Grab: Exceptional Business At Fair Price

Grab is creating the next big ecosystem of interconnected businesses. The potential is undeniable, the price is fair.

Howard Marks once said—“if you want to succeed in investing, you have to take uncomfortably idiosyncratic positions.”

This is obviously true.

Given the ways markets are structured, being right doesn’t mean anything. If everybody else is also right with you, what you get is the market return. Mediocre.

To be really successful in the market, to make the big…