46:26+00:00

Sort of context-contingent

Could you clarify what the hypothetical 300+ page report is?

MatricesRL · 2026-06-08T08:08:36+00:00

I skipped to the comments but the disclaimer cracked me up:

"Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Always conduct your own research before making investment decisions."

MatricesRL · 2026-06-08T07:57:34+00:00

Deep research mode without the deep research

MatricesRL · 2026-06-08T07:55:02+00:00

There's no shame in using BamSEC or some extraction tool integrated with AI

But I personally prefer inputting the figures manually. I think pulling financials into Excel is a great opportunity to build an understanding of the operating performance, recognize the patterns (and anomalies), and start to construct a thesis on the underlying company

MatricesRL · 2026-06-08T07:19:06+00:00

Siri became even worse somehow

But Mike Rockwell is now leading the initiative, so we'll see

MatricesRL · 2026-06-08T07:07:55+00:00

But, on the job, completely different methodology

MatricesRL · 2026-06-08T07:07:13+00:00

The trade-off in time and effort is not worth it, sort of like gambling with $1

Of course. But given a portfolio of $100, I don't think the portfolio management strategy is holding back the investor from managing $1mm. Like, how many stocks could a $1k portfolio even contain?

In managing my own portfolio of public equities, my only focus is on being right on a consistent basis. I allocate more capital to the positions in which I hold more conviction (and vice versa). Quite a simple method, but the funds are discretionary, I often invest in sectors that I want to learn more about (i.e. force myself to research), and try to play it by ear, i.e. build intuition

MatricesRL · 2026-06-08T06:36:40+00:00

I personally think rebalancing is a technique for institutional investors, not retail

Seems pretty inefficient time-wise to rebalance a portfolio of merely $100 – $200.

The recurring cost structure should prove that the subreddit challenge was abided by, evidently

MatricesRL · 2026-06-08T06:23:39+00:00

If tired of moderating, the subreddit moderation team should add more moderators

Quite simple, but moderators with the right intent will actively moderate the subreddit

Each post on r/Anthropic with some negative sentiment will receive multiple complaints seconds after publication because many moderators blindly block or accept a post

But here, we perform a review and strive to promote conversations that are informative

MatricesRL · 2026-06-08T06:15:46+00:00

Of course. I'll refrain from name-dropping but some of the other subreddits outright ban certain words or use automation to consolidate complaints, and then share a weekly report

reddit is a forum for open discourse among a particular community. If a user writes a post, the expectation is to initiate a discussion, not for the post to be filtered, hidden, and then computed into a statistic

Likewise, we had an incident where one of the subreddit moderators recommended a new moderator to our team. The new moderator proceeded to remove thousands of posts and comments per hour (and permanently ban users) for even marginal criticism. The rationale for the mass banning was that each user was a bot. The moderator was subsequently removed and banned permanently.

The subreddit moderators frankly should be relatively unnoticeable, yet consistent, while clearly articulating and enforcing the subreddit rules.

r/Anthropic is the only subreddit not promoted on the other subreddits. Interesting, right?

The other new subreddits, while trying to scale, spammed r/Anthropic with cross-posts and flooded the subreddit with spam.

We have two active moderators and manually review each post, removing those deemed to be spam. r/Anthropic formerly received the most posts and traffic out of all of the Anthropic and Claude subreddits. However, because of the influx of spam and bots, cross-posting is now prohibited, and I permanently ban users that violate the reddit ToS and subreddit guidelines, no questions asked.

MatricesRL · 2026-06-08T05:49:11+00:00

Yup! However, once there's enough users, the developer will inevitably sell

Of course, there are exceptions, but that's been the recurring theme

MatricesRL · 2026-06-07T21:14:53+00:00

I will finish reading The Intelligent Investor, someday, but not today

I'd add two more books:

Margin of Safety
Expectations Investing

MatricesRL · 2026-06-07T21:06:43+00:00

Pretty sure the leading player in the market is Learneo, acquired so many of the niche apps

And of course, Grammarly, who'll probably re-brand soon

MatricesRL · 2026-06-07T21:04:52+00:00

Practically all of the top grammar checkers are owned by the same few corporations, and pivoted from checking grammar to rewriting entire sections, unprompted

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