Investment Thoughts and Perspectives

Insights

Medtronic : A Med-Tech platform

Medtronic is a medical technology (MedTech) company with a device portfolio that includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular...

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Intuit : Where we draw the line

As we have highlighted in our previous articles, we look to own high-quality businesses with good solid moats in our core equity strategies. The...

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Expeditors – A High Performance Culture

“We’re not in the shipping business; we’re in the information business.” – Peter Rose, founder “Expeditors has long believed that it is a competitive...

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Asset Price Bubbles Everywhere

Summary: Central bank policies that have increasingly shifted towards keeping equities bid up, have resulted in asset price bubbles across all major asset classes...

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Why we prefer Lindt over most other consumer companies

Globally, chocolate is a large, mature industry with several mainstream chocolate manufacturers. In the previous year, over 8 million tonnes of chocolates were consumed...

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The True Nature of Equities: Are Stocks A Good Inflation Hedge?

Summary: What is the true nature of equities? Equities, at their core, are like a perpetual fixed-income security. The coupon of the security being the...

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Problems in Constructing Sensible Portfolios: Low Interest Rates and Belief in Omnipotence of Central Bankers

Summary: In the current environment, there are three issues that affect the ability of investors in constructing robust portfolios: Extreme valuations, A continued belief...

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Problems in Portfolio Construction : Bubbles in Stocks, Bonds and Cash

Summary: The primary investment task is to preserve and grow client’s wealth at inflation-adjusted rates. Needs to be done without taking undue risk of...

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Fastenal – Building a high growth moat in a mundane business

“Being careful about your expenditures, whether large or small, requires a total commitment. Either you do a good job of cost control in all...

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