Daniel Bakalarz
@danielbakalarz
Investor at https://unisonam.com
unisonam.comDaniel Bakalarz
a company has a COMPETITIVE ADVANTAGE, it can sustain higher relative prices and/or lower relative costs than its rivals in an industry.
Joan Magretta • Understanding Michael Porter: The Essential Guide to Competition and Strategy
The difference between the unadjusted and the adjusted MEROI is a function of what percentage of SG&A isreclassified and the assigned amortization period. (See the appendix for a more detailed discussion.) If noSG&A is considered to be an investment, no adjustments are necessary. The higher the percentage of SG&A that is capitaliz... See more
Morgan Stanley • Market-Expected Return on Investment Bridging Accounting and Valuation
I think a select few—a small percentage of the investment managers—can deliver value added. But I don't think brilliance alone is enough to do it. I think that you have to have a little of this discipline of calling your shots and loading up—you want to maximize your chances of becoming one who provides above average real returns ... See more
Charlie Munger • A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
5. Be Direct and Respect Your Colleagues, which I find as the company grows— one of my colleagues, Boz, has this saying that we’re in danger of nicing ourselves to death. And Sheryl always says that the amount of progress that we make is directly proportional to the number of hard conversations that we’re willing... See more
Mark Zuckerberg • The Tim Ferriss Show Transcripts: Mark Zuckerberg on Long-Term Strategy, Business and Parenting Principles, Personal Energy Management, Building the Metaverse, Seeking Awe, the Role of Religion, Solving Deep Technical Challenges (e.g., AR), and More (#582)
Microeconomics: here, I find it quite useful to think of a free market economy—or partly free market economy—as sort of the equivalent of an ecosystem
Charlie Munger • A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
you have a strategy, you should be able to link it directly to your P&L.
Joan Magretta • Understanding Michael Porter: The Essential Guide to Competition and Strategy
The value of information is determined by what’s discarded in the process of creating it.
thekcpgroup.com • The Attention Span. “Racehorses and Psychopaths.”
90 Days of Diffusion
90 🤯 AI Advances 👇
Expose yourself to as many different philosophies and processes as possible because you have got to find one that fits your own emotional make up and that helps you be rational when you’re wrong. And do not be a philosopher. Do not be a high priest of investment religion. Be a practitioner.
Gavin Baker • Security Error | Columbia Business School
On scale advantages, occasionally, scaling down and intensifying gives you the big advantage. Bigger is not always better.