Flyover Stocks: In-Depth Analysis of High-Quality Businesses
You might feel overwhelmed by the constant noise in the market, unsure where to find truly reliable insights. With two decades spent analyzing high-quality businesses for top financial institutions, I understand that struggle. Let's cut through the noise together and focus on enduring value.
I'm Todd Wenning, and for two decades, I've been immersed in the world of finance and investing. My journey has taken me from analyzing stocks for financial publications like The Motley Fool (where I worked on the Motley Fool Pro and Motley Fool Dividend Edge newsletters) to covering companies on the sell-side for Morningstar and the buy-side for Johnson Investment Counsel and Ensemble Capital Management.
Over my career in equity research, I've developed a deep understanding of what constitutes a high-quality business, and that will be our focus at Flyover Stocks.
In 2024, I formalized this passion by founding KNA Capital Management, an Ohio-registered investment firm. At KNA Capital, we patiently seek out companies with durable competitive advantages (economic moats), led by management teams who prioritize long-term shareholder value, all while maintaining a disciplined approach to valuation.
In 2017, I summarized my investment philosophy in the below Venn Diagram sketch, the first iteration of which went viral on Twitter.
Flyover Stocks is an extension of this investment philosophy. I believe that writing is an essential part of the investment process – it forces clarity of thought and allows me to share the insights I've developed.
This newsletter is where I share my latest thinking on crucial investment topics such as position sizing, selling stocks, and rigorously evaluating management teams.
Here's what you can expect from Flyover Stocks:
A Platform for Shared Learning: I see Flyover Stocks as a community where we can all learn and improve our investment acumen together. Your questions and engagement are welcome!
In-Depth Company Profiles: I regularly dive deep into quality, often under-covered businesses, offering a fresh perspective on potential investment opportunities. You can explore the archive of past profiles here. (Note that the full profiles are only available for paid subscribers. More on that in a moment.)
Unlock Deeper Insights: What You Get as a Paid Member
While the free version of Flyover Stocks offers valuable insights, becoming a paid member unlocks a wealth of exclusive content designed to give you a significant edge in your investment journey:
Full Access to Exclusive Company Profiles: Dive deep into my complete analysis of overlooked companies. Paid subscribers gain unrestricted access to every profile, including detailed breakdowns of:
Economic Moat: Understanding the company's sustainable competitive advantages.
Management: Assessing the quality and alignment of leadership.
Valuation: My perspective on the company's intrinsic value.
Ranked Qualitative Attributes: A structured evaluation of key non-financial factors.
Exclusive Content & Educational Series: Go beyond individual company analysis with members-only content. An example of this was an in-depth educational series on economic moats, providing readers with a foundational understanding of this critical investment concept. Expect more exclusive series and content in the future!
Ready to gain a deeper understanding of overlooked companies and elevate your investment thinking? Upgrade to a paid subscription today and unlock full access to all company profiles and exclusive content.
Think of your paid subscription as investing in your own financial education and gaining access to insights honed by years of professional experience.
But I get it - $513 a year is a meaningful investment.
I am so confident that you’ll get more than your money’s worth that I stand by a 7-day money-back guarantee. If within 7 days of purchasing an annual subscription (does not apply to monthly subscriptions), if you’re not happy with what you see, I will promptly issue you a full refund.
What some paid subscribers say about Flyover Stocks
“Particularly appreciate your moat analysis and scoring system, with table comparing moat scores across your coverage, along with review of corporate governance, management quality, ownership and incentive systems.”
"I have been a long time fan of Todd's work starting from his time at Morningstar. I have also purchased his book which I do highly recommend. Todd's methodology of stock analysis makes good sense to me."
"Wanted to read your notes in full. You've come across several interesting companies I've had my eye on for awhile so I imagine we think alike. "
Important Considerations
Before you purchase a subscription, it's crucial to understand what Flyover Stocks is and isn't:
Not a Buy/Sell Recommendation Service: Each month, I share my analysis and insights on an intriguing quality company, but I do not tell you what to buy or sell.
Not Portfolio Mirroring: I don’t run a model portfolio through Flyover Stocks for you to follow.
Do Your Own Due Diligence: The company profiles are intended to provide a starting point for your own independent research. Always conduct thorough due diligence before making any investment decisions.
Informational Purposes Only: The content on Flyover Stocks should not be considered financial advice. Please consult with a qualified financial advisor for personalized guidance. See disclaimers for more information.
No Guarantee of Cheap Stocks: Profiles are published based on my analysis and interest, not necessarily when a company's stock appears to be trading at a low valuation. In my experience, it’s far better to have a bullpen of quality ideas ready to go and wait for good buying opportunities to pounce on them.
Stay patient, stay focused.
Todd
Please see important disclaimers.
