Incremental Insights #94
The best of what I read, listened to, and watched during the week
The Investment Case for Listed Railroads
Actual physical network effects with extremely high barriers to entry for competitors. The UNP & NSC merger should unlock a lot of savings and increase demand for their transcontinental system.
Long Broadridge Financial
Broadridge was not immune to the Saaspocalypse but it brought the stock price of Wall Street monopoly down to a great price.
Honoring Murray Stahl: Replay of a Fireside Chat with the Legendary Investor at Latticework 2018
“In a fireside chat, Murray Stahl discussed finding value in an increasingly indexed market, cryptocurrency, and unconventional compounders.”
Mitchell Green - Lessons from Cold Calling 10,000 Companies
An interesting angle on VC and growth investing.