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We’ve identified forces of Progress that will transform our civilization over the next few decades. We scan these forces to find investment opportunities that scream Progress.
We dig deep into these agents of Progress - companies that make lives better/easier for people around the world - by analyzing their competitive dynamics and valuation.
All our research boils down to a portfolio of 20-25 liquid, long-term, public equity investments around the world. This portfolio is a definitive bet on Global Progress.
Our Top-Down Thematic Worldview meets our Bottom-Up Research & Valuation - packaged in a clear, insightful weekly magazine delivered by email.
Influenced heavily by giants like Buffett, Munger, Graham and Fisher.
This is Intelligent Investing, modernized for the 21st Century.
We’ve identified 11 forces of Progress that will transform our civilization over the next few decades. These "macro" tailwinds provide context for sensible revenue growth assumptions in our valuation process.
Within each investment theme, we maintain a Watch List of potential investments. Each stock is listed with an "Investability Rating" - developed in-house after years of research and experience.
We look for businesses with the most believable growth stories, which boils down to a distinct, durable competitive advantage and a solid management team. We dig in deep into factors like pricing power, economic moat and growth strategy.
A price is comfortable if the revenue and cash flow growth expectations built into it are too pessimistic. We make this judgement based on our subjective analysis in Step 3 and our proprietary valuation models.
Ultimately, it boils down to a focused portfolio of 20-25 stocks of comfortable businesses at comfortable prices around the world. Our portfolio is a definitive bet on Global Progress.
Investment Research made easy to read, easy to
digest. Clear. Concise. Insightful. Actionable.
Content is still King.
"Big opportunities come infrequently. When it's raining gold, reach for
a bucket, not a thimble" - Warren Buffett