Even better is organic growth when a competitor is eliminated.
I remember buying PWR Holdings Ltd back in 2017/2018. Their competitors left the niche market leaving them with the whole market for themselves.
The stock did 5x in 5 years. Even more strange was that there was hardly any stock price reaction for 2 years even though a key market had fundamentally changed.
Oh yeah stock prices can remain decoupled from fundamental realities far longer than we can stay solvent as Keynes knew…
Anthropic raised today at 27x revenue multiple! 
Actually doesn’t sound that unreasonable. 80% of its $14bn revenue run rate comes from enterprise customers with 500 of them spending >$1mn. Revenue has grown 10x in each of last years (granted from a low base) but nonetheless impressive. Question is if / when it will be profitable in a winner takes most market.
Z.ai managed to sneak into the top 20:
| Before | Today |
|---|---|
| AMLP | AMLP |
| BTI | BTI |
| NEM | NEM |
| AEM | AEM |
| VICI | KAP |
| KAP | VICI |
| WDS | WDS |
| B | CHTR |
| GLDM | GLDM |
| MO | NESN |
| NESN | MO |
| GDX | B |
| NANR | NANR |
| URNM | O |
| O | Z.AI |
| PFE | PFE |
| FDS | XOM |
| UEC | GDX |
| XOM | URNM |
| GLD | NNN |
Even after the failed buy order:
I am wondering why Anthropic is worth less than OpenAI
isn’t Anthropic these days the Numero UNO?
Anthropic has a decent entreprise/API footprint. OpenAI is miles ahead for consumer, Chatgpt is like a verb in many countries (similar to google, except they achieved this status in a couple of years).
If I could buy shares in an AI lab it would be Anthropic.
Not sure I agree with this statement. I couldn‘t name such a country.
I’ve seen it in some ads in the street in Zurich (and heard non tech people say that in France).
It all depends if AI will be like Google or Internet. One of them captured all the value and other one became public commodity.
No idea what the future brings us (and personally I’d love a world with less quasi-monopolies, and I’m rooting for open weight and sovereign models, I think it should be a common good long term), was just pointing out the fact that ChatGPT become a global household name at unprecedented pace (and anthropic isn’t there yet, I think before their superbowl ad most non tech people hadn’t heard of them).
I bought Valaris a few years ago, I knew the industry was in bad shape, but long term it would come good.
Unfortunately, it was in a financially precarious position and when covid hit, it spelled the end and they company went bankrupt and filed for Chapter 11.
It re-emerged in 2021 and finally the promise looks like it will be fulfilled:
Being early is the same as being wrong.
Being way too early can mean horrific losses.
This was such a bad stock for me. I managed to be too early, lose the whole investment in bankruptcy and also be too late as I thought there was still time to buy in, but Valaris announced acquisition by RIG today.
It was up some 335% post-bankruptcy. I did consider buying again post-bankruptcy, but once bitten, twice shy.
FoMongoose
OK. This SAASpocalypse sell off is too tempting. Bought today:
SPGI, MCO and MSCI are still holding up well.
Saw this post today on the reluctance of institutional buyers to buy the dip on SAAS.
Damn it feels good to be a meme-stock-trader.
No wonder people love it trading meme stocks. Here I was buying value and dividend stocks whereas I should have been YOLOing on meme stocks the whole time. Next stop: 0DTE trading!
I miss @Your_Full_Name and @cubanpete_the_swiss so I’m posting this US stock of the day in their honor 
edit: forgot to add the a nice photo of the company as @cubanpete_the_swiss would nicely do, here it is:
So far this year, more than one-fifth of constituent stocks in the S&P have gained or lost more than 20 per cent, with risers outnumbering fallers by approximately two to one, even though the overall S&P 500 index is roughly flat.
The gap between the chunky stock moves and the subdued performance of the index this month reached its highest level since the aftermath of the global financial crisis in 2009, according to data from market maker Citadel Securities.
“Single stock dispersion is at extreme levels,” said Scott Rubner, an analyst at Citadel Securities. The threat posed by AI has “accelerated repricing across vulnerable business models, intensifying rotation even as headline [index] performance remains contained”, he added.
The sharp moves are making many traders wary after a lengthy bull run in stocks, but they are also throwing up attractive opportunities for stockpickers prepared to ride out the volatility.
Maybe 2026 will be the year of the stockpicker.
If I don’t outperform this year, maybe I’ll need to hang up my stock picking hat and switch to ETFs.
Market is - at this point - being quite stupid about it in my opinion. They’re well into value territory now.
Merck just announced spinning off their oncology business feels like stock shenanigans to me, but I could be naive.
