Like finding a really good coffee, finding a good long-term investment opportunity is not always easy. A coffee that looks delicious may taste foul, and there is no guarantee that paying more will deliver a better brew. When stripped to the essentials, however, there are really only a few elements to consider: the shot of espresso, the steamed milk and the layer of froth. And the same thinking underpins our approach to investing. As bottom-up investors we are obsessively focused on how the component parts blend together, because that, along with the price, will determine whether the drink (stock) you're buying is strong and satisfying, or a weak frothy mess.
Harish Karhade, from our offshore partner Orbis, makes the contrarian case for US telecommunications company Comcast, expertly separating the froth from the fundamentals. In Comcast, Orbis thinks it has found a strong, well-balanced blend – something the rest of the market may not yet have discovered. Watch this 5-minute video to learn more.