CrowdStrike: Growth Reaccelerating, But Valuation Still A Constraint (NASDAQ:CRWD)

Company Overview - CrowdStrike Holdings, Inc. (CRWD) is experiencing a business rebound following an IT outage in mid-2024, supported by a favorable demand environment [1] Investment Strategy - Narweena, an asset manager led by Richard Durant, focuses on identifying market dislocations due to misunderstandings of long-term business prospects, aiming for excess risk-adjusted returns through secular growth opportunities in markets with barriers to entry [1] - The research process emphasizes company and industry fundamentals to uncover unique insights, with a high risk appetite and long-term investment horizon targeting deeply undervalued stocks [1] Market Dynamics - An aging population with low growth and stagnating productivity is expected to create new investment opportunities, contrasting with past trends [1] - Many industries may face stagnation or secular decline, which could paradoxically enhance business performance by reducing competition [1] - Conversely, some businesses may encounter rising costs and diseconomies of scale, while asset-light businesses increasingly dominate economies, leading to a decline in infrastructure investment needs [1] - A large pool of capital is pursuing a limited set of investment opportunities, resulting in rising asset prices and compressed risk premia over time [1] Leadership Background - Richard Durant holds undergraduate degrees in engineering and finance from the University of Adelaide and an MBA from Nanyang Technological University, along with having passed the CFA exams [1]