Remorseless
While every short seller is still celebrating the demise of Wirecard, I thought it might be worth writing about another financial institution that is in... Read More
Recurring revenue and moats
A friend on twitter, Andrew who runs https://www.fundhunter.co/ asked an interesting question: is recurring revenue a “moat” in itself? That is, do all companies that... Read More
A banking paradox
I try to avoid writing blog posts on banks. I spent over a decade publishing research on banks – see here, and got well paid... Read More
Those who fear a loss
But those who speak know nothing And find out to their cost Like those who curse their luck in too many places And those who... Read More