Hey guys! This week we had a a conversation with Muji @hhhypergrowth, he is the savant of all things hyper-growth investing. We discussed Muji’s 5 most important rules on hyper growth, finding the right industries and how to determine what is good industry or a bad industry and the we are going to round up the discussion with investing without moats and a small little riff about being comfortable without knowing the full details of a technology in order to invest.

• [0:00] Introduction: Who is Muji?
• [3:30] Muji’s investing journey: Netflix
• [10:00] Enterprise SaaS Companies vs Consumer Facing SaaS Companies
• [16:00] Top Line Growth
• [26:00] Signs of Operating Leverage
• [50:00] Is it Important to Understand the Technology?
• [60:00] How to Understand the Software Development Industry?
• [1:07:00] Valuations
• [1:20:00] Closing Questions and More from Muji

If you liked what you heard, please give Muji a follow on Twitter and check out his website. 

Also, a big thanks to the following sponsors for making the podcast a reality!

Quartr

Quartr is revolutionizing the way investors interact with IR departments, listen to conference calls, and engage in investment research. The best way to think of Quartr is like Spotify for investor conference calls. Quartr is 100% free and includes markets from 12+ countries (with plans to expand in the future!). Investors can easily request new companies, and Quartr is quick to add them. You can learn more about Quartr by visiting their site, Quartr.se

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Tegus

Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best.

I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself.

Mitimco

This episode is brought to you by MIT Investment Management Company -- also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests with a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. In order to help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.

For those looking to start a stock-picking fund, or those just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more!

TIKR

TIKR is THE BEST resource for company financials, transcripts, and insider ownership data. I use TIKR every day in my research process, and I know you will too. They have the widest selection of global company data, a terrific leadership team, and a bright future ahead. Try them out today at TIKR.com/hive.