The Misbehavior of Markets: A Fractal View of Financial Turbulence [Benoit Mandelbrot]
Transcript of interview with Federal Reserve Chairman Jay Powell [60 Minutes]
Status as a service [Eugene Wei]
The four fundamental skills of all investing [Collaborative Fund]
The perils of investing idol worship: The Kraft Heinz lessons [Aswath Damodaran]
A pitch on Nintendo [HardcoreValue]
A pitch on Molson Coors [Elevation Capital]
A look at the timeshares businesses [Yet Another Value Blog]
A look at HSBC [UK Value Investor]
How internet marketplaces unlock economic wealth [Bill Gurley]
DoorDash tops GrubHub & UberEats in food delivery [Fortune]
Google quietly releases hotel booking with potentially huge implications [Skift]
Pricing algorithms can learn to collude with each other to raise prices [MIT Tech Review]
Not caring: a unique and powerful skill [Collaborative Fund]
On Manchester United: the paradox of profits without trophies [FT]
Investors get burned after betting on electric car metals [WSJ]
Wednesday, March 13, 2019
What We're Reading ~ 3/13/19
Wednesday, October 3, 2018
What We're Reading ~ 10/3/2018
The decision matrix: how to prioritize what matters [Farnam Street]
Sustainable sources of competitive advantage [Collaborative Fund]
Deep dive on wireless future: 5G [Axios]
How Shopify is the platform powering the direct-to-consumer revolution [Digiday]
Why Google Fiber is high-speed internet's most successful failure [HBR]
Pulling back the curtain on how SoftBank's massive Vision Fund works [TechCrunch]
A pitch on Yelp [Barrons]
Inside the world's fastest growing food delivery service [Eater]
Food delivery apps are impacting your favorite restaurants [Democrat & Chronicle]
How seltzer/sparkling water is upending coffee and beer [WSJ]
App-only banks rise in Europe and aim at traditional banks [NYTimes]
For some platforms, network effects are no match for local know-how [HBR]
David Rubenstein interviews Amazon's Jeff Bezos [YouTube]
How TripAdvisor changed travel [The Guardian]
The $29 billion battle to own how America sleeps [Fast Company]
How Paytm clinched its Berkshire Hathaway investment [Economic Times]
'Peak car' and the end of an industry [Bloomberg]
Wednesday, February 7, 2018
What We're Reading ~ 2/7/18
George Soros remarks at the World Economic Forum [George Soros]
It's hard to predict how you'll respond to risk [Collaborative Fund]
How delivery apps may put your favorite restaurant out of business [New Yorker]
Older piece but interesting: Disney as a service [Redef]
QVC plans to survive Amazon and escape the cable TV death spiral [Bloomberg]
Why one firm passed on investing in Ecolab [Intrinsic Investing]
A new mental model for investing [MicroCapClub]
Germany is still obsessed with cash [Bloomberg]
Why Rimowa rules the luggage carousel [FT]
Investing in UK retailers: bargains or basket cases? [FT]
The new robot revolution in manufacturing [WSJ]
Ikea's success can't be attributed to one charismatic leader [HBR]
The American sedan is dying, long live the SUV [Bloomberg]
Like great coffee, good ideas take time to percolate [FT]
Monday, November 28, 2016
Joho Capital Adds To GrubHub Position
Robert Karr's Joho Capital has filed a 13G with the SEC regarding its position in GrubHub (GRUB). Per the filing, Joho now owns 5.1% of the company with over 4.37 million shares.
This means they've increased their position size by 935,100 shares since the end of the third quarter when they owned 3.43 million shares. The filing was made due to activity on November 14th.
Per Google Finance, GrubHub is "a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices. The Company's target market is primarily consists of independent restaurants. Diners can access the platform through www.grubhub.com and www.seamless.com. The Company offers diners access to the network through its mobile applications designed for iPhone, iPad, Android, iWatch and Apple TV devices. The Company provides a corporate program that helps businesses address problems in food ordering and associated billing. In certain markets, the Company also provides delivery services to restaurants on its platform that do not have their own delivery operations. Allmenus.com and MenuPages.com provide an aggregated database of approximately 380,000 menus from restaurants."
Monday, May 2, 2016
Steadfast Capital Starts GrubHub Stake
Robert Pitts, Jr.'s hedge fund firm Steadfast Capital has filed a 13G with the SEC regarding shares of GrubHub (GRUB). Per the filing, Steadfast now owns 5.1% of the company with over 4.31 million shares.
This is a newly disclosed equity position for the firm. The filing was made due to activity on April 19th. GRUB became publicly traded late last year.
About Steadfast Capital
This is the first time Steadfast Capital has been covered on the site. The fund was founded by Robert Pitts, Jr. after working at Julian Robertson's Tiger Management. As such, Steadfast is one of the many so-called 'Tiger Cub' funds. Steadfast's most recent 13F filing reported assets of $5.2 billion, but keep in mind that doesn't include any of their international positions/exposure.
Per Google Finance, GrubHub "is an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 30,000 local restaurants with diners in more than 800 cities across the United States. The Company’s target market is primarily composed of independent restaurants. The Company provides diners on the platform with a personalized platform that helps them search for local restaurants and then place an order from an Internet-connected device. It also provides diners with information about their orders and status. In addition, the Company enables re-ordering by storing previous orders, preferences and payment information. The Company’s products include GrubHub and seamless Websites, GrubHub and seamless mobile applications and mobile Website, seamless corporate program, allmenus and menupages, orderhub and boost, restaurant Websites and delivery."
Wednesday, March 2, 2016
What We're Reading ~ 3/2/16
Quality Investing: Owning the best companies for the long term [Lawrence Cunningham]
How to learn from market mistakes [WSJ]
In-depth interview with JPMorgan's Jamie Dimon [Bloomberg]
Key checklist items [Value Investing World]
The great investment advice hidden in Warren Buffett's annual letter [Fortune]
Hard truths for investors to wrap their heads around [Morgan Housel]
Software is the new oil [AVC]
A pitch on Broadridge Financial Solutions [Intrinsic Investing]
Thoughts on industrial gases [Dislocated Value]
Why restaurants hate GrubHub Seamless [Tribeca Citizen]
Why the economy isn't about labor productivity anymore [Bloomberg]
What I learned from losing $200 million [Nautil.us]
Visa moves at the speed of money [Forbes]
How mobile payments reshape lifestyles [WSJ]
The robots are coming for Wall Street [NYTimes]
Why media titans would be wise not to overlook Netflix [NYTimes]
Expedia thinks it can help you find the dream vacation you didn't know you wanted [Bberg]
Top tips from China's richest man [CNN Money]
