Research Reports

I’m a fan of platform businesses primarily because it often leads to a monopolistic or oligopolistic market position. The largest player, with the most merchants and traffic, offers the most…

Humans are naturally linear thinkers—we expect recent trends to continue indefinitely. So, when the energy drink company Celsius posted 100% annual growth for four consecutive years, investors began dreaming of…

There’s little in the world as addictive as simple carbohydrates, and rarer still is a company as capital efficient as Domino’s Pizza. In fact, Domino’s might be the most capital…

Paycom is a leading provider of cloud-based human capital management (HCM) software. Its comprehensive solution enables businesses to manage the entire employee lifecycle, from hiring to retirement. Designed for user-friendliness…

Due to Singapore’s tropical heat, my wardrobe is mostly shorts; the idea of wearing pants, especially at formal events, makes me shudder. I’ve always avoided buying pants until I’m forced…

Global liquor conglomerates like Pernod Ricard have historically come attached with premium valuations because of their high margins and brand powers.  The opportunity that caught my eye is Pernod Ricard…

Opportunity or value trap?

The luxury empire

From the lens of an investor and a consumer.

Wise is a fintech company that earns money by collecting fees for cross-border transactions.  This is not much different from Banks and traditional money remittance companies like the Western Union. …

Undervalued opportunity or value trap?

Just do it!