TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Equity Bottom-Up

Meta Platforms (Facebook) / Equity Bottom-Up

<ul>
<li>5 Issues: Tough Comps, Supply Chain Disruptions, Reels MixShift, Apple IDFA, and TikTok...thats alot of issues</li>
<li>TikTok is pressuring engagement and Google is taking Facebook's advertising revenues.</li>
<li>Strong management team with history of executing at a trough valuation provides a good entry point. But may make more sense to just buy Google.</li>
</ul>


5 Issues: Tough Comps, Supply Chain Disruptions, Reels MixShift, Apple IDFA, and TikTok...thats alot of issues
TikTok is pressuring engagement and Google is taking Facebook's advertising revenues.
Strong management team with history of executing at a trough valuation provides a good entry point. But may make more sense to just buy Google.


Facebook 4Q21: Trending on TikTok ‘How to Lose $200B in Market Cap’

<ul>
<li>Roblox is early days in so many new TAMs: advertising, music, commerce, education.</li>
<li>The advertising opportunity is enormous, given the amount of hours spent on the platform, one can easily see Roblox building a $2B+ ad business.</li>
<li>Roblox is still early in building out the infrastructure to support many new forms of monetization, and they are doing so in a thoughtful fashion.</li>
</ul>


Roblox is early days in so many new TAMs: advertising, music, commerce, education.
The advertising opportunity is enormous, given the amount of hours spent on the platform, one can easily see Roblox building a $2B+ ad business.
Roblox is still early in building out the infrastructure to support many new forms of monetization, and they are doing so in a thoughtful fashion.


<p>Just a monster quarter. The type Facebook used to print in 2015. We've been pushing Snap as a core long since the beginning of the pandemic. We continue to push Snap as a core long...and are probably even more bullish today then we were a year ago. Facebook's market cap is 10x Snap's. We would bet that gap closes rapidly.</p><div class="content-highlight"><p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</p></div>

Just a monster quarter. The type Facebook used to print in 2015. We've been pushing Snap as a core long since the beginning of the pandemic. We continue to push Snap as a core long...and are probably even more bullish today then we were a year ago. Facebook's market cap is 10x Snap's. We would bet that gap closes rapidly.Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

CEO, Rock and Turner

James Emanuel

Rock and Turner

investment advisory company Rock and Turner.

Investment Advisory Company

<ul>
<li>Visa and Mastercard, undoubtedly both great companies but are they good investments right now?</li>
<li>I analyse both Visa and Mastercard in detail and compare their businesses, their threats and opportunities, and of course their relative valuations.</li>
<li>In the course of this analysis, I identified one stock that looks like a far better bet than either Visa or Mastercard if you are seeking alpha for your portfolio.</li>
<li>In fact, Mastercard itself has just invested $100m in this other company due to its growth potential. You can too!</li>
<li>By the end of this article, you will fully understand all three of these businesses and be well positioned to make an informed investment decision for yourself.</li>
</ul>


Visa and Mastercard, undoubtedly both great companies but are they good investments right now?
I analyse both Visa and Mastercard in detail and compare their businesses, their threats and opportunities, and of course their relative valuations.
In the course of this analysis, I identified one stock that looks like a far better bet than either Visa or Mastercard if you are seeking alpha for your portfolio.
In fact, Mastercard itself has just invested $100m in this other company due to its growth potential. You can too!
By the end of this article, you will fully understand all three of these businesses and be well positioned to make an informed investment decision for yourself.


Airtel Africa Is The Solution For Investors Worried About Visa And Mastercard Valuations

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bhp-group-ltd-3d29a5a1-abbf-485d-86d8-c7106582b240" target="_blank" data-smartkarma-citation="entities:5424:1" rel="noopener">BHP Group Ltd (BHP US)</a> Faces Setback in Copper Ambitions After Failed Anglo-American Takeover Attempt</li>
<li>China Considers Record Fine and Suspension for PwC Over <a href="https://www.smartkarma.com/entities/china-evergrande-group" target="_blank" data-smartkarma-citation="entities:479:1" rel="noopener">Evergrande (3333 HK)</a> Audits</li>
<li>Elon Musk Agrees to Testify in SEC Probe of <a href="https://www.smartkarma.com/entities/twitter-inc" target="_blank" data-smartkarma-citation="entities:667:1" rel="noopener">Twitter Inc (TWTR US)</a> Acquisition</li>
</ul>



BHP Group Ltd (BHP US) Faces Setback in Copper Ambitions After Failed Anglo-American Takeover Attempt
China Considers Record Fine and Suspension for PwC Over Evergrande (3333 HK) Audits
Elon Musk Agrees to Testify in SEC Probe of Twitter Inc (TWTR US) Acquisition


#8 Business Buzz: BHP's Setback, China Fine on PwC, Tesla's FSD in China, Slower US GDP, Twitter

United States

Twitter, Inc. provides online social networking and microblogging service. The Company offers users the ability to follow other users activity, read, and post tweets. Twitter serves customers worldwide.

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Twitter Inc (TWTR US)

Roblox Analyst Day: TAM Unlimited

We wrote about Roblox after its most recent earnings in early November and our general take was… great quarter, but was it really worth a 30%...

Aaron Gabin

Snap: Forget Twitter, Look Out Facebook

We continue to push Snap as a core long...and are probably even more bullish today then we were a year ago. Facebook's market cap is 10x Snap's. We...

Aaron Gabin

Airtel Africa Is The Solution For Investors Worried About Visa And Mastercard Valuations

Visa and Mastercard, undoubtedly both great companies but are they good investments right now? I analyse both Visa and Mastercard in detail.

James Emanuel

#8 Business Buzz: BHP's Setback, China Fine on PwC, Tesla's FSD in China, Slower US GDP, Twitter

BHP Group Ltd faces setback in copper ambitions after failed takeover attempt; China considers record fine for PwC over Evergrande audits; Elon...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Facebook 4Q21: Trending on TikTok ‘How to Lose $200B in Market Cap’

TikTok's threat doesn’t impact the wave of monetization opportunities related to commerce, messaging, and the metaverse. FB trading at the same...

Aaron Gabin

Roblox Analyst Day: TAM Unlimited

We wrote about Roblox after its most recent earnings in early November and our general take was… great quarter, but was it really worth a 30%...

Aaron Gabin

Snap: Forget Twitter, Look Out Facebook

We continue to push Snap as a core long...and are probably even more bullish today then we were a year ago. Facebook's market cap is 10x Snap's. We...

Aaron Gabin

Airtel Africa Is The Solution For Investors Worried About Visa And Mastercard Valuations

Visa and Mastercard, undoubtedly both great companies but are they good investments right now? I analyse both Visa and Mastercard in detail.

James Emanuel

#8 Business Buzz: BHP's Setback, China Fine on PwC, Tesla's FSD in China, Slower US GDP, Twitter

​BHP Group Ltd faces setback in copper ambitions after failed takeover attempt; China considers record fine for PwC over Evergrande audits; Elon...

Nimish Maheshwari

BHP Group Ltd faces setback in copper ambitions after failed takeover attempt; China considers record fine for PwC over Evergrande audits; Elon...