One reason we look for great managers is because they frequently surprise on the upside by extending growth runways and increasing business durability, which ultimately leads to greater value.

Last week we had a sendoff for one of our colleagues, Ong, an equity analyst originally from Thailand, relocating to our Singapore office. Ong received a gift bag of “Canadiana” gear which included a hockey jersey and a hockey puck.

A few weeks ago, I was introduced to Google’s Toothbrush Test. Contrary to the images that the name inspires, this test does not involve sticking a web-enabled toothbrush into your mouth to collect data on your molars.