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Category: IAC

Building conviction #neversell

Posted On January 13, 2021
I've had three connected thoughts sort of floating around my head recently. I've talked about how obsessed I've been with Peloton (the app) recently, and that got me interested in revisiting the stock. As part of that, I reread Implied Expectation's (excellent) Peloton write up. This line (you won't share the confidence unless you own […]

History Rhymes: $FB attacks $MTCH / $ANGI

Posted On December 16, 2020
This morning, ANGI stock fell ~5% on a news story that Facebook was plotting a rival service. If you just thought about that announcement in a vacuum, ANGI's stock going down would make sense. In fact, you might even find a drop of only 5% a little puzzling. Facebook is probably the most powerful corporation […]

Premium post: updates on $IAC and $GTXMQ

Posted On October 29, 2020
Updates on two of my favorite ideas to end the month! IAC and GTX (disclosure: in bankruptcy, buyer beware)

$ANGI: odds and ends

Posted On October 7, 2020
Last week, I posted the qualitative and quantitative bull thesis for ANGI. Today, I want to dive into some other odds and ends that didn't make their way into the piece, as well as answer some questions / concerns / bear thesis that have been sent to me since posting. One question that's always worth […]

A flywheel marketplace at <10x EBITDA: $ANGI $IAC

Posted On October 2, 2020
Yesterday, I put up a post on ANGI's emerging flywheel. I'd encourage you to read that for qualitative background on ANGI, because today we're diving deep into the valuation of ANGI. However, before we go into that, let me start with a little bit of a tease and a question. First, the question: based on […]

Getting the flywheel spinning at $ANGI $IAC

Posted On October 1, 2020
If the past few years have taught investors anything, it's one simple rule: buy pre-deal SPACs, pray that they announce a merger with anything that can vaguely be construed as an electric vehicle company, and profit. Have there been other lessons to be learned in the past year? Sure, though honestly those other lessons are […]

SPACs: the most ludicrous bubble we'll ever see... why not $IAC?

Posted On July 22, 2020
There are a lot of things about financial markets that confuse me these days. For example, I'm confused by the pricing of a bunch of consumer experience type stocks (high end restaurants, movie theaters, etc.).

Markets in (semi)Panic 3: not even a semi-panic yet

Posted On February 26, 2020
Every now and then, I'll write a "markets in Panic" post. It's generally on the heels of a 10-20% decline when people are freaking out a bit. The last one I did was in December 2018. That post didn't quite mark the bottom; the market would drop another 5-7% over the next week before bottoming […]
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Reviewing my three worst mistakes of the year: $QRTEA $I $SYNL $ANGI $IAC

Posted On December 13, 2019
It may be the middle of December, but the year is prepping to wrap up for me. I'm going on my honeymoon this afternoon, and while I have skillfully negotiated with my wife that I will be allowed to work a little during the honeymoon, there are limits to how much a man can negotiate....

Some things and ideas: October 2019

Posted On October 31, 2019
Some random thoughts on articles that caught my attention in the last month. Note that I try to write notes on articles immediately after reading them, so there can be a little overlap in themes if an article grabs my attention early in the month and is similar to an article that I like later […]
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