Wednesday 21st Feb 2024
Investing in Moats: A Strategic Guide
Table of Contents Why Do We Invest in Stocks? Passive – the Incorrect Solution What Does the Solution Look Like? Moats: The Kind...
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Friday 12th Jan 2024
China Mobile – A strong growth business hidden underneath the legacy one
We have previously highlighted our inability to invest in China-based businesses, driven by our investment processes and the filters we apply. As we...
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Tuesday 28th Nov 2023
EssilorLuxottica SA – Transforming Vision
As discussed in our January 2023 letter, herd-like behaviour continues to dominate price action. Investment pricing is experiencing much more pronounced deviations from...
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Wednesday 22nd Nov 2023
Concentrations in Global Portfolios: US Equities and US Technology
An important rationale for building global equity portfolios is to reduce country-specific risks. A sensibly constructed equity portfolio will look to achieve adequate diversification across countries,...
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Tuesday 7th Nov 2023
Capital Cycle Theory
When investing in businesses with limited to no entry barriers, an important framework to pay attention to is the capital cycle theory – For...
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Monday 31st Jul 2023
How to Achieve Superior Investment Outcomes
Warren Buffett, one of the most successful investors, once shared his recipe for becoming wealthy: “I will tell you how to become rich. Close...
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Tuesday 20th Jun 2023
The Game of Investing: Lessons from English Premier League and Fantasy Premier League
“Life and investing are long ballgames.” – Julian Robertson This past week the English Premier League’s (EPL) 2022-23 season ended with Manchester City crowned...
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Friday 5th May 2023
Musings from an interview with Francois Ronchon
Recently, we came across an interview with Francois Rochon, Founder of Giverny Capital, which we found to be a worthwhile read. You can find...
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Wednesday 15th Feb 2023
Deutsche Post: Picking a Diamond from the Rubble
“Naturally the disservice done students and gullible investment professionals who have swallowed Efficient Market Hypothesis has been an extraordinary service to us. In any...
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