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? PS: TSMC manufacture semiconductors, these companies manufacture the machines that manufacture semiconductors. $Synopsys(SNPS)$ $Cadence Design(CDNS)$ $TE Connectivity(TEL)$ $ASML Holding NV(ASML)$ $Lam Research(LRCX)$ $Applied Materials(AMAT)$ $KLA-Tencor(KLAC)$

$Visa(V)$ $MasterCard(MA)$ $Fair Isaac(FICO)$ $MSCI Inc(MSCI)$ 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?$Salesforce.com(CRM)$ $Tyler(TYL)$ $Union Pacific(UNP)$ $Adobe(ADBE)$

Here’s a checklist of what I consider when analysing a company: Financial metrics - Return on capital - FCF per share growth - Margin expansion - Debt affordability Supply chain - Market growth rate - Market share growth - Cyclicality Pricing power / competition - Essential or discretionary? - Affordable? - Alternatives? Valuation - Priced in growth vs actual growth - Forward FCF yield What would you add? And， In year 1, you invest $100 and get a $40 return. In year 2, you invest $50 and get a $20 return. In year 3, you invest $25 and get a $10 return. In each year the return on capital is 40%, but the growth rate was -50%. That's why monitoring invested capital is important - compounding requires reinvestment. For SG users only, Welcome to open a CBA today and enjoy access to a trading li

Here’s a list of high quality financial market infrastructure companies. What would you add?— $MasterCard(MA)$ $Visa(V)$ $American Express(AXP)$ $Adyen N.V.(ADYEY)$ $Block, Inc.(XYZ)$ $Global Payments(GPN)$ $FISERV INC(FISV)$ $PayPal(PYPL)$ $Fair Isaac(FICO)$ $EXPERIAN PLC(EXPN.UK)$ $TransUnion(TRU)$

Here are three ETFs I would appreciate seeing in the market:1. An expensive company ETF - there are already "value" ETFs that hold companies with low multiples. But a low multiple is often because the market is pricing in less growth. A high multiple ETF should therefore hold companies that the market is pricing in strong growth.2. A business non-discretionary ETF - there are already consumer discretionary funds, but you're far more likely to find higher quality recurring revenue in companies selling essential products and services to other companies.3. A semiconductor equipment ETF - this would invest in companies like AMAT, ASML, Cadence, KLA, Lam, Synopsys and Tokyo Electron. Exposure to the infrastructure as a whole, rather than any one end-market, should hedge a lot of risk.What do yo