Incremental Insights #52
A weekly collection of investing and business related content from around the web
Waymo+Uber Market Dynamics as Tesla Tests the Robotaxi Waters
The potential disruption from Tesla hinges on their ability to leverage vertical integration for meaningfully lower fares at scale. But consumer concerns about Tesla FSD are substantial, with 48% believing it should be illegal and only 10% willing to let their personal vehicle serve as a robotaxi.
Three Quality Companies to Buy Today
Each company is transitioning into a phase of margin expansion and disciplined capital allocation, with stock prices that don't fully reflect their long-term cash flow potential.
Investment Evolution or Flexible Tactics?
Why Buffett's investing approach isn't evolution but strategic flexibility. He's never abandoned bargains for quality, he just follows value where it leads.
Today's opportunity? Not 30-50x P/E "compounders" but cash-gushing businesses with aggressive buybacks trading at 15% FCF yields.
Warren Buffett vs American Capitalism
I never saw the article they reference about Buffett realizing at age 90 that he was having trouble remembering names and losing his balance more frequently. This might explain why he raised so much cash. Perhaps he recognized he couldn't trust his reasoning as much, so he established a higher hurdle rate for his actions while simultaneously creating a clean slate for his successor to make deals.