Companies · Jun 2024 
Sofia Reinholt · 4 min read Letters · Mar 2024 
Eleanor Vance · 5 min read Companies · Jan 2024 Sofia Reinholt · 4 min read Philosophy · Dec 2023 
Marcus Idowu · 4 min read Companies · Sept 2023 Marcus Idowu · 4 min read Markets · Jun 2023 Sofia Reinholt · 4 min read Notes · Apr 2023 
James Okonkwo · 4 min read Markets · Mar 2023 Sofia Reinholt · 3 min read Companies · Jan 2023 Sofia Reinholt · 4 min read
Pricing power, and how to spot the real thing
Everyone claims it. Very few have it. Here is how we test for it.
Sofia Reinholt · 4 min read Letters · Mar 2024 The drawdown diaries: 2020, revisited
What we did in the spring of 2020, and what it told us about our partners.
Eleanor Vance · 5 min read Companies · Jan 2024 Why healthcare, and why slowly
Demand we can predict ten years out, in businesses that must prove what they sell.
Sofia Reinholt · 4 min read Philosophy · Dec 2023 Concentration is a feature, not a risk
We hold eleven businesses, not a hundred. On purpose.
Marcus Idowu · 4 min read Companies · Sept 2023 Meeting management: the questions we actually ask
Less about strategy, more about character and how people get paid.
Marcus Idowu · 4 min read Markets · Jun 2023 The tyranny of the quarter
Ninety days is an accounting period. Nothing in a real business runs on it.
Sofia Reinholt · 4 min read Notes · Apr 2023 On succession, ours and theirs
A firm built to last has to answer the question every family business does.
James Okonkwo · 4 min read Markets · Mar 2023 The myth of the catalyst
We're often asked what will make a holding work. Usually the answer is time.
Sofia Reinholt · 3 min read Companies · Jan 2023 Buybacks: the good, the lazy and the destructive
A buyback is a capital allocation decision, and most are made badly.
Sofia Reinholt · 4 min read