When you factor in R&D, innovator stocks like Amazon and Meta are still on sale
Discover how high R&D spending can make innovative companies like Meta and Amazon appear more expensive than they are. Learn about the ‘Raise & Distort’ effect and why these stocks might still be on sale.
Update from the PMs – August 2024
Pundits have offered lots of possible reasons for the recent stock price declines. From new recession fears in the US, to heightened geopolitical risks in the Middle East, to fears that AI has been overhyped and will fail to deliver on elevated expectations.
The dangers of simple ‘rule of thumb’ PE valuations in today’s market
Ever wondered if a stock trading at 25x is overvalued? Think again! We dive deep into ‘first principles’ thinking to reveal why some of the world’s best companies might actually be undervalued even at high multiples.
3 stocks winning from the enterprise software ‘Revolution’
The enterprise software market is booming with $5.1 trillion in IT spending projected for 2024. 3 key players are leading the way, transforming IT with their powerful platforms.
Quarterly Letter: Q2 2024
Over the past 18 months, the market has been on a tremendous run and our performance has been outstanding. Investors worry if the market has risen too fast too soon; if it’s too concentrated; and if the portfolio still offers excellent value. Get answers to all this and much more in our Q2 2024 update.
Update from the PMs – July 2024
Stock market investors could be forgiven for feeling a sense of déjà vu. It looks a lot like this time last year when the market had advanced 16% in the first six months of 2023 – its best first semester since before the pandemic – and was quickly closing in on a new all-time high.
Up 30% in a quarter? The mindset needed to successfully invest in transformational stocks
Investors in transformative businesses such as Amazon, Tencent and Meta, need to be prepared for the inherently uneven ‘lumpy’ returns of these businesses.
KKR: The Berkshire Hathaway of Private Equity?
Explore how KKR is evolving into the ‘Berkshire Hathaway’ of private equity by adopting long-term investment strategies and simplifying financial reporting. Learn the similarities in their business models and future growth opportunities.
Update from the PMs – June 2024
The month of May was a little more eventful than usual – Global equity and bond markets experienced some volatility, primarily led by the off-again/on-again fears of sticky inflation and higher interest rates.
How we uncovered a little-known IBM spinoff gem: Kyndryl Holdings
Our focus on high-quality investments led us to Kyndryl Holdings, a spin-off from IBM. Despite its initial challenges, Kyndryl’s shift from unprofitable legacy contracts to profitable new ones presents a unique opportunity.
