IAC / ANGI 2Q20: Doubling Down
We have always enjoyed following IAC because we share a worldview with management about investing behind THE major secular trend in the world...
297 Views
KE Holdings (Beike) IPO: Valuation Insights
KE Holdings Inc (BEKE US) is a combination of Lianjia, China's leading real estate brokerage brand, and Beike, China's leading integrated online...
471 Views
KE Holdings (Beike) IPO Initiation: Home Truths
KE Holdings Inc (BEKE US) is a combination of Lianjia, China's leading real estate brokerage brand, and Beike, China's leading integrated online...
403 Views
Softbank Group: Deep Dive into Vision Fund's $10bn in Expected Valuation Losses for This Quarter
In this report, we dig into the Vision Fund portfolio to see which investments drive what looks to be a ~¥1,000bn operating loss for Q4. We have a...
354 Views
Coronavirus as Secular Accelerator I: Internet, SMIDcap Edition
In our weekly notes, we’ve been circling around an insight that is beginning to crystallize. Covid 19 is an accelerator of secular shifts in...
353 Views