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Video: Quality = Conscious + Capitalism

Our friends at ValueDACH asked us to flesh out our definition of conscious capitalism and why we use these criteria to assess the quality of a company. While, of course, we rate management teams, industry lifecycles, and competitive advantages, among many other criteria, we believe approaching quality from a conscious capitalist lens gives us an edge over our peers.

When a company’s customers, employees, suppliers and communities love the company they interact with, goodwill compounds and these firms do significantly better than their competition, if they even have any. It often coincides with the Builders’ approach we’ve previously outlined: high growth, lower profit margins, overall better returns for everyone.

You can catch the view interview below or by going directly to youtube.

Also – TripAdvisor (TRIP): We’ve posted our most recent research update from this week to our public research page. You just need to be logged in to see it. Enjoy.

Upcoming Events – Please Join Us!

  • December 7, 2018: Steven will be moderating a panel discussion on family controlled companies at the first ever Project Punch Card Conference in NYC on December 7. Details for the conference, which supports a cause near and dear to our hearts, can be found here. We will also be having a cocktail reception the night before. Please RSVP if you’d like to join.
  • December 31, 2018: Founders’ Class for Investors Closing. We outlined the new terms for new investors in our Third Quarter Letter.


This article has been distributed for informational purposes only. Neither the information nor any opinions expressed constitute a recommendation to buy or sell the securities or assets mentioned, or to invest in any investment product or strategy related to such securities or assets. It is not intended to provide personal investment advice, and it does not take into account the specific investment objectives, financial situation or particular needs of any person or entity that may receive this article. Persons reading this article should seek professional financial advice regarding the appropriateness of investing in any securities or assets discussed in this article. The author’s opinions are subject to change without notice. Forecasts, estimates, and certain information contained herein are based upon proprietary research, and the information used in such process was obtained from publicly available sources. Information contained herein has been obtained from sources believed to be reliable, but such reliability is not guaranteed. Investment accounts managed by GreenWood Investors LLC and its affiliates may have a position in the securities or assets discussed in this article. GreenWood Investors LLC may re-evaluate its holdings in such positions and sell or cover certain positions without notice. No part of this article may be reproduced in any form, or referred to in any other publication, without express written permission of GreenWood Investors LLC.

Past performance is no guarantee of future results.

This Post Has One Comment

  1. Hi Steven,

    I loved reading your update on TRIP. I have one question though. It seems that your thesis for hotel segment is focused on improving revenue click rates.

    Do you not believe in the opportunity to monetize users by booking hotels directly on the TRIP site? It seems like such a win/win for both TRIP and the users. Users have a more simple experience and conveniently stay on their favorite site, and TRIP can take a higher rate. Have management given up on this effort? I have a hard time understanding why they can’t get this to work. Especially since I personally use TRIP all the time and always book my hotels directly on TRIP.

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