High conviction ideas, research, musings and memes from the PMs of Logos LP. Not financial advice. May buy and sell securities without disclosures.
Toronto ON Canada
Joined April 2014
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Without further ado: The Logos LP X is now The Inflection Economy.
Same high-conviction framework. New focus on structural breaks.
Our first deep dive drops this weekend: “The Structural Case for Post-Acute & Managed Care”.
Subscribe below:
theinflectioneconomy.substac…
France’s far-left has revealed their program for the 2027 pres. election and it’s probably one of the most insane platforms I’ve ever seen. Pure comedy. But tells you something about where we are at in the cycle…. Yes he’s polling around 17% now. (2nd) This isn’t fringe…
🇫🇷 FLASH - LFI a dévoilé le programme de Jean-Luc Mélenchon pour la présidentielle de 2027. Parmi les propositions :
- Autoriser jusqu’à 3 jours d’arrêt maladie autodéclaré, sans consulter de médecin.
- Accorder 7 jours de congé après le décès d’un ami.
- Porter le SMIC à 1.700€ net par mois, soit une hausse de 220€.
- Ramener l’âge de départ à la retraite de 64 à 60 ans, avec une retraite à taux plein après 40 années de cotisation.
- Réduire progressivement la durée du travail à 32 heures par semaine.
- Instaurer un service écologique obligatoire de 9 mois pour les moins de 25 ans, rémunéré au SMIC.
- Faire rembourser les soins à 100% par la Sécurité sociale.
- Prendre en charge les séances de psychothérapie des moins de 26 ans.
- Fixer un plafond de 12 millions d’euros pour les héritages.
- Augmenter les APL de 10% pour aider à payer les loyers.
- Bloquer les prix de certains produits essentiels afin de limiter les hausses excessives.
- Revaloriser les salaires des fonctionnaires.
- Garantir un revenu minimum aux jeunes grâce à une allocation.
- Proposer aux étudiants des repas à 1€.
- Limiter à 1 pour 20 l’écart entre les rémunérations au sein d’une même entreprise.
- Soumettre les aides publiques aux entreprises à des engagements sociaux et écologiques.
- Rétablir l’ISF afin d’accroître l’imposition des grandes fortunes.
- Mettre en place la taxe Zucman pour taxer davantage les milliardaires.
- Répartir l’impôt sur le revenu en 14 tranches pour augmenter la contribution des plus riches.
- Engager une sortie progressive du nucléaire.
- Atteindre une production d’électricité issue à 100% des énergies renouvelables d’ici 2060.
- Interdire les vols entre 23h et 6h.
- Suspendre les zones à faibles émissions (ZFE), qui restreignent la circulation des véhicules les plus polluants dans certaines villes.
- Passer de la Ve à la VIe République en donnant davantage de pouvoir aux citoyens.
- Supprimer le 49.3, qui permet au gouvernement de faire adopter un texte sans vote.
- Intensifier la lutte contre les discriminations, notamment au sein de la police.
- Reconnaître comme crime d’État le massacre des Algériens du 17 octobre 1961.
- Renégocier les traités européens et refuser l’application de certaines règles européennes jugées incompatibles avec le programme.
- Quitter progressivement le commandement militaire intégré de l’OTAN.
- Soutenir la création d’un État palestinien aux côtés d’Israël.
Yes, we continue to have our private 'family' LP and have been doing this for a while now.
YTD +38.80% after this drawdown while positioned for torque on the upside.
Doing it for a long time, consistently, is hard but we hope we can share our knowledge and thoughts to help everyone.
Have a great weekend!
The Inflection Economy retweeted
I can’t shake the feeling that selling your high-beta tech stocks already down 40-70%, to buy low/no growth consumer names at 30-100x earnings…might not be so smart, either.
$APP +35%. Now leading the post-election rally. You can't make this stuff up. Was left for dead.
Monster Q3: $2.185B revenue (+55%), $1.44B net income (+72%), $4.30 EPS. Guidance up, margins still elite (84% adj. EBITDA), and they just loaded the buyback to $3.6B.
My blue-wave call landed. But wow did I underestimate the size of the wave...
At the end of the day when people’s main concern is inflation and affordability and you answer it with tariffs, a trade war, and a never ending war with Iran you're going to have trouble winning elections.
Past this week not sure how much of an impact this is going to have on markets as a lot of the key themes were already developing before midterms and this probably just creates follow through momentum.
Watching borrowing costs, software durability, state-level resistance to data centres and political backlash and capital continuing to rotate away from tech to everything else.
The consensus election results for Brazil just got blown out and now $EWZ is having its black Monday. Makes you wonder what the market has and hasn't priced in for the US midterms. Not big on election predictions. But think there may be some surprises worth considering...
The Inflection Economy retweeted
Yes yes very good. Whoever wins will declare a historic mandate. Whoever loses will declare democracy broken. Now push the deficit to another record…
The Inflection Economy retweeted
Basically nothing that happens in a 3-6 mo. period has anything to do w/ the actual business.
If you have duration and don’t have to worry about being fired, lean into the volatility, invest in great businesses at a reasonable price, and log the fuck off
$SHOP: 32% revenue growth nuked in the pre on slight sales miss and meh outlook. Not a bad print overall.
But think we're back to the software confidence problem. Multiples can't absorb much disappointment in this tape. Lazy baskets or blind dip-buying going to be tough here.
Inflection point for $IDXX ? Q3 beat + raised FY EPS to $14.96–$15.16 and revenue guide higher. Recurring CAG diagnostics still humming at double-digit growth. Stock ripping for a reason.
Great news for $QURE. Accepted for review and granted Priority Review. Let’s have ourselves a Monday.
We are thrilled to announce that the FDA has accepted for review the BLA for ifezuntirgene inilparvovec (AMT-130), an investigational #genetherapy for #HuntingtonsDisease. The application has been granted Priority Review with a PDUFA date of May 1, 2027. uniqure.gcs-web.com/news-rel…
There it is.
Over 60% of the S&P 500's components are now in bear market territory, down -20% or more from their record highs.
Four of the Magnificent 7 stocks are now in bear market territory, with these seven names erasing a combined -$4 trillion in market cap since their highs.
We are in a "stealth" bear market.
And, we believe it's a huge opportunity as we outlined below on October 15th.
$GNRC nice print. Starting to show the combination we wanted: data-center growth and a healthier residential business. C&I sales +28%, Residential +9%, margins improved in both. More evidence that the new growth engine can add to the core instead of just offsetting weakness.
Compelling long position that fits right in our portfolio. $GNRC moving to infrastructure compoundooor mode. Post below.
