Target: Go Daddy
Year: 2019
Firm: 
Source: Link
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Business Summary
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Key Trends
[General to the market discussed and relevant but not the investment thesis per se]
Investment Thesis
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Key Takeaways
- Fact checked their prediction that GoDaddy could compound 20% annually and found that GoDaddy has appreciated 21% in the past year
- Found the idea of business model arbitrage really interesting, it would be cool to explore how to apply this strategy with other stocks
- The playbook for companies in a fragmented market selling commodities: find a way to cut costs -> reinvest in advertising to scale up -> use scale to invest in moats that are not accessible to smaller companies
- "Multiples do not embed expectations of future acquisitions"
Investment Memo Tips & Tricks
[Stylistic components of the model, good learnings for when you write your own]