--- title: Our Insights | Sam Byrnes description: Sam is a CFA Charterholder. Prior to joining the team at ECP, Sam spent 8 years at Bell Potter Securities as a Small Caps Research Analyst. While Sam's coverage was generalist his focus has been on industrial and cyclical companies. When Sam’s not crunching numbers you can find him skydiving, skiing or surfing! --- - About: - [Philosophy](https://www.ecpam.com/philosophy) - [Performance](https://www.ecpam.com/performance) - [Team](https://www.ecpam.com/team) - [Sustainability](https://www.ecpam.com/sustainability) - [Insights](https://insights.ecpam.com/) - Invest: - Australian Equities - [ECP Growth Companies Fund](https://www.ecpam.com/growth) - [ECP Emerging Growth Limited](https://www.ecpam.com/emerging) - [Contact](https://www.ecpam.com/contact) - [Philosophy](https://www.ecpam.com/philosophy) - [Performance](https://www.ecpam.com/performance) - [Sustainability](https://www.ecpam.com/sustainability) - [Team](https://www.ecpam.com/team) - [Insights](https://insights.ecpam.com/) - Invest: - [Unlisted](https://www.ecpam.com/growth) - [Listed](https://www.ecpam.com/emerging) - [Contact](https://www.ecpam.com/contact) ## ECP Insights A selection of articles written by our team to give insight into how we think about the world [subscribe](https://share.hsforms.com/1VGopDBb-SBq8Eapqpff46Qbludr) ![image description](https://insights.ecpam.com/hubfs/img5.png) ## Articles - [LATEST](https://insights.ecpam.com) - [Portfolio](https://insights.ecpam.com/tag/portfolio) - [Philosophy](https://insights.ecpam.com/tag/philosophy) - [Process](https://insights.ecpam.com/tag/process) - [Sustainability](https://insights.ecpam.com/tag/sustainability) - [Blog](https://insights.ecpam.com/tag/blog) [![A Journey Through America's Healthcare and Socio-Economic Landscape](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-19-2.svg)](https://insights.ecpam.com/a-journey-through-americas-healthcare-and-socio-economic-landscape) ## [A Journey Through America's Healthcare and Socio-Economic Landscape](https://insights.ecpam.com/a-journey-through-americas-healthcare-and-socio-economic-landscape) Dec 07, 2023 3 minute read Our recent excursion across the United States offered us a unique perspective on the intricate dynamics of the healthcare industry and the socio-economic fabric of the country. Spanning five cities... Read full [article](https://insights.ecpam.com/a-journey-through-americas-healthcare-and-socio-economic-landscape) [![Conquering Confirmation Bias](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-24.svg)](https://insights.ecpam.com/conquering-confirmation-bias) ## [Conquering Confirmation Bias](https://insights.ecpam.com/conquering-confirmation-bias) Feb 07, 2023 5 minute read Investing involves both art and science. The science aspect includes analysing a company's strategy, industry position, competitive advantage, future opportunities, and risks to determine its... Read full [article](https://insights.ecpam.com/conquering-confirmation-bias) [![CSL M&A: History repeating](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-14-1.svg)](https://insights.ecpam.com/2022/04/01/csl-ma-history-repeating) ## [CSL M&A: History repeating](https://insights.ecpam.com/2022/04/01/csl-ma-history-repeating) Apr 02, 2022 6 minute read CSL has demonstrated a clear Dynamic Capability over time that has crossed both Plasma and Influenza markets. It has form in creating a sustainable competitive advantage by combining product... Read full [article](https://insights.ecpam.com/2022/04/01/csl-ma-history-repeating) [![IDP Education](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-27-1.svg)](https://insights.ecpam.com/2021/08/04/idp-education) ## [IDP Education](https://insights.ecpam.com/2021/08/04/idp-education) Aug 05, 2021 6 minute read IDP Education is a business with a strengthening competitive advantage that we added last year during COVID-19. In this article, we explore the emerging characteristics of its business model that... Read full [article](https://insights.ecpam.com/2021/08/04/idp-education) [![Xero, a Beautiful Business Model](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-26.svg)](https://insights.ecpam.com/2020/10/07/xero-a-beautiful-business-model) ## [Xero, a Beautiful Business Model](https://insights.ecpam.com/2020/10/07/xero-a-beautiful-business-model) Oct 08, 2020 7 minute read At ECP, we continually assess the quality and the sustainability of our investments to evaluate the strength of their competitive advantage through time. Xero is a notable portfolio company which... Read full [article](https://insights.ecpam.com/2020/10/07/xero-a-beautiful-business-model) [![Xero needs to Square up!](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-25.svg)](https://insights.ecpam.com/2019/10/13/xero-needs-to-square-up) ## [Xero needs to Square up!](https://insights.ecpam.com/2019/10/13/xero-needs-to-square-up) Oct 13, 2019 4 minute read Xero is the classic disruptor. As the first cloud-based accounting platform for small business, it revolutionised the industry with real-time bank feeds, the single source of truth general ledger and... Read full [article](https://insights.ecpam.com/2019/10/13/xero-needs-to-square-up) [![‘Rational’ Exuberance](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-14.svg)](https://insights.ecpam.com/2019/04/08/rational-exuberance) ## [‘Rational’ Exuberance](https://insights.ecpam.com/2019/04/08/rational-exuberance) Apr 09, 2019 8 minute read Last month, I was sitting in a hotel lobby (actually the bar) in Amsterdam after attending the International Plasma Protein Conference. I started talking with a fellow attendee who is a Patient... Read full [article](https://insights.ecpam.com/2019/04/08/rational-exuberance) [![Keep it simple stupid](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-26.svg)](https://insights.ecpam.com/2019/01/30/keep-it-simple-stupid) ## [Keep it simple stupid](https://insights.ecpam.com/2019/01/30/keep-it-simple-stupid) Jan 31, 2019 5 minute read Since the beginning of my investing career, I have always believed in only investing in what makes sense \[I know, thanks for stating the bleeding obvious Sam, here we were investing in stuff that... Read full [article](https://insights.ecpam.com/2019/01/30/keep-it-simple-stupid) ## Featured Articles [![ECPAM Insights Listing Page](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-16-2.svg)](https://insights.ecpam.com/long-live-software-part-ii) ## [Long Live Software: Part II](https://insights.ecpam.com/long-live-software-part-ii) Read full [article](https://insights.ecpam.com/long-live-software-part-ii) Feb 18, 2026 5 min read [![ECPAM Insights Listing Page](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-19-2.svg)](https://insights.ecpam.com/long-live-software-part-i) ## [Long Live Software: Part I](https://insights.ecpam.com/long-live-software-part-i) Read full [article](https://insights.ecpam.com/long-live-software-part-i) Feb 17, 2026 4 min read [![ECPAM Insights Listing Page](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-12.svg)](https://insights.ecpam.com/psych-test-your-investment-manager) ## [Psych Test Your Investment Manager](https://insights.ecpam.com/psych-test-your-investment-manager) Read full [article](https://insights.ecpam.com/psych-test-your-investment-manager) Jul 18, 2024 9 min read [![ECPAM Insights Listing Page](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-27.svg)](https://insights.ecpam.com/artificial-intelligence) ## [Real returns from Artificial Intelligence](https://insights.ecpam.com/artificial-intelligence) Read full [article](https://insights.ecpam.com/artificial-intelligence) Nov 23, 2023 3 min read ##### Find out more - [Philosophy](https://www.ecpam.com/philosophy) - [Performance](https://www.ecpam.com/performance) - [Sustainability](https://www.ecpam.com/sustainability) - [Team](https://www.ecpam.com/team) - [Insights](https://insights.ecpam.com/) - [Invest: Listed | Unlisted](https://www.ecpam.com/emerging) - [Contact](https://www.ecpam.com/contact) - [Disclaimer](https://www.ecpam.com/disclaimer) - [Privacy](https://www.ecpam.com/privacy) ##### ECP Office Level 4, The Pavilion 388 George Street Sydney NSW 2000 T [+61 2 8651 6800](tel:+61%202%208651%206800) ##### Please note The information provided for you by ECP ASSET MANAGEMENT PTY LTD, ACN 158 827 582 (Corporate Authorised Representative 441986 of AFSL 421704). 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