@www.incrementalreturns.co
Another concentrated high-quality investment portfolio.
https://incrementalreturns.co
https://incrementalreturns.co
The lost human potential
February 8, 2026 at 3:28 PM
The lost human potential
A framework for categorizing SaaS companies by defensibility & survivability In the era of Claude and vibe coding.
February 7, 2026 at 4:09 PM
A framework for categorizing SaaS companies by defensibility & survivability In the era of Claude and vibe coding.
What Kobe Bryant and his 800 makes can teach us about process vs outcome investing.
https://f.mtr.cool/tzlsxkoyad
https://f.mtr.cool/tzlsxkoyad
February 7, 2026 at 4:03 AM
What Kobe Bryant and his 800 makes can teach us about process vs outcome investing.
https://f.mtr.cool/tzlsxkoyad
https://f.mtr.cool/tzlsxkoyad
Want to avoid investing in the next disaster CEO?
Here are 5 steps to help you valuate leadership.
Here are 5 steps to help you valuate leadership.
February 4, 2026 at 6:02 PM
Want to avoid investing in the next disaster CEO?
Here are 5 steps to help you valuate leadership.
Here are 5 steps to help you valuate leadership.
New video out!
Why Your "Safest" Investments Might Be Your Riskiest (Quality Trap Breakdown)
Why Your "Safest" Investments Might Be Your Riskiest (Quality Trap Breakdown)
Why Your "Safest" Investments Might Be Your Riskiest (Quality Trap Breakdown)
Quality traps are the most dangerous investments because they disguise themselves as safe bets. Learn to spot declining ROIC, shrinking margins, and eroding ...
youtu.be
January 30, 2026 at 9:31 PM
New video out!
Why Your "Safest" Investments Might Be Your Riskiest (Quality Trap Breakdown)
Why Your "Safest" Investments Might Be Your Riskiest (Quality Trap Breakdown)
I Watched 200 Finance Videos. Buy These 14 Stocks!
The consensus stock picks from YouTube
The consensus stock picks from YouTube
I Watched 200 Finance Videos. Buy These 14 Stocks!
Stop watching "Top Stock Picks" videos. I watched 200 of them so you don't have to.I tracked every single stock recommendation from 50 of the most popular Fi...
youtu.be
January 30, 2026 at 4:03 PM
I Watched 200 Finance Videos. Buy These 14 Stocks!
The consensus stock picks from YouTube
The consensus stock picks from YouTube
Here are 9 lessons from "The Warren Buffett Way" by Robert Hagstrom.
January 29, 2026 at 6:01 PM
Here are 9 lessons from "The Warren Buffett Way" by Robert Hagstrom.
The uber bull case on $UBER
Uber Stock: Why This Investor Thinks There Is Still Massive Upside From Here (Ticker: UBER)
Podcast Episode · Chit Chat Stocks · 01/21/2026 · 59m
podcasts.apple.com
January 29, 2026 at 4:12 PM
The uber bull case on $UBER
Why GMO’s quality team has made Healthcare its second largest allocation.
Quality Opportunities in Healthcare
Recent underperformance across the Healthcare sector has set the stage for a compelling long-term opportunity, particularly among higher quality companies.
www.gmo.com
January 28, 2026 at 4:03 PM
Why GMO’s quality team has made Healthcare its second largest allocation.
Most investors spend hours analyzing moats and margins.
But they'll invest in a company without analyzing the CEO.
The business model matters. But the person running it matters too.
A great CEO can turn a decent business into a compounding machine. A bad one can destroy it.
But they'll invest in a company without analyzing the CEO.
The business model matters. But the person running it matters too.
A great CEO can turn a decent business into a compounding machine. A bad one can destroy it.
January 27, 2026 at 6:02 PM
Most investors spend hours analyzing moats and margins.
But they'll invest in a company without analyzing the CEO.
The business model matters. But the person running it matters too.
A great CEO can turn a decent business into a compounding machine. A bad one can destroy it.
But they'll invest in a company without analyzing the CEO.
The business model matters. But the person running it matters too.
A great CEO can turn a decent business into a compounding machine. A bad one can destroy it.
Amazon's Trainium chips cut AI training costs 30-50% vs NVIDIA through lower manufacturing costs and aggressive pricing.
Amazon Trainium: Scaling AI Without Breaking the Bank
In this article, I am publishing a comprehensive deep dive into Amazon’s custom ASIC chip, Trainium. I will cover the technical details, as well as the performance, costs, and strategic factors of this unit, and what they mean for Amazon and the broader semiconductor ecosystem.
www.uncoveralpha.com
January 27, 2026 at 4:14 PM
Amazon's Trainium chips cut AI training costs 30-50% vs NVIDIA through lower manufacturing costs and aggressive pricing.
Reposted
ICYMI: I looked through a published archive of Boston newspapers from the 1760s, when British troops were stationed in the city.
The accounts read remarkably similar to what's happening in Minneapolis.
radleybalko.substack.com/p/two-cities...
The accounts read remarkably similar to what's happening in Minneapolis.
radleybalko.substack.com/p/two-cities...
Two cities under siege
Remarkably similar scenes from Boston and Minneapolis, 260 years apart, show a federal government betraying its founding principles.
radleybalko.substack.com
January 27, 2026 at 1:25 PM
ICYMI: I looked through a published archive of Boston newspapers from the 1760s, when British troops were stationed in the city.
The accounts read remarkably similar to what's happening in Minneapolis.
radleybalko.substack.com/p/two-cities...
The accounts read remarkably similar to what's happening in Minneapolis.
radleybalko.substack.com/p/two-cities...
CME Group's moat in 4 factors:
1️⃣ Network effects: Liquidity attracts more liquidity
2️⃣ Switching costs: $22B clearinghouse locks traders in
3️⃣ Barriers to entry: Competitors can't break the chicken-and-egg problem
4️⃣ Intangible assets: Exclusive licenses & data
For more on each one 👇
1️⃣ Network effects: Liquidity attracts more liquidity
2️⃣ Switching costs: $22B clearinghouse locks traders in
3️⃣ Barriers to entry: Competitors can't break the chicken-and-egg problem
4️⃣ Intangible assets: Exclusive licenses & data
For more on each one 👇
January 26, 2026 at 6:02 PM
CME Group's moat in 4 factors:
1️⃣ Network effects: Liquidity attracts more liquidity
2️⃣ Switching costs: $22B clearinghouse locks traders in
3️⃣ Barriers to entry: Competitors can't break the chicken-and-egg problem
4️⃣ Intangible assets: Exclusive licenses & data
For more on each one 👇
1️⃣ Network effects: Liquidity attracts more liquidity
2️⃣ Switching costs: $22B clearinghouse locks traders in
3️⃣ Barriers to entry: Competitors can't break the chicken-and-egg problem
4️⃣ Intangible assets: Exclusive licenses & data
For more on each one 👇
Reposted
Payment processors were against CSAM until Grok started making it
Payment processors were against CSAM until Grok started making it
“The industry is no longer willing to self-regulate.”
buff.ly
January 26, 2026 at 4:40 PM
Payment processors were against CSAM until Grok started making it
Superior customer acquisition and retention let Netflix extract more value from IP than traditional studios ever could.
Netflix and the Hollywood End Game
Netflix is driving the Hollywood end game, likely confident it can increase the value of IP, and fend off YouTube.
stratechery.com
January 26, 2026 at 4:45 PM
Superior customer acquisition and retention let Netflix extract more value from IP than traditional studios ever could.
Incremental Insights #82
✅ Netflix wins
✅ GMO’s quality team on their increased healthcare allocation
✅ Youtubers’ best stock picks
✅ Netflix wins
✅ GMO’s quality team on their increased healthcare allocation
✅ Youtubers’ best stock picks
Incremental Insights #82
The best of what I read, listened to, and watched during the week
www.incrementalreturns.co
January 25, 2026 at 3:41 PM
Incremental Insights #82
✅ Netflix wins
✅ GMO’s quality team on their increased healthcare allocation
✅ Youtubers’ best stock picks
✅ Netflix wins
✅ GMO’s quality team on their increased healthcare allocation
✅ Youtubers’ best stock picks
Why Ed Yardeni’s “Roaring 2020s” Economy & Markets Are Alive and Well
Why Ed Yardeni’s “Roaring 2020s” Economy & Markets Are Alive and Well
In 2020, influential strategist Ed Yardeni predicted the economy & markets were entering a “Roaring 2020s” decade. So far, he’s proven the naysayers wrong. H...
youtu.be
January 23, 2026 at 6:31 PM
Why Ed Yardeni’s “Roaring 2020s” Economy & Markets Are Alive and Well
High P/E ratios don't guarantee overvaluation.
Quality companies that consistently beat growth expectations and maintain competitive advantages can justify premium multiples.
Quality companies that consistently beat growth expectations and maintain competitive advantages can justify premium multiples.
When 40x P/E is a Bargain
Lessons from a 1992 short-seller attack and the mechanics of "beating the fade"
www.flyoverstocks.com
January 23, 2026 at 4:03 PM
High P/E ratios don't guarantee overvaluation.
Quality companies that consistently beat growth expectations and maintain competitive advantages can justify premium multiples.
Quality companies that consistently beat growth expectations and maintain competitive advantages can justify premium multiples.
Business Breakdowns does a deep dive into one of my favorite positions right now, GE Aerospace $GE
GE Aerospace: Full Throttle
Podcast Episode · Business Breakdowns · 11/14/2025 · 59m
podcasts.apple.com
January 22, 2026 at 6:31 PM
Business Breakdowns does a deep dive into one of my favorite positions right now, GE Aerospace $GE
The 4 factors that built $CME's economic moat
https://www.incrementalreturns.co/p/cme-the-exchange-empire-economic-moat
https://www.incrementalreturns.co/p/cme-the-exchange-empire-economic-moat
January 22, 2026 at 5:23 PM
The 4 factors that built $CME's economic moat
https://www.incrementalreturns.co/p/cme-the-exchange-empire-economic-moat
https://www.incrementalreturns.co/p/cme-the-exchange-empire-economic-moat
AI-generated ads from scratch beat human experts by 19% in real Google campaigns.
And AI edits of existing human designed ads failed.
And AI edits of existing human designed ads failed.
Digital Advertising's "Bitter Lesson" Moment
Eric Seufert recently had an interesting podcast with a couple of professors who authored the paper titled “The Impact of Visual Generative AI on Advertising Effectiveness”.
mbideepdives.substack.com
January 22, 2026 at 4:03 PM
AI-generated ads from scratch beat human experts by 19% in real Google campaigns.
And AI edits of existing human designed ads failed.
And AI edits of existing human designed ads failed.
Tomorrow’s post breaks down the 4 key factors that lead to CME Group's wide economic moat.
✅ Why liquidity attracts more liquidity
✅ The $22B clearinghouse advantage
✅ How exclusive licenses lock in traders
Subscribe here 👇
www.incrementalreturns.co
✅ Why liquidity attracts more liquidity
✅ The $22B clearinghouse advantage
✅ How exclusive licenses lock in traders
Subscribe here 👇
www.incrementalreturns.co
January 21, 2026 at 6:53 PM
Tomorrow’s post breaks down the 4 key factors that lead to CME Group's wide economic moat.
✅ Why liquidity attracts more liquidity
✅ The $22B clearinghouse advantage
✅ How exclusive licenses lock in traders
Subscribe here 👇
www.incrementalreturns.co
✅ Why liquidity attracts more liquidity
✅ The $22B clearinghouse advantage
✅ How exclusive licenses lock in traders
Subscribe here 👇
www.incrementalreturns.co