A great quote from Charlie Munger...
try to be a little wiser every day... in small steps Source: Invest in Assets
Mercator map distortion visualized.
Source: Massimo @Rainmaker73
A vision of the future from 1969.
Source: @JonErlichman
On the way to his second Tour de France victory last year, Denmark's Jonas Vingegaard was facing tough questions regarding his pace before he even arrived in Paris.
How was he going so fast? How was it possible to be over seven minutes ahead of a cyclist of Tadej Pogačar's caliber? Some reporters even explicitly asked: "Are you cheating?". In 2023, Vingegaard completed the grueling 3-week, 3,401 kilometer competition at an average speed of 41.4 km/h (25.574 mph). Given cycling's deservedly bad reputation, it is perhaps understandable that exceptional performances like that still raise suspicions. As Statista's Felix Richter shows in the chart below, the Tour de France has not slowed down since the doping-infested years of the early 2000s. Whether that's due to super-fast carbon bikes, favorable routing or the use of performance-enhancing substances is a question the sport is not yet fully able to answer.
food for thought
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Hedgeye is unbeaten
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The 13 largest luxury companies by market cap.
Four fun facts: → $LVMH's market cap is more than double the size of the bottom ten companies combined. → $RMS is by far the largest single-brand company on the list, at 3.3x the size of $RACE. → Despite owning 10+ brands including iconic maisons such as Gucci, Saint Laurent, Brioni, and Bottega Veneta, $KER's revenue is "only" ~€20B, compared to Hermès' >€13B. → Tiffany & Co. was acquired by LVMH during the pandemic at a $16B valuation, which would place them at #8 on this list. Source: Quartr
Good to know...
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