Tren Griffin, Discover and Read the Best of Twitter Threads by @trengriffin

1/ "The really great painters are the ones that change how other people paint, like Picasso. David Swensen changed how everyone who is serious about investing thinks about investing,” says

1/ What might you want to take away from today's Berkshire meeting? Focus on the way they think about the investing process. You are not them. You have a different

1/ Gwynne Shotwell: "The total addressable market for launch, with a conservative outlook on commercial human passengers, is probably about $6 billion. But the addressable market for global broadband is

1/ Elon Musk keeps wholesale transfer pricing power: “Tesla is absolutely vertically integrated compared to other auto companies or basically most any company. We have a massive amount of internal

1/ Young investors must walk uphill in deep snow to get to a work investing in markets every single day.Charlie Munger: "We had idiot competition when we were young. Now

1/ "*A company’s value equals the present value of future cash flows.*While convenient, earnings provide limited information about future cash flows.*The ongoing shift to an intangible-based economy renders earnings even

"Product market fit is when your second employee is someone who's opening envelopes of money. eBay was such a good fit. Sellers were voluntarily sending in checks. Pierre had to

1/ This podcast with Modest Proposal features a useful framework for understanding Charlie Munger style value investing. Old school value investors look quantitatively at the rear view mirror. Munger style

Overheard: Grocery checker: Yes, I know that stock is up 6X this year, but what's the P/E ratio?Bagger: Did you look at its free cash flow?Checker: That's too much work.

1/ If you were watching earnings releases the past two weeks and didn't see that businesses with key intangible assets outperformed expectations, you weren't paying attention. Pricing power created by

1/ If you own a business and are deciding whether to hire software developers to create a new service you are making a capital allocation decision. You must determine whether

1/ The moment I encountered the ideas of Peter Fader and Dan McCarthy we immediately clicked. Dan said recently: "Customer based corporate valuation is the intersection of marketing, finance and