Incremental Insights #12

ASML - A Wonderful Business at a Fair Price

As AI reshapes industries, ASML's lithography mastery fuels chip innovation. From 5G to IoT, their machines are the backbone of our digital future. With a monopoly in EUV tech, ASML is poised for explosive growth.

Focus: The ASML way - Inside the power struggle over the most complex machine on earth

‘ASML is the most important company you may have never heard of. Marc Hijink provides the inside story of its rise to global dominance, from its humble roots in the Netherlands to its globe-straddling position as the monopoly producer of the machines that make the chips that make artificial intelligence possible.

Economic Moats Explained: What They Are & Why They Matter - Part III

The width of a company's economic moat is crucial for protecting its competitive advantage.

Key insights:

Wide moats often feature multiple sources
Network effects create the widest moats
Moat width must match the "castle" it defends

Acquired: The Complete History & Strategy of Costco (Podcast)

Costco has one of the greatest retail business strategies in the world and one of the best business models across all industries. But it didn’t happen overnight—the complete evolution of Costco from Fedco to Fed-Mart to Price Club to retail juggernaut, Costco.

Why We Bought ULTA Stock… Back in May!

Why Alpha Architect’s QVAL ETF bought Ulta Beauty (ULTA) before Buffett.

Incremental Insights #22

Cash! Is Warren Buffett bracing for a market downturn? Berkshire Hathaway's cash reserves have swelled to over $300 billion, sparking widespread speculation. However, this massive cash pile might not be purely bearish positioning. Instead, it's likely a consequence of Buffett's extraordinarily successful Apple investment.

Why Chris Hohn & TCI Own GE Aerospace

Chris Hohn runs the multi-billion dollar hedge fund The Children's Investment Fund (TCI). As of 2022, the fund generated annualized returns of over 18%. In 2023, TCI's return soared to 32.7%. TCI achieves these impressive returns by focusing on a select few great businesses with

Incremental Insights #21

The Ten Best Companies in the World From Visa's global dominance to Hermès' luxury legacy, the 10 powerhouse companies reshaping the business landscape and what makes them the 10 best global companies. Pricing Power Everywhere Companies with pricing power have significantly outperformed the broad market over long

From MTV to Mammograms: Unexpected Lessons in Risk Management

In 2020, former MTV VJ Ananda Lewis announced that she had stage 3 breast cancer. She discovered the tumor during a self-examination not through a regularly scheduled mammogram. She revealed after her diagnosis that she had actively avoided mammograms, despite having a family history of breast cancer. Her reason? She