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The Pointsbet Holdings Ltd (ASX: PBH) share price fell more than 10% on Monday. At market close, it finished trading at $2.95.

Pointsbet describes itself as a corporate bookmaker, with operations in Australia, the US, Canada and Ireland.

The small-cap ASX share is scheduled to hand in its FY22 fourth quarter update on 29 July 2022. However, it has been a while since the company released a price-sensitive announcement.

However, it’s not the only small ASX share that is down today. The S&P/ASX 200 Index (ASX: XJO) is down 0.1% and the S&P/ASX Small Ordinaries Index (ASX: XSO) is down 0.75%.

Some of ASX’s other growth shares are also down. The Adore Beauty Group Ltd (ASX: ABY) share price is down 4%, the Temple & Webster Group Ltd (ASX: TPW) share price is down 3.4%, the Cettire Ltd (ASX: CTT) share price is down 14%, the Appen Ltd (ASX: APX) share price is down 15% and the Whispir Ltd (ASX: WSP) share price is down 7.8%.

What’s going on with the Pointsbet share price?

Aside from simply matching the decline of other small cap ASX shares, there could also be an element of profit-taking from some investors.

The Pointsbet share price is still up 10% over the last week and it’s up 18% in the past month.

According to reporting by the Australian Financial Review, bond investors are betting that there is going to be an economic slowdown in the US (and the world), but interest rates may still need to go up to control inflation.

The post Here’s why the Pointsbet share price tumbled 10% today appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why has the Pointsbet share price launched 7% today?
• Why did the Pointsbet share price leap 7% on Thursday?
• What is sending the PointsBet share price 6% lower today?
• These are the 10 most shorted ASX shares

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd, Cettire Limited, Pointsbet Holdings Ltd, Temple & Webster Group Ltd, and Whispir Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited, Cettire Limited, Pointsbet Holdings Ltd, Temple & Webster Group Ltd, and Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Woodside Energy Group Ltd (ASX: WDS) shares fell slightly today amid falling oil prices.

Woodside shares dropped 0.81% to $30.72 in today’s trade. For perspective, the S&P/ASX 200 Index (ASX: XJO) fell 0.02% today.

Let’s take a look at what has been happening at Woodside lately.

What’s going on at Woodside?

Woodside shares are slightly in the red today after oil prices dropped. International benchmark Brent crude oil is down 0.62% at the time of writing, while WTI crude oil is 0.77% in the red, according to Bloomberg energy.

In recent news, Woodside has ended the “current sell-down process” for the Sangomar oil project. Woodside currently has an 82% interest in the project. This project is worth US$4.6 billion, or $6.67 billion Australian dollars.

Woodside said in its recent second quarter report last week, it will ditch this sell-down – at least for now. CEO Meg O’Neill said:

Following extensive discussions with potential new partners, we have decided to discontinue the sell-down of equity in Sangomar.

The company had been planning to cut its interest in the project, located about 100 km south of Dakar, Senegal, to less than 50%.

In comments cited by The Australian Financial Review, O’Neill highlighted the two parties have not been able to arrive at a saleable price due to high oil prices. She said:

When we’ve got oil that’s going to be coming to market in the very near term, our
expectation of what fair value is is quite attractive, and in a high price environment,
sometimes it’s hard for buyers and sellers to come home to alignment on what price is
appropriate

Woodside reported last week revenue increased by 44% in the second quarter of this year, up 44% from the previous quarter. Production also increased 60% on the first quarter of this year.

Recap of Woodside shares

Woodside shares have surged 38% in the past year, jumping 40% in the year to date.

However, in the past month, Woodside shares have jumped just 0.36%.

For perspective, the benchmark ASX index has declined about 8% in the past year.

Woodside has a market capitalisation of over $58 billion based on today’s share price.

The post Own Woodside shares? Here’s why this $7 billion deal could be at risk appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday
• Why Leo Lithium, Rio Tinto, Santos, and Woodside shares are dropping today
• Woodside share price slips despite 44% revenue boost
• ‘Not enough’: Could Europe’s gas woes bolster ASX 200 energy shares?

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) ended Monday’s session in the red, weighed down by tech shares. At market close, the index was 0.02% lower at 6,789.9 points.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) dumped 1.5% following Friday’s poor performance on Wall Street.

The tech-heavy NASDAQ Composite (NASDAQ: .IXIC) slumped 1.9% on Friday’s session overseas while the S&P 500 (SP: .INX) fell 0.9% and the Dow Jones Industrial Average (DJX: .DJI) recorded an 0.4% slip.

Telecommunication and healthcare shares also suffered today, with their sectors slipping 1.2% and 1%, respectively.

Looking into the green, though, utilities and materials outperformed. The S&P/ASX 200 Materials Index (ASX: XMJ) lifted 1% following a slight uptick in base metal prices, as well as iron ore futures and gold futures.

All in all, four of the ASX 200’s 11 sectors were recording gains at the closing bell.

So, which ASX 200 shares outperformed all others on Monday? Let’s take a look.

Top 10 ASX 200 shares countdown

Today’s top performing ASX 200 share was Insurance Australia Group Ltd (ASX: IAG). The stock bounced back from its recent lousy performance to post a 6% gain today. Find out more about what the insurer has been up to here.

Today’s biggest gains were made by these ASX 200 shares:

ASX-listed company	Share price	Price change
Insurance Australia Group Ltd (ASX: IAG)	$4.46	5.94%
Steadfast Group Ltd (ASX: SDF)	$5.32	3.91%
Evolution Mining Ltd (ASX: EVN)	$2.43	3.85%
Nickel Industries Ltd (ASX: NIC)	$1.03	3%
Flight Centre Travel Group Ltd (ASX: FLT)	$17.62	2.98%
Corporate Travel Management Ltd (ASX: CTD)	$18.77	2.91%
Northern Star Resources Ltd (ASX: NST)	$7.31	2.67%
Suncorp Group Ltd (ASX: SUN)	$11.30	2.63%
Charter Hall Group (ASX: CHC)	$11.95	2.4%
Fortescue Metals Group Limited (ASX: FMG)	$18.25	2.36%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the AFIC share price outperforming on Monday?
• Why Damstra, Flight Centre, IAG, and Pantoro shares are pushing higher
• Is the Evolution share price a buy after falling 40% this year?
• Experts predict 2 companies heading for the ASX 20 (and 2 that will get kicked out)

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Steadfast Group Ltd. The Motley Fool Australia has positions in and has recommended Insurance Australia Group Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Steadfast Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Damstra Holdings Ltd (ASX: DTC) share price rocketed 26% today following the release of the company’s report for the June quarter.

After opening 10.5% higher at 21 cents, the workplace management solutions provider’s stock surged to trade at an intraday high of 26.5 cents – representing a 39% gain. At market close on Monday, the Damstra share price finished at 24 cents, a rise of 26.32% from the previous close.

Damstra share price takes off on positive cash flow

• $8 million of unaudited revenue – the highest quarterly revenue of financial year 2022 (FY22)
• The company has now reported three consecutive quarters of revenue growth
• $1.3 million of operating cash flow – first quarter of positive cash flow in FY22
• The company boasted 953 clients at the end of June – a 12.5% quarter-on-quarter improvement

A strong June quarter’s performance saw Damstra’s revenue for the second half increase 25.2% on the first half of financial year 2022.

The company’s operating cash flow ended in the green. However, when also considering investing outflows, it reports an outflow of $1.2 million. That was an improvement on the March quarter’s $4.7 million outflow.

The ASX tech company ended the quarter with $10.1 million in cash and $5 million of undrawn funding.

What else happened in the last quarter?

Damstra’s bottom line improved through the June quarter, but its share price wasn’t so lucky. The stock tumbled 42% last quarter despite news of a three-year agreement with Barrick Gold worth at least US$1.2 million.

The company also signed a three-year agreement with Capstone Copper alongside smaller North American client wins expected to help drive its international expansion.

Finally, the company’s cost optimisation project is now targeting savings of $8 million, up from $5 million in April.

Around half of those savings had been realised on a run rate basis at the end of June. It’s expecting to achieve its final target by the end of the December quarter.

What did management say?

Damstra CEO Christian Damstra commented on the results driving the company’s share price higher today:

Q4 has been a breakthrough quarter for Damstra in many ways… our international business is now showing the benefits of our significant investment and we believe Damstra has the critical mass to grow at scale.

We continue to see a growing sales pipe of opportunities in [Australia and New Zealand] but also internationally.

Our much-improved cash flow outcomes are pleasing in the current environment, with a material and structural reduction in cash outflows in Q4.

What’s next?

Damstra hasn’t provided guidance for FY23 just yet, but there is good news regarding its outlook.

The company believes it will be free cash positive in the second half of this financial year as long as markets don’t materially decline between then and now. It noted its focus on free cash flow, rather than operating cash flow, will likely meet investors’ focus on the net cash position of technology companies.

Damstra share price snapshot

The Damstra share price has underperformed through 2022 so far.

It has slumped 29.4% year to date. It’s also currently 78.9% lower than it was this time last year.

For context, the S&P/ASX All Technology Index (ASX: XTX) has fallen 28.5% since the start of the year and 26% over the last 12 months.

The post Damstra share price soars 26% following ‘breakthrough quarter’ appeared first on The Motley Fool Australia.

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More reading

• Why Damstra, Flight Centre, IAG, and Pantoro shares are pushing higher
• Why Chalice Mining, Damstra, Link, and Pinnacle shares are storming higher
• Why is the Damstra share price soaring 26% on Thursday?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Damstra Holdings Ltd. The Motley Fool Australia has recommended Damstra Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Accent Group Ltd (ASX: AX1)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $1.65 price target on this footwear retailer’s shares. This follows the release of a trading update which fell short of expectations. While this was disappointing, Morgan Stanley highlights that like for like sales growth has been achieved early in FY 2023. Furthermore, there have been improvements in the supply of new products. The Accent share price is trading at $1.37 today.

Coronado Global Resources Inc (ASX: CRN)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating but trimmed their price target on this coal miner’s shares to $2.15. While Coronado’s second-quarter update disappointed Goldman, it remains positive due to its “compelling” valuation and strong free cash flow generation. The broker expects the latter to underpin big dividends in the near term. The Coronado Global share price is fetching $1.39 on Monday afternoon.

Santos Ltd (ASX: STO)

Analysts at Citi have retained their buy rating and $8.60 price target on this energy producer’s shares. According to the note, Santos missed on Citi’s estimates for production and revenue in the June quarter. However, the broker was pleased to see that management has held firm with its calendar year guidance. As a result, the broker sees plenty of value in the company’s shares at the current level. The Santos share price is trading at $6.99 today.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• Top brokers name 3 ASX shares to buy next week
• Why Accent, Humm, IAG, and Webjet shares are dropping
• ASX 200 midday update: Brickworks higher, IAG drops on prelim results, Zip rockets
• Coronado share price tumbles 8% despite record quarterly revenue

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ASX shares and global shares have been punished in 2022. However, I think there are a few quality exchange traded funds (ETFs) that could be effective investments in this environment.

With share prices down so much across a wide variety of sectors, it may be hard to know which opportunity to go for.

ETFs give us the opportunity to buy a whole index, like the S&P/ASX 200 Index (ASX: XJO), or perhaps to increase an allocation to a specific sector or investing style.

‘Quality’ can mean many different things to different investors. But, if businesses tick multiple boxes, then I believe they have a good chance of doing well over the longer term.

With that in mind, here are two leading quality ETFs that I’d buy in August.

Betashares Global Quality Leaders ETF (ASX: QLTY)

The QLTY ETF looks much more attractive after falling just over 20% in 2022.

As BetaShares says, the ETF is invested in 150 of the world’s highest-quality companies.

But how are those businesses judged to be high-quality? There are quality rankings for a few different factors: return on equity, debt to capital, cash flow generation ability, and earnings stability. When you put those four elements together, a business that scores well on all four has a decent chance of producing solid returns.

Despite falling 23.5% over the six months to 30 June 2022, the fund’s average return per annum of 8.1% over the prior three years was stronger than the 7.83% per annum return of the MSCI World ex-Australia Index over the same time period.

While there isn’t much investment concentration in the fund, with the biggest holding only having a 2.1% weighting, these are some of the biggest allocations: Visa, Accenture, Automatic Data Processing, Cisco Systems, Intel, Johnson & Johnson, Microsoft, Novartis, and Novo Nordisk.

I like the combination of quality and geographic diversification with this ETF. Only 60% of the portfolio is invested in US shares, compared to 70% for the global share market benchmark.

VanEck Morningstar Wide Moat ETF (ASX: MOAT)

This is another quality ETF focused on businesses in the US.

However, there are fewer businesses in this portfolio. On 30 June 2022, there were a total of 50 positions.

Let’s look at the ETF’s biggest holdings: Kellogg, Veeva Systems, Gilead Sciences, Biogen, Ecolab, Western Union, Polaris, Microsoft, Masco, and 3M.

A key focus of this ETF is on quality US companies that have “sustainable competitive advantages”, which can also be described as “wide economic moats”.

Competitive advantages can come in a number of different forms including brand power, intellectual property, costs, and so on.

The analysts at Morningstar believe the companies in this quality ETF can maintain their competitive advantages for at least the next decade and perhaps for two decades or more.

The MOAT ETF has outperformed the S&P 500. Since June 2015, the ETF has returned an average of around 14% per annum compared to an average return per annum of 11.8% from the S&P 500.

The post 2 quality-focused ETFs I’d load up on in August appeared first on The Motley Fool Australia.

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More reading

• 3 popular ASX ETFs for investors to buy
• Here are 3 fantastic ETFs for ASX investors to buy now
• I think these 2 ETFs are too good to miss in July 2022
• 3 quality ETFs for ASX investors to buy next week

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cisco Systems, Gilead Sciences, Intel, Microsoft, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended 3M and Johnson & Johnson and has recommended the following options: long January 2023 $57.50 calls on Intel and short January 2023 $57.50 puts on Intel. The Motley Fool Australia has recommended VanEck Vectors Morningstar Wide Moat ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Polynovo Ltd (ASX: PNV) share price is down heavily on Monday. At the time of writing, it is around 12.2% IN THE RED.

That’s significantly worse than the S&P/ASX 200 Index (ASX: XJO) which is only down by 0.1%. Meanwhile, the S&P/ASX Small Ordinaries Index (ASX: XSO) is down by 0.75%.

Small-cap ASX shares are hurting more than their larger counterparts.

The business hasn’t released any news today. Indeed, it has been around a month since the company announced anything.

There are many other smaller ASX shares that are also down heavily. For example, the Appen Ltd (ASX: APX) share price is down 15.3%, the Cettire Ltd (ASX: CTT) share price is down 14.1%, the Sezzle Inc (ASX: SZL) share price is down 11.7%, the Archer Materials Ltd (ASX: AXE) share price is down 11.2% and the Praemium Ltd (ASX: PPS) share price has dropped around 11%.

Why is the Polynovo share price hurting?

Sometimes there isn’t an explainable reason. There isn’t any company-specific news.

However, when looking at the Polynovo share price, it is only back down to where it was last week.

Over the past month, it is still up by 16% despite today’s decline. So, this could simply be some investors taking short-term profit off the table.

Reporting by the Australian Financial Review indicates that there is going to be a “global economic slowdown” as business activity was weaker than expected in the US and Europe. With strong inflation ongoing, this could mean central banks aren’t able to create a “soft landing” for the global economy.

The post Why is the Polynovo share price down over 12%? appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• The Polynovo share price has popped 32% in a month. What’s going on?
• These are the 10 most shorted ASX shares
• Why are short sellers targeting PolyNovo shares?
• These are the 10 most shorted ASX shares

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd, Cettire Limited, POLYNOVO FPO, and Praemium Limited. The Motley Fool Australia has recommended Cettire Limited and Praemium Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) has started the week in a subdued fashion. In afternoon trade, the benchmark index is down a few points to 6,788.5 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Appen Ltd (ASX: APX)

The Appen share price is down 14% to $5.65. This follows weakness in the tech sector, concerns over demand from social media customers, and a broker note out of Citi. The latter has seen the broker warn investors that Appen’s first half earnings could fall short of estimates. It also has concerns over management’s expectation for a big jump in revenue in the second half.

EML Payments Ltd (ASX: EML)

The EML share price is down 22% to 93 cents. Investors have been selling this payments company’s shares following news that the Central Bank of Ireland has not approved the remediation programme for its European operations. The bank identified “shortcomings” in components of the programme, principally the sequencing and approach taken to the risk assessment of its distributors, corporates and customers.

Imugene Limited (ASX: IMU)

The Imugene share price is down 9% to 23.2 cents. This morning this biotech company released its quarterly update and revealed an operating cash outflow of $10.15 million. Though, the company remains in a strong financial position with a cash balance of approximately $100 million.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is down 8% to $4.24. This follows the release of the infection prevention company’s business update this morning. Although that update revealed sales ahead of consensus estimates, the lack of commentary around costs appears to have spooked investors. There are concerns that the company’s margins could be crunched by its sales model transition in North America.

The post Why Appen, EML, Imugene, and Nanosonics shares are sinking appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• These are the 10 most shorted ASX shares
• Why is the Appen share price sinking 15% today?
• ASX 200 midday update: EML crashes, Flight Centre jumps on guidance upgrade
• EML share price crashes 22% on Ireland warning

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd, EML Payments, and Nanosonics Limited. The Motley Fool Australia has positions in and has recommended EML Payments and Nanosonics Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is having a very bumpy start to the trading week this Monday.

At the time of writing, the ASX 200 is essentially flat, down by a weak 0.07% at 6,787 points. This comes after the ASX 200 had played jump rope with the breakeven line all day, with stints in both positive and negative territory so far.

But rather than trying to decipher those moves, let’s instead look deeper at the ASX 200 shares currently at the top of the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

South32 Ltd (ASX: S32)

Mining company South32 is our first ASX 200 share to take a glance at this Monday. So far today, a notable 16.56 million South32 shares have been dug up and sold to investors. This volume has probably been pushed along by the release of South32’s quarterly update this morning.

As we covered at the time, South32 reported some pleasing results. These included higher production of aluminium, copper, manganese, nickel, and zinc. South32 shares have put on 0.71% to $3.555 so far today.

Zip Co Ltd (ASX: ZIP)

The second ASX 200 share worth checking out today is buy now, pay later (BNPL) share Zip. This Monday has seen an impressive 17.2 million Zip shares trade on the markets thus far. This looks to have been sparked by the volatility we have seen with Zip shares today.

The BNPL share is currently down by 0.57% at 87.5 cents a share. But it has been as low as 80 cents and as high as 92 cents over just this trading day alone. Such bouncing around is always going to promote higher volumes, and that looks like what is happening with Zip presently.

EML Payments Ltd (ASX: EML)

EML payments is our third and final ASX 200 share experiencing elevated trading volumes this Monday. So far today, a sizeable 17.34 million EML shares have been bought and sold on the market. Unfortunately for investors, this looks like a consequence of this company’s precipitous share price drop today.

The payments company is currently down a nasty 22% to 93 cents a share. This drop seems to be caused by the company’s announcement this morning that the Central Bank of Ireland remains unhappy with EML’s remediation program.

The post Here are the 3 most heavily traded ASX 200 shares on Monday appeared first on The Motley Fool Australia.

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More reading

• Why is the AFIC share price outperforming on Monday?
• Experts predict 2 companies heading for the ASX 20 (and 2 that will get kicked out)
• These are the 10 most shorted ASX shares
• Swings and roundabouts: What’s with the Zip share price today?
• ASX 200 midday update: EML crashes, Flight Centre jumps on guidance upgrade

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

A company’s leadership is certainly one of the most important factors in its success. The decisions made by C-suite executives quite literally have million- and even billion-dollar implications for the business.

And without a doubt, Amazon‘s (NASDAQ: AMZN) leadership over the years has been one of the best in business.

If you want to find companies with Amazon-like leadership teams, consider these three qualities that have driven the company’s dominance.

1. A culture of experimentation

Recently, I dived into Amazon’s storied history and unpacked just how important optionality has played in the company’s success. This optionality comes from a culture of experimentation.

In a 2014 interview, founder Jeff Bezos once said, “What really matters is, companies that don’t continue to experiment, companies that don’t embrace failure, they eventually get in a desperate position where the only thing they can do is a Hail Mary bet at the very end of their corporate existence.”

The focus on innovation through trial and error is well-documented throughout Bezos’ many shareholder letters. While many companies claim to prioritize innovation, Bezos recognized true innovation meant there would be big failures.

One of Amazon’s biggest failures was the Fire Phone. The company invested over $170 million into the product in 2014, and it completely whiffed, selling just 35,000 units in the first month after the launch.

In the 2019 shareholder letter, Bezos explained why he’s OK with massive failures like this, saying: “This kind of large-scale risk-taking is part of the service we as a large company can provide to our customers and to society. The good news for shareowners is that a single big winning bet can more than cover the cost of many losers.”

Without embracing potential flops, Amazon would likely have never produced some of its best products and services, like the Echo or Amazon Web Services.

You can get a sense of how much emphasis a management team places on experimenting and innovation by listening to earnings calls or reading through shareholder letters.

2. Customer obsession

Amazon’s leadership team uses a strategy they call “working backwards”. Instead of starting with competitor products or those with the highest margins, they simply consider, “What does the customer want?” and then work backward from there to design exceptional products and services.

This obsession with the customer has driven decades of great decision-making by the leadership team. And Bezos has long attributed it as the primary reason for Amazon’s success, saying, “The No. 1 thing that has made us successful by far is obsessive-compulsive focus on the customer as opposed to obsession over the competitor.”

At the end of the day, customers drive revenue, and companies that maintain an intense focus on customer service have a knack for winning over the long run.

3. Publicly-stated, ambitious goals

Excellent companies are very often led by management teams with ambitious goals. Amazon’s first slogan was “the world’s largest bookstore”. Despite Barnes & Noble taking offense to this and suing the company back in 1997, this slogan represented the grandeur of Bezos’ vision for the company.

He could have used a simple slogan like “the first online bookstore”, but he publicly stated his global ambition even in the company’s early days.

Amazon’s mission statement today is “to be Earth’s most customer-centric company” and it has a corporate vision statement “to be Earth’s best employer and safest place to work”, in response to harsh criticism of brutal working conditions in its distribution centers.

Notice the global theme in the company’s goals. This ambition is critical to achieve even a fraction of the growth and dominance of Amazon.

Another public company with an eccentric (and often polarizing) CEO that has stated very ambitious goals is electric vehicle maker Tesla, led by Elon Musk.

The company’s mission is “to advance the world’s transition to sustainable energy”. With the recent expansion of its “gigafactories” into China and Europe and its industry-leading deliveries, Tesla appears to be executing on this ambitious goal.

Studying Amazon makes you a better investor

Identifying the next Amazon is no easy task as it’s clearly a generational company. But studying this e-commerce juggernaut provides a treasure trove of insights into the qualities shared by other great companies.

When analyzing businesses, look for management teams that embrace experimentation (and failure), have a deep focus on the customer, and are public about their ambitious goals for the future.

Incorporating these qualities into your management analysis can lead you to discover the next market-beating stock.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Want to invest in management teams like Amazon’s? Here’s what to look for appeared first on The Motley Fool Australia.

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More reading

• 2 important investing metrics you won’t find on a financial statement
• Amazon is bowing to regulators. Here’s what it means for shareholders
• Amazon earnings: What to watch on July 28
• What’s in store for the BetaShares NASDAQ 100 ETF in the next 12 months?
• Better advertising stock: Alphabet vs. Amazon

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Mark Blank has positions in Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon and Tesla. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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