All investors should study Fair Isaac $Fair Isaac(FICO)$ Yes, long-term debt is a high percentage of total assets, but their interest expense is a low percentage of operating profit (meaning debt is affordable). And yes, stock-based compensation is a high percentage of operating cash flow, but their FCF per share CAGR is high and their shares outstanding are dropping quickly (meaning there's still great capital allocation). $Zoetis(ZTS)$ has recently seen its FCF yield jump up. The market is clearly pricing in slower long-term growth and some margin pressure versus its historical premium. Yet the core animal health franchise remains highly resilient, with recurring revenue and durable demand from pet owner

$Visa(V)$ $MasterCard(MA)$ $Fair Isaac(FICO)$ $MSCI Inc(MSCI)$ have all compounded their free cash flow per share by ≈ 20%+ over the last 15 years. But it's not just the anti-fragile fintechs that have achieved this, so has the storage company Extra Space Storage $Extra Space Storage(EXR)$ . Which on the list do you own? $Fortinet(FTNT)$ has seen its revenue grow by 20% and its EPS grow by 41%. It's been a fairly good quarter so far for the 10 companies in the Long Equity portfolio. Impressive results for Fortinet I’ve always felt this compan

The global semiconductor supply chain is built on a handful of "unblockable" monopolies. My infographic attempts to map out the bottlenecks in the supply chain. What’s currently the best investment opportunity in the sector? $Synopsys(SNPS)$ $Cadence Design(CDNS)$ $TE Connectivity(TEL)$ $ASML Holding NV(ASML)$ $Lam Research(LRCX)$ $Applied Materials(AMAT)$ $KLA-Tencor(KLAC)$ My views： 1.Many investors new to semis jump straight to ASML. I think it’s worth digging into as many semi companies as y

Many investors pay attention to the wrong variables. Here’s a list of what doesn’t matter, what matters somewhat, and what actually drives returns: Doesn’t really matter: •Market cap •Country company is listed •Share price •Dividend yield Matters somewhat: •Sector •FCF yield •Revenue growth •Insider ownership / owner operator Matters the most: •Return on capital •Margin expansion •Pricing power •Reinvestment runway What would you add? For examples： 1. $Qualys(QLYS)$ Qualys is just one of a number of companies now seeing an all time high FCF yield. The market is pricing in less future growth and a lot of uncertainty. But are they mistaken? 2. $Adobe(ADBE)$ Adobe's free cash flow yield is significantly abov

Five high growth US SMID stocks 1. $Catalyst Pharmaceuticals(CPRX)$ 5yr share price CAGR = 43% RSq = 0.95 2. $Mueller(MLI)$ 5yr share price CAGR = 38% RSq = 0.95 3. $Coca-Cola Bottling Co Consolidated(COKE)$ 5yr share price CAGR = 38% RSq = 0.92 4. $SPX Technologies(SPXC)$ 5yr share price CAGR = 27% RSq = 0.93 5. $Clean Harbors(CLH)$ 5yr share price CAGR = 26% RSq = 0.96 For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.

Some thoughts on $McKesson(MCK)$ Most patients never encounter McKesson. Doctors prescribe drugs, pharmacies dispense them, and manufacturers produce them. But McKesson actually moves the medicine through the system. They function less like a healthcare company and more like infrastructure. They operate a massive logistics network that moves pharmaceuticals from manufacturers to hospitals, pharmacies, and clinics across the US. Once something becomes embedded this deeply into a system, it stops looking like a business and starts looking like plumbing. From the outside the economics appear unusual. McKesson generates hundreds of billions in annual revenue, but operates on thin margins. Enormous volumes are moved, but with only small margins attached

This overview categorizes major companies by market power: monopolies dominate niche sectors, duopolies share control between two leaders, and oligopolies consist of a few key players shaping entire industries. It highlights how market structure drives pricing, retention, and competitive advantage. 🏰 Monopolies $Taiwan Semiconductor Manufacturing(TSM)$ - advance semi fab $ASML Holding NV(ASML)$ – EUV lithography $VeriSign(VRSN)$ - domain name registry $Fair Isaac(FICO)$ – credit scores $Intuit(INTU)$ – tax preparation software $Thermo Fisher

LATEST FACTSHEET: FEBRUARY 2026 YTD: 4.7% Cash Return on Capital = 41% 5yr FCF per share CAGR = 26% The portfolio continues to be optimised for: (i) consistently high free cash flow per share growth rate, (ii) consistently high return on capital, and (iii) pricing power. Portfolio comment: We exited our positions in $Applied Materials(AMAT)$ , ATOSS Software and $Technology One, Ltd.(THNOF)$ . The top contributor to performance was $Comfort Systems USA(FIX)$ . The top detractors from performance were $Fair Isaac(FICO)$ and $NVIDIA(NVDA)$ .

Here are the 10 companies in my portfolio sorted by what % of their revenue is from the US. Which is riskier: 100% US revenue or 100% non-US revenue? I avoid anything becoming a -10% loss or more, so yes I sold due to price volatility. The first aim of investing is capital preservation, the second is capital growth. $Comfort Systems USA(FIX)$ $Fair Isaac(FICO)$ $Cadence Design(CDNS)$ $NVIDIA(NVDA)$ $MasterCard(MA)$ $Fortinet(FTNT)$ $MSCI Inc(MSCI)$ $Visa(V)$

Here's a look at some of the year to date returns for a range of software companies. $Microsoft(MSFT)$ $Fair Isaac(FICO)$ $Adobe(ADBE)$ $Veeva(VEEV)$ $Salesforce.com(CRM)$ $NEMETSCHEK SE(NEMKY)$ $Constellation Software, Inc.(CNSWF)$ $Technology One, Ltd.(THNOF)$ $Intuit(INTU)$ $Wisetech Global(WIGBY)$ MSCI World Quality has beaten the index in 9 of the last 14 year

LATEST FACTSHEET: JANUARY 2026 YTD: 3.3% Cash Return on Capital = 40% 5yr FCF per share CAGR = 26% The portfolio continues to be optimised for: (i) consistently high free cash flow per share growth rate, (ii) consistently high return on capital, and (iii) pricing power. Performance The top contributors to performance were $Lam Research(LRCX)$ and $Applied Materials(AMAT)$ . The top detractors from performance were $Fair Isaac(FICO)$ and ATOSS Software. Looking for oligopolies, with wide barriers to entry and strong network effects? That’s why I built the Global Compounders Database. $NVIDIA(NVDA)$

The global semiconductor supply chain is built on a handful of "unblockable" monopolies. My infographic attempts to map out the bottlenecks in the supply chain. Where do you invest? I personally own $Cadence Design(CDNS)$ , $Applied Materials(AMAT)$ , $Lam Research(LRCX)$ and $KLA-Tencor(KLAC)$ . $ARM Holdings(ARM)$ sits at the top. It licenses the CPU architecture and cores before any design tools or manufacturing begin. $Synopsys(SNPS)$ /Cadence turn ARM IP into layouts, and only then do $ASML Hol