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Evolution AB's Q3 2025: When Short-Term Problems Become Structural

How Q3 (and Q2) results force a rethink of my investment thesis, and what must change for Evolution to re-earn a growth multiple
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Evolution AB's Q3 2025: When Short-Term Problems Become Structural
How Q3 (and Q2) results force a rethink of my investment thesis, and what must change for Evolution to re-earn a growth multiple
 • 
Bernardo
Uber Technologies Inc. (UBER) Q3 2025 Results: The Global Royalty on Movement Shows Its Earnings Power
Why I see Uber as an asset-light, cash-generating "royalty business" on real-world demand, and why today’s price still embeds skepticism
 • 
Bernardo
Alphabet Inc. (Google) Q3 2025 Results: A Full-Stack Flywheel Meets Relentless Execution
Alphabet’s quarter, the CapEx super-cycle, and a still-mispriced leader
 • 
Bernardo
Brookfield's Investor Day 2025: A Blueprint for Compounding Decades Ahead
AI infrastructure, investment-led insurance, a recovery in real estate, and a conservative balance sheet powering the next growth leg
 • 
Bernardo
Undervalued by Design: Amazon, Alphabet & the Economics of Aggregation
Pre-internet rules can't price post-internet platforms
 • 
Bernardo
Amazon's Q2 2025 Results: Still Early at $123B AWS Run Rate
Re-acceleration across Retail and Ads, AWS demand locked in, and CapEx as a feature, not a bug
 • 
Bernardo
Level-Headed Investing
Level-Headed Investing
I share my personal journey through the ups and downs of investing: my decisions, mistakes, and lessons learned. With a focus on long-term, disciplined investing, the goal is to provide thoughtful insights and real-world experience.
Top posts
Undervalued by Design: Amazon, Alphabet & the Economics of Aggregation
Pre-internet rules can't price post-internet platforms
 • 
Bernardo
Parallel Plays: Where My Portfolio and Bill Ackman's Pershing Square Converge and Diverge
Why I built stakes in Alphabet, Amazon, Brookfield, and Uber; sometimes ahead of Ackman, and where our paths split
 • 
Bernardo
Amazon's Q2 2025 Results: Still Early at $123B AWS Run Rate
Re-acceleration across Retail and Ads, AWS demand locked in, and CapEx as a feature, not a bug
 • 
Bernardo
High Conviction, High Returns: Inside Bill Ackman's Pershing Square Holdings Portfolio
Two decades of lessons from Bill Ackman's focused, conviction-driven investment strategy
 • 
Bernardo
Evolution AB's Q1 2025: Navigating Challenges for Sustainable Growth
A review of Evolution AB's Q1 2025 slowdown and why it may be temporary
 • 
Bernardo
Tariffs and the Trade War Sell-off: A Case of Conviction and Disciplined Investing
Echoes of 2008, 2020, and every panic before; history doesn't repeat, but it rhymes
 • 
Bernardo
Laying the Tracks of the Digital Economy: The AI & Cloud Infrastructure Boom
A historical parallel between the industrial railroad boom and the AI & cloud infrastructure expansion shaping the next digital century
 • 
Bernardo
Living Richer, Wiser, and Happier: Key Lessons from Legendary Investors
How the world's greatest investors win in markets and life
 • 
Bernardo
Brookfield Corporation's Q4 2024 Results and 5-Year Outlook: A Record Year For a Steady Compounder
A global investment powerhouse with strong insider alignment and its growth trajectory
 • 
Bernardo
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