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We are in a quest to redefine investment research, applying value investing to today's technologies and business models in search for asymmetric risk-reward.

Since its inception in 2015, the IW Portfolio has yielded 206%, representing 38% annual ... more

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Facebook, Shame And Profits: The Long Thesis
Facebook's multi-billion dollar commitment to safety may not appease regulators, but will elevate Facebook's barrier to entry even higher.
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EC HH Who Is Who In China Retail
We explore the current status of the thriving Chinese retail ecosystem, and the increasing clustering of the myriad retail players into either one of two large, dominant camps: the Alibaba camp and the Tencent camp.
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E The Time Has Come For Apple To Buy Tesla
The Apple-Tesla merger has been suggested before. But things have changed: technology is blurring industry boundaries and Tesla wants to change its ownership structure.
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SolarEdge Q2 2018: Huawei Looms Large On The Horizon
In 2018, SolarEdge is navigating a flattish solar market in North America, which is responsible for about half of the revenues.
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Tesla Is Going Private - A Message To Shorts
Elon Musk has hinted at a $420/share go-private offer for Tesla, which would mark the end of an era for Tesla stock.
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Adding JD.com To The Portfolio
As long as JD.com keeps cementing its dominant position with limited amounts of cash burn and share dilution, chances are that meaningful shareholder value is being created.
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Latest Comments
Facebook, Shame And Profits: The Long Thesis
5 months ago

I think your concerns are very valid.

Not a big fan of Facebook the platform as a user, either. But ultimately, FB the company has the tech (algorithms), data, know-how, business network etc. to quickly grow any social network they may acquire or develop organically.

It may well be that social networks have generational life cycles of 20 years of so. But the human need to connect with others will not go away. And while platform "brands" may age, competitive advantages in the underlying infrastructure (back-end) remain. Yesterday the trendy brand was Facebook, today it is Instagram and tomorrow it'll be something else. Chances are FB the company will keep reigning because they can afford to pay 2x as much as any other company for the next social "brand"/front-edge and still generate lots of value thanks to their advantages in the back-end.

With news curation: it is a problem to all platforms, not only FB. Not competitor will be able to allow fake-news/hate speech etc. on its platform and get away with it for very long...

In this article: FB
Who Is Who In China Retail
5 months ago

Thank you for reading.

Subscribe to the IW Newsletter @ www.invworks.com/subscribe to keep up to date with our latest research and stock picks --no charge.

In this article: TCEHY, TCTZF, BIDU, BABA, GOOGL, JD, VIPS, TTD, PDD
The Time Has Come For Apple To Buy Tesla
5 months ago

You're right that the case is more clear for $TSLA than for $AAPL.

I think for $AAPL, it boils down to the progress of Project Titan --their automotive program.

It Titan is in better shape than the consensus belief, then they may do well to pass on the opportunity. Although I'm very skeptical of Titan. Even if they are developing a 1st class self-driving solution consisting of sensors, chips and SW, it would be the first time they don't take full control of the overall product --the car.

Also, EV brand authenticity belongs to Tesla. It is too late for Apple to develop the brand power it has on handheld devices in EV, IMO.

In this article: AAPL, TSLA
The Time Has Come For Apple To Buy Tesla
6 months ago

Yes, that's why we think there would be a chance of Musk agreeing this time.

Although he is unlikely to relinquish control. That was apparently the deal breaker with Softbank one year ago.

That ideal for investors would be that he maintains control (and 20% ownership) but welcomes outside help (financial and operational).

In this article: AAPL, TSLA
The Time Has Come For Apple To Buy Tesla
6 months ago

Thanks for reading.

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In this article: AAPL, TSLA
SolarEdge Q2 2018: Huawei Looms Large On The Horizon
6 months ago

Thank you for reading.

For the latest insights into SEDG and other wonderful stocks, subscribe to the IW Newsletter @ invworks.com/subscribe (free).

In this article: SEDG
Google Q2 2018: AI And Cloud Driving The Show
7 months ago

For those of you that didn't know us :

you can subscribe to the IW Newsletter to learn about all future stock picks and research:

* www.invworks.com/subscribe *

It is free in 2018 and offers lots of actionable ideas.

In this article: , GOOG, GOOGL
Google Q2 2018: AI And Cloud Driving The Show
7 months ago

Hi Carol,

There will be many winners, and Google has everything on its favor to win big time.

Not only have they taken an early lead in deep learning academic research (as measured by contributions to key conferences, deep mind's achievements, etc.), but they also have the data and go-to-market platforms to capitalize that lead commercially (think Search, Android, Play, Maps, YouTube...).

The question is how well will they monetize those advantages. Admittedly, there are better executors than Alphabet management, but the advantages are so many and the stock price so moderate as to provide compelling risk-reward, in our view.

In this article: , GOOG, GOOGL
An Introduction To Spain’s Number 1 REIT: Merlin Properties
7 months ago

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In this article: MRPRF
Asset Allocation For H2 2018: Stocks And Cash Equivalents
7 months ago

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AAPL Apple Inc.
AL Air Lease Corporation
ATVI Activision Blizzard Inc
BZUN Baozun Inc
FL Foot Locker Inc.
GILD Gilead Sciences Inc.
LB L Brands, Inc.
NVDA Nvidia Corporation
PANW Palo Alto Networks Inc.
PYPL PayPal Holdings, Inc.
SEDG SolarEdge Technologies, Inc.
SWIR Sierra Wireless, Inc.
TSLA Tesla Motors Inc.
TTD The Trade Desk Inc
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