Business Breakdowns
· Markus Hansen, Matt Reustle
I'm in New York, I mentioned PriceSmart. Big smiles, oh, my mother shops there. One thing I love about research is the anecdotal side. And with retail, It's great to do that. I mentioned how when I first went to Casey's, I went out, checked it out, took my son along. Actually, he's my test bed. Was out there playing hockey with his hockey buddies. Try the pizza, tell me what you think. Loved it. So feedback, yeah, good. Now they're doing chicken wings. He talks about it too. So you understand that, particularly with something like retail which is consumer touching, that core word of mouth marketing can be the most important thing. Above and beyond actually the product. And that still is very important. This is an area which, until we have robots going and doing the shopping for us, I know we have e-commerce, at the end of the day, most of us still like to go shopping to the supermarket. It's an event we do with families. This continues to be a key area where product, good quality for value, and yeah, look, supermarkets will still be around for a long time. Club stores are amazing. These are the kind of things I think you can tie in with just your daily life as well. So this is, who's the – I forget the name of the guy at Fidelity. [00:00:00] S0: Peter Lynch.
· Matt Reustle, Markus Hansen
[00:00:00] S0: Peter Lynch. [00:00:00] S1: Yes, Peter Lynch. It doesn't always work with everything, but this is one way you can experience the product, understand it, and start to see how it works. I think this falls in that remit. And like I said, this is an interesting one cuz I love learning about new countries, all the countries they're in. There's a lot, we know the names. I think a lot of people, for instance, after our conversation, will maybe go and check out Colombia. Colombia is a very dynamic economy, come a long way. Argentina used to be the big dog, and Venezuela. These guys are really developing. So it's pretty amazing. And so learning that, and if you go as a tourist, you'll see these things. It is interesting to see there is another part of the world. So we are big fans of global investing, international investing, looking for great opportunities that are similar to the great US peers. The US market's great, but there's other opportunities out there which mimic what we see in the US, and sometimes you can find them at valuations which are even more appealing. So adding that to your diversified portfolio is a great long-term compounder as well. [00:00:00] S0: I love it. This has been a pleasure again, Markus. I appreciate it and enjoy these conversations quite a bit. So thank you very much for your time and coming on. [00:00:00] S1: Thank you for having me, and it's always great. Thank you, Matt.