TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

I have over 20 years’ experience investing in the TMT and Consumer sectors, almost entirely on the buyside. Started at Bernstein covering software in 2001, moved to the buyside at Government of Singapore Investment Corporation (GIC) in 2003, covering hardware, software, and media. 

After getting an MBA at NYU in 2008 and a CFA, I spent 8 years at Coburn Ventures (a market neutral TMT/Consumer hedge fund). In 2015, I joined Deimos Asset Management, a low net multi-strat, where I managed a  TMT/Consumer portfolio.

I've spent the past few years at Obex Capital Management providing independent investment research to TMT and Consumer investors.

TMT & Consumer Independent Equity Research Analyst

Palo Alto Networks: Even Better Than Crowdstrike?

Netflix 2Q22: Low Growth, Low FCF, Low (Management) Conviction

Crowdstrike FY1Q23: Share Gains Will Lead to Share Gains

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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

<ul>
<li>Palo Alto Networks produced an impressive FY4Q22 earnings, blowing out billings growth and showing an impressive display of "platformization"...only trades 8x forward revenues for 25-30% revenue and FCF growth.</li>
<li>Farfetch finally acquired Yoox Net a Porter, after over a year of speculation. Deal is excellent for FTCH, gives them a monopolistic position in lux ecommerce.</li>
<li>Netflix's Gray Man yet another example of the company's inability to create compelling big budget movies.</li>
</ul>


Palo Alto Networks produced an impressive FY4Q22 earnings, blowing out billings growth and showing an impressive display of "platformization"...only trades 8x forward revenues for 25-30% revenue and FCF growth.
Farfetch finally acquired Yoox Net a Porter, after over a year of speculation. Deal is excellent for FTCH, gives them a monopolistic position in lux ecommerce.
Netflix's Gray Man yet another example of the company's inability to create compelling big budget movies.


TMT Quick Hits: Palo Alto Networks, Farfetch, Netflix