BJCHF - Investing In Airports: A World Of Opportunities
When buying a stock for the long term, I look for:
- A wide moat that will keep competitors at bay in the long run.
- One or several macro trends that will support the growth of the business.
Moats bring high margins, macro trends ensure growth, and you get the winning formula of fast, profitable growth.
This combination can be found in many publicly-traded airports, which is why they deserve a place in long-term, dividend-growth portfolios. The current emerging market weakness has created some opportunities in airport operators in Latin America.