Independent Research, US Dominant Players, Investment Talk

Investment Talk

I am a 27-year-old who grew up in Germany & England before migrating back to my homeland of Scotland. I have worked since the age of 14, spent five years as a student of economics, and have served in various roles across the fintech and start-up landscape. I am currently a product manager and head of partnerships at Koyfin, and have been writing consistently since 2020. Investment Talk was my first newsletter, and I later started writing NTS. Investment Talk is where I write articles about the stock market, the companies within it, and human behaviour. I focus on writing about what I find interesting, in a way that will be both enjoyable and informative to the reader.

Independent Research, US Dominant Players

Solvency Risk Short Candidates: Peloton, Life Time Group, Cano Health, Cinemark

Investment Talk is for readers who wish to learn about companies that are potentially outside of their own circle of research, as well as those who are longing to become part of a community of like-minded investors and learn more about investment research. I would describe myself as a long-term investor who typically takes a 3Y to 5Y outlook, before reassessing once that period matures. I follow the adage that one should research, reach a conclusion, and then verify and continue to hold so long as the thesis remains intact. My own investing style is one that seeks to find dominant players within their respective market who have shown signs of monopoly or oligopolistic behaviour, unlikely to be disrupted, in tandem with discovering market disruptors who have a high likelihood of disrupting their respective market. Equally (and weighted accordingly) I seek to discover more nuanced, misunderstood, situations with a shorter time frame.

Equity Bottom-Up

<ul><li>As I perused the headlines yesterday, I came across a CNBC article that suggested Peloton would be hiring McKinsey to “review its cost structure and potentially eliminate some jobs”. </li><li>Whilst Foley is not likely to be sleeping with fishes anytime soon, the CNBC report suggests that 12% of Peloton’s physical store count might be on the chopping board</li><li>Whilst I still continue to believe Peloton will have success in their market over the longer term, this does not equate to attractive shareholder returns</li></ul>

As I perused the headlines yesterday, I came across a CNBC article that suggested Peloton would be hiring McKinsey to “review its cost structure and potentially eliminate some jobs”. Whilst Foley is not likely to be sleeping with fishes anytime soon, the CNBC report suggests that 12% of Peloton’s physical store count might be on the chopping boardWhilst I still continue to believe Peloton will have success in their market over the longer term, this does not equate to attractive shareholder returns

Peloton Interactive

Peloton and the Kiss(es) of Death