Wry & Dry #18-25 Baku. Bigger than Luna Park. Moving out.
Just four countries account for 60% of the world’s CO2 emissions from fossil fuels. Why then are 66,778 people from 195 countries (including climate change zealot, Chris Bowen) attending a jamboree (aka COP29) in Baku, Azerbaijan to decide, for the 29th time, how to reduce emissions from fossil fuels?
Perhaps embarrassment that a fossil fuel rich country is hosting the event, for the second successive time, doesn’t matter when it’s a fortnight in, aye, looxury at someone else’s expense.
NIB and the Health Insurance Sector
In recent missives, we have discussed our portfolio investments in businesses which have leveraged to the rising influence of Government spending. In part, this spending by Government reflects a need to support the infrastructure requirements of a rising population level in Australia.
In turn, in a related impact of this thematic, we have more recently added positions in pathology stocks (Healius and ACL) as well as a small position in the portfolio in NIB, one of Australia’s largest health insurers.
This week Craig Shepherd covers NIB a company that has a demonstrable track record of outperformance over the past 2 decades. The company has steadily grown policy holder numbers at a rate far exceeding that of the system.