This article is the 3rd in a 6-part series examining how the drivers of value creation are the same as sustainability drivers. We will outline these drivers in these 6 posts and show how recent ESG efforts to define business…
Take a quick holiday with two patriots in Roma, as we review the investment case for Piaggio (PIA IM). Not only did the Vespa begin the scooter revolution, but it set people free and democratized personal mobility. Seven decades later,…
What better day to discuss the power of price incentives on a business than Black Friday? There is none, and so let’s dive right in with our thesis: temporary price incentives undermine the quality of the demand for a company’s…
Before the Eurozone currency was formed, Germany was nicknamed the "sick man of Europe." It had persistently high unemployment as it was a manufacturing-dominated economy with a continuously strong Deutsche Mark. Not a great scenario when the wages of the Germany…
One of the less discussed mental models investors can apply to various businesses is the telecom carrier way of looking at the world: a) gross additions (which ties to consideration), b) customer churn and c) the effects that this two-lane highway…
An important mental model for investors to use is the power of feedback loops. These exist in nature everywhere, as well as some of the best and least-loved sectors in the investment universe. Many internet companies are the beneficiaries of positive…
Speed Read: UK economy primed for recession regardless of Brexit vote Property prices peaked in Q1 and have already started to decline Consumer confidence already weakening - this will accelerate post Brexit Unemployment 30 bps away from all-time lows, further…
We were so pleased to be named a finalist to present at the Ira Sohn conference, and are happy to share our prepared presentation in its proper presented format in youtube. Front-Running the Next Sohn Every idea we've submitted to past…
Please click here to read our first quarterly letter for 2016 (3-pages) discussing the events of the very recent past. It has been a busy quarter at GreenWood, as I just made my first short presentation to a group of investors in Madrid…
In a Nutshell: In a matter of one month, traders in shares of Fiat-Chrysler and Ferrari have fully baked-in a full-fledged financial crisis into the stock valuations. EXOR’s discount to NAV has gone from under 20% to over 40% in…