Writing about Companies with an Unfair Advantage, Unfair Advantage

Unfair Advantage

Writing about Companies with an Unfair Advantage

I write about companies that have an unfair advantage. I might invest in them as well.

Equity Bottom-Up

<ul><li>The market waited with bated breath as NVIDIA released their quarterly earnings yesterday on 19th November, 2025. To almost no one’s surprise, they beat the estimates again.</li><li>The company is a juggernaut to say the least and has added $1.9 Trillion in market cap in the last 8 months!</li><li>That is more than Tesla or Meta's market cap themselves. The statistics are almost unbelievable.</li></ul>

The market waited with bated breath as NVIDIA released their quarterly earnings yesterday on 19th November, 2025. To almost no one’s surprise, they beat the estimates again.The company is a juggernaut to say the least and has added $1.9 Trillion in market cap in the last 8 months!That is more than Tesla or Meta's market cap themselves. The statistics are almost unbelievable.

Value Investing

Vladimir Dimitrov, CFA

<ul>
<li>Nvidia's risk-reward profile remains unattractive, according to the company's recent earnings report.</li>
<li>Nvidia's stock-based compensation also highlights some problems related to inventory levels and the amount of stock- based compensation.</li>
<li>The company's share price has risen 14% following recent earnings, the report says.</li>
</ul>


Nvidia's risk-reward profile remains unattractive, according to the company's recent earnings report.
Nvidia's stock-based compensation also highlights some problems related to inventory levels and the amount of stock- based compensation.
The company's share price has risen 14% following recent earnings, the report says.


Nvidia: Don't Let Narratives Fool You (Again)

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>In Depth: Global Climate Summit Ends in Disarray as U.S. Absence Upends Talks</li><li>In Depth: Rift Opens in China’s State-Dominated Duty-Free Sector</li><li>China’s Sovereign Wealth Fund Posts Strong 2024 Results</li><li>Hong Kong Warns IPO Sponsors Over Slipping Application Quality</li></ul>

In Depth: Global Climate Summit Ends in Disarray as U.S. Absence Upends TalksIn Depth: Rift Opens in China’s State-Dominated Duty-Free SectorChina’s Sovereign Wealth Fund Posts Strong 2024 ResultsHong Kong Warns IPO Sponsors Over Slipping Application Quality

CX Daily: Global Climate Summit Ends in Disarray as U.S. Absence Upends Talks 

Founder, Market Thinker

Mark Tinker

Founder

Market Thinker

Mark Tinker has over 35 years experience as an investor, market strategist and economist. Having spent more than 20 years as a sell side strategist and being top rated on numerous occasions and surveys he moved to investment management in 2006 to run global equity portfolios in London and subsequently moved to Hong Kong in 2013 to help establish an Investment Management business for a top 20 international asset manager. He first started writing investment weeklies for his employers in 1989, developing a style characterised under the title Market Thinking and has been a regular commentator and presenter on CNBC, Bloomberg and other business channels, where his approach of rationalising market behaviour rather than making short term predictions on high frequency market data provides a welcome balance to his client audience.

Making Sense of the Narrative

Macroeconomics

<ul><li>The ‘year-end’ book squaring ahead of Thanksgiving caused a mid-month wobble around the November options expiry, which in turn caused some panic among leveraged traders, albeit not of the April variety.</li><li>The FOMO trades of unprofitable tech and everything Crypto related were hit particularly hard and while the $ briefly moved back above 100 on the trade weighted index, the pain trade at the broader market level appeared to have gone by end month.</li><li>A Rip Van Winkle analysis of November would have concluded that nothing much happened, but a lot did.</li></ul>

The ‘year-end’ book squaring ahead of Thanksgiving caused a mid-month wobble around the November options expiry, which in turn caused some panic among leveraged traders, albeit not of the April variety.The FOMO trades of unprofitable tech and everything Crypto related were hit particularly hard and while the $ briefly moved back above 100 on the trade weighted index, the pain trade at the broader market level appeared to have gone by end month.A Rip Van Winkle analysis of November would have concluded that nothing much happened, but a lot did.

<ul><li>Chips /Cover Story: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush</li><li>China-U.S. /: China, U.S. Reach Basic Consensus in Kuala Lumpur Trade Talks Ahead of Leaders’ Summit</li><li>Hospitals /: China’s Public Hospitals Report Mixed Fortunes as Financial Pressures Mount</li></ul>

Chips /Cover Story: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold RushChina-U.S. /: China, U.S. Reach Basic Consensus in Kuala Lumpur Trade Talks Ahead of Leaders’ SummitHospitals /: China’s Public Hospitals Report Mixed Fortunes as Financial Pressures Mount

CX Daily: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush 

United States

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software.  The Company's products provide interactive 3D graphics to the mainstream personal computer market.

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NVIDIA Corp (NVDA US)

Worsening NVIDIA Earnings Quality

The market waited with bated breath as NVIDIA released their quarterly earnings yesterday on 19th November, 2025. To almost no one’s surprise, they...

Unfair Advantage

Nvidia: Don't Let Narratives Fool You (Again)

Nvidia's stock-based compensation also highlights some problems related to inventory levels and the amount of stock- based compensation.

Vladimir Dimitrov, CFA

CX Daily: Global Climate Summit Ends in Disarray as U.S. Absence Upends Talks

TOP STORY In Depth: Global Climate Summit Ends in Disarray as U. S. Absence Upends Talks (Belém, Brazil) — A decade ago, a landmark joint...

Caixin Global

Un-Tethered from reality?

The ‘year-end’ book squaring ahead of Thanksgiving caused a mid-month wobble around the November options expiry, which in turn caused some panic...

Mark Tinker

CX Daily: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush

TOP STORIES Chips / Cover Story: U. S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush A global race to dominate artificial...

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