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With a big week of earnings under way, we have focussed this Weekly Wrap entirely on the results from our portfolio companies which have reported: GE HealthCare, Microsoft, Alphabet, Meta and S&P Global GE HealthCare GE Healthcare released its second quarter earnings after spinning out from GE in January, reporting a 7% increase in revenue … Continued
This past week marked a productive period for the Swell Global Portfolio, with six portfolio companies reporting quarterly financial results. The earnings were heartening and reflected a positive momentum in their performances. The Portfolio increased 4.33% in July, a testament to our investment process and long-term orientation. We take confidence in the initiatives being undertaken … Continued
As technology juggernaut Salesforce enters a new stage of its corporate life cycle, it is worth analysing the company’s impact and potential future trajectory. Salesforce is now moving from a ‘growth at all costs’ model to one of sustainable, profitable expansion. This transition phase has created volatility in its share price, even as its long-term … Continued
Our investment thesis for Intel is based on 4 key points. Structural tailwinds that will provide long-term growth, Intel’s moat widening, new management with a track record for executing, and a valuation that provides a wide margin of safety. Structural tailwinds Devices The number of devices and volume of human-generated data has expanded exponentially over … Continued
Amazon’s advertising revenue grew 64% in the fourth quarter of 2020 to $7.952 billion and while this is only a small part of their total sales of $125.6 billion, it is fast becoming a significant contributor to future growth. To show you just how amazing Amazon’s advertising capabilities are, we will walk you through a … Continued
Our primary focus with every investment is to ensure it trades at a discount to our estimate of its intrinsic value. This is the fundamental premise behind value investing. Unfortunately, the market is prone to over optimism at times and deep pessimism at other times, and occasionally our companies will be part of this and … Continued
The Swell Global Portfolio increased 14.20% in the 12 months to 30 April 2020, and 6.13% for the month. The 12 month result outperformed the MSCI World net total return index by 11.00%. The coronavirus pandemic has created an unprecedented global disruption, and like everyone else, we have little idea when the crisis will … Continued
Clients often ask us how we allocate our time to investing each day. We spend 80% of our time on existing portfolio investments, and 20% on prospecting for new ideas. The reason we allocate so much time to existing investments is a function of our concentrated approach to investing and our focus on downside protection. … Continued
