Friday, December 27, 2013
Monday, December 23, 2013
Retail is a tough industry. There are low switching costs for customers (though firms try to mitigate this with things like loyalty programs), low barriers to entry, and fixed costs make up a large percentage of overall costs, which means even slight changes in revenue can have large effects on the bottom line. But for these very same reasons, it is also a very interesting/dynamic sector from the perspective of a retailer that is doing well and looking to grow its share.
Thursday, December 19, 2013
Tellza (TEL) is an under-followed Canadian microcap. The company has seen year-over-year revenue growth of almost 60% through the first 9 months of 2013, with likely more to come thanks to what appears to be a competitive advantage. Despite this, the company trades at a single-digit P/E, with no debt and a rising cash balance.Read more...
Tuesday, December 17, 2013
I've been asked a few times to list my favourite investment books of all-time, so I figured I'll take a stab at it. I cameup with this list rather arbitrarily, because I don't know how else to do it without using up too much time. Here they are, in alphabetical order:
Monday, December 16, 2013
Tuesday, December 10, 2013
I don't read a lot of fiction, but that may soon change. Though I do prefer my continuing education to be fact-based, there's no denying that fiction has a unique ability to illustrate and communicate ideas that would otherwise be difficult to fully express. For this reason, despite my overwhelming preference for non-fiction material, some of my favourite books happen to be fiction, including Animal Farm and The Goal. I hold Kathryn Stockett's The Help in similarly high esteem.
Monday, December 9, 2013
Thursday, December 5, 2013
Wednesday, December 4, 2013
Tom Murphy started out managing a tv station after graduating from Harvard Business School. Over the ensuing decades, he would come to run/own the media company Capital Cities, which bought ABC and eventually sold itself to Disney, earning shareholders who hung in there from the start 10,000 times (not a typo!) their original investment. Here is a terrific interview transcript where he talks about what allowed him to be successful: