Argonautica

Professional investors can review published thought leadership and market updates from the Argonaut Investment Team.

1 post found for March 2013

‘Ryanair and the importance of high ROE for growth and dividends’

Warren Buffett once quipped that the way to become a millionaire was to “start as a billionaire and buy an airline”, but our experience of investing in Ryanair, Europe’s leading low-cost airline has been somewhat different. In fact Ryanair is an excellent example of how a company with a superior business model can generate consistent compound earnings growth in a difficult industry environment. And given how few industries are currently booming, the success of the Ryanair may offer some useful insights…