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No. of Recommendations: 36
In my view the company continues to execute exceptionally well in a challenging area with a massive total addressable market that includes a growing middle class. Their stated goals are to Democratize Commerce and Generate Financial Inclusion. They are succeeding admirably in ways that have wide benefit for both shareholders and customers where they do business. They were recently ranked one of the best companies to work for anywhere in the world. Shares have appreciated ~130% in the past year, but I suspect we may look back a few years from now and think they were still cheap now. Looking forward to kicking the tires with this group.

Regards,

Dorset


It's one of my largest positions. It's dominant competitive position, widening moat and massive, growing TAM with minimal penetration at this time makes it a long term investment for me.

I'm puzzled why ecommerce has not been more popular here. AMZN's too big for our hyper growth preferences but continues to deliver strong growth. Smaller emerging players like SE, MELI and SHOP all continue to excel. Even ecommerce related stocks like PINS and SNAP are breaking out. Although out of bounds here, China offers a few big winners as well.

The acceleration from the pandemic should subside and valuations might contract but these seem to be lasting winners.

Dave
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