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Lululemon: Still the King of Athleisure?
August 17, 2025 | Despite its incredible fundamentals, Lulu’s stock is depressed, trading down sharply from a valuation of 65x earnings just 18 months ago(!) Consider us intrigued.
Remitly: Remittance Giant or Crypto Casualty?
August 10, 2025 | Now, a company that is more familiar to most of us is Uber. Perhaps it’s a stretch, but I’ll make the argument that Remitly and Uber have some interesting similarities. And if you're wondering what a remittance company could possibly have in common with a ride-hailing platform, I’d advise you to stick around for this deep dive.
The Trade Desk: Heir to the Programmatic Advertising Throne?
August 3, 2025 | Back when the internet was first commercialized, there was this beautiful vision of a free and open web, where publishers could earn money from ads, advertisers could reach relevant audiences, and users could explore information without friction or gatekeepers. Then came the walls.
PayPal: Value Trap or Multibagger?
July 29, 2025 | Payments is a complex space. Shawn always says it makes his head spin. And I get it. It can be dry, and there are so many things we simply don’t know yet. But sometimes, the opportunity is too compelling not to take a closer look.
Roku: The Forgotten Streaming Giant
July 20, 2025 | What if I told you America’s fifth-biggest streaming platform after Netflix, YouTube, Prime Video, and Disney+ wasn’t Apple TV+, Hulu, Peacock, or HBO Max, as you might expect?
Estée Lauder: Burry’s Big Bet
July 13, 2025 | Interestingly, Michael Burry, who’s probably just as clueless about makeup as we are, made Estée Lauder his only U.S. stock holding. That alone made us curious.
LVMH: Investing in True Luxury
July 6, 2025 | They say fashion trends come and go, but true luxury never goes out of style. In a world where technology dominates headlines and consumer fads flare up and fizzle out, LVMH (Moët Hennessy Louis Vuitton) stands as a testament to the enduring appeal of high-end goods and experiences.
Mid-Year Portfolio Review
June 29, 2025 | We’ve come across plenty of impressive businesses, but only eight have made it into our portfolio so far. I know… we’re picky. But great investing is often more about knowing when to say no than when to say yes. Each position must strike the right balance between price and value.
Smith & Wesson: Unloved For Good Reason?
June 22, 2025 | We’re departing from the familiar territory of scalable SaaS companies and brand-centric consumer products, like Airbnb, Alphabet, Reddit, Nike, and Mercedes-Benz, and stepping into a realm that many investors will find more distasteful: firearms manufacturing via Smith & Wesson (ticker: SWBI).
