Really excellent analyis of applying the Robustness Ratio framework to Wise. The insight that most value flows to customers rather than shareholders right now is key, but what strikes me most is your point about the enterprise segment being a multi-year build. That 16 trillion enterprise market willtake serious relationship capital and regulatory navigation that cant be rushed, making this less about competitve moats today and more about patient infrastructure positioning for tomorrow.
Wise, so far so good. Some suggestions for the deep-dive : (1) quality of earnings (artificially inflated by high interest rates, no more the global trend) (2) durability of the moat (Wise lower prices because no choice?) (3) £16T market, big banks to outsource their core payment & welcome a newcomer? (4) hidden P/E when we strip out "the excess interest income" what's the P/E on the operating business ?(5) governance dispute (potential overhang)? (6) competition with REVOLUT (IPO next year backed by smart money & NVDA).
Thanks for the feedback. I will address all of these in my future articles on Wise. Your most important comment is related to the durability of the moat. Can they grow without lowering prices? I'll dive deep into that one!
Really excellent analyis of applying the Robustness Ratio framework to Wise. The insight that most value flows to customers rather than shareholders right now is key, but what strikes me most is your point about the enterprise segment being a multi-year build. That 16 trillion enterprise market willtake serious relationship capital and regulatory navigation that cant be rushed, making this less about competitve moats today and more about patient infrastructure positioning for tomorrow.
The key is to profit from their periods of investment, while they build the infrastructure of the future
FYI It looks like you can buy WIZEY on Fidelity and Schwab in the US.
Hey thanks for the feedback!
Wise, so far so good. Some suggestions for the deep-dive : (1) quality of earnings (artificially inflated by high interest rates, no more the global trend) (2) durability of the moat (Wise lower prices because no choice?) (3) £16T market, big banks to outsource their core payment & welcome a newcomer? (4) hidden P/E when we strip out "the excess interest income" what's the P/E on the operating business ?(5) governance dispute (potential overhang)? (6) competition with REVOLUT (IPO next year backed by smart money & NVDA).
Thanks for the feedback. I will address all of these in my future articles on Wise. Your most important comment is related to the durability of the moat. Can they grow without lowering prices? I'll dive deep into that one!