Athene acquisition creates a differentiated and misunderstood business model
Last week I was on Andrew Walker’s excellent podcast with twitter friend Sleepwell Capital to discuss the bull case for Ally Financial (ALLY). You can…
Benefiting from the continued shift from active to passive management, the growth of ESG/Climate, and private assets.
My thoughts on recent challenges facing PGR and commercial lines growth opportunities.
First Republic represents a fascinating and unique case study as a rare compounder in the U.S. banking sector. FRC was founded in 1985 by Jim Herbert to…
AON announced its acquisition of WLTW in early 2020, and the merger was set to close in 2H21, before the DOJ stepped in to block the deal. Shortly…
Skeptical of integrated healthcare strategy, but CVS still looks extremely attractive
Description: Etsy operates a two-sided marketplace w/ 81.9mn active buyers, 4.4mn active sellers, and 80mn active listings as of YE20. The company’s…
This is my first time providing quarterly portfolio commentary. The purpose of this update is to provide commentary on portfolio changes, highlight…
Since I last wrote up UNH, the stock has slightly outperformed the S&P 500 Index generating a total return of 35% compared to 30% for the S&P 500. The…
JPMorgan is the largest global bank with a market cap of $490bn, total assets of $3.4tn, and generates annual revenue of over $120bn. JPMorgan benefits…
PYPL is a leading payments company, operating a two-sided network with 377 million accounts, comprised of 348 million consumer accounts and 29 million…