Nikotes
Growth and Growth Investing ➕ Swing Trading at Expanse Stocks. Ride them with conviction. All Links below 👇
linktr.ee/nikotes
- #Intuitive #ISRG Q4 2025 earnings digest with CC notes is out. The engine still hums, the road feels bumpy going into 2026. Full article in bio or link below! expansestocks.substack.com/p/intuitive-...
- My top picks for 2026 are out. This might be one of the most interesting years to "pick them out". Having a clear thesis and conviction really matters. #MercadoLibre #Amazon #ConstellationSoftware CSU (and spin-offs) Open to read. Full article below. expansestocks.substack.com/p/top-picks-...
- As we close out 2025, I find myself reflecting not just on this year’s returns, but on something more fundamental: what kind of investor I want to be. My 2025 Annual Letter is now live for my readers. Wishing you all a Merry Christmas & a Happy New Year🎄✨ expansestocks.substack.com/p/annual-let...
- Finally, Part II of the #MercadoLibre #MELI Deep Dive Brief series is out! Don’t miss it, I think it might be worth your time. I cover: its fully integrated business model, competitive moats that protect it, growth drivers ahead, along with a DCF model. expansestocks.substack.com/p/deep-dive-...
- The origin story of #MercadoLibre #MELI is out! At Expanse Stocks (and it's free to read). expansestocks.substack.com/p/deep-dive-...
- #MercadoLibre → Pressing the “Meli” Advantage Q3 2025 earnings digest with CC notes is out! expansestocks.substack.com/p/mercado-li...
- The Rareness of Moaty Industrials. New piece is out this morning along with a selection of 6 gems. expansestocks.substack.com/p/the-rarene...
- #Intuitive #ISRG Headline numbers looked great, but the real story is the da Vinci V system proving it’s not only an incremental upgrade but the catalyst for the next growth phase. Earnings breakdown and call notes are ready at Expanse Stocks expansestocks.substack.com/p/intuitive-...
- The new piece on Intuitive (ISRG) is out. The Surgical Robot that Became a Monopoly. expansestocks.substack.com/p/deep-dive-...
- A more fundamental approach: ROIC & Reinvestment Rate-Driven DCF. Practical guide + example with #ConstellationSoftware. Includes downloadable models for #CSU and its spin-offs ( #Topicus and #LumineGroup). 🔗 Link in thread or profile.
- Deep Dive Brief: How to Build a DCF for Serial Acquirers Like #ConstellationSoftware - Part #3 It includes models for both #CSU and spin-offs #Topicus and #Lumine 🔗 Full article in the thread below. expansestocks.substack.com/p/deep-dive-...
- Deep Dive Brief: How to Build a DCF for Serial Acquirers Like #ConstellationSoftware - Part #3 It includes models for both #CSU and spin-offs #Topicus and #Lumine 🔗 Full article in the thread below. expansestocks.substack.com/p/deep-dive-...
- Tough weeks with volatility hitting my top holdings. Running a concentrated portfolio means learning to stomach swings. I’ve realized once a position creeps above 15%, conviction starts slipping into self-doubt. I made some changes. Details inside. expansestocks.substack.com/p/portfolio
- One of the most frequent questions investors ask themselves these days revolves around AI and its impact on established business models. Every industry seems to be in the crosshairs, and investors are asking: who are the winners, who are the value traps? expansestocks.substack.com/p/deep-dive-...
- #Copart #CPRT Q4’25 earnings digest is out. Headline: Profitability Shines, Volume Softness. My takeaway: mgmt doubled down on what makes Copart unbeatable -> superior auction liquidity. 🔗 Full article below: expansestocks.substack.com/p/copart-q4-...
- New article is out: Unlocking Japan - Part #1: The Overlooked SaaS Goldmine Hard to pull the trigger given the cultural bridge but worth a closer look. expansestocks.substack.com/p/unlocking-...
- #Heico (HEI) Q3 2025 earnings digest is out. The star of the show remains the FSG, which posted its twentieth consecutive quarter of sequential sales growth. expansestocks.substack.com/p/heico-q3-2...
- First installment of a #ConstellationSoftware (CSU) trilogy is live. In this opening piece, I dive into CSU’s capital allocation outlook and explore whether Mark Leonard (CEO and Founder) and team can sustain their high returns into the 5-10 years. expansestocks.substack.com/p/deep-dive-...
- Updated the Portfolio Corner with new Cash-on-Cash Returns models, ready to download. It now covers 22 names, including: $CSU ecosystem Big Tech $GOOG $AMZN Healthcare & Semis Small-mid caps on the watchlist Find them in the Valuation Tools: expansestocks.substack.com/p/portfolio
- A guide to measure Cash-on-Cash returns. The piece is out with downloadable models & a practical example #Google #GOOG Link's in profile and below.
- In a previous piece on Intrinsic Value Growth, I mentioned that I'l dive deeper into #Cash-on-Cash returns, a metric that cuts through accounting noise to show actual cash productivity. Personally, I use it to double-check my valuation assumptions: expansestocks.substack.com/p/cash-on-ca...
- #CSU Constellation Software Q2 2025 earnings digest. A perfect example of why GAAP Earnings don't tell the whole story and Why the scale question remains. expansestocks.substack.com/p/constellat...
- In a previous piece on Intrinsic Value Growth, I mentioned that I'l dive deeper into #Cash-on-Cash returns, a metric that cuts through accounting noise to show actual cash productivity. Personally, I use it to double-check my valuation assumptions: expansestocks.substack.com/p/cash-on-ca...
- New post out: Ranking the Most Promising Sectors Where would you invest for the next 5–10 years? I shared my current sector view at Expanse Stocks. Check it out. expansestocks.substack.com/p/ranking-th...
- Hidden Gem Fifth Edition is Out! A primer on a spectacular, high-growth, founder-led SaaS story. Compounding like no other (60% CAGR over the last decade) yet still under-owned, under-followed, and underappreciated in global equity circles. expansestocks.substack.com/p/hidden-gem...
- Making a case to invest in equities equities over other assets (real estate, deposits, bonds, etc.) Where's the investor's edge? At Expanse Stocks.
- Why Equities Win Against Other Assets? “Time in the market beats timing the market.” Equities reward the patient. And that real wealth isn’t just measured in IRR but in the life options it unlocks years later. New piece is out. Find it in the usual place. expansestocks.substack.com/p/why-equiti...
- Why Equities Win Against Other Assets? “Time in the market beats timing the market.” Equities reward the patient. And that real wealth isn’t just measured in IRR but in the life options it unlocks years later. New piece is out. Find it in the usual place. expansestocks.substack.com/p/why-equiti...
- #ASML Q2 2025 earnings digest is out. Another report where the real story lies, once again, in the details. expansestocks.substack.com/p/asml-q2-2025
- The Optionality piece is now live. Digging into the dimensions of optionality, plus a breakdown across the portfolio (e.g. #CSU ecosystem, #ASML, and more). Read it now at Expanse Stocks. expansestocks.substack.com/p/optionalit...
- Just realized I published my 10th Deep Dive Brief on Heico recently. Time flies. Most of them are open to read. Here's the list and link's in profile: Cloudflare #NET Parsons #PSN MPS #MPWR Medpace #MEDP Arista #ANET Amazon #AMZN ASML #ASML Topicus #TOI.V Lumine #LMN.V HEICO #HEI
- Lessons from investing mistakes over the years. Since I started trading in 2017/2018, and investing a few years after, to date. At Expanse Stocks 🔗👇
- New article is out: A Reflection on my Investing Mistakes. Hard topic to write, but also an honest one. Would love to know your share of mistakes too as an investor! Maybe write yours at the end of the article's chat. Will make me feel better for sure 😅 expansestocks.substack.com/p/a-reflecti...
- New article is out: A Reflection on my Investing Mistakes. Hard topic to write, but also an honest one. Would love to know your share of mistakes too as an investor! Maybe write yours at the end of the article's chat. Will make me feel better for sure 😅 expansestocks.substack.com/p/a-reflecti...
- My latest research report on one rare breed compounder in the aerospace industry is now ready: Heico $HEI / $HEI.A Here is the content and a few hints of what's inside. At Expanse Stocks: expansestocks.substack.com/p/deep-dive-...
- First Annual Letter since launching Expanse Stocks back in October 2024. Lots of learning on the road— that’s what makes it all worthwhile 🙌
- The Semi-Annual Portfolio Letter for Expanse Stocks subscribers is live. expansestocks.substack.com/p/semi-annua...
- The Semi-Annual Portfolio Letter for Expanse Stocks subscribers is live. expansestocks.substack.com/p/semi-annua...
- Back in town after an unforgettable journey through Africa, and ready to play the game (again) expansestocks.substack.com/p/explaining...
- #Lumine Deep Dive is live! ➕ 7-Day Free Trial to Expanse Stocks starts May 23 Get access to all paywalled content: 💼 Portfolio: positions, valuation, trades, etc. 👀 Exclusive Sections from Deep Dive Briefs, Hidden Gems, General Investing articles & more expansestocks.substack.com/p/a-hidden-g...
- What #Investing Means to Me — and How I Approach It as an Individual Investor? New article at Expanse Stocks: expansestocks.substack.com/p/my-expanse...
- My latest research report on one compounder 'made by #ConstellationSoftware' is now live: #Topicus $TOI.V Link's in profile and here: expansestocks.substack.com/p/a-hidden-g...
- If you are looking for a free-to-read (most part of it) business/investing research report on #ASML. Feel free to check my Deep Dive Brief piece on the Lithography juggernaut at Expanse Stocks 👇🏼
- New free to read article released: The Serial Acquirers Playbook. Underappreciated quality traits of these businesses with real-world examples #ConstellationSoftware #Danaher or #HEICO Link's in profile and below: expansestocks.substack.com/p/the-serial...
- #Topicus #TOI research memo's coming out next week. Half will be free-to-read, the other half along with downloadable Valuation models will be for paid subscribers. Take a closer look at what we offer and who we are at #ExpanseStocks Behind-The-Scenes: expansestocks.substack.com/p/expanse-st...
- #NET #Cloudflare Q1 2025 earnings digest is out. Below, the link to the free-to-read article 👇 expansestocks.substack.com/p/cloudflare...
- #MELI #MercadoLibre Q1 2025 earnings digest is out. link to the free-to-read article: expansestocks.substack.com/p/mercado-li...
- Reinvestment Rate × Return on Capital = Growth Learn about this simple yet powerful concept, with #Alphabet #Google as our guinea pig, and a step-by-step guide along with downloadable models. At Expanse Stocks 👇
- Just released a new free-to-read article growth & its key drivers: Return on Capital & Reinvestment rates Using #GOOG #GOOGL as our guinea pig to do the calculations. Find it at Expanse Stocks (link's below) along with downloadable models for subscribers. expansestocks.substack.com/p/understand...
- #ANET #Arista Q1 2025 earnings digest is out. Below a preview and link to the free-to-read article is below or in profile at Expanse Stocks. stkt.co/z_b2baas
- Just released a new free-to-read article growth & its key drivers: Return on Capital & Reinvestment rates Using #GOOG #GOOGL as our guinea pig to do the calculations. Find it at Expanse Stocks (link's below) along with downloadable models for subscribers. expansestocks.substack.com/p/understand...
- The importance of owner-operators like #Berkshire Warren Buffett when investing. Read my memo for free at Expanse Stocks (link’s below).
- #Amazon Q1 2025 earnings digest expansestocks.substack.com/p/amazon-q1-...
- #CSU Canadian Vertical Software acquirer. Pretty unknown outside Canada despite 35% CAGR over 20 years & led by one of the best CEOs of the 21st century 🤷♂️ Published the article yesterday. Not really a deep dive, more like a primer. 👇🏼 Feel free to read at Expanse Stocks. Link's below or in profile
- Fourth Hidden Gems Edition is out. This time, it’s a primer into a Canadian legend: Constellation Software #CSU #CSU.TO built by the one & only Mark Leonard Enjoy it! This one’s free to read — link's below at Expanse Stocks. expansestocks.substack.com/p/hidden-gem...
- Fourth Hidden Gems Edition is out. This time, it’s a primer into a Canadian legend: Constellation Software #CSU #CSU.TO built by the one & only Mark Leonard Enjoy it! This one’s free to read — link's below at Expanse Stocks. expansestocks.substack.com/p/hidden-gem...
