All ideas

Costco has outperformed Walmart in stock performance by prioritizing employee compensation and benefits, which has led to better stakeholder relationships and long-term value creation.

Dolby is positioned for significant growth due to its transformation from a standards licensing business to a provider of premium audio and visual products. The upcoming adoption cycle, driven by incr

Alphabet has been a long-term holding due to its strong cash flow generation and the need for optimization in its business model. The appointment of Ruth Porat as CFO was seen as a positive move to en

Home Depot has a strong competitive advantage due to its significant revenue generated from pro contractors, who account for only 4% of its customers but contribute 45% of its revenue. The company has

ANGI is positioned to dominate the home services market through its pre-priced model, which enhances user experience and drives transaction frequency. The company is expected to significantly improve

Angi Inc. is transitioning from a lead generation model to a pre-priced transaction model, which is expected to improve economics significantly. With a large and growing total addressable market (TAM)

Dolby has significant hidden operating leverage with a majority gross margin licensing business. Despite recent margin erosion, the underlying 'New Dolby' business is growing revenue at approximately

Progressive has been an extraordinarily good investment over the years, and the investors should have owned more of it due to its strong performance in the insurance market.

Intel's competitive position has changed as AMD's server chips can outperform Intel's on power efficiency, leading to concerns about Intel's future market share.

Although Kinsale has a strong management team and is gaining market share, the stock price is starting to reflect expectations of becoming a larger underwriter, which may require raising capital and c

Plymouth Rock has a strong entrepreneurial culture and is well-managed for shareholders, focusing on long-term growth and capital allocation, which positions it well in the fragmented insurance market

Alphabet is under-earning in certain areas due to cyclical factors, such as travel, and investments through the income statement in projects like Waymo and Verily.

Star Group is a fuel oil distributor with a management team focused on improving cash flow per share over time, despite not having positive organic revenue growth. This focus on cash flow makes it a u

Cogent generates organic growth but lacks the ability to redeploy all its free cash flow back into the business. The unique CEO, who owns 10% of the company, is focused on maximizing capital returns,

Keysight has been a great investment for Central, especially after the spin-off from Agilent. Despite my initial hesitation to add to the position, its significant appreciation since then indicates it

Aon is acquiring Willis Towers Watson, and we see this as a strong opportunity given the cash flow characteristics of insurance brokers. We believe that the cost synergies from this acquisition could

We believe Analog Devices is undervalued following its acquisition of Linear Technology, which initially caused the stock to decline. The market's perception of it as 'dead money' due to regulatory de

Roper has a unique culture and business model that focuses on cash flow and sensible acquisitions, making it a strong long-term investment choice.

Schwab is considered the most interest rate sensitive stock, and while the market has adjusted to interest rate expectations, the potential for higher marginal returns makes it an attractive long-term

Etsy is positioned to benefit from strong network effects and data feedback loops, which enhance its profitability as it grows. With a current valuation of around $25 billion and potential for $10 bil

Etsy is a two-sided marketplace that specializes in handmade products, benefiting from trends towards individualism and supporting small businesses. With a small market share in a large eCommerce mark

John Huber describes VeriSign as the 'toll road of the internet' due to its monopoly on .com and .net domains, which provides high-margin, recurring revenue. He acknowledges that he sold the stock too

John Huber mentions owning NVR due to its well-managed business model that reduces risks inherent in the homebuilding industry. He appreciates its cost-efficient operations and strong culture, which m

John Huber believes Apple is a great brand with a highly sticky ecosystem and a strong retention rate in hardware, which creates recurring revenue similar to a subscription model. He acknowledges that