Dear members,

We just concluded a spectacular online edition of Latticework. It was wonderful to see so many members engage with the hosts and speakers.

The following replays are now available for your enjoyment:

• Chris Goulakos and Howard Marks on Value in Digital Age

• Scott Miller and Savneet Singh on PAR Technology (PAR)

• Bryan Lawrence on the Two Challenges of a Fund Manager

• Saurabh Madaan and Michael Mauboussin on Expectations

• Elliot Turner and Nick Devlin on Naked Wines (WINE)

• Peter Mantas on Innovation and Societal Tailwinds

• Ram Parameswaran and Dan Lewis on Trucking & Logistics

• Glenn Surowiec on Investing on Right Side of Change

Transcripts will become available in the near future.

This member newsletter will be back on January 8th.

I wish you a joyous holiday season and all the very best in the new year.

Warmly,

John

Quote We Are Contemplating This Week

11 Articles We Are Reading This Week

1. Raising rates - Roger Lowenstein

2. False certainty - Macro Ops

3. Fake revolution - Ravi Nagarajan

4. Casper autopsy - Kevin LaBuz

5. Barr's approach - Daniel Calabretta

6. Great bifurcation - Ben Thompson

7. Wrath of the gods - Ted Sheinman

8. Building cathedrals - Rohit Krishnan

9. Bezos of drug trade - Stephen Marche

10. Geopolitics of energy - Will Thomson

11. Normal awesome altruism - Alexander Berger

Letters, Presentations, Writeups...

Industry Insights: banks | de-carbonization | digital economy | ride-hailing | SPACs

Letters & Commentaries: AQR | Gardner Russo | GMO | Greenhaven Road | LVS Advisory | Moody's | RBL Investments | Richard Bernstein | Santander

Company Writeups: Ally Financial | CVR Partners | FTAI | Golar LNG | KE (short) | Liberty | Meta Materials (short) | MSG Entertainment | Stone Co | TFF | Twitter

Company Slides: Accenture | Akumin | CSL | CTO Realty | FedEx | Steelcase

Chart of the Week: Small-Caps at Discount

5 Podcasts We Are Listening to This Week

1. TWIII - Elliot, Phil, John on timely and timeless investing topics

2. The Skift - Brian Chesky on the new age of labor mobility

3. Business Brew - Jillian Jaccard Murrish on alternative credit

4. Compounders - Peter Holt on creating a niche global franchise

5. Business Breakdowns - Jay Kapoor on the business of the NFL

5 Videos We Are Watching This Week