I recently got the chance to catch up with Jamie Ward, the investor, writer and author of the Wonder Stocks Substack.
Jamie’s work centres on identifying supernormal companies capable of sustaining compound growth and achieving long-term returns of 50x to 100x. His approach is heavily influenced by the investor letters of Nick Sleep of Nomad Capital, which emphasised that stock selection transcends basic numerical analysis.
The primary objective of Ward’s methodology is to identify Wonder Stocks, companies positioned to thrive even in environments of radical uncertainty.
We discussed in some detail the bull cases for two UK-listed entities, Frasers Group and Wise, as practical applications of the Wonder Stock framework.
We also discussed Jamie’s thoughts on the investment landscape, in particular, the impact of passive investing on the market’s ability to price risk. Jamie characterises passive as a parasite on active investing, and one that has now taken over the host.
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Thanks
Jeremy
