The Luxury Flywheel: Part 3
An overview of China's rise, the GFC, China's dominance and the Chinese corruption crackdown.
Latest
Update: HEICO (HEI / HEI.A)
Update on Q2 F2025 results
Update: Diploma (DPLM)
Update on H1 2025 results.
The Luxury Flywheel: Part 2
A deep dive on luxury's emergence from serving Europe's ultra wealthy to Japan's boom and bust. This article sets the stage to better understand China as luxury's key market and growth driver.
The Luxury Flywheel: Part 1
In this post, I describe the luxury flywheel and the 5Ps of luxury.
Deep Dive: HEICO (HEI / HEI.A)
HEICO is a serial acquirer of nice aerospace and electronic components businesses run by exceptional owner/operators.
What is The Gorilla Game?
In this journal, I post deep dives on companies I believe can either become Gorillas or are already Gorillas.
Update: Judges Scientific (JDG)
Mark Lavelle (COO) is retiring in September 2026
Deep Dive: Reply SpA (REY, REY.MI)
Italian IT-services serial acquirer with unique organizational model and culture
Primer: I.T. Services Industry
Deep dive on the IT Services Industry
Deep Dive: Diploma plc (DPLM)
Serial acquirer of niche distribution businesses
People Businesses
How can "people" or "culture" be a moat?
Serial Acquirer
Deep Dive: Judges Scientific plc (JDG)
Serial acquirer of niche scientific instruments businesses