“I’m a person who likes to let the results speak for themselves.” Allan Gray Last month, we began our three-part briefing on unsung investment heroes who have a significant impact on how we invest and operate at Jenga. Allan Gray Investors familiar with the Southern Africa public markets will be aware of AG (Allan Gray),...Read More
“I can do what anyone else can, just a little differently.” Laura Sloate In our journey to becoming better investors every day, we often seek to learn from the many investors who have established world-class track records over decades. Investing is a continuous journey of learning and unlearning things about the world while aiming to...Read More
Executive Summary Global equity investors have been hit with a reality check as companies and nations deal with the effects of (1) the supply chain crisis, (2) inflation, (3) the great resignation impact on labour wages and more recently, (4) conflict in Eastern Europe. The MSCI World Index saw its worst start since the financial...Read More
Medifast has delivered a successful turnaround of the OPTAVIA franchise and has exceeded initial growth expectations. While its competitive advantages might be unclear to some, Medifast is our top choice in our health and wellness theme among global peers. OPTAVIA stands out from other weight-management kit companies due to the ‘Habits of Health Transformational System’,...Read More
Betterware de Mexico is a high-growth home organisation company in Mexico with a direct-to-consumer sales approach. Betterware manufactures and sells home organisation products across six core segments with Kitchen, Homeware, Bedroom representing 69% of total revenue. Since acquiring the Mexican operation, Luis Campos, the current chairman has achieved an astounding 23% and 27% revenue and...Read More
The Israeli high-technology medical devices and equipment industry has produced a few success stories, with InMode now leading this sector. We believe InMode is a high-quality aesthetics device company with industry-leading results. As of its last quarterly update, Q2 2021, InMode had three segments Minimally-Invasive (70%), Hands-free (23%) and Noninvasive (7%). -% of revenue sales. ...Read More
For the first full year, the Jenga Global Strategy returned (+27.3%) and outperformed the FTSE All-Share Index (+22.5%), MSCI World Index (+23.0%) and the S&P 500 Index (+23.0%) in British pound sterlings (£) and dividends included. In the report below, we share the portfolio update and commentary on markets and businesses we invested in. Jenga...Read More
Over the past few weeks, the Jenga team studied civilisation and how humans transformed from the industrial revolution to the computing age. The mid-1700s to the early 1900s brought great insights into the evolution of businesses, capitalism, and technological advancement’s impact on western society. Our report below merges a descriptive and analytical lens to infer...Read More
The sudden explosion of fintech activity amid the covid-19 pandemic has set in motion a digital transformation in Latin America. Until recently, legacy players such as Brazil’s Itaú Unibanco and Mexico’s Grupo Financiero BBVA have enjoyed a lack of competition. Colombia has only 25 banks, compared to the thousands of banks in the United States....Read More
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