A Series on Moat Trajectory: Part 1
We all want high-quality businesses with wide economic moats, but what we really want are companies with expanding moats. WCM examines its investments in Spotify and Sea Limited, showing how its focus on moat trajectory helped them identify critical inflection points.
Fiserv: The Day the Music Died
What does Fiserv’s 40% stock plunge and missteps by past management mean for legacy payment processors vs. modern players like Stripe and Adyen?
Surviving the AI Capex Boom
Firms with high asset growth tend to underperform the market. With all the current AI leaders transitioning from capital-light to capital-intensive businesses, their asset growth is exploding. Can they buck the historical trend, or will they suffer the same fate as previous CAPEX-fueled booms?
Chain Restaurants and the Interstate
Howard Johnson’s, McDonald’s, and KFC exploded in growth alongside the U.S. Interstate growth, but why did McDonald’s and KFC survive and Howard Johnson’s fade away?
Fiserv’s Lone Bear: 26-Year-Old Analyst Explains His Call Before Huge Selloff
And the company he really likes.