Revisiting Burford

In what seems like ages ago now Fintwit darling, Burford Capital, was flamboyantly attacked by Muddy Waters. The prominent short seller claimed that Burford “misleadingly boosted its IRR numbers”, rendering ROIC and IRR metrics “meaningless”; misled investors through the “egregiousness of its fair value accounting”; and was “arguably insolvent”, raising outside capital as a matter […]

[ROP] Roper Technologies

Hi everyone, I embedded audio of me reading this post. Let me know what you think. If enough people are into this feature, I will include it in future write-ups. These recordings won’t be word-for-word translations (I’ll summarize here and there) but pretty close. You’ll notice that I confuse “Vertafore” and “Vertafone” several times in […]

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[AME] AMETEK

AMETEK was birthed out of failure. After its predecessor, Manhattan Electric Supply Company, a supplier of electrical switches, telegraph sets, alarm clocks, flashlights and other novel gizmos of the late 19th/early 20th century, declared bankruptcy in 1930, months after the market crash, shareholders created a new company from the ashes. The newly formed American Machine […]

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[TDY] Teledyne

Many investors have come to know of Teledyne through Warren Buffett, who in John Train’s 1980 classic The Money Masters, declared the company’s co-founder, Henry Singleton, as having “the best operating and capital deployment record in American business”. Buffett’s seal of approval spawned a vast collection of fawning articles and books about the unconventional engineer, […]

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