Shooting fish in a barrel
Really enjoyed this one!
Awesome! We've enjoyed all the pieces you've put out as well. Thanks for the encouragement.
No problem. Keep up the great work! Always a great read to start the weekend
Thank you for this excellent article. I am not familiar with CME but after reading your piece,I plan on checking it out.
Have a great weekend, guys!
Thanks, PK! Glad you found the piece interesting. It's a pretty incredible company. We hope you enjoy your weekend too.
Thanks for sharing the latest Berkshire Beat! I really appreciate it!
Sharing your work is a no-brainer.
Thank you for writing great content. I always look forward to your content as I always learn something new from each one.
Chetan, thank you! Hearing that our pieces help you learn is so rewarding. 🙏
Great piece 6B team! Love the inflation hedge embedded in these exchange businesses.
That hedge is so real. Print more money…more money flows through exchanges…
I learned about the exchange business model from Horizon Kinetics / Murray Stahl. Really amazing stuff.
I think HK Exchange & Clearing was probably the best performing. From 10 HKD in 2001 to 500 HKD at its 2021 peak, 22% CAGR is crazy.
Michael, we agree, exchanges are baller. We hadn't looked at HK E&C before. Thanks for the introduction.
Really enjoyed this one!
Awesome! We've enjoyed all the pieces you've put out as well. Thanks for the encouragement.
No problem. Keep up the great work! Always a great read to start the weekend
Thank you for this excellent article. I am not familiar with CME but after reading your piece,I plan on checking it out.
Have a great weekend, guys!
Thanks, PK! Glad you found the piece interesting. It's a pretty incredible company. We hope you enjoy your weekend too.
Thanks for sharing the latest Berkshire Beat! I really appreciate it!
Sharing your work is a no-brainer.
Thank you for writing great content. I always look forward to your content as I always learn something new from each one.
Chetan, thank you! Hearing that our pieces help you learn is so rewarding. 🙏
Great piece 6B team! Love the inflation hedge embedded in these exchange businesses.
That hedge is so real. Print more money…more money flows through exchanges…
I learned about the exchange business model from Horizon Kinetics / Murray Stahl. Really amazing stuff.
I think HK Exchange & Clearing was probably the best performing. From 10 HKD in 2001 to 500 HKD at its 2021 peak, 22% CAGR is crazy.
Michael, we agree, exchanges are baller. We hadn't looked at HK E&C before. Thanks for the introduction.