Dec 28, 2022
What investors can learn from the s-curves of technologies both old and new.
Highlights
- How S-curves relate to TAM (total addressable market)—and what piqued our interest about them in the first place
- Types of S-curves
- Where different technologies fall into an S-curve: E.g., cars, refrigerators, landlines, TVs,...
Dec 14, 2022
What we think about the newly proposed tax on share buybacks in Canada, a balanced take on the energy theme, and where we’ve trimmed, exited, and added in the portfolio.
Highlights:
- Which sectors may be most affected by the buyback tax
- Holdings that showed strong fundamentals throughout this...
Nov 23, 2022
How do investors figure out what a company is worth? (Especially in a higher inflationary and interest rate environment?)
Highlights
- Why doing a qualitative assessment of each company is our first filter
- How we try to determine valuations without missing the actual fundamentals (e.g., Trisura and Kinsale) and why...
Nov 16, 2022
A deep dive—right to the atomic level—of how semiconductors work and the potential implications for the industry when Moore’s Law comes to an end.
Highlights
- The transistor—a brief history
- What is a semiconductor? Why are they special? (Hint: atomic-level, laser precision manufacturing)
- HSMC, ASML, Amazon,...
Nov 9, 2022
The deglobalization shift,
long-term opportunities we’re seeing in utilities, and what’s
interesting about gravel.
Highlights:
- Impacts of currency swings and a strong U.S. dollar at the portfolio and company level
- Why we’re shifting to more
domestic companies: E.g., Texas Instruments, Martin Marietta,
Paychex