Block Inc was recently the subject of a short report from Hindenburg Research, which - amongst several other claims - allege that Block is lax in its procedures regarding user identification and...

Having looked backward to understand how Block grew Square into a US$150bn payments business (part one) and applied these learnings to scale Cash App into an 80 million US consumer fintech (part two...

Scaling Square from inception to a US$150bn payments business with multiple layers of protection wrapped around its profitability was only part one of Block’s success story. Below we explore how...

At ECP, we spend a lot of time researching exceptional businesses, looking for rare combinations of competitive advantages that create conditions where strong profitability can be protected and...

Inflation, long-term bond yields and growth stocks are front of mind for many investors. We believe concerns of rising discount rates impacting present day valuations need to be weighed in...

Networks are one of the most powerful competitive advantages a business can possess. Strong network effects make it difficult for businesses to be replicated, enabling long-term pricing power....

We have a saying at ECP, ‘sleep well before eating well’. As a high conviction fund manager with a focus on capital preservation, we need to sleep at night knowing our portfolio companies have...

Enterprise software is in the midst of a structural shift toward cloud-enabled platforms. In-house systems, localised IT teams, unsupported third-party software, and expensive solutions by incumbents...

Afterpay’s competitive differentiation underpins a sustainable business model that we expect will continue to drive its market share growth in the US. Visa’s recent announcement will not impact...

Challenger Limited (ASX: CGF) is a quality franchise, but one that is not without risk. At ECP we are constantly revisiting previous investment ideas as the modern business environment is constantly...