Stock Stories | Case Studies and Mental Models for Individual Investors

Today we're looking at one of the world's largest transportation companies, Federal Express (better known as FedEx). We'll discuss the history, business model, and financials of this logistics giant.History: [01:02]Business Model: [03:27]Financials: [05:47]Stock Price: [13:08]

Morgan Stanley's Origins and Glass-Steagall Act [00:00:00]Merger with Dean Witter and Diversification [00:02:27]Financials and Business Segments of Morgan Stanley [00:04:51]Debt Issuance and Payments [00:10:35]Increasing Cash Dividends [00:11:45]Stock Performance and Valuation [00:12:49]

Today we'll learn about Citigroup, one of the Big Four American banks. Like its peers, Citi has had a tumultuous history. Is the stock worth the price at current levels?History of Citigroup [00:02:26] Citigroup's history, from its founding in the early 1800s to its expansion and innovation in the 20th century, to its acquisition of Travelers Group and subsequent spinoff, to its troubles during the financial crisis and eventual return to profitability.Citi's Business Model [00:04:50] An overview of Citigroup's business model, including its five major markets: banking, personal banking, markets, Citi Global Wealth, and services.Citigroup's Financials [00:07:00] A summary of Citigroup's financial data over the past several years, including its revenue, net income, dividends, and share repurchases.Citigroup's stock price performance [00:10:22] Citigroup's stock price has been flat over a year and down over 30% over the past five years. The market is pricing it lower than its peers, but it could be a good stock to own potentially.Earnings yield and dividend yield of Citigroup [00:11:20] The earnings yield of Citigroup stock is 15%, and the dividend yield is 4.39%, which is higher than average in the market right now.Is Citigroup a potential value play? [00:12:26] Citigroup could be a potential value play, but it depends on whether you want to own a bank with slower growing revenues compared to its peers.

Bank of America has become one of the largest banks in the United States, and has rebounded nicely from the Great Recession of 2008. We'll look at the history, business model, and financials of this banking giant.01:17 - History of Bank of America. The founder of Bank of America, Amadeo Peter Giannini, opened the Bank of Italy in San Francisco in 1904, which later merged with another bank in Los Angeles in 1928 and was renamed Bank of America. The bank expanded through acquisitions and innovations such as the Bank America card, which later became Visa.05:37 - Bank of America's Recovery. After suffering major losses from acquiring Countrywide Financial, Bank of America paid over $23 billion in fines and downsized, but returned to growth in 2015 and is now the second largest bank by deposits in the US.08:01 - Financials of Bank of America. Bank of America's financials show mid single-digit growth across all segments, indicating a diversified financial business. The bank has seen gradual growth in interest income and revenue, and has been actively buying back shares while paying out a dividend.

Check out these 100 stock market investing lessons below! For all of the fun visuals, check out the video on the Stock Stories YouTube channel.0:51 - (1) Why Invest?01:57 - (2) Investing Goals03:00 - (3) Put Your Money To Work03:39 - (4) What's Your Goal?05:15 - (5) Shares = Business Ownership06:07 - (6) Intrinsic Value07:15 - (7) Greed vs Fear08:03 - (8) Margin of Safety09:00 - (9) Don't Fall In Love09:30 - (10) Investing Takes Time10:08 - (11) High Interest Debt10:49 - (12) Asset Class Time Horizon11:40 - (13) 10-K Filings12:32 - (14) 13-K Filings13:29 - (15) CEO's Letter to Shareholders14:07 - (16) The Three Financial Statements15:02 - (17) Assets vs Liabilities15:59 - (18) Revenue vs Profits16:58 - (19) Price to Sales Ratio17:46 - (20) Price to Earnings Ratio18:21 - (21) Trading Stocks19:39 - (22) Active vs Passive20:58 - (23) Age as Proof of Concept21:54 - (24) Timeless Businesses23:14 - (25) Young Businesses24:11 - (26) Size Matters25:45 - (27) Initial Public Offerings27:33 - (28) Brand Strength28:43 - (29) Oil and Biotech Volatility30:15 - (30) Boring Businesses30:39 - (31) Exciting Businesses31:43 - (32) Beat Inflation32:38 - (33) Returns Don't Matter...At First33:34 - (34) Fees Matter34:16 - (35) Asset Location35:19 - (36) Capital Gains Taxes36:09 - (37) Index Funds36:55 - (38) Index Fund Components37:59 - (39) 80% Under-perform38:38 - (40) 20% Over-perform39:16 - (41) Timing the Market41:27 - (42) Opportunity Cost42:29 - (43) Portfolio Personality43:43 - (44) Invest Internationally44:51 - (45) Structural Issues45:45 - (46) Worst Industries47:38 - (47) Best Industries49:34 - (48) Industry Characteristics50:13 - (49) Old and New Industries50:56 - (50) Businesses Evolve52:06 - (51) Volatility by Size52:46 - (52) Quality of Earnings54:36 - (53) High Regulation55:55 - (54) Barrier to Entry57:50 - (55) Perpetual Debt59:19 - (56) Low Debt60:23 - (57) Interest Rates61:55 - (58) Top Index Components63:37 - (59) Cash Is King65:25 - (60) Share Dilution66:46 - (61) Share Buybacks67:54 - (62) Failure68:37 - (63) Buyouts69:13 - (64) Efficient Market Theory71:28 - (65) Analyst Over-optimism72:32 - (66) Mismatched Expectations73:38 - (67) Insider Buying74:40 - (68) ESOP75:18 - (69) Dividends at Mature Firms76:06 - (70) Dividends at Young Firms76:29 - (71) Dividend Growth and Quality77:34 - (72) Small But Profitable79:02 - (73) Risk Shifting80:00 - (74) 100 Baggers81:10 - (75) Unicorns81:44 - (76) Value Trap82:40 - (77) Business vs Stock Performance83:29 - (78) ROE Definition84:04 - (79) Long Term Value = ROE85:03 - (80) Valuation and Expectations85:50 - (81) Average Business, Super Cheap86:28 - (82) Excellent Business, Super Expensive87:06 - (83) Three Dimensions of a Stock88:13 - (84) Leverage Effects89:09 - (85) Three-Legged Stool90:33 - (86) Risk-Adjusted Total Return91:36 - (87) Spin-offs and Split-offs92:30 - (88) International Expansion93:51 - (89) Taxes on Foreign Dividends95:13 - (90) Wash Sale Rule95:57 - (91) Float97:40 - (92) Total Addressable Market99:19 - (93) Volume / Margin Mix100:49 - (94) Acquisition Logic102:16 - (95) Industry Stabilization103:27 - (96) Three Levels of Risk104:33 - (97) Many Faces of Diversification105:44 - (98) Debt Structure106:54 - (99) Horizontal and Vertical Thinking108:20 - (100) The Most Important Lesson...Email: alex@stockstoriespodcast.com

In this episode of the Stock Stories podcast, we will be discussing the history, business model, and financials of Goldman Sachs. We will provide a brief history of the company, highlighting its innovation in trading capabilities and investment banking services. Today, Goldman Sachs has three main divisions: global banking and markets, assets and wealth management, and platform solutions. It is worth noting that Goldman Sachs derives most of its revenue from investment activities, with the investment management division showing steady growth. We will also take a look at the balance sheet and cash flow statement of Goldman Sachs, concluding that the stock is not undervalued or overvalued.00:46 - Goldman Sachs HistoryThe history of Goldman Sachs, from its origins in commercial paper trading to its expansion into investment banking and asset management.05:20 - Goldman Sachs Business ModelAn overview of Goldman Sachs' business model, including its three main divisions: global banking and markets, assets and wealth management, and platform solutions.08:21 - Goldman Sachs FinancialsA breakdown of Goldman Sachs' revenue streams, including investment banking, investment management, commissions and fees, and market making.10:08 - Goldman Sachs' Revenue Goldman Sachs' revenue in investment management has steadily grown, while their investment banking division needs improvement.11:04 - Goldman Sachs' Expenses and Profits Goldman Sachs' expenses are mostly compensation and benefits, with a profit of 107 billion in 2022, a far cry from the 21 billion in 2021.13:48 - Goldman Sachs' Cash Flow and Stock PerformanceGoldman Sachs has a good cash position relative to their loans, invests in acquisitions and technology, pays dividends, and has a stock price history of 38% growth in the past five years.Email: alex@stockstoriespodcast.com

Today we discuss the importance of conservatism in banking and the risks of not managing risk well. He then analyzes the history, business model, and financials of Wells Fargo, noting that the bank is a fundamentally good business with potential for growth. Despite a decline in revenue due to economic headwinds and a scandal related to fraudulent cross-selling, I believe that Wells Fargo is simplifying its operations and positioning itself for strong shareholder returns in the future. While I would prefer a slightly cheaper valuation, I do consider Wells Fargo to be a good business and a potential investment opportunity.00:46 - History of Wells FargoThe founding of Wells Fargo by Henry Wells and William Fargo, their early courier business, and the company's expansion to the West Coast during the gold rush. 05:33 - Divisions of Wells FargoAn overview of Wells Fargo's four main divisions: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management.07:38 - Financials of Wells Fargo A breakdown of Wells Fargo's revenue, including net interest income and non-interest income, and how the company is still recovering from the scandal related to fraudulent cross-selling.09:28 - Valuation of Wells Fargo Alex Mason discusses the valuation of Wells Fargo's stock, which he believes is relatively cheap at 11 times earnings.Email: alex@stockstoriespodcast.com

In today's episode, I reveal the big project that I've been working on for the past year.Email: alex@stockstoriespodcast.com

Today, I am excited to share with you the story of JP Morgan Chase, the largest bank in the United States. We'll look at the history of the bank, its business model, financials, and risks. I believe that rising interest rates will ultimately benefit the bank as long as the overall system remains robust, and we'll look at potential impacts of interest rates on JP Morgan Chase's revenue and profits. History of JP Morgan Chase [00:00:42] Business Model of JP Morgan Chase [00:03:39] Financials and Risks of JP Morgan Chase [00:07:18] Interest Rates and Revenue Growth [00:09:06] JP Morgan Chase Stock Price [00:10:46] 

Today we discuss the history, business model, and financials of NVR Inc, a home builder, to determine if it is a potentially good investment for individual investors. We go over the company's financials, including their revenues, home building income, and net income, including the fact that NVR's net income has doubled (!!) over the past couple of years, and their earnings per share have been increasing rapidly. We also look at the risks of this cyclical company.History of NVR: [00:00:00]Business Model: [00:08:07]Financials: [00:08:58]NVR Inc. Risks and Conclusion: [00:14:34]

Macy's is one of the iconic American department stores that has survived over the decades, even after rapid consolidation in the industry. Although the company has an impressive past, the finances of the company struggled during the pandemic, but have since rebounded. Can Macy's offer a compelling return to investors today, given it's cheap valuation?00:00 - Intro00:49 - History03:49 - Business Model07:07 - Financials13:08 - Valuation and Final Thoughts

Alphabet, parent company of Google is a tech juggernaut. While starting with one powerful product - Search - the company has continued to innovate over the last two decades. Now, its reach expands into nearly every corner of the internet, from Maps, to Gmail, and more. The business also has 400 subsidiaries which explore the business potential of everything from artificial intelligence, to self-driving cars, to solutions for aging.0:00 - World's Greatest Knowledge Company1:34 - History11:46 - Business Model17:27 - Financials25:44 - Risks28:12 - Yup, This is the One...

Bed Bath and Beyond was once a great brick and mortar retailer, but now it is on the verge of bankruptcy. How did this happen? What is the company's story, and how did it rise to prominence and what caused its decline? In today's episode we explore these questions from the investor's perspective.0:00 - Bed Bath and Bankrupt1:32 - History14:00 - Business Model15:27 - Financials20:06 - Email with a ListenerEmail: alex@stockstoriespodcast.com

I'm back! Happy 2023!! I want to start the year off by talking a bit about the philosophy of financial independence, and what the various phases are. I hope you find this useful as you continue down your investing journey, in whatever phase you're in.-AlexEmail: alex@stockstoriespodcast.com

Hey, what's up? It's been a little while, so I came to say hello

Banks are where our money lives. But with the rise of fintech companies and cryptocurrencies, is that all going to change? Today we explore how companies like Chase, Bank of America, Wells Fargo, and Citigroup compete with the likes of SoFi, PayPal, and more. Is the FinTech revolution going to change banking?0:00 - Where Does Money Live?1:10 - What Is A Bank, Anyway?4:35 - The Big Ones5:02 - FinTech's Rise6:54 - No Fear10:43 - The Bottom Line

Starbucks is known the world over for its gourmet coffee.  It's branding is iconic and it sells billions of dollars worth of coffee every year.  But is the company still what it used to be?  Can Starbucks keep it's magic alive...and what does that mean for future investors in the stock?0:00 - We LOVE Coffee...1:01 - The Brew Begins2:36 - How It Was Different3:44 - Growth5:35 - Investor Returns6:14 - Business Issues Today8:43 - What Can They Do?

Today we'll look at some of my favorite investing books and why they're great. Each book has its own strengths, and is appropriate for different steps on your investing journey. Check out the links below!Book Links:The Intelligent InvestorOne Up On Wall StreetBeating The StreetThe Single Best InvestmentQuality InvestingThe Motley Fool Investment GuideThe Future For InvestorsFinancial StatementsCommon Stocks and Uncommon Profits0:40 - The Intelligent Investor2:22 - One Up On Wall Street3:51 - Beating The Street4:41 - The Single Best Investment5:23 - Quality Investing6:22 - The Motley Fool Investment Guide7:37 - The Future For Investors9:35 - Financial Statements11:07 - Common Stocks and Uncommon Profits

Today we're discussing insurance company Progressive (PGR). Known for its iconic advertising characters, Progressive Insurance is one of the faster growing publicly traded auto insurance stocks. In this episode we learn the state of Progressive's current business, and highlight some aspects of its growth profile.0:00 - The Commercials0:50 - Why They Grew2:00 - Financial Results5:11 - Risks7:03 - The Dividend Policy

MetLife hasn't always been publicly traded.  In fact, it was a private company mutually owned by its policy holders until 2000.  How has the stock done since then?  And how could you possibly own thousands of dollars worth of MetLife stock without every buying it?  0:00 - What Does MetLife Do?0:50 - How It Got Started1:50 - Demutualization3:38 - MetLife Today7:21 - How Much Could You Have Made?

What is the greatest stock in the history of the stock market? I've found the answer...and am so excited to share my findings with you! The answer might surprise you.0:00 - How It Started...2:01 - What You Would Think2:45 - Mental Model: Availability Bias3:42 - Company Background7:01 - What Really Happened13:00 - Putting It Together24:55 - Total Return

Aflac is famous for its duck commercials, but what does the business actually do?  This U.S. provider actually makes a lot of money in Japan, and does so by selling cancer insurance as well as other types of insurance products.0:00 - The Returns1:00 - What Do They Do?2:04 - Aflac History4:08 - Financials5:17 - Why Is This Happening?6:57 - Valuation7:40 - The Good Part

It's hard trying to figure out where to invest your money sometimes. There's information coming from everywhere. Here's a simple framework you can go by when figuring out where to allocate your next dollar toward investments.0:00 - The Problem0:52 - The Pyramid1:45 - Pyramid Level 12:43 - Pyramid Level 23:29 - Pyramid Level 34:41 - Pyramid Level 4

Disney is a company that many love and are still customers of, though the business itself has been undergoing a big transformation in recent years.  Although the pandemic hurt the company financially because of closed theme parks, the business is making a comeback in this segment.  They are also investing heavily in the Disney+ platform, which is beginning to bear fruit and is likely to become profitable within the next few years.0:00 - But Why...?0:20 - The Stock2:02 - 2021 Annual Report Notes6:05 - Historical Earnings7:33 - How It Doubles

Netflix took the world by storm in the last decade, transforming itself from a small company that mailed DVDs to a household name with a plethora of streaming content.  Recent competitive pressures have forced the company to rethink their business model.  Will they survive?  Do investors have a shot at making money from here?0:00 - Netflix0:30 - The Stock2:00 - Management's Focus4:14 - Bill Ackman6:45 - 2021 Annual Report9:10 - Quick Valuation

Bear markets bring stock prices down.  Everyone gets that.  But what if there was a way to not only stabilize your returns, but actually increase them through bear markets?  Today's episode draws on research from Wharton professor Dr. Jeremy Siegel, in his fantastic book The Future For Investors:Check out the book here:https://www.amazon.com/Future-Investors-Tried-True-Triumph/dp/140008198X/ref=asc_df_140008198X/?tag=hyprod-20&linkCode=df0&hvadid=312006100296&hvpos=&hvnetw=g&hvrand=11733129490204387519&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9051734&hvtargid=pla-470265575929&psc=10:00 - Boost Returns1:01 - How It Works2:31 - Philip Morris Example4:50 - Kroger Example7:11 - Kroger Returns10:03 - Bonus Insights

Capital gains aren't the only way to make money from stocks. And it's not just through dividends either. There are actually five ways investors make money from stocks, and we'll learn about each of them and the concept of total return.Note: we don't cover options, which are an entirely different animal and a different way to leverage the stock market to make money.0:00 - Just One Piece0:46 - Method #11:14 - Method #21:48 - Method #33:45 - Method #44:54 - Method #5

I Bonds are now offering over 9.6% interest - but it is worth it? Today's episode covers the basics as well as the nuances of this passive income opportunity.0:00 - Passive Income Now0:25 - The Basics1:45 - How I Bonds Work2:51 - An Example4:21 - Other Factors

Microsoft is well known for their prowess in the cloud computing space as well as their gaming division. But there's more to the company than meets the eye. What is Microsoft's true strategic advantage? We cover this secret in today's video.0:00 - Microsoft is one of The Best0:45 - Some Facts1:42 - People Forget This4:12 - More Advantages5:45 - Satya's Quote6:57 - Success In Spite Of

New investors do this all the time. They see a new investment and get really excited about it.  Here's what to think about.0:00 - The Problem1:50 - What We Can Do2:50 - Two Examples3:35 - Data Behind The Examples5:39 - NEVER Forget This6:45 - IPO Data7:55 - The Questions to Ask

McDonald's was once the most loved fast food brand in America.  They practically invented modern fast food.  But times have changed.  A lot of people are eating healthier, and many more fast casual and affordable food options are out there.  So as investors, we have to ask ourselves the question - why does McDonald's still exist?  And will they thrive in the future?  That's exactly what we're going to find out right now.0:00 - Why Does McDonalds Still Exist?0:45 - How Did McDonalds Get Started?2:44 - How McDonalds Makes Money4:50 - Franchisees6:07 - Don't Count Them Out Yet7:07 - Recent Financials7:45 - The Secret Sauce

It's not enough to look at a stock and decide whether it's a buy or not.  We have to look at it in context with other investing opportunities.  Let's look at Hyatt stock and compare it to its rival Marriott, in order to find out which one is the better buy.Link to Marriott podcast: https://stockstoryteller.com/mar/0:00 - One Analysis Is Not Enough1:03 - Factor #13:16 - Factor #24:28 - Factor #37:10 - Factors Worth Considering

As one of largest hotel chains in the world, Hyatt has become known for its luxury brands in both the Americas and across the world.  But is the stock as good as the business seems?  Today we're covering the history, business model, and financials of Hyatt Hotels ($H).0:00 - On Vacation!0:50 - How Did Hyatt Get Started?6:01 - Business Model7:21 - Financials9:15 - Should You Buy, Sell, or Hold?

Every intelligent investor wants to know the key principles they need to see success with their investments.  Today, we talk about one simple principle that is often overlooked, and discuss some examples (and an anti-example) of this principle in action.0:00 - It's Hard Enough1:21 - An Example With Chocolate3:33 - How It Works5:09 - The Anti-Example6:28 - The Principle In Action (Making Money)

Over the past century, Harley-Davidson has made a name for itself as an iconic American motorcycle brand.  It helped grow and maintain biker culture all over the world.  Where does Harley-Davidson come from, and from an investor's perspective, what kinds of things should we think about with this business?  Today we look at the history, business model, and financials of Harley-Davidson.0:00 - The Iconic Brand1:25 - How Did Harley-Davidson Get Started?4:58 - Harley-Davidson's Business Model6:09 - Financials9:01 - Should You Buy, Sell, or Hold?

What are the 5 types of investors?  Whether you invest in stocks, real estate, crypto, etc. you NEED to understand these investor archetypes, and the pros and cons of each.0:00 - Different Investors Have Different Approaches0:44 - Type #12:17 - Type #24:00 - Type #35:28 - Type #46:40 - Type #5

Why Church and Dwight?  That's where Arm and Hammer baking soda, Trojan condoms, First Response pregnancy tests, Xtra laundry detergent, and so many other products come from.  They make so many things that you and I probably use every day.  Today we'll learn about the history, business model, and financials of Church and Dwight, and try to understand whether or not the stock is a good buy today.0:00 - Why Church and Dwight?0:54 - How Did Broadcom Get Started?3:24 - Broadcom's Business Model5:09 - Financials7:42 - Valuation

Broadcom is all about connectivity.  Everything from Wifi Routers, to smartphones, to data centers use their products.  Today we'll learn about the history, business model, and financials of Broadcom (formerly Avago Technologies).0:00 - Why Broadcom?0:58 - How Did Broadcom Get Started?3:30 - Broadcom's Business Model5:58 - Financials9:20 - What's the Growth Mechanism?

Big tech, now known more commonly by names such as Apple and Amazon, used to simply be ‘IBM'.  International Business Machines began a huge wave of computer science innovation and ushered the world into a new era. Today we discuss the history, business model, and financials of IBM, and whether or not the stock might make a good investment.0:00 - Big Blue0:50 - How Did IBM Get Started?6:30 - IBM's Business Model8:06 - Financials

Nvidia has made a name for itself in the arena of graphic cards, having invented the GPU.  They've expanded into professional visualization, the auto market, and are helping power the artificial intelligence revolution.  Today we learn about the history, business model, and financials of Nvidia ($NVDA).0:00 - Start2:30 - How Did Nvidia Get Started?5:00 - Nvidia's Business Model7:00 - Financials15:32 - Buy, Sell, or Hold?

Intel has helped power the rise of the personal computer, birthing the microprocessor and bringing computers to life.  Today we're studying the history, business model, and financials of Intel Corporation ($INTC).0:00 - Start0:56 - How Did Intel Get Started?4:08 - Intel's Business Model8:16 - Financials10:40 - Buy, Sell, or Hold?

Advanced Micro Devices started out as just a small competitor to its bigger brother, Intel.  After developing competing microprocessors, AMD made a name for itself and began to flourish as a company.  In today's episode, we'll look at the history, business model, and financials of Advanced Micro Devices ($AMD).0:00 - Start1:00 - How Did AMD Get Started?7:11 - AMD's Business Model9:24 - Financials12:30 - Buy, Sell, or Hold?

Where did Lowe's come from and how did they come to become a huge player in the home improvement space?  Today we look at the history, business model, and financials for Home Depot's biggest competitor, Lowe's.0:00 - Start1:13 - How Did Lowe's Get Started?6:06 - Lowe's Business Model7:32 - Financials11:54 - Buy, Sell, or Hold?

When we commit to something, we're more likely to follow through with it.  This is especially true when we commit for long periods of time.  But how does this work for or against us as investors?  We explore this concept in today's show.Link to Robert Cialdini's book Influence here:https://tinyurl.com/rv6ahkj40:00 - Start3:09 - My Failure With The Mental Model4:25 - Bill Ackman's Decision5:38 - Logic Behind Netflix Decision7:00 - An Idea To Apply

Home Depot has dominated the home improvement industry, but how did it happen?  In today's episode we look at Home Depot's modest beginnings, how it grew into a powerhouse, and what the business offers for investors today.0:00 - Start3:00 - Home Depot Beginnings5:10 - How Home Depot Works7:54 - Financials13:20 - Home Depot Historical Returns

As an investor, failure at some point is inevitable…especially when you're just getting started!  What separates great investors from those who never make money is what you LEARN from your failures.  This one has been a long time in the making, but today we look at not only what my worst investment has been, but what lessons you can take from my experience.0:00 - Start1:25 - Buying The Stock6:15 - Lesson #16:52 - Lesson #28:12 - Lesson #39:04 - Lesson #410:20 - Lesson #511:23 - Lesson #613:12 - Recap

Can you imagine a world without light?  Electricity is an essential part of modern life, and lighting products play an essential role in it.  Acuity Brands is one of the largest lighting manufacturers in North America - let's learn about their history and economic characteristics in today's episode.0:00 - Start1:11 - How Did Acuity Brands Get Started?5:38 - Acuity's Business Model9:25 - Financials11:43 - Final Thoughts On Acuity Brands

What is Etsy's business model and how does it make money?  Though a few weeks ago we broadly covered this business, today we're doing a deeper dive to understand some of the financials in order to understand Etsy's investment thesis.0:00 - Start3:15 - What Does Etsy Do?8:20 - Metcalfe's Law13:50 - Fundamentals17:40 - Return On Equity22:40 - Return On Invested Capital29:43 - Risks31:03 - Final Thoughts On Etsy

What is consulting, and how did one of the largest consulting firms in America get its start?  Find out in today's episode, as we explore the history, business model, and financials of Accenture.0:00 - Start1:42 - The Big 83:42 - Trouble Was Brewing6:31 - Change Specialists10:29 - Financials16:18 - Final Thoughts On Accenture

How do we choose between stocks when the whole market is down?  Often, during corrections, there are multiple seemingly good stocks to buy.  How do we think about the trade-offs?0:00 - Start2:35 - Deciding Between Two Stocks5:45 - Avoiding Investor FOMO7:18 - Not Every Stock Drops Proportionally9:08 - The Mental Model At Play Here

Some businesses rise on their own as the result of a spin-off from a larger business.  AbbVie is one of these!  In today's episode we learn about what AbbVie has going for it as well as some of the risks investors should consider.0:00 - Start1:18 - How Did AbbVie Get Started?2:10 - Tax Inversions3:50 - How The Business Works8:08 - Financials14:35 - Final Thoughts On AbbVie