The Synopsis

Exploring the cost of equity, absolute vs relative investors, and the punch card idea. Challenging fixed percentage returns in finance and evaluating equity risk premiums. Dichotomy between growth managers and absolute investors, biases in absolute investing, and parallels to relative perceptions. Analyzing opportunity cost, cost of capital, and strategic decision-making in investing using Warren Buffett as a case study.

Exploring the agile models of Zara and Shein in traditional apparel retailing, contrasting with the struggles of traditional retailers in balancing inventory. Delving into Zara's rapid design updates and limited editions for efficient inventory management. Comparing Zara's centralized model with Xi'in's decentralized design process and rapid scaling based on demand.

In this episode of The Synopsis we read an excerpt from our Constellation Software research report, covering their Business History. If you prefer to read instead of listening to this article, you can find access to it below. Article Link: Speedwell Memos - Constellation Software Business History -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:13) – Article Reading Starts (9:25) – Closing Comments -*-*-*-*-*-*-*-*-*-*- Purchase Constellation Research Report Purchase a Speedwell Membership to gain access to all of Speedwell's Research Reports, Models, Company Updates, and more. Speedwell Research's main website can be found here. Speedwell's free newsletter can be found here. -*-*-*-*-*-*-*-*-*-*- Twitter: @Speedwell_LLC Threads: @speedwell_research Email us at info@speedwellresearch.com for any questions, comments, or feedback -*-*-*-*-*-*-*-*-*-*- Disclaimer Nothing in this podcast is investment advice nor should be construed as such. At the time of publishing, one or more contributors to the podcast had a position in Constellation Software. Furthermore, accounts one or more contributors advise on may also have a position in Constellation Software. This may change without notice.Please see our full disclaimers here: https://speedwellresearch.com/disclaimer/

Discover the growth strategy of Constellation Software, from early acquisitions to becoming a conglomerate of software businesses. Explore the benefits of vertical market software, corporate structure, SaaS adoption, and capital allocation. Learn about Topicus and Lumine acquisitions, financial strategies, and growth initiatives. An insightful look at the unique business model and acquisition spree of Constellation Software.

Dive into the intriguing world of market predictability and investment strategies. Discover how short-term earnings can distort stock valuations and the clash between short-term and long-term investor perspectives. Explore the risks of short-term tactics, especially during market volatility. Learn how long-term investors can thrive amidst fluctuations, exploiting the market's temporary focus. The discussion encapsulates essential insights for navigating today's complex investment landscape.

On this episode we talk about a recent memo on how investors can influence businesses and what is difference between being a public versus private company. The memo we draw on is called "From Private to Public Markets: The Detrimental Impact of Investors' Expectations" and can be found here. We recently found out we have a *duplicate Spotify feed* and will be *removing* it this week. Please follow this correct Spotify feed just called "The Synopsis" to keep getting our content! -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (1:21) Two Extremes of Investing (6:49) Reflexivity, Difference Between Analyst and Operator (19:36) Risk Embedded in Assumptions were Too High, Illustration (23:57) The Role of Narrative (28:24) Conclusion -*-*-*-*-*-*-*-*-*-*- Become a Speedwell Member here to gain access to *all* of our in-depth research reports and more! Sign up for Speedwell's free newsletter and weekly memos here *-*-*- Follow Us: Twitter: @Speedwell_LLC Threads: @speedwell_research Email us at info@speedwellresearch.com for any questions, comments, or feedback. -*-*-*-*-*-*-*-*-*-*- Disclaimer Nothing in this podcast is investment advice nor should be construed as such. Contributors to the podcast may own securities discusessed. Furthermore, accounts contributors advise on may also have positions in companies discussed. Please see our full disclaimers here: https://speedwellresearch.com/disclaimer/

*Important* If you listen on Spotify, make sure you follow us on this Spotify feed. We just became aware there was a duplicate feed, which we are disconnecting next week. In this episode of The Synopsis we read our weekly Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks article is From Public to Private Markets: The Detrimental Impact of Investors' Expectations Article Link: https://www.speedwellmemos.com/p/from-private-to-public-markets-the -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:20) –Memo Reading Starts (20:52) – Closing Comments -*-*-*-*-*-*-*-*-*-*- Purchase a Speedwell Membership to gain access to Speedwell's Extensive Research Reports, Models, Company Updates, and more. Speedwell Research's main website can be found here. Find Speedwell's free newsletter here. -*-*-*-*-*-*-*-*-*-*- Twitter: @Speedwell_LLC Threads: @speedwell_research Email us at info@speedwellresearch.com for any questions, comments, or feedback -*-*-*-*-*-*-*-*-*-*- Disclaimer Nothing in this podcast is investment advice nor should be construed as such. Please see our full disclaimers here: https://speedwellresearch.com/disclaimer/

In this interview, Mostly Borrowed Ideas provides deep insights into Meta, Google, and investment decision quality. Topics discussed include Meta's challenges, Google's future, constraints in cloud computing, Meta's real estate investments, the importance of writing in investment decision making, and the danger of borrowed confidence.

A discussion on investment risks impacting Etsy and Meta, with insights on Etsy's value proposition and Meta's key risks. The podcast explores the impact of new competitors like Timu on Etsy's advertising strategy and analyzes ad tech changes affecting Meta's stock value. It also delves into challenges in marketing strategies and the complexity of digital advertising evolution.

In this episode of The Synopsis we read an excerpt from our 79 page Etsy Report, covering Etsy's Business History. If you prefer to read instead of listening to this article, you can find access to it below. Article Link: https://www.speedwellmemos.com/p/etsy-business-history -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Important Announcement (0:45) – Intro (1:36) – Article Reading Starts (30:31) – Closing Comments -*-*-*-*-*-*-*-*-*-*- Purchase Etsy Research Report Purchase a Speedwell Membership to gain access to all of Speedwell's Research Reports, Models, Company Updates, and more. Speedwell Research's main website can be found here. Speedwell's free newsletter can be found here. -*-*-*-*-*-*-*-*-*-*- Twitter: @Speedwell_LLC Threads: @speedwell_research Email us at info@speedwellresearch.com for any questions, comments, or feedback -*-*-*-*-*-*-*-*-*-*- Disclaimer Nothing in this podcast is investment advice nor should be construed as such. Please see our full disclaimers here: https://speedwellresearch.com/disclaimer/