Short Idea Whiteboard

Initial, "top-of-funnel" short ideas we're considering for further research.

• List of ~20-30 potential ideas various sectors and set-ups
• 3-5 thesis points per idea, with actionable steps for further due diligence.
  

Recent example:
ULTA Beauty (ULTA) - Consumer - Competition (4.4.24)

• Competing dist. in beauty (Sephora/Kohl's, etc.) expanding across retail channels
• Consensus expects SSS growth of MSD%, any market share losses could drive misses
• Risks = valuation and expectations have come down; solid business, is loyalty monetization bull thesis still valid?
• Reconsider > $500