Debundling the Newspaper

Debundling the Newspaper

Mass circulation newspapers have borne the brunt of “disruption” by the internet. Clearly, they are trapped in a death spiral of declining circulation and revenues. Yet our local newspapers remain as influential as ever and in some cases their readerships have never…

Dissecting Afterpay

Dissecting Afterpay

Often we come across growth investment opportunities where (1) current valuation does not make sense under any traditional valuation frameworks, yet; (2) the company is clearly gaining traction in the real world and will “get to the valuation” just by continuing…

The long and short of it

The long and short of it

Why do most of my articles have a negative bias? Am I an evil short-seller conspiring against honest fair dinkum Aussie companies (and investors)? For what it’s worth, I will try to convince you here why I am not. The negative bias can be quite…

Investing in Trump

Investing in Trump

I’ve always been a fan of Peter Thiel. His musings on the ideology of competition (from his book Zero to One) is in my view a must read for anyone interested in business. As the quintessential Silicon Valley elite, his vocal…

Timing Matters

Timing Matters

I re-watched this short TED presentation given by Bill Gross (not the fixed income guy, but the Venture Capitalist): Fitting neatly into this, Sequoia Capital’s biggest question for entrepreneurs is “Why Now?” Although the context here is Venture Capital backed startups,…

Micro disruptions

Micro disruptions

A key benefit of being the co-owner of an operating business is that sometimes you get very interesting investing insights from the coal face. The service my company provides is a niche waste disposal service targeted at SMEs that is as staid and…

Shorting the institutional imperative

Shorting the institutional imperative

The last couple of months have seen a number of spectacular share price collapses on the ASX involving recently listed companies. Prior to this, almost all of these companies (and their private equity sponsors) were credited with tremendous “value creation” stories over typically…