Moats & Multiples
Welcome to Moats & Multiples! This page is dedicated to the gods of compound interest and the businesses which make it happen. Follow my twitter to stay in touch! @moats_multiples
| Platform |  | Pricing | Only free issues | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 13 | Founded | 2 years ago | Last Issue | 2 months ago |
| Active | |||||
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moatsandmultiples.substack.comLatest Issues
Uber – The Toll Booth in an Autonomous World
In 1953, American Airlines president C.R. Smith boarded a flight and happened to sit beside an IBM salesman named Blair Smith. The conversation that followed would change the economics of air travel.
American was buying increasingly sophis...
Chris Hohn Gave Up on This Stock After a Year. I Think He's Wrong.
So, you really enjoyed reading my last article on TCI? Well buckle-up, I’ve got another one for you.
This time, I got my hands on TCI’s June 2026 update and whilst there have been very minimal changes to the portfolio, the one notable exit...
Terry Smith Just Broke His Own Golden Rule
Oh boy, where do I begin?
For those of you who haven’t read Fundsmith’s semi-annual letter, I suggest you do so before reading the rest of this post. For those unfamiliar with Fundsmith, it is one of the UK’s largest and most successful lo...
Spotify – When Does the Music Stop?
I recently had lunch with a former colleague of mine and, naturally, we got into a sparring match about stocks (we’re still friends, I think). The one company on which we had a rather robust discussion was Spotify. I’m quite bullish on the...
The Information Trap – Why the Edge is Judgement and Time
When the Wright Brothers first took to the sky in 1903, few could fathom that before the end of the century, air travel would be at scale, safe, and accessible for a significant proportion of the human population. From the basic biplanes po...
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