Finding Moats International, Investment Research Service | Substack

This is the second long idea I’m sharing on the blog. Good opportunities are limited and unpredictable, so I prefer to sit down and write only when I think such an opportunity arises.

Dec 16, 2022

Vertical integration and some strategic assets

Mar 20

Switching costs, cloud and competition

Feb 17

Hermès' family vision and aura of exclusivity, craftsmanship model and vertical integration

Jan 18

2022 recap and updated portfolio to face 2023

Jan 3

OEM's bargaining power, aftermarket unit economics, barriers to entry, PMA risks, M&A opportunities and TransDigm's culture

Nov 9, 2022

Main portfolio changes

Oct 17, 2022

Benefits of scale, aftermarket, SEER, distribution rights and OEMs veto power

Oct 3, 2022

Finding Moats International, Investment Research Service

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