- The Street Sheet
- Posts
- 👩 Charlie Munger's Three L's
👩 Charlie Munger's Three L's
Poll: Does Sam Altman remind you of Adam Neumann?
Happy Saturday, and welcome back to our super skimmable Street Tweets newsletter.
Apologies we missed last Saturday, this is one of our most popular newsletters. It was a sad weekend for us. I wrote about it in our Last Cast Letter. Please give it a read and consider donating if you have a few minutes.
TOGETHER WITH PROSPERITY PUB
Options expert, Nate Tucci, claims as long as you deploy a certain type of trade before the end of the week anyone could have a shot to target right around $1,250 in a matter of days (based on $2.5k invested).
But that's not even the best part... Unlike most methods, you don't need to even know WHEN to exit this trade... Once the trade is activated, we can sit back and let it do its work... AUTOMATICALLY.
GO DEEPER
🔑 Get Access to Private Investments: Looking for access to private investment opportunities including direct real estate investments and venture capital investments? Click here to fill out this form.
🚀 Grow Your Business: Do you work in the financial services industry? Do you need help with email and content marketing to generate new leads, retain clients, and grow your bottom line? We work with companies ranging from J.P. Morgan to independent financial advisors to help them do exactly that. Click here to fill out this form and schedule a call.
The UK's economy has stagnated since 2008 🇬🇧
In terms of GDP per capita - economic output divided by the number of people in a country - we've actually gone backwards.
A short 🧵 on the countries that the UK was richer than in 2007, but which have since overtaken us...
— Sam Bidwell (@sam_bidwell)
2:26 PM • Sep 6, 2024
UK and EU GDP charts always amaze me. The stagnation is just sad.
It always worries me a little bit that the US isn’t far behind. I’m biased, however, and I do think our culture breeds more innovation, which is great for GDP growth but not always the best for quality of life.
What’s interesting is that, despite a flat and even negative GDP reading from the UK, the iShares MSCI United Kingdom ETF, which seeks to track the investment results of an index composed of U.K. equities, is still up (32%) over the past 10 years. It’s the blue chart below.
Source: Koyfin
But then again, everything is relative. I also mapped the S&P 500 and it’s up 170%) over the same period. And because it’s Saturday and pizza is on my mind, I also included Domino’s stock (DPZ), and its 492% gains over the past decade.
On 24 February 2022, Russia invaded Ukraine. From February 24, 2022, through yesterday, here is the performance of some of the top defense stocks:
Northrop Grumman Corporation: 37%
General Dynamics Corporations: 42%
Lockheed Martin Corporation: 57%
TransDigm Group: 113%
Embraer (ERJ): 144%
Howmet Aerospace (HWM): 167%
RIP Walgreens. $7B MCap, very little cash, $34B in debt. I'm sure many companies look like this under the hood—wrongly assumed debt would be cheap forever.
— Tuur Demeester (@TuurDemeester)
5:03 PM • Sep 5, 2024
"Smart men go broke three ways - liquor, ladies and leverage." - Charlie Munger
Apparently, Walgreens didn’t get the memo about the third L.
OnlyFans P&L (2019-2023, USD)
2023:
• $6.6B in user spend
• $5.3B paid out to creators
• $1.3B in net revenue
• $820MM in gross profit
• $650MM in operating profit (10% of gross revenue, 50% of net)
• All figures up ~20% YoY (versus ~17% YoY in 2022)— Matthew Ball (@ballmatthew)
2:31 PM • Sep 6, 2024
As Larry David would say: “Pretty, pretttty, pretttty, good.”
Some other OnlyFans facts that I thought were absolutely bonkers:
500,000 new users sign up to OnlyFans per day
Over 300 OnlyFans creators earn more than $1 million annually.
In her first month on the platform, Danielle Bregoli, known by fans as Bhad Bhabie, earned $18,148,436.44.
Since joining in 2021 through this past July, "Bhad Bhabie" made $57 million.
TOGETHER WITH PROSPERITY PUB
Options expert, Nate Tucci, claims as long as you deploy a certain type of trade before the end of the week anyone could have a shot to target right around $1,250 in a matter of days (based on $2.5k invested).
But that's not even the best part... Unlike most methods, you don't need to even know WHEN to exit this trade... Once the trade is activated, we can sit back and let it do its work... AUTOMATICALLY.
Goldman Reveals Shocking Collapse In Visits To Chat-GPT Website
— zerohedge (@zerohedge)
3:05 PM • Sep 6, 2024
AI Bubble?
According to new data from Goldman’s Peter Oppenheimer, citing analytics from Similarweb, the total monthly visits to ChatGPT’s website saw a significant drop from spring through mid-summer, as noted in a report to clients on Thursday.
From Oppenheimer:
"Furthermore, the original 'excitement' about chat-GPT is fading in terms of monthly users (Exhibit 11). This does not mean, of course, that the growth rates in the industry will not be strong, but it does suggest that the next wave of beneficiaries may come from the new products and services that can be created on the back of these foundation models."
Why is the chart above interesting? Well because, according to The Wall Street Journal, “OpenAI is in talks to raise several billion dollars in a new funding round that would value the startup behind ChatGPT above $100 billion.”
I’m just going to say it, but there’s something Adam Neumann-y about Sam Altman. Do you agree or should I kick rocks? Let me know below.
Does Sam Altman remind you at all of Adam Neumann? |
TRIVIA
Why is there only one tree on Wall Street?
Reply