The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 7 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Investors in Their 30s Are the Most Dangerous Because They Overthink
“I love the sixty-year-olds or fifty-year-olds. I love the twenty-year-olds. The 30, 35 are the most dangerous. Why? Because when you're 50, 60, you saw a lot of things, and you simplify. You know what works, what doesn't, and you do it very simple. When you're…”
WEG Can Deliver 25% to 30% Annual IRR at Current Multiple
“It's been a great performer, but we see a 25, 30% IRR per year at the current multiple.”
Fund Managers Should Never Hold 15 Percent Positions in One Company
“You shouldn't have In the long run, 15% in one company. You shouldn't, because again, this is a competitive business. We are not managing our own money, and we don't care. No, this is a competitive business. You shouldn't have 15% in one company. Of course, if…”
Brazil's Largest Pharmacy Chain Is Out-Opening All Competitors Combined
“The largest drugstore and pharmacies, let's say chain in Brazil, they're opening this year more pharmacies than the combined number of their competitors.”
Holdings Fell 30% While Earnings Expectations Rose 5% to 8%
“When we look at our businesses, in the last six months, on average, the companies fell 30% from the peak. Some fell 40, some fell 15, But on average, 30. When you look at earnings expectations, they are, after the third quarter earnings, they were up five to e…”
Constellation Returned 6x to 12x in Top Brazilian Market Leaders
“We made 12 times our money in the largest education company in Brazil, six times our money in the largest e-commerce business in Brazil, eight times our money in the largest drugstore in Brazil. And this is eight years, six years, seven years, and just betting…”