Yeah. I read financial statements for living as a tax auditor. The quality of the numbers is an issue because record keeping in foreign countries is not as solid as in the U.S.
Just like in Asia, the operational environment and consumers are very different in the U.S. and Europe. MercadoLibre has a thorough understanding of the consumer in these regions and has the brand name.
Also, its logistics network gives it a significant edge, especially in a region where these networks tend to be less optimal for third parties. As a result, Amazon finds it hard to compete here, especially with MELI investing heavily in its own delivery network.
Great analysis. Meets my criteria too when it comes to ROIC and earnings growth but it isn’t U.S. headquartered.
Thanks! Being U.S.-headquartered is a hard requirement for you?
Yeah. I read financial statements for living as a tax auditor. The quality of the numbers is an issue because record keeping in foreign countries is not as solid as in the U.S.
Ah, yes, I understand. And you are right; record keeping can be a bit poor sometimes.
Great article Daan. From a quality point of view I prefer SHOP, but MELI is valued very nicely
thank you so much
Thank you for the deep dive😊
Meli is already my biggest position.
A second position I have Kaspi.kz with a very good growth and an amazing dividend.
Did you look at it already?
Thank you, Pat! I have not yet taken a close look at Kaspi, but I will do so! Thank you for the idea
Nice work Daan 👍
Thank you!! I appreciate the comment.
Great deep-dive!
Thank you!!
Your intrigued me. I'll take a closer look. What makes them so different in Latin America? What keeps Amazon from not trying its hand there?
Just like in Asia, the operational environment and consumers are very different in the U.S. and Europe. MercadoLibre has a thorough understanding of the consumer in these regions and has the brand name.
Also, its logistics network gives it a significant edge, especially in a region where these networks tend to be less optimal for third parties. As a result, Amazon finds it hard to compete here, especially with MELI investing heavily in its own delivery network.
Amazing write up. Well done. Looking forward to your view on Paypal ☺️
Thank you! PayPal seems to be the most popular, so next on the agenda for Sunday.