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@optima
Can’t Touch This
The Value of Brand and Customer Experience
AI Key Takeaways
- The value of a brand lies in the experiences people have with its products.
- The brand becomes more valuable when these experiences drive higher brand recognition and revenue.
- Translating the brand into a positive experience can lead to increased customer engagement and spending.
- A quick measure of brand value can be obtained by subtracting tangible book value from the market cap of the company.
@optima
EP #162 | Navigating the World of REITs with Brad Thomas, aka mr REIT
Understanding REITs: Metrics, Requirements, and Payout Ratios
AI Key Takeaways
- REITs use funds from operations (FFO) instead of earnings per share as their metric
- FFO is calculated by adding net income, rental income, depreciation, and subtracting gains
- Adjusted funds from operations (AFFO) subtracts straight line rents and recurring capex, and adds back compensation, lease, and tangibles
- Payout ratios are based on FFO and taxable income
- REITs must pay at least 90% of their taxable income and have 75% of their portfolio in real estate
- REITs can lease properties instead of owning them
@optima
EP #162 | Navigating the World of REITs with Brad Thomas, aka mr REIT
Real Estate Investment Trusts in the Casino Sector: Stable Performance and Trophy Properties
AI Key Takeaways
- The casino sector, including Real-to-Income, has shown resilience during the pandemic and recessions, with 100% rent collection.
- Real-to-Income's CEO and management team have a strong understanding of the industry, as they frequently interview other CEOs for their insight.
- Real-to-Income excels at screening acquisitions for their trophy properties and maintaining high coverage ratios.
- Major casino properties like MGM in Las Vegas have proven to be highly resilient and successful, even during challenging times like pandemics and recessions.
- The Las Vegas market is experiencing significant growth.
@optima
WCI #325: What is the 4% Rule?
The 4% Rule for Retirement Withdrawal
AI Key Takeaways
- The 4% rule comes from a study done at Trinity University in the 90s.
- Financial advisors used to recommend taking out 8% annually, but that can lead to running out of money due to sequence of returns risk.
- The study found that taking out about 4% a year, adjusted for inflation, is very likely to make your portfolio last at least 30 years.
- Reverse engineering the equation shows that you need about 25 times your annual expenses to be financially independent.
- Many people use an adjust-as-you-go strategy instead of strictly following the 4% rule for retirement withdrawals.
@optima
Hand-Wavy Finance
The increase in AI mentions during earnings calls
AI Key Takeaways
- The frequency of mentions of AI in earnings calls has significantly increased in recent years.
- ESG mentions have decreased in earnings calls.
- The repetitive nature of discussions about AI in finance indicates a lack of unique perspectives.
- The speaker expresses surprise at the relatively low number of AI mentions.
@optima
A.I. Beach + Vibes-Based R.T.O. + the ‘Black Mirror’ Quamputer
The Realistic Timeline for AI's Impact on Advertising
AI Key Takeaways
- The speaker is reconsidering their views on the speed of AI transformation in advertising and other industries.
- Technology takes time to diffuse throughout an industry, requiring workflow adjustments and new processes.
- The tools like chat GPT and Dolly have been in the world for several months but have not disrupted the advertising business yet.
- The initial impressiveness of generative AI tools fades with more usage.
- Generative AI tools may seem less impressive as they primarily rearrange words from existing content.
- The dream of fully automated ad creation is still far from reality.
- Understanding the current limitations of AI can help adjust timelines of job automation.
@optima
Microsoft's Big Investment In AI Is Paying Off
Bill Gates and ChatGPT: From Skepticism to Belief
AI Key Takeaways
- The OpenAI language model, GPT-4, was able to pass the AP Bioexam, including the essay portion.
- Gates and other Microsoft executives were impressed by the language model's ability to answer various questions.
- Gates was particularly impressed by the language model's empathetic response and considers it as the turning point for him.
@optima
424- AI for Investing with Nuno Neves Cordeiro
Using Open Source Language Models for Customized Answers and Monetization
AI Key Takeaways
- Large language models like LLMs can be fine-tuned and calibrated to align with a specific corpus of text.
- This customization enables more tailored answers within a particular domain.
- Open source models allow businesses to utilize this fine-tuning strategy.
- Monetizing these models through fine-tuning can be a successful approach.
- Renaissance is an example of a highly successful investing group that has employed this method.
@optima
Inflation Is Way Down. Is It by Design or Just Luck?
Why declining grocery prices are not a reliable indicator of policy or economic performance
AI Key Takeaways
- Egg prices spiked earlier this year due to avian flu that killed millions of chickens
- More recently, egg prices have gone down due to the clearing up of the avian flu
- Food prices are not a good measure of where the economy is headed or how policy is working
- Food prices are sensitive to big movements in commodity prices, not policy
- Food prices are a measure of agrarian luck, not policy
@optima
Inflation Is Way Down. Is It by Design or Just Luck?
External forces that impact the price of gas
AI Key Takeaways
- Changes in oil and gas prices are mostly caused by big global trends and external factors, such as decisions made by Russia, Saudi Arabia, and the speed of growth in other big economies like China.
- While some domestic policies can have an impact around the edges, the decline in gas prices is pretty much unrelated to federal policy.
- Luck plays a big role in the fluctuations of gas prices.
- The speaker emphasizes that federal policy is not the primary factor in the decline in gas prices.
@optima
SeatGeek - Disrupting ticketing by putting the fans first - Sports Geek Amplify
How data and native technology can improve the fan experience
AI Key Takeaways
- Providing tools and comfort can make the fan experience better
- Online parking passes reduce wait times and improve efficiency
- Automated messages can direct fans to their seats and ease anxiety over ingress
- Native technology with a rules engine can create a better fan experience
@optima
Yet Another AI Blind Spot: Biased Images
The Importance of Open Source Models for Addressing Bias in AI
AI Key Takeaways
- Greater freedom to tweak AI models according to specific needs
- Importance of open source models in addressing bias and transparency
- Open source models enable auditability and transparency in improvements and output representation
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