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Third Quarter of 2017

On October 23, 2017, Posted by , in Quarterly Reports, With Comments Off on Third Quarter of 2017

This quarter, we reflect on incentives and its importance in looking for great companies as well as being a great indicator of companies to avoid. In the PIPA Prize section, we discuss even further the works of the four finalists for this edition.

Second Quarter 2017

On July 11, 2017, Posted by , in Quarterly Reports, With Comments Off on Second Quarter 2017

This quarter, we share our experience at the Challenges of Government Conference held at Oxford University.  Plus, we comment briefly about Western Union and Amazon’s offer to acquire Whole Foods. In the PIPA Prize section, we discuss the work of the 2017 finalists: Antonio Obá, Bárbara Wagner, Carla Guagliardi and Éder Oliveira….

First Quarter 2017

On April 18, 2017, Posted by , in Quarterly Reports, With Comments Off on First Quarter 2017

This quarter, we decided to focus on Amazon and share our take on its many divisions. Plus, our impressions during a field trip to California and some perspective around recent events. In the PIPA Prize section, we discuss some improvements to the Prize, the work of Arjan Martins and present texts…

Fourth Quarter 2016

On January 20, 2017, Posted by , in Quarterly Reports, With Comments Off on Fourth Quarter 2016

In this edition, we continue our discussion of AI and provide insight into our approach to investment research and what we call our Exo-Analysis Team. We also reflect on a couple of Technology events we visited. In the PIPA Prize section, the team looks at the results and outcomes of…

Third Quarter 2016

On October 10, 2016, Posted by , in Quarterly Reports, With Comments Off on Third Quarter 2016

This quarter, we elaborate on the view of investing as Art, the challenges of managing creativity and mental models. On the companies front, we discuss Amazon, Wells Fargo, Western Union and ABI InBev and SABMiller. In the PIPA Prize section, the team talks about accomplishments and incentives, their internal processes as…

Second Quarter of 2016

On July 11, 2016, Posted by , in Quarterly Reports, With Comments Off on Second Quarter of 2016

In this edition, we offer musings on a variety of themes, such as productivity, organic growth vs acquisitions, the digital disruption taking place in many industries, and some risks we find relevant. In the PIPA Prize section, we discuss our motivations behind the Institute and present the finalists of this…

First Quarter 2016

On March 1, 2016, Posted by , in Quarterly Reports, With Comments Off on First Quarter 2016

  This quarter, we explore mental models and share some of our experience of developing as investors and analysts. We also make some more directed notes on Amazon, Gold and Berkshire Hathaway.  

Fourth Quarter 2015

On January 1, 2016, Posted by , in Quarterly Reports, With Comments Off on Fourth Quarter 2015

  This quarter, we discuss a turbulent year in the macro environment, what that meant for our portfolio and review the concepts that will guide us going forward. We also look at some of the most relevant investment cases of 2015. In the PIPA Prize section, we talk about 2015’s…

Third Quarter 2015

On October 1, 2015, Posted by , in Quarterly Reports, With Comments Off on Third Quarter 2015

  This quarter, we discuss the tough and volatile period that markets faced, how we managed to stay afloat and, more importantly, how it gave us the opportunity to strengthen our portfolio for the long term. In the PIPA Prize section, we talk about some new establishments from the organizational…

Second Quarter 2015

On July 1, 2015, Posted by , in Quarterly Reports, With Comments Off on Second Quarter 2015

  This quarter, our focus is on the importance of discipline and execution. For that reason, we take an in-depth look into a company we have long admired: Danaher. We also comment on recent developments regarding Admiral and Amazon. In the PIPA Prize section, we talk about the changes and…