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 periods. They tend to be the less glamorous companies but they are stable long-term compounders.

So how do you measure a company's pricing power? Through consistently stable gross margins.

Living Off Dividends in Retirement vs Selling Stock

Why living off dividends trumps selling stocks in retirement.

reliable growing income
reduces exposure to market volatility and sequence of returns risk.
The dividend cross-over point is a clear indicator of retirement readiness

Kamilton: The 2024 Election and Who Tells Your Story (Podcast)

A reflection on the 2024 election and who tells your story. On Trump’s victory: market implications of a supply-side boost from deregulation clashing against inflationary impulses of tariffs and deportations. The ten-year Treasury will be the most reliable barometer of all.

The Rise And Fall of the Dutch East India Company

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

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

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?