It is the Tuscany of Germany
You’ve probably heard such comparisons before - for other countries too. Southern Styria is often referred to as the Tuscany of Austria. Unfair really, as the region’s own merits make such comparisons unnecessary.
One thing is certain: when the Tuscany comparison crops up, you know it's not like that. All that remains are rolling hills, grapevines and perhaps a lone cypress tree adorning a front garden here and there. Unfortunately, the essential joie de vivre is missing.
The Karas family has been on vacation for the past two weeks. First an Italian beach and then a tour through France, Switzerland and Germany. Among our stops was the French town of Colmar, where at Place de L'Ancienne Douane, a German tourist extolled the virtues of his homeland’s Tuscan doppelgänger. I won't name the exact region here, as I’d rather not point fingers.
Strong brands
Such comparisons are popular in the investment world too. Headlines like "The iPhone killer!" and "Like McDonalds, but better!" are used to make new companies appealing. However, it is very difficult to throw off track companies with such recognizable brands and established places in people's lives.
Yet nothing is built to last forever. It’s crucial to keep your finger on the pulse. The Gutmann equity team invests for the long term in strong business models that offer growth and ample reinvestment opportunities. Our colleagues always keep their eyes and ears open to identify new developments as early as possible.
Top-tier companies
We are currently witnessing enormous progress and innovation, particularly in the areas of technology and healthcare. However, we’re not looking for the next iteration of Apple and McDonald’s. We like the existing business models well enough.
We prefer to remain invested in top-tier companies while also identifying niche areas where smaller, focused enterprises can become tomorrow’s winners.
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