Dear members,

Replays from our tenth-annual European Investing Summit are now available. The event brought together great minds from the MOI Global community, with a focus on actionable ideas in Europe. Enjoy!

Selected presentations:

• AcadeMedia: Leading Education Company in Northern Europe

• EdiliziAcrobatica: Clear Competitive Advantage, Low Capex Needs

• Ferguson: High-Quality Distributor With Improving Business Mix

• Lanxess, Swatch, Holcim, Deutsche Bank: Investment Updates

• Lloyds Banking: Dominant UK Lender With Improving Outlook

• Mercedes-Benz: Global Leader in High-End Automotive Segment

• Merlin Properties: Iberian REIT Leader With Attractive Portfolio

• Patrizia: Capital-Light, Owner-Operated Real Estate Asset Manager

• Qiagen: Medical Diagnostics Leader With Long Growth Runway

• S&U: Well-Run, Family-Owned Specialist UK Lender at Discount

• Universal Music Group: World’s Largest Owner of Music Rights

Separately, if you can be in New York City on December 13, don't miss this year's Latticework summit! It is a wonderful opportunity to meet and interact with fellow members and featured speakers. Click here to register.

Have a great week!

John

Quote We Are Contemplating This Week

11 Articles We Are Reading This Week

1. Alien truth - Paul Graham

2. Consumer social - Rex Woodbury

3. Glass bead game - Rohit Krishnan

4. Doing everything - Ryan Holiday

5. Predicting growth - Greg Obenshain

6. Russia's reckoning - Kamil Galeev

7. Berkshire's financial history - Frederik Gieschen

8. Fisher's investment insights - Conor MacNeil

9. Developing dovish dissenters - Barry Knapp

10. Napier on financial repression - Mark Dittli

11. Greatest competitive advantage - Brent Beshore

Letters, Presentations, Writeups..

Industry Insights: AI | apartment rentals | batteries | crude oil | energy transition | high-speed rail | internet media | internet search | semis

Letters & Commentaries: Akre | Alphyn | Apollo Asia | DMZ | Ensemble | Giverny | GoodHaven | Greenlight | GVC | J.P. Morgan | Laughing Water | Merion Road | Newfound | RGAIA | Third Point | Tollymore | Tourlite

Company Writeups: Brenntag | Cano Health | Changan Auto | eDreams | IBKR | Microsoft | Mobileye | Nvidia | Thryv | TSMC | Value Partners | Wix

Company Slides: AA | AT&T | Bank of America | Blackstone | Crown Castle | CSX | Danaher | Dover | Dow | Equifax | Freeport | Goldman Sachs | J&J | Kaiser Aluminum | Lindsay | Manpower | Nestle | P&G | SVB | Tractor Supply

5 Podcasts We Are Listening to This Week

1. Straight Talk - Walter Isaacson on lessons from his books

2. Business Brew - Daniel Needham on multi-asset investing

3. Invest Like the Best - Paul Orfalea on his leadership style

4. Investing by the Books - Adam Mead on Berkshire's lessons

5. Behind the Balance Sheet - Carson Block on short selling

5 Videos We Are Watching This Week