Portfolio Update - Q1 2025

New Investment Idea (2025)

Important update for all subscribers

Chapters Group (CHG.DE), Software Circle (SFT.L) and Sygnity (SGN.WA)

Instalco AB (INSTAL)

2024 Annual Letter

Spirax Group (SPX)

Games Workshop (GAW)

Bakkafrost (BAKKA)

Portfolio Update - Q3 2024

Ulta Beauty (ULTA): Opportunity or Value Trap?

New Investment Idea #2 (2024): Small-cap with little coverage that has comfortably and consistently beaten the S&P 500 over 5, 10, 15, and 20-year periods.

Portfolio Update - Q2 2024 + Important notice: Main portfolio changes + new strategy

Evolution AB (EVO) update + some thoughts on a serial acquirer: Some thoughts on Evolution AB (EVO) and a serial acquirer I'm buying shares of

New Investment Idea (2024): After my last long idea in January of this year (link), I am sharing a new one today. For obvious reasons, I will only post stock picks if I personally invest a decent chunk of my money in them. It will never be a goal of mine to look for quick ideas to share on the blog simply because they are what creates the most buzz. I think good ideas are rare and relatively infrequent, and only when I really think I am facing one of those situations do I sit down with my comput

Otis Worldwide (OTIS): Why Otis will likely outperform KONE and Schindler

Portfolio Update - Q1 2024: Main portfolio changes

LVMH (MC.PA): Bernard Arnault and democratization of luxury

Zoetis (ZTS): Similarities and differences between the animal and human health industry, generic competition and mid-long term outlook

Canadian Pacific Kansas City (CP) & Canadian National Railway (CNR): Canadian vs US rails, ESG tailwinds and autonomous truck fears

Some thoughts on the new addition to my portfolio (2024): I had been following this company closely for years and I have finally added it to my portfolio for the first time. It is already one of my top ten holdings.

2023 Annual Letter: 2023 recap and updated portfolio to face 2024

The Estée Lauder Companies (EL): The eternal rivalry with L'Oréal and the last great crisis of the Lauder family

Important Update: As of December 13, the annual subscription price will increase from $180 to $200. If you are thinking of becoming a paid subscriber you have until that date to do so for $180 a year, forever.

Perimeter Solutions (PRM): Digging into the management's compensation system and the emergence of a new competitor