Happy Friday and welcome to our new subscribers! It was a busy week at Cents Invest as we fine tuned our portal and started our new content schedule (see below).

REMINDER: The team will be taking next week off from public content but our normal stream schedule will resume in January. Cents Invest Club members look out for a special edition exclusive stream next week. Stay safe this weekend and happy holidays to those celebrating! 🎄

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Headlines

• U.S. Treasury Yields Rise After BOJ Move

• FedEx plans more cost cuts as soft demand hurts profits

• U.S. Home Sales Post Record 10th Straight Month of Declines

• Senate Passes $1.65 Trillion Omnibus Bill After Deal on Title 42 Votes

• Consumer Spending Slowed as Inflation Eased in November

On Twitter

ENPH:

ENPH has a strong, differentiated and best-in-class product ecosystem and intentionally target long-tail installers which is a great strategy. Growth in Europe is very significant as well and will be a big focus for them with all the troubles with energy supply lately. Financials are great as well and they are able to combine high growth with strong cash and net profit generation. Shares are somewhat expensive and high beta so I have recently sold half of my position around 320 but plan on holding long term and adding shares back hopefully back in the 200s. Read more here.

AMZN:

I will not discuss AWS or advertising, but explain the strategy of AMZN in building their network. First lets look at Capital Expenditures the line item on the statement of cashflows that indicates to us the investment a business is making in itself like its infrastructure. Amazon is kind enough to break this down for us. (Refer to image 1) this is taken from an older 10k when we can see capex really ramp up. Before then AMZN was producing a tremendous amount of FCF not building out this self fulfillment network and instead relying on UPS and FDX. This is not ideal for amazon after you understand the longer strategy of building out a walled garden of sorts for consumers. Remember this phrase which I always say, whomever controls the customer/consumer has all the power. So context needed is AMZN is building out a FDX or a UPS inside of itself. Refer to (image 2) for further confirmation on this investment. Read more here.

Interesting Posts

• Brookfield Asset Management Spin

• Lowest December CPM in Several Years

• PARA

• Husqvarna

• KKR/BX

• Jeremy Siegel on 2023 Market Prediction

• Forward Looking Perspective on U.S. Chemical Industry

• L3Harris + Aerojet Rocketdyne

• TSLA

Streams/Videos

BLDR, OIL, CRM, & Airports [THERAPY]*

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