Content (9)

  • Uncovering the qualities that set compounders apart

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    Uncovering the qualities that set compounders apart


    Compounder companies (“compounders”) are those with highly visible and long-duration growth. Lindy’s Law explains an anti-ageing process for such companies — the longer they exist, the stronger they become to survive well into the future. This enables many to become industry leaders and dominant global players. We refer to these types of venerable companies as “marathon runners”. They form the bedrock of the returns we generate for our clients. It’s not just their age that sets these companies apart. It’s the combination of unique corporate culture and resilience that keeps them growing in good and bad times.

  • Make time work for you- Comgest Europe Compounders strategy

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    Make time work for you: Comgest Europe Compounders strategy


    Time is money. It also has the power to erode value. But what if you could harness this natural force and turn it to your financial advantage? 

  • ‘The fountain of youth’ – Lindy’s Law and quality growth investing

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    ‘The fountain of youth’ – Lindy’s Law and quality growth investing


    In 1993, Princeton astrophysicist Richard Gott compiled a list of all the then-current Broadway and off-Broadway shows and noted when each had first opened in New York’s famous theatre district. He then predicted, “how long each show would run, based solely on how long it had been running already”. Ultimately, Gott was proven right – with an accuracy of 95%.

  • Screenshot 2023-11-03 at 17.06.05

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    How salmon became catch of the day


    While salmon are known for swimming upstream, salmon farmers face a tough battle when going against the flow to create businesses that align with ESG principles

  • The start-ups that grew old

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    The start-ups that grew old


    Japan’s family firms not to be underestimated

  • Is ‘quality’ a shield against inflation?

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    Is ‘quality’ a shield against inflation?


    During the 3Q 2021 earnings calls, many companies raised a ‘red flag’ for inflation. An industry study by Bank of America Global Research assessed the number of times ‘inflation’ was mentioned by European businesses on these calls.

  • comgest esg

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    An “ESG” smell test to separate the wheat from the chaff


    Looking at the number of press releases regarding funds being launched, or relabelled, as “sustainable” or “responsible”, there is little doubt that “Responsible Investment” (RI) has become a significant trend in the industry over the past 18 months.

  • outlook the global emerging markets asset class

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    Outlook: The Global Emerging Markets Asset Class


    2018 has been challenging for investors in Global Emerging Markets (GEM), with rising volatility in Forex, debt and equity prices causing negative returns. As the year has progressed, several themes have increasingly influenced sentiment and momentum.

  • Comgest - The hunt for quality thumbnail

    White papers

    The hunt for quality


    For a growth investor like Comgest, focusing on quality is one of the very few practical approaches to increase our odds of invest- ing in companies that will indeed profitably outgrow expectations already priced in their shares. But, identifying quality should not be limited to approximate yardsticks such as earnings standard deviation, a net debt / Ebitda ratio or even a slightly more elaborate Piotroski score. Instead, there is an interconnected relationship between competitive ad- vantage and quality.