Match Group receives significant investment from Elliott Management.
Amazon's layoffs and new technology development.
Underfollowed wide moat businesses and the 737 Max debacle with Alaska Air.
Deep dives
Monaco's Exclusive Casino Operator: SBM
SBM is the exclusive casino operator in Monaco, owning 52 properties including the iconic Monte Carlo. It is deeply connected to the money spent and visitorship in Monaco, making it a high-moat business.
Transurban: Toll Road Operator
Transurban operates toll roads, including the I-95 express lanes in the US. With built-in price escalators, the business has a solid moat.
FDJ: Exclusive Operator of France's National Lottery
FDJ holds the exclusive rights to operate France's national lottery games, making it a monopoly business in the country.
Rightmove: UK's Leading Online Real Estate Portal
Rightmove is the dominant online real estate portal in the UK, owning an 86% market share. It is a high-quality business in the real estate industry.
Aena: Operator of Spanish Airports
Aena is the operator of Spain's commercial air traffic, accounting for 99% of the country's air traffic. It is a crucial infrastructure business.
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