Incremental Insights #81
The best of what I read, listened to, and acted during the week
The Future of Oil 2050
Morningstar expects oil demand to continue to grow for at least the next 5 years even with the rise of EVs and the electrification of freight trucks.
Digital Advertising’s “Bitter Lesson” Moment
AI-generated ads from scratch beat human experts by 19% in real Google campaigns. And AI edits of existing human designed ads failed.
When 40x P/E is a Bargain
High P/E ratios don’t guarantee overvaluation. Quality companies that consistently beat growth expectations and maintain competitive advantages can justify premium multiples and deliver exceptional long-term returns, sometimes outperforming “cheaper” alternatives by wide margins.
GE Aerospace: Full Throttle
Business Breakdowns does a deep dive into one of my favorite positions right now, GE Aerospace.