Going Over Q1 2022 Earnings:

$LKQ $WBD $MITK $OZK $PYPL $OMAB $SPOT $GOOG $VMD $SFM $FF $IAC $CVS $OPFI $WWE $HII

With limited time that I have, I decided to do a podcast/recording with images to go along for you to follow.

Unfortunately half way through it the audio started to “break up” and it started to become crappy quality, so I decided to do release without audio (kind of sad about it) as I do not have more time to try it again. (Hope you will understand). Thank you.

If you have any questions on any of the companies, don’t hesitate to email me…

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VMD - Good quarter, moving along nicely (doing share buy backs)…

LKQ - Better then I expected (very excited on what will come but also cautious to not get too happy about it)…

IAC - Market has it wrong…

Mostly Borrowed Ideas @borrowed_ideas

1/ $IAC 1Q'22 Update "market reaction is driven by an appropriate resetting in valuation frameworks rather than an exogenous “black swan” event. And this time there’s no “shot-in-the-arm” (literally or figuratively) on the horizon to snap things back" J. Levin Here's my notes.

May 10th 2022

10 Retweets74 Likes

Mostly Borrowed Ideas @borrowed_ideas

Updated my SOTP for $IAC to figure out what the market is pricing now. Just as it required imagination to be a bull in 2021, we are getting to a point it may require some imagination to be a bear in certain stocks!

May 11th 2022

8 Retweets51 Likes

SFM - Needs more time…

SPOT - Everything looked good except for the “no improvement on gross margins” that market was “expecting” which I think is not a deal breaker given they are moving into podcast more…

Mostly Borrowed Ideas @borrowed_ideas

1/ $SPOT 1Q'22 Update Last 6 months has been a lesson about how difficult consumer internet is. These companies can create enormous consumer surplus for users, but capturing some of that value can be onerous for the company. TBD whether SPOT can capture value. Here's my notes.

April 27th 2022

21 Retweets198 Likes

PYPL - CEO admitted to messing up, I’m cautious but not not optimistic. Giving this one more time…

PayPal Earnings Preview Q1 2022

OZK - Good earnings, moving in the right direction but management is very cautious and moved into defense for now…

GOOG - I’m cautiously optimistic…

Mostly Borrowed Ideas @borrowed_ideas

1/ $GOOG 1Q’22 Update If you are *owner* of GOOG, this was mostly another impressive (yawn!) quarter. Just a little deceleration in YouTube, and boy this almost became YouTube earnings call despite contributing ~10% revenue and even less earnings. Here’s my notes.

April 27th 2022

233 Retweets1,983 Likes

CVS - Moving along nicely…

HII - Okay quarter, this is my hedge against what is going on in Ukraine/Russia…

WWE - Looking good…

WBD - Not yet HBO related, really need to wait until 2023 to see some progress…

FF - I was disappointed…

OPFI - Trusting management is all that’s left (for now)…

MITK - Earnings okay but need to watch out for their acquisition…

OMAB - Looking good, paying down debt, passenger traffic increasing and paying dividends…

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I think that’s all of it…

Lastly, I would really appreciate if you would share this newsletter with anyone who you think might benefit from this or might just enjoy reading what I’m writing about.

Sincerely,

Mr Zaye

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