Offshore
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Stock Analysis Compilation
Baron Focused Growth Fund on IDEXX Laboratories, Inc. $IDXX US
Thesis: IDEXX Laboratories, Inc. is expected to achieve accelerated growth and strong financial performance due to the pandemic-driven increase in pet ownership, improved foot traffic, and its significant pricing power.
(Extract from their Q4 letter)
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Baron Focused Growth Fund on IDEXX Laboratories, Inc. $IDXX US
Thesis: IDEXX Laboratories, Inc. is expected to achieve accelerated growth and strong financial performance due to the pandemic-driven increase in pet ownership, improved foot traffic, and its significant pricing power.
(Extract from their Q4 letter)
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Offshore
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Finding Compounders
Chuck Akre’s Value Investor Insight Article: Return on Investment https://t.co/GLu8jxbD59
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Chuck Akre’s Value Investor Insight Article: Return on Investment https://t.co/GLu8jxbD59
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Offshore
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Finding Compounders
Ted Weschler’s statement on his IRA. Ted grew his IRA, which he converted to a Roth IRA in 2012, from $70 000 to $264.4 million
“The investing success of this account has been a function of careful stock selection, exceptional luck and a multi decade time period” https://t.co/PVHghRkL7A
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Ted Weschler’s statement on his IRA. Ted grew his IRA, which he converted to a Roth IRA in 2012, from $70 000 to $264.4 million
“The investing success of this account has been a function of careful stock selection, exceptional luck and a multi decade time period” https://t.co/PVHghRkL7A
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Offshore
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Stock Analysis Compilation
Baron Health Care Fund on Insmed Incorporated $INSM US
Thesis: Insmed Incorporated is expected to generate over $8 billion in peak sales from its lead drugs, including Brensocatib, which shows promise for treating non-cystic fibrosis bronchiectasis.
(Extract from their Q4 letter)
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Baron Health Care Fund on Insmed Incorporated $INSM US
Thesis: Insmed Incorporated is expected to generate over $8 billion in peak sales from its lead drugs, including Brensocatib, which shows promise for treating non-cystic fibrosis bronchiectasis.
(Extract from their Q4 letter)
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Investing visuals
I don’t get the $GRAB fuzz.
Let me tell you a story, based on firsthand experiences from my girlfriend. A must-read for anyone interested in $GRAB 👇
1 -- $UBER vs. $GRAB: The Rise of $GRAB 🚀
My girlfriend loves traveling and spent time in Indonesia in 2016. Back then, $UBER dominated the market.
Fast forward to 2023 -- she visited again, and $GRAB had taken over. Here’s why she found it compelling:
“Super easy to use, it was basically everywhere with high availability.”
“They had a lot of scooters, which is the main form of transport there. $UBER didn’t have that.”
“It was crazy cheap, so everyone was using it back then.”
Sounds great for $GRAB, right?
2 -- But hold on… 🤔
So I asked: “What if $UBER returned with the same offerings at lower costs?”
Her response:
“I would just pick $UBER, easy choice. But they should have high availability as well.”
She also added: “If $UBER wants a strong foothold, they should incentivize the drivers.”
Interesting right? Let's dive in a little deeper.
3 -- Did you know... 💡
That $UBER actually holds a 27.5% stake in $GRAB? So what happened here?
$UBER played the game masterfully.
When $GRAB started gaining market share (2015–2017), $UBER shifted strategy. Instead of fighting to win at all costs, they focused on expanding their global dominance.
The result?
• $UBER contained $GRAB within its Asia bubble
• Meanwhile, $UBER expanded globally
Fast forward to today:
• $UBER is the dominant global player
• $GRAB is still stuck in its Asia bubble
And the best part? If $GRAB wins in Asia, $UBER wins too, thanks to its 27.5% stake.
4 -- The Investor POV 🔎
When I invest, I look for sustainable competitive advantages. Something that truly differentiates a business.
With $GRAB, I don’t see what sets it apart besides pricing. That’s the core of its growth story.
Let’s talk numbers:
• $UBER: $6.9B LTM free cash flow
• $GRAB: $0.5B LTM free cash flow
If $UBER wanted to crush $GRAB by undercutting prices, incentivizing drivers, and ensuring high scooter availability, what could $GRAB do to stop them?
Of course, they won’t - given their 27.5% stake - but if they wanted to, they absolutely could.
$GRAB feels very fragile, not to mention the limited global expansion options. $UBER already has a dominant global presence. How will $GRAB ever compete on a larger scale?
4 -- Conclusion (TL;DR) 🧐
$GRAB might do well in Asia, but that's solely because $UBER ALLOWS them to.
The question is: What makes you think $GRAB can actually compete with $UBER, especially given their global dominance and scale? Why would you prefer $GRAB over $UBER?
I haven’t found the answer to that (yet).
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I don’t get the $GRAB fuzz.
Let me tell you a story, based on firsthand experiences from my girlfriend. A must-read for anyone interested in $GRAB 👇
1 -- $UBER vs. $GRAB: The Rise of $GRAB 🚀
My girlfriend loves traveling and spent time in Indonesia in 2016. Back then, $UBER dominated the market.
Fast forward to 2023 -- she visited again, and $GRAB had taken over. Here’s why she found it compelling:
“Super easy to use, it was basically everywhere with high availability.”
“They had a lot of scooters, which is the main form of transport there. $UBER didn’t have that.”
“It was crazy cheap, so everyone was using it back then.”
Sounds great for $GRAB, right?
2 -- But hold on… 🤔
So I asked: “What if $UBER returned with the same offerings at lower costs?”
Her response:
“I would just pick $UBER, easy choice. But they should have high availability as well.”
She also added: “If $UBER wants a strong foothold, they should incentivize the drivers.”
Interesting right? Let's dive in a little deeper.
3 -- Did you know... 💡
That $UBER actually holds a 27.5% stake in $GRAB? So what happened here?
$UBER played the game masterfully.
When $GRAB started gaining market share (2015–2017), $UBER shifted strategy. Instead of fighting to win at all costs, they focused on expanding their global dominance.
The result?
• $UBER contained $GRAB within its Asia bubble
• Meanwhile, $UBER expanded globally
Fast forward to today:
• $UBER is the dominant global player
• $GRAB is still stuck in its Asia bubble
And the best part? If $GRAB wins in Asia, $UBER wins too, thanks to its 27.5% stake.
4 -- The Investor POV 🔎
When I invest, I look for sustainable competitive advantages. Something that truly differentiates a business.
With $GRAB, I don’t see what sets it apart besides pricing. That’s the core of its growth story.
Let’s talk numbers:
• $UBER: $6.9B LTM free cash flow
• $GRAB: $0.5B LTM free cash flow
If $UBER wanted to crush $GRAB by undercutting prices, incentivizing drivers, and ensuring high scooter availability, what could $GRAB do to stop them?
Of course, they won’t - given their 27.5% stake - but if they wanted to, they absolutely could.
$GRAB feels very fragile, not to mention the limited global expansion options. $UBER already has a dominant global presence. How will $GRAB ever compete on a larger scale?
4 -- Conclusion (TL;DR) 🧐
$GRAB might do well in Asia, but that's solely because $UBER ALLOWS them to.
The question is: What makes you think $GRAB can actually compete with $UBER, especially given their global dominance and scale? Why would you prefer $GRAB over $UBER?
I haven’t found the answer to that (yet).
tweet
Dimitry Nakhla | Babylon Capital®
RT @DimitryNakhla: 10 Stocks Where FCF CAGR is Similar or Greater than Stock Price CAGR in the Past 5 Years 💸
🌐 MSCI Inc $MSCI
•FCF CAGR: 16.2%
•Stock CAGR: 12.2%
🧬 Novo Nordisk $NVO
•FCF CAGR: 21.4%
•Stock CAGR: 19.7%
📈 S&P Global $SPGI
•FCF CAGR: 17.2%
•Stock CAGR: 11.9%
🖱️ Alphabet $GOOG $GOOGL
•FCF CAGR: 18.6%
•Stock CAGR: 19.7%
🗂️ Intuit $INTU
•FCF CAGR: 16.4%
•Stock CAGR: 14.1%
📊 Manhattan Associates $MANH
•FCF CAGR: 16.8%
•Stock CAGR: 18.9%
💵 Mastercard $MA
•FCF CAGR: 19.4%
•Stock CAGR: 10.6%
🚘 Copart $CPRT
•FCF CAGR: 28.7%
•Stock CAGR: 18.1%
🏦 Intercontinental Exchange $ICE
•FCF CAGR: 10.1%
•Stock CAGR: 11.5%
📲 Applied Materials $AMAT
•FCF CAGR: 21.7%
•Stock CAGR: 20.4%
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RT @DimitryNakhla: 10 Stocks Where FCF CAGR is Similar or Greater than Stock Price CAGR in the Past 5 Years 💸
🌐 MSCI Inc $MSCI
•FCF CAGR: 16.2%
•Stock CAGR: 12.2%
🧬 Novo Nordisk $NVO
•FCF CAGR: 21.4%
•Stock CAGR: 19.7%
📈 S&P Global $SPGI
•FCF CAGR: 17.2%
•Stock CAGR: 11.9%
🖱️ Alphabet $GOOG $GOOGL
•FCF CAGR: 18.6%
•Stock CAGR: 19.7%
🗂️ Intuit $INTU
•FCF CAGR: 16.4%
•Stock CAGR: 14.1%
📊 Manhattan Associates $MANH
•FCF CAGR: 16.8%
•Stock CAGR: 18.9%
💵 Mastercard $MA
•FCF CAGR: 19.4%
•Stock CAGR: 10.6%
🚘 Copart $CPRT
•FCF CAGR: 28.7%
•Stock CAGR: 18.1%
🏦 Intercontinental Exchange $ICE
•FCF CAGR: 10.1%
•Stock CAGR: 11.5%
📲 Applied Materials $AMAT
•FCF CAGR: 21.7%
•Stock CAGR: 20.4%
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Offshore
Video
Finding Compounders
Warren Buffett on inflation proof businesses
These are the types of businesses you want to own in an inflationary environment https://t.co/te92C4V1L5
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Warren Buffett on inflation proof businesses
These are the types of businesses you want to own in an inflationary environment https://t.co/te92C4V1L5
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