The Pod Shop Playbook: Alpha Curve and Decay
Peloton (PTON) example
Pod shops are the best at the information discovery and incremental change game. You can’t beat them at that: they have superior sell-side and management access, a narrow sector focus (an analyst covering ~30-40 names), sophisticated data teams and the best infrastructure to capitalize on these resources.
The game for the typical pod shop investor has turned into gaining just enough conviction in their view to initiate a position.
To better understand this, we should explore the basics of alpha curve and decay.
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