Q4 2022 and Full-Year analysis and valuation
4

January 2023

What is greatness?
2
The fruits of relative valuation.
Some businesses are in a league of their own.
6
A beautifully simple asset.
A new year and an old habit.
9

December 2022

Outcomes are never quite what we expect.
3
Things become fuzzy the further you look out.
10
Innovation is always first ridiculed.
8
A look at Meta's least appreciated asset.
7

November 2022

Liking what everyone else loves to hate.
6
Unknown microcap x catalyst x market chaos = ?
4