The Power Law is a book about Venture Capital investing but that doesn’t mean it doesn’t hold lessons for public market investing. These are 12 investing lessons I found in the book. Lesson 1: Size Your Positions Correctly Venture investing… Read More
AGDP Episode 49: Could The New York Times (NYT) Become a Dividend Growth Stalwart?
The long-term dividend history of the New York Times is atrocious. But when we zoom into the last few years something interesting emerges. A 3-year CAGR of 20% for its quarterly dividend. The growth corresponds with a business strategy shift… Read More
The 2 Secrets to LVMH & Hermès’ Long-Term Success
Barriers to Entry Why have luxury goods companies like Möet Hennessy Louis Vuitton and Hermes been long-term winning companies and stocks? They create a barrier to entry to competitors through two methods. Signaling The first is signaling. What do the… Read More
ADGP Episode 48: How to Avoid the Investment Trap of Decision Finality
Decision Finality Decision finality is when you become more certain about a decision when you can’t undo it. You’re far more certain your horse will win after you place a bet on it than before. How does decision finality affect… Read More
5 Bottleneck Businesses in our Dividend Growth Strategy
Bottleneck Business A bottleneck business is a term created by Akre Capital Management and it describes a business that: a) sits atop large, global, secular growth opportunities fed by multiple industries and geographies, b) has those opportunities funneled (hence the… Read More
Could The New York Times (NYT) Become a Dividend Stalwart?
The historical dividend per share chart for The New York Times is horrible. But if we zoom into the last 5 years, it gets interesting. That’s an 11.8% CAGR. The last few years highlight a structural business shift. This strategy… Read More
The AMM Dividend Growth Podcast Ep. 47: Why We Own Domino’s Pizza (DPZ) & What Could Go Wrong
We eat 350 slices of pizza per second in the U.S. A pizza delivery company that feeds our insatiable demand for pizza could be a great investment. We think so and that’s why we own Domino’s Pizza (DPZ) in our… Read More
How Are You Managing Risk in the AMM Dividend Growth Strategy?
During any market correction — we’re lumping corrections and bear markets into one category for this article — a common question is how are you managing risk in the AMM Dividend Growth Strategy? Risk management is something that happens before… Read More
How Luxury Goods Companies Build a Business Moat
Why do Luxury goods providers have a moat around their business? How do Luxury goods providers maintain their market position and their social position with consumers? They’re just selling a product, albeit; a high-quality and expensive product. In theory, a… Read More
Portfolio Update: Trimming AbbVie (ABBV)
On Wednesday we trimmed our position in AbbVie in client accounts that were overweight the position. We first invested in AbbVie as a byproduct of its spin-off from Abbott Labs. We then increased our AbbVie position to a full portfolio… Read More
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