Incremental Insights #20
Brambles - Some Thoughts
Wooden pallets a high returning business?
But can the company overcome its questionable history of capital allocation, stay focused on its core business, and improve its asset productivity?
Why Quality Stocks Perform So Well
Why do high-profitability 'quality stocks' outperform their less profitable counterparts? It's not about higher risk but market mispricing and analyst errors. Analysts tend to underestimate future profitability for high-quality companies and overestimate for low-quality ones, leading to subsequent revisions.
Sirius XM (SIRI)
The value that Berkshire Hathaway sees in the recent spin-off.
Quality and Defensive Investing with Christian Billinger
"Soul in the game to me is about taking pride in what you do and doing things the right way, even if it's at the expense of short-term reported earnings or short-term shareholder returns."
