We flip the script. Daniel pitches Akram on a new idea - f5 Networks - and Akram plays the role of portfolio manager, hearing out and testing the thesis. While Daniel might hope you like the idea itself, this episode should be a little more educational, as we break down what makes it a good or not-so good pitch, what's missing, and what could go into the thesis next. It also highlights a lot of the challenges in both growth and value investing.

We do get into other ideas, including Dropbox, and into the state of the market and whether the Alteryx report is a warning sign.

• 3:30 minute mark - What brought us to f5?

Reading materials:

Full pitch on Seeking Alpha: https://seekingalpha.com/article/4369321

What Makes Stocks Go Up: https://dubra.substack.com/p/the-anatomy-of-stocks-that-go-up

Life Magazine - "New Kid On The Street" (scroll to 62a):  https://books.google.es/books?id=bU8EAAAAMBAJ&printsec=frontcover&hl=es&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false

Dropbox: The First Dead Decacorn - https://alexdanco.com/2015/08/24/dropbox-the-first-dead-decacorn/