REPLAY: Wide-Moat Investing Summit 2023

Discover ideas at the eleventh-annual edition of this online conference, hosted by MOI Global.

Members enjoy complimentary and exclusive access.

Enjoy the wisdom, insights, and ideas of selected thought leaders:

Europe’s Higher Profitability Among Firms Trading at Deep Discounts

In today’s world of higher cost of capital, Europe’s cheap and profitable stocks offer an attractive place to earn more bang for your buck.

Dede Eyesan on His Research Report, Global Outperformers

Dede Eyesan of Jenga Investment Partners discussed his research book, Global Outperformers, at MOI Global’s Meet-the-Author Forum.

J.Dennis Jean-Jacques on Investing in Dislocations

Great ideas do not happen every day, every month, or even every year. When they do appear, it is best to have been actively preparing…

Brooks CEO Jim Weber on His Book, Running With Purpose

Jim Weber, long-time CEO of Berkshire Hathaway subsidiary Brooks Running, discussed his book, Running with Purpose.

What Higher Rates Mean for Housing and Mortgage Markets

Lloyds Banking Group trades under six times earnings and a ~20% discount to book value. We see this as worthy of attention.

Aswath Damodaran on His Book, Investment Philosophies

Professor Aswath Damodaran discussed his book, Investment Philosophies: Successful Strategies and the Investors Who Made Them Work.

Latticework 2022

In December, the MOI Global community — along with a group of leading investors and CEOs — explored investing amid inflationary pressures.

Replay the Sessions

Member-Only Podcasts

We are delighted to launch member-only podcasts, enabling you to listen to exclusive MOI Global audio content in your favorite podcast player.

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MOI Global en Español

We are proud to have built an active and engaged Spanish-speaking community of intelligent investors in Spain, Mexico, and beyond.

Visit MOI Global en Español

Wide-Moat Investing Summit 2023

Discover Great Instructors and Great Ideas

Latticework 2023

On December 12, members will meet at the Yale Club of NYC for the seventh-annual Latticework. The summit has been lauded as a uniquely impactful forum of great minds from the MOI community.

Speakers have included Charles de Vaulx, Tom Gayner, Howard Marks, Michael Mauboussin, Mohnish Pabrai, Tom Russo, Murray Stahl, Will Thorndike, Arnold Van Den Berg, and Ed Wachenheim.

Replay selected past sessions.

Ideaweek 2024

Ideaweek brings together inquisitive minds to explore ideas of consequence in investing, business, and life.

From January 22-26, invited members of the MOI Global community will meet in St. Moritz, Switzerland for a week of skiing, discussion, and friendship. The fourth annual Ideaweek is a showcase of ideas, a platform for great conversations, and an opportunity to catalyze relationships with like-minded individuals.

Read impressions from a past edition.

The Zurich Project 2024

From June 4-6, a select group of fund managers and founders will come together for the sixth edition of this invitation-only forum in beautiful Switzerland. Investors building firms for the long term share experiences, best practices, and ideas in an intimate private setting, far from the demands of day-to-day business.

The Zurich Project has received acclaim for its unique culture of respect, camaraderie, and honesty.

See a few impressions.

The Frankfurt Conversation 2024

In November 2024, invited members of MOI Global will meet in Frankfurt, Germany, for a day of wisdom and idea sharing.

The Frankfurt Conversation will address selected topics related to intelligent investing in Europe and beyond.

In the past, invited members engaged with European superinvestors Daniel Gladiš, Dr. Hendrik Leber, Guy Spier, and others.

Replay selected past sessions.

Dede Eyesan on His Research Report, Global Outperformers

September 26, 2023 in Audio, Equities, Explore Great Books Podcast, Featured, Full Video, Interviews, Meet-the-Author Forum, Member Podcasts

Dede Eyesan of Jenga Investment Partners discussed his research book, Global Outperformers, at MOI Global’s Meet-the-Author Forum.

Research director Alex Gilchrist hosts MOI Global’s Meet-the-Author Forum. The event brings together members and a select group of book authors in the pursuit of worldly wisdom. We are delighted to have an opportunity to inspire your reading.

The full session is available exclusively to members of MOI Global.

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About the book:

Since the creation of the first modern stock market in 1611, economies have developed marketplaces to buy, sell and invest in shares of companies that shape how the world functions. Technology and digitalisation meant financial institutions and investors no longer needed a physical space, paper or even their voice to trade these shares. The holding period of shares also decreased; once an eight-year average holding period is now only 5.5 months. Innovative trading strategies, access to leverage, passive investing and algorithms also play a much more significant role within capital markets and have many implications.

Despite the changes and progress we have experienced, some principles remained constant; future earnings and cash flows drive the stock market returns over the long term.

This research aims to examine history to understand what works and drives the best companies, by studying the past decade and assessing the companies that returned more than 1,000%. We then split our analysis into four parts. In the first part, we conducted a factor analysis via a quantitative top-down assessment of the 446 companies that returned more than 1,000%. Critical factors such as profitability, growth, multiples and size were studied to determine if there are contributing qualities or attributes among outperformers. The results in this section can help with your searching and screening process for future outperformers.

The second section examines the global outperformers from a geographical viewpoint. We split the world into 13 economic regions and assessed the macro and micro factors that may have driven their overall returns. Our approach in this section is more qualitative, and we focus on answering the big questions, such as why India has been the best-performing country since the start of the 21st century, why smaller populated countries like Israel and Sweden performed better than more populous countries or why Mexico was missing despite being the 15th largest economy in the world. The goal here is to enrich our perspectives of global investing and capital allocation from a geographic view.

The next chapter, which is the most extensive section, explores global outperformers from an industry lens. We divide the stock market into the 11 sectors (defined by Global Industry Classification Standard GICS) and investigate which sectors did better, why they did and what it means for future global capital allocation. We also included case studies of 26 companies analysing their respective business models, investment cases and lessons to be learnt about investing in outperformers. We added relevant snapshots of their financial statements and other metrics that provide an accounting perspective of investing in outperformers. As you will see, investment ideas came from unlikely areas like emerging market airports, South Korean music labels, Nordic farmers, and Greek energy companies. We explored each of these in the case studies.

Finally, we conclude our research by sharing ten lessons we learned from the overall study. Our goal is to be better investors of the future, not the past, and we review how the information and wisdom gained from the assessment of history can make us better investors for the future.

About the author:

Dede Eyesan founded Jenga Investment Partners during his second year at the London School of Economics (LSE). Since then, Dede has led Jenga from just an investment club to a UK-incorporated investment firm with a global mandate of investing on behalf of clients in listed companies. His passion for entrepreneurship and investing since his first stock purchase at age 10 led him to found Jenga. He manages the Jenga Global Fund and the client Separately Managed Accounts (SMA). Dede holds a BSc in Accounting and Finance from the London School of Economics and an MSc in Entrepreneurship from Bayes Business School, City University of London.

Highlighted Tweet by brendan_snow

February 11, 2023 in Twitter

Latticework 2022

On December 13, MOI Global members gathered at the Yale Club of New York City to explore intelligent investing in the context of a challenging market environment.

Members enjoy complimentary and exclusive access.

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