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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Other holdings such as American Express, Constellation Software, Heico, Kinsale and Mastercard continue to generate strong results yet have negative stock returns for the year-to-date through September. We made a...
— David M. Poppe
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Other investors who've written on American Express Company
American Express is a premier global financial services and payments corporation renowned for its high-end consumer and corporate credit cards. Oakmark established a...
The manager argues that fears of AI disrupting payment card networks are overblown. Card networks possess...
Giverny established a new position in American Express following a 25% price drop, using proceeds from the sale of Ametek. The manager values...
More institutional theses from Giverny Capital Asset Management
To cite one extreme example of a stock that has become decoupled from business results, Charles Schwab stock is flat for the year even as its earnings are expected to grow 30% this year and another 25% or so next year. The stock trades...
The hyperscale data center builders like Google, Meta, Microsoft and Amazon have huge cash flows and enthusiastic markets for their stock or debt. Yes, their capital...
We put our proceeds from Builders plus a little cash into a new investment in Amazon. Since I promised...