Value Investing in my Circle of Competence, Hurdle Rate

Hurdle Rate

The name “Hurdle rate” was inspired by none other than Mark Leonard of Constellation Software, and their prolific use of a fixed hurdle (discount) rate for their investments. Had you invested into Constellation Software at the time of their IPO as an Australian Investor you would of seen your investment multiply by >100x or (>35% CAGR), an enviable record (Updated March 2023).

Value Investing in my Circle of Competence

Equity Bottom-Up

<ul><li>ASIRO (TSE:7378) is an internet media business which predominately operates websites which match individuals with attorneys across the various areas of law, with each area being its own respective website.</li><li>The business has also expanded into more traditional media such as HR targeted at both lawyers and accountants.</li><li>The business also operates mainly through direct sales, which has created a rather significant barrier to entry due to the inability of an affiliate to even try to act as it breaches the Attorney Act in Japan.</li></ul>

ASIRO (TSE:7378) is an internet media business which predominately operates websites which match individuals with attorneys across the various areas of law, with each area being its own respective website.The business has also expanded into more traditional media such as HR targeted at both lawyers and accountants.The business also operates mainly through direct sales, which has created a rather significant barrier to entry due to the inability of an affiliate to even try to act as it breaches the Attorney Act in Japan.

ASIRO

Asiro (Tse:7378)