This is a great interview: Chick-fil-A, a private, family-owned business, unfortunately, I might add, has never had sales less than the previous year in its 76-year history! Chick-fil-A Chairman Reveals the Secret Recipe for Success! via @YouTube

Money-market assets are at an all-time high of $5.3 trillion. Must be bullish for stocks...in the long-term.

$DVA I don't have a position. But, this is a fantastic read - I learned a lot; @the10thmanbb has done deep research into one of the most expensive diseases in the US; well worth your time. 🙏

$ODFL An expert on @_inpractise - Expedited Solutions is only 5% of total revenue...but is incredibly profitable - "some would go at 30%-40% operating ratio..."

Some mgmt teams feel compelled to redefine an already well-defined terminology like Free Cash Flow - here is one from a company with a fair bit of financial leverage on the balance sheet:

William Zinsser on pleading for the right to fail:

$EVO An expert on @TegusHQ discusses the competitive landscape in the live casino supplier landscape Even if an organization has Pragmatic, Playtech, and Evolution as 3 main suppliers, EVO will still be taking 60%-70% of the business simply because of the quality of games

$APO Marc Rowan's description of the market and the opportunities are always worth following. Here they are explaining their capital priorities - clear, yet concise: 1) divvy - ~in-line with SPX 2) share repo - hi teens 3) strategic growth - has to beat share repo

⁦@yanisvaroufakis⁩ in his wonderful book ‘Adults in the room’ about the Grexit saga, dishes out a joke - …about insurance companies…or, is it about golfers!

$RMS Battle of the bags - Chanel v Hermes. I am reminded of $LVMH Bernard Arnaut's definition of luxury: 'The ordinary of extraordinary people and the extraordinary of ordinary people.'

$ODFL Reasons for its long-term success in 1 page - from its latest deck released this morning CFO since 2013 was $8.0 bill, 25% of which went to increasing the door count. Mkt. share went from 3% in 2002 to 12% in 2022 Operating Ratio went from 85.5% in 2013 to 70.6% in 2022

Trader Joe's will be exclusively a brick-and-mortar business even though online grocery sales are on track to grow at 12%/year. $DNP in Poland is another one that intends to remain a brick-and-mortar grocery chain for similar reasons.

@Invesquotes Great list @Invesquotes. I'd recommend taking @fortelabs Building A Second Brain (BASB) class to help retain and recover information more efficiently.

It was an honor to be on the podium with $GEOFF Geoff Gannon. Thanks to @WillowOak2017 for putting this event together, and many thanks to @McD_Investments, the author of 'Capital Allocation' for moderating.

$BRK One good decision every 5 years... a tiny number of decisions can produce a huge amount of value. What he's suggesting is that phenomenal success isn't getting every decision right. It's about getting important decisions phenomenally right.

$KKR All the alternative asset managers are going after retail investors. Here is Jon Gray of $BX quantifying the retail opportunity - $85 trill of assets with these HNW individuals...

“…the mind is like a parachute. It only works when it’s open.” Isadore Sharp in his autobiography’Four Seasons’

$BRK Many lessons from Warren and Charlie in Omaha last week. For me, one of the most important statements and yet least appreciated was - "We did pay a dividend in 1967, $0.10 per share. It was a terrible mistake."

Stock has gone from ~$18 in 2016 to $336

$KNSL the only public underwriter focused exclusively on Excess & Surplus (E&S), has grown since IPO in 2016 - Policy reserves 5.8x - Gross written premium at 23%/yr - Avg. Combined Ratio at 81.4% - Avg. ROE 18.2% Announced Q1 2023 results: - Combined 78.2% - ROE 29.3%

$DNP Biedronka (JMT) announced results earlier today. While food inflation continues to rage on, LFL sales at Biedronka was 24.5%; Dino typically puts up better LFL than Biedronka.

$EVO Martin Carlesund said revenue contribution from Asia will be bigger than Europe before the end of the year 2023.

What a fascinating business! RNG is still lagging behind. When RNG starts contributing…👀