February Strategy Update



Dear investors and well-wishers,


We recorded a strategy update with topics and timestamps below, and are now accepting applications on a weekly basis.


Best regards,

Michael

Timestamps

1:27 – Overview of investment strategy

2:10 – Love, explosive growth, Apple and Tesla

4:32 – Customer love: how we measure it

6:03 – Our long-term goals

6:50 – How can a company lose money and create value?

8:31 – Xero: A case study

10:30 – Square’s return on $32m of marketing

11:28 – The Amazon example

12:02 – What happened if you overpaid for Shopify or Afterpay a few years ago?

13:14 – Why you have to be on the right side of these shifts to perform

15:17 – Question: Do we still own Alteryx?

15:54 – Question: Thoughts on Fiverr and Upwork?

16:17 – Question: Our view on cryptocurrency?

18:20 – Question: How do you stay on top of 50 companies in your portfolio?

19:33 – Question: What are our thoughts on big tech?

21:38 – Question: What do we think of rising interest rates and inflation?

23:20 – Question: What scenario causes you to lose faith in a stock? 24:42 – Question: Do you have a view on the Australian dollar?

26:13 – Question: What is your view on using leverage in equity investing?

26:57 – Question: How much cash do you hold?

28:05 – Question: Are you still looking at daily liquidity for the fund? (We are now accepting weekly applications)

28:23 – Question: Views on Redbubble?

29:13 – Question: How do we model companies?

30:53 – Question: Will the fund look to make a distribution?

31:27 – Question: What is the outlook from here?