MELI 全部观点

Um, I'm a big fan of Mac Libra or we both are. Um, and the business model behind it.

Um, when you look at Mac Libra, they give you everything that you can wish for um, regarding to their loan book and all of that stuff.

whereas it used to be the same for MacB but then they push into new loans. Um that means the loans are are larger. The loans are not only for the next 12 weeks, but they're actually for the next 12 months. And all of that structurally increases the likelihood that some loans will fail.

Mercado Libre reached an important milestone surpassing $10 billion in revenue representing 50% year-over-year growth in its most recently completed quarter. Management recently implemented a new strategy lowering the threshold for free shipping adding convenience to consumers.

So when Mercado Libre started this strategy, I was optimistic that it would be successful because of what I've seen from Amazon and so far it has been successful with revenue increasing meaningfully.

So, with that, let's jump right into our first stock, which is going to be Marcato Libre, stock ticker Mi. This is a name that I've really liked and really started pushing back at the start of June when I published a video titled I'm buying every share I can. And in that video, I covered Marcato Libre.

This is one of those companies I think investors can easily misunderstand. People call Marcato Libre the Amazon of Latin America, and I understand the comparison. I often use it myself, but I actually think that underells the business because they often only speak of the e-commerce side of things when it comes to Amazon.

You know, the the two public market companies that come to mind when I hear this as loose parallels aside from Capital One and like, you know, the hey, is this Capital One in '94 or 2006 comps, the two that come to mind would be MELI, MELI, Mercado Libre, and Kaspi, K A S P I.

And I I MELI I think is a little bit of a different business. I think they have more retail focus as well, but they they do have a fintech segment here. And both have been kind of catnip for investors in a similar way to this, you know, you you can look at fund letters and people and I think smart investors there. And both haven't worked out as well as I think they would have, you know, both are still growing nicely, ROEs on both are nice.

Next, I have to highlight Mercado Libre. It's the best company in all of South America. It is very similar to Amazon, but that's also where a lot of investors get it wrong.

It is true that Mercado Libre is a massive retail business, but its biggest difference from Amazon is that while Amazon focused on cloud hosting and retail, Mercado Libre is focused on the financial aspect. And this is where this stock gets really interesting.

The megat trends are so attractive that Peter, the former CFO of Melly where he worked 25 years, actually left that job to join DLo as a CEO.

So if you just think about New Bank and Mac Libra which are two companies that we hold or own in our portfolio they offer credit cards and their credit cards for example run on Visa and Mastercard Rail.