Scorecard # 21 – Compounding Knowledge
In our latest newsletter we discuss our Q1 performance along with a recent stock purchase that will be familiar to our long time followers.
Express Scripts
One of our arbitrage investment ideas – long Express Scripts (NYSE:ESRX) – was republished by Barron’s earlier this week. Details inside.
Scorecard #20 – A Money Making Machine
… Value Fund holding Visa, Inc. is the world leader in retail electronic payments. Visa, along with competitor MasterCard, form a global duopoly in the sector. Visa is an incredible business. The company grows steadily without much capital reinvestment required, adds value to both consumers and retailers and is very difficult to compete against. Visa is truly a money-making machine.
Scorecard #19 – Twin Pandemics
… Value Fund holding Novo Nordisk (NYSE:NVO) is the world leader in diabetes care with a global market share of 27% by value (46% by insulin volume). The company was founded in 1925 and is headquartered in Denmark. However, its origins have a uniquely Canadian connection…
Home Capital Group
… The unfolding Home Capital saga is both tragic and full of irony. We have owned the stock in the past, but haven’t for some time. Over the past year, Home Capital’s stock is down 84% and the company has lost over $2 billion of market value. Over a billion dollars of that decline happened in the past 7 days. The reason? A classic run on the bank.
Scorecard #18 – Cruel, Cruel Irony
… Over the past year, Home Capital’s stock is down (84%) and the company has lost over $2 billion of market value. Over a billion dollars of that decline happened in the past 7 days. The reason? A classic run on the bank. From my prior investment banking experience, I know the sector and the company very well. However, it has been so long since a bank failed in Canada that I actually had to look it up (1996 it seems).
Moats
… Moats come in various forms and Morningstar® has done a good job of organizing them into a few helpful
categories
University of Toronto’s Value Investing Conference
… At GreensKeeper we strongly believe in sharing what we’ve learned about investing.
Amazon
… We were inspired to write about Amazon.com Inc. after reading a recent article in The Globe and Mail profiling the stock.