• Brett Schafer

What Does Adobe's Next Decade Look Like? With Leandro From Best Anchor Stocks



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Show Notes


This week we brought back Leandro from Best Anchor Stocks to talk about Adobe and its recent acquisition of Figma. Here are some questions we asked him:


  1. What are Adobe’s various segments? What products are included in each?

  2. How does Adobe price its products? Can customers bundle? Do they force people to buy bundles?

  3. Industry dynamics. Why has revenue growth been generally consistent over the decades? Can that continue this decade?

  4. What do you think some of Adobe’s competitive advantages are?

  5. Were you surprised by the Figma deal? Overall thoughts on the acquisition?

  6. Does the Figma acquisition hint at Adobe’s eroding competitive position in the marketplace?

  7. What do you think of management? Thoughts on capital allocation over the last decade or so?

  8. Thoughts on the valuation today?

  9. Premortem: Why would Adobe make a poor investment over the next few years?


Disclosure: The author and podcast guests are not your financial advisors. Ryan Henderson and Brett Schafer are general partners and portfolio managers at Arch Capital. Clients of Arch Capital may hold securities discussed on this show.

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