The Synopsis

On this episode we talk about a recent memo, What is a Great Business?  Other Memos Mentioned: The Consumer's Hierarchy of Preferences: The Other Side of the Consumer Value Prop For full access to all of our in-depth research reports, become a Speedwell Member here.  -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (1:53) Observing versus Creating a Great business (6:07) Great Businesses through the lens of The Consumer's Hierarchy of Preferences  (8:27) Pressure Cooker Metaphor  (15:15) Is Reinvestment Runway a Criteria?  (23:03) Moats and Copart (27:30) CHOP and Disruptions (30:44) Nintendo (34:35) Where does the Surplus Lie? (41:13) Walker & Dunlop  (45:54) 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/

On this episode we talk Constellation Software and RH!  Listen to our full company-specific episodes on Constellation Software and RH in our feed if you haven't already!  *Note* After this recording we switched how we record our podcasts, so you should enjoy better sound quality in the future!  Memo Mentioned: The Investment Matching Principle -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (1:40) Constellation Software Update  (33:09) RH Update  (52:42) 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/

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 memo is "What is a Great Business?" Memo Link:  https://www.speedwellmemos.com/p/what-is-a-great-company  Check out Speedwell's Interview with Best Anchor Stocks (Spotify, YouTube) -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:01) –Memo Reading Starts (18:37) – 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. 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/

In this wide spanning interview episode we talk with Best Anchor Stocks' Leandro on investment philosophy, quality businesses, Nintendo, Deere, Copart, Hermes, and much more!  Find out more about Best Anchor Stocks here, follow Leandro on Twitter @Invesquotes  and Best Anchor Stocks Podcast can be found here. -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (1:16) What Characterizes a Good Business?  (6:15) Multiples, Implied Valuation, Reverse DCF  (26:00) Great Companies and Valuation, Copart, Constellation Software  (35:32) Nintendo and Deere, Transitioning Business Models  (49:01) Hermes, Durability, Ferrari, Rolex, and Luxury   (1:15:12) A Good Business versus a Good Investment  (1:18:05) Book Recommendations  (1:22:58) Conculsion -*-*-*-*-*-*-*-*-*-*- 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/

On this episode we talk Floor & Decor, Copart, and their 1Q24 results.  Check out our full company episodes on Floor & Decor and Copart below if you haven't already!  Floor & Decor Company Episode:  Apple  Spotify Copart Company Episode:  Apple  Spotify (Note Copart's latest quarter is fiscal 2Q, but ends Feb. 27) -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (0:47) Floor & Decor Update  (17:58) Copart Update  (39:06) 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/

On this episode we talk about Grab, WeChat, Meituan, X, and all things about SuperApps. Our conversation builds off of a recent memo on SuperApps, which you can read here: WeChat, Meituan, and Grab: What is a SuperApp and Why You Will Fail Building One **Please note we had issues with the orginal sound recording and had to use AI tools to adjust the sound volume, however it adversely impacted the sound quality. We apologize for this and will try to avoid this happening in the future.**  -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (0:51) SuperApps Intro, Cross Selling, Sea Limited's Free Fire  (8:54) What a SuperApp Aims to Do  (13:59) WeChat History and What Was Different About It  (20:41) Why no Mini-programs or SuperApps in the U.S.? (23:28) Meituan's and Grab's SuperApp; Twitter/X's Ambitions (41:03) The Physical World's "SuperApps", Sears, E-Commerce Grocery -*-*-*-*-*-*-*-*-*-*- 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/

On this episode we talk about Meta, Evolution, and their 1Q24 results. Check out our full company episodes on Meta and Evolution below if you haven't already!  Meta Company Episode: Apple, Spotify Evolution Company Episode: Apple, Spotify A written update on Meta's 1Q24 results can be found here.  -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (1:06) Evolution Business Update (16:06) Meta Business Update  (48:37) 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/

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 memo is a business update on Meta.  Memo Link:  https://www.speedwellmemos.com/p/meta-1q24-business-update Purchase our Meta Research Report here. Become a full Speedwell Member and gain access to the updated reverse DCF and Meta Report here.  -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:04) –Memo Reading Starts (17:17) – 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. 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/  

On this episode we talk about RH and provide an update with their business. Check out our full company episode on RH if you haven't already! (Links below) RH Company Episode: Apple, Spotify A Written Update on RH from 1H23 can be found here.  -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (1:01) Announcement (2:05) RH Business Update  (30:44) 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/

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 memo is "The Investment Matching Principle: How the Risk/ Return Profile Connects to Diversification"  Memo Link:  https://www.speedwellmemos.com/p/wechat-meituan-and-grab-superapp  -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:07) –Memo Reading Starts (14:43) – 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. 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/  

On this episode we talk about two Speedwell Memos. The first memo is titled "Priced to Outperform Perfection: The Home Depot Circa 1999" and covers how to think about valuation and what is priced into a stock.  The second memo is If the Model Doesn't Work, Don't Fix It: A Look at Traditional Apparel Retailers, Zara, and Shein and covers the business operations of three different retail models.  -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (0:45) First Memo on What was Priced into Home Depot's Valuation circa 1999 (22:07) Second Memo on Traditional Retailers, Zara, and Shein -*-*-*-*-*-*-*-*-*-*- 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/

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 memo is an exceprt from our Evolution Research Report.  Memo Link:  https://www.speedwellmemos.com/p/evolution-business-history  Become a Speedwell Member or Purchase the Evolution Single Report Here -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:18) –Memo Reading Starts (13:40) – 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. 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/