ANALYSE THIS: Denker Capital’s Douw Steenekamp
We analyse Douw Steenekamp, global equity portfolio manager at Denker Capital
If someone came to you tomorrow with R100m to invest in just one company, which would it be? Taking a long-term view, I would invest the money in Microsoft. It has established a virtually unassailable global position in enterprise productivity and networking software, which has recently been augmented by the establishment of a leading position in the provision of cloud computing services to its enterprise customers. It has also recently managed to successfully migrate most of its customers from paying one-off licence fees for its products to paying an ongoing annual subscription. While none of this might sound as exciting as the sexy Internet stocks of today, the business is well established, profitable and cash generative. I’d sleep soundly knowing that my investment is steadily compounding away without having to worry about any of the unknowns that might still trip up some of today’s high flyers. Which talent would you most like to have? I would love to be able to play a musical i...
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