Archive of stock write-ups from 2024

This newsletter is now discontinued. The publication archives remain available.

International all-cap stocks

The write-ups were intended to be deep dives into companies I viewed as worth following for the longer term. As ‘initiations of coverage’ they should have a decent shelf life.

I wanted to range widely by sector, country and size, reflecting the huge universe that I had the privilege of covering as an international small cap manager.

Nothing here is investing advice.

Discontinued

Due to a return to full time employment, no further posts will be published and no updates will be provided.

I am extremely grateful for the support I received from all the subscribers, and especially from other Substack writers who kindly shared my work. Please feel free to remain in individual contact via email or LinkedIn.

Who read Sweet Stocks?

There were c.2,600 subscribers as at March 2025 when the blog was discontinued. The readership comprised a healthy mix of investment professionals from every kind of buyside setting around the world, along with readers from the sellside, corporates and private investors.

What did subscribers say about Sweet Stocks?

“It’s institutional-grade research in a digestible format.”

“Makes me look again at stocks I had decided against.”

“In-depth analysis with real understanding of the business and its commercial drivers.”

“Very in-depth analysis and easy to digest.”

“In depth analysis written with minimal technical jargon.”

“I like everything, your analysis is solid, the different stocks and sectors and countries you cover - it's just all done very well. Thank you for your work.”

“The depth of analysis is superb. Far better than the average Substack. You focus on both the qualitative and quantitative aspects of the business which is much appreciated. You also provide excellent context with detailed peer reviews. The back story is also so important as is the pedigree of the CEO. Great work!”

“The fact that you sometimes do the work and openly say it’s not the right time or price to do something on the name is a good thing. That’s reality. Most of the time, there’s nothing to do, yet your work helps to prepare for when an idea might become actionable. I know that for some (more trading orientated people) this is a problem. But it’s very good the way you handle this.”

“A perspective I just don't see with the sellside notes / the history aspect is v. helpful for the DNA of the corporates”

“Your Goodwin note was truly a first, and great at concisely summarising their multiple different businesses - and although I have owned and followed it closely for several years, I learned some new things. Your note and the company are both top quality!”

“Great, engaging and concise writing and deep + relevant research - and the ideas seem mostly quite attractive, too.”

“Unlike other analysts, you aren't pitching a narrative (most of the time a false narrative). Instead you focus on what really matters. This is rare. The content is very well written, you express your thoughts well and it remains easy to read.”

“Interesting set of companies: big enough to be investable, small enough not to be covered by dozens of other writers.”

“Very detailed and informative write ups offering an interesting perspective. Good detail on numbers and quality metrics.”

“In-depth, long-form, fundamental approach is refreshing”

“You're looking into stocks that are talked about less which brings a useful alternative perspective”

“Insightful analysis, out of the box ideas, very digestible and interesting.”

“Coverage of global small-caps that I wouldn't have otherwise heard of. I also like the depth of the analysis - it’s the perfect mix of being detailed and concise. It makes it quite easy to digest and fit into my day.”

“Unique perspective on companies I “know of” but don’t actually know”

“Detailed stock analysis which to me serves as a best practice example of how it should be done. I also like the variety of stocks covered.”

“The write ups are more in-depth than the usual Substack offerings. I also like that your posts give some of the history of the company which gives me the opportunity to get a feel of where the company sits in the economy and vis its competitors.”

“In depth analysis that’s quite different to the other articles I read”

“Independent view of Japanese small cap stocks, often ones we know but might not have looked at for some time”

“Nice investment ideas of profitable but undiscovered companies.”

“Buyside brain, blitzing one stock in depth with no ‘paid’ agenda determining the outcome before you start. Nobody writes negative things any more on any listed firms / so balance goes... this is different, but still fair.”

“In depth write-ups that seem to answer most / all the questions I would have. The companies covered are well picked: usually it's the first time I read an in depth pitch about them. I prefer the actionable ideas (cheap now), but completely understand you can't produce actionable ideas on a weekly basis.”

“I like the quality of the in-depth analysis. The writing style. The history of the business (which few others bother much with, but provides insight into how we got to where we are now).”