Aman Budhwar of PenderFund Capital Management presented his investment thesis on Taiwan Semiconductor Manufacturing Company (US: TSM) at Wide-Moat Investing Summit 2023.

Thesis summary:

Founded in 1987, TSMC pioneered the pure-play foundry model and today is the world’s leading and most advanced semiconductor foundry. The company operates numerous cutting-edge fabrication plants in Taiwan as well as advanced packaging facilities around the world and is in the process of investing in fabrication plants in the US and Japan.

TSMC’s innovative technologies and manufacturing prowess have enabled it to forge strategic partnerships with leading semiconductor designers, including major global technology companies. Renowned for its commitment to research and development, TSMC continuously pushes the boundaries of semiconductor technology, offering state-of-the-art processes that enable the production of high-performance, energy efficient chips.

With its strong market position and focus on innovation, TSMC is a key beneficiary of long-term trends driving growth in the semiconductor industry, including 5G, artificial intelligence, and the accelerating digital transformation.

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

Members, log in below to access the full session.

Not a member?

Thank you for your interest.  Please note that MOI Global is closed to new members at this time. If you would like to join the waiting list, complete the following form:

About the instructor:

Aman Budhwar joined Pender in February 2022 as an Associate Portfolio Manager. He is passionate about capital markets and has over 25 years of experience in the field of global and emerging market equity research, analysis and stock-picking. Prior to joining Pender, Aman held Senior Equity Analyst positions at leading Canadian fund and asset management firms. Prior to that, he began his career as an Investment Correspondent for India’s leading business daily, where he wrote full-page cover pieces that helped establish a loyal readership. He also worked with a domestic stockbroker in Mumbai before immigrating to Canada in 2001.

Throughout his career, Aman has pursued investment opportunities with a long term, differentiated view. He takes a methodical approach to investing and likes to assess both the potential bull and bear cases as well as the probability of each before committing capital to an investment. Over the years, he has developed a process to help identify long term compounders by focusing on key attributes such as a sustainable competitive advantage, high returns on capital, and an attractive free cash flow yield.

Aman holds a Bachelor of Commerce from Garhwal University in India and an MBA from the Institute of Management Technology in India. He earned his Chartered Financial Analyst (CFA) designation in 2004. In his free time, he enjoys an active lifestyle, traveling and spending time with his family.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.