Value Investing for Sophisticated Investors

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Why Berkshire Is Buying SIRI
It's basically OXY
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Aaron Pek
2

August 2024

INTC: Cigar Butt / Margin of Safety? (Part 2)
Wells Fargo 2024: Solvency Issues Overblown
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Aaron Pek
INTC Primer: No Equity Dilution Necessary (Part 1)
Some chips can be manufactured for Uncle Sam at TSMC. For everything else, there's Intel.
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Aaron Pek
Why Buffett BOUGHT Apple
The Isaac Newton of our time
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Aaron Pek
5
How 2 Nerds Destroyed The World
Unwinding of the Yen Carry Trade and why it's NBD
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Aaron Pek
2
The Intelligent Gambler: 10% x 1,000 > 90% x 100
The Art of War & Politics in Markets: Distilling Risk out of Leverage
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Aaron Pek
6

July 2024

Shopify: Disrupting Salesforce, not Amazon (Part 2)
Enterprise: 15% Revenue CAGR over the next 15 years, even before AI
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Aaron Pek
Shopify: Can 600x P/E Be Undervalued? (Part 1)
SaaS Incremental Rev/S&M spend has peaked, and Interest Rates might be falling. Point of Maximum Pessimism?
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Aaron Pek
GameStop: Not the Same Stock
As it was in 2021 or 2019 (Valuation inside)
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Aaron Pek
 and 
MarketLab
VLRS: The Next SEA Ltd? (Part 2)
15% Revenue CAGR at a normalized P/E of 6.8x
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Aaron Pek

June 2024

VLRS: Lowest-Cost Airline in the World in 2020 (Part 1)
3rd lowest share price trough in its history (including pandemic)
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Aaron Pek
4
When To Sell Stocks, According To Warren Buffett
"Our Favorite Holding Period Is Forever" - What Did Buffett Really Mean?
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Aaron Pek
3
© 2024 Aaron Pek
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