Bancroft Sutherland
@bancsutherland.bsky.social
Portfolio manager
Now Netflix subscribers will get a free television *and* a role as a background extra in the HBO prestige drama of their choosing.
Saw a 65 inch tv at Target for $250
Feels like Netflix is just gonna give us all free tvs someday w/a membership
Feels like Netflix is just gonna give us all free tvs someday w/a membership
December 5, 2025 at 3:05 PM
Now Netflix subscribers will get a free television *and* a role as a background extra in the HBO prestige drama of their choosing.
Hey, finally happened upon something that would justify a diagnosis of “derangement”.
December 4, 2025 at 5:38 PM
Hey, finally happened upon something that would justify a diagnosis of “derangement”.
This piece contains a point about AMZN I see variations of repeated frequently. In this instance it’s from the bear perspective, but just as often, it’s the same rationale but for the bull case. Neither make any sense…
Are We in a Stock Bubble? This Is the Only Thread You Need
High valuations are supporting equity markets and the economy. Everyone has a view on whether it’s sustainable.
www.bloomberg.com
December 4, 2025 at 3:41 PM
This piece contains a point about AMZN I see variations of repeated frequently. In this instance it’s from the bear perspective, but just as often, it’s the same rationale but for the bull case. Neither make any sense…
Does it help or hurt one’s resume for the Capital Allocator Hall of Fame if you announce a decision to incinerate slightly less money on a project you have long championed, and the market reaction is to increase the value of your company by $65 billion?
December 4, 2025 at 3:22 PM
Does it help or hurt one’s resume for the Capital Allocator Hall of Fame if you announce a decision to incinerate slightly less money on a project you have long championed, and the market reaction is to increase the value of your company by $65 billion?
Still getting accustomed to a world in which a single headline that moves a stock by just 2% equals a $75 billion hit to a company’s market value.
Microsoft stock sinks on report AI product sales are missing growth goals
Microsoft stock sank after a report that multiple sales teams for the company's Azure Foundry product missed growth goals in the last fiscal year.
www.cnbc.com
December 3, 2025 at 4:55 PM
Still getting accustomed to a world in which a single headline that moves a stock by just 2% equals a $75 billion hit to a company’s market value.
Combine those two and you get an interesting attribution for the recent shift in sentiment towards Google/Broadcom via multiple expansion.
December 2, 2025 at 2:59 PM
Combine those two and you get an interesting attribution for the recent shift in sentiment towards Google/Broadcom via multiple expansion.
Contrast those multiple changes with the change in forward EPS estimates over the same period:
AVGO: 35%
GOOGL: 21%
NVDA: 49%
MSFT: 19%
AVGO: 35%
GOOGL: 21%
NVDA: 49%
MSFT: 19%
December 2, 2025 at 2:27 PM
Contrast those multiple changes with the change in forward EPS estimates over the same period:
AVGO: 35%
GOOGL: 21%
NVDA: 49%
MSFT: 19%
AVGO: 35%
GOOGL: 21%
NVDA: 49%
MSFT: 19%
Multiple expansion since the early April low:
AVGO: 83%
GOOGL: 80%
NVDA: 25%
MSFT: 16%
AVGO: 83%
GOOGL: 80%
NVDA: 25%
MSFT: 16%
December 2, 2025 at 12:55 PM
Multiple expansion since the early April low:
AVGO: 83%
GOOGL: 80%
NVDA: 25%
MSFT: 16%
AVGO: 83%
GOOGL: 80%
NVDA: 25%
MSFT: 16%
Trailing 12 month total returns:
Russell 1000 Value: +6.8%
Russell 2000 Value: +2.5%
12-month Treasury Bill: +4.3%
Bitcoin: -12.5%
Russell 1000 Value: +6.8%
Russell 2000 Value: +2.5%
12-month Treasury Bill: +4.3%
Bitcoin: -12.5%
December 1, 2025 at 3:55 PM
Trailing 12 month total returns:
Russell 1000 Value: +6.8%
Russell 2000 Value: +2.5%
12-month Treasury Bill: +4.3%
Bitcoin: -12.5%
Russell 1000 Value: +6.8%
Russell 2000 Value: +2.5%
12-month Treasury Bill: +4.3%
Bitcoin: -12.5%
Could never have imagined a scenario in which I’d have “Ole Miss National Championship” on my wish list, but guessing that’s a common phenomenon among CFB fans today.
November 30, 2025 at 8:54 PM
Could never have imagined a scenario in which I’d have “Ole Miss National Championship” on my wish list, but guessing that’s a common phenomenon among CFB fans today.
Happy Thanksgiving.
November 27, 2025 at 8:36 PM
Happy Thanksgiving.
We have reached the point of Thanksgiving Day where the middle aged finance guy with rudimentary tech skills becomes the absolute IT wizard hero for the in-laws.
November 27, 2025 at 5:19 PM
We have reached the point of Thanksgiving Day where the middle aged finance guy with rudimentary tech skills becomes the absolute IT wizard hero for the in-laws.
In the prepared remarks 4 weeks ago: “In the Committee’s discussions at this meeting, there were strongly differing views about how to proceed in December.”
And now a chief subject of that statement simply attributes that incongruity to a rhetorical point? That could somehow affect others’ votes?
And now a chief subject of that statement simply attributes that incongruity to a rhetorical point? That could somehow affect others’ votes?
November 26, 2025 at 1:06 PM
In the prepared remarks 4 weeks ago: “In the Committee’s discussions at this meeting, there were strongly differing views about how to proceed in December.”
And now a chief subject of that statement simply attributes that incongruity to a rhetorical point? That could somehow affect others’ votes?
And now a chief subject of that statement simply attributes that incongruity to a rhetorical point? That could somehow affect others’ votes?
News of potential viable competition while wearing a “We are not Enron” tee shirt is a powerful combo, apparently.
November 25, 2025 at 3:17 PM
News of potential viable competition while wearing a “We are not Enron” tee shirt is a powerful combo, apparently.
Exclusive: DOGE 'doesn't exist' with eight months left on its charter reut.rs/4abeTdx
Exclusive: DOGE 'doesn't exist' with eight months left on its charter
The Department of Government Efficiency claimed to have slashed tens of billions of dollars in expenditures, but it was impossible for outside financial experts to verify that because the unit did not provide detailed public accounting of its work.
reut.rs
November 23, 2025 at 1:22 PM
Incredible thread that starts with “someone is wrong on the internet”, and essentially ends with “I award you no points, and may God have mercy on your soul.”
November 23, 2025 at 12:18 PM
Incredible thread that starts with “someone is wrong on the internet”, and essentially ends with “I award you no points, and may God have mercy on your soul.”
🎶 No woman, no cry
No woman, no cry
Good friends we have
Good friends we've lost
Along the way
In this great future
You can't forget your past
So dry your tears, I say
No woman, no cry 🎶
No woman, no cry
Good friends we have
Good friends we've lost
Along the way
In this great future
You can't forget your past
So dry your tears, I say
No woman, no cry 🎶
November 23, 2025 at 2:07 AM
🎶 No woman, no cry
No woman, no cry
Good friends we have
Good friends we've lost
Along the way
In this great future
You can't forget your past
So dry your tears, I say
No woman, no cry 🎶
No woman, no cry
Good friends we have
Good friends we've lost
Along the way
In this great future
You can't forget your past
So dry your tears, I say
No woman, no cry 🎶
Reposted by Bancroft Sutherland
Imagine the arc of Stand By Me, only if skipping the coming of age journey entirely and jumping from the boys first hearing about the body directly to their sadness and loss of innocence upon actually seeing the body.
Having gone through the process of
1- log in
2- open this app
3- seeing people commenting about how awful that thing was
4- finding the thing
5- trauma
Now I see peeps about to go through the same
1- log in
2- open this app
3- seeing people commenting about how awful that thing was
4- finding the thing
5- trauma
Now I see peeps about to go through the same
November 22, 2025 at 12:52 PM
Imagine the arc of Stand By Me, only if skipping the coming of age journey entirely and jumping from the boys first hearing about the body directly to their sadness and loss of innocence upon actually seeing the body.
Trailing 18-month returns:
S&P 500 Utilities Sector: +27.5%
BTC: +21.9%
S&P 500 Utilities Sector: +27.5%
BTC: +21.9%
November 21, 2025 at 9:23 PM
Trailing 18-month returns:
S&P 500 Utilities Sector: +27.5%
BTC: +21.9%
S&P 500 Utilities Sector: +27.5%
BTC: +21.9%
Small cap S&P 600 is currently up 3.75%, with 589 of the stocks advancing.
That’s a move.
November 21, 2025 at 7:40 PM
Small cap S&P 600 is currently up 3.75%, with 589 of the stocks advancing.
Makes for a nice explainer on the potential impact of market concentration:
The turkey makes up 39% of the cost of this meal.
The top 10 stocks make up 41.6% of the S&P 500 market cap.
The turkey makes up 39% of the cost of this meal.
The top 10 stocks make up 41.6% of the S&P 500 market cap.
November 21, 2025 at 4:40 PM
Makes for a nice explainer on the potential impact of market concentration:
The turkey makes up 39% of the cost of this meal.
The top 10 stocks make up 41.6% of the S&P 500 market cap.
The turkey makes up 39% of the cost of this meal.
The top 10 stocks make up 41.6% of the S&P 500 market cap.
That’s a move.
November 21, 2025 at 1:10 PM
That’s a move.
At least there is no risk of a dividend cut.
November 21, 2025 at 12:02 PM
At least there is no risk of a dividend cut.
Peak to trough move today in NVDA market cap was about $390 billion.
Only 19 other companies even have an entire market value greater than $390 billion.
Only 19 other companies even have an entire market value greater than $390 billion.
November 20, 2025 at 9:05 PM
Peak to trough move today in NVDA market cap was about $390 billion.
Only 19 other companies even have an entire market value greater than $390 billion.
Only 19 other companies even have an entire market value greater than $390 billion.