NED Index - Stock #6
Dominant, Predictable, Cash-Flow Generative.
The No-End Dividend is a celebration of long-term investing.
In the NED, I give myself the advantage and space to think about businesses over years — musing on how they can create value for the longer term.
And so quarterly earnings don’t phase us, market narratives don’t bother us and we don’t care much what analysts say.
On the contrary, what we do care about is optimising Price-to-Intrinsic Value — I made a video talking about this on our Youtube. VIDEO.
In the NED we not only look for safety and predictability, but also upside. In investing you can have your cake and eat it too.
We shared the first four NED names publicly but from the fifth addition onward, the index is exclusive to subscribers. Here are the first four names we added. You can find them all here.
Fever-Tree
Ball Corporation
Jumbo
Greggs
3 of them are already up double digits while Ball Corp. is just breaking even for now. Last week we added NED #5, an interesting retailer that is growing internationally while working to make its operations more efficient — resulting in higher margins across the board.
Today we are adding NED #6, a 200-year old beast that funny enough still has room to grow. It definitely ticks the NED boxes: simple, predictable, cash-flow generative with dominant characteristics and optionality to grow.
So without further ado, let’s jump right in…