8 December 2020 | by Ensemble Capital

Ensemble Capital’s Senior Investment Analyst, Arif Karim, recently had the pleasure of speaking with Stig Brodersen and Preston Pysh on their Investors Podcast show We Study Billionaires about our investment thesis on Charles Schwab (SCHW).

During the interview, Arif discussed:

  • Schwab’s history and  business evolution from its roots as a modest discount broker into one of the largest custodian of assets with over $4T of client assets.
  • The intermingled role of scale and culture in driving efficiency, customer value proposition, and competitive advantage for Schwab.
  • Importance of Schwab Bank in supporting low fees for all client services while generating a strong return for shareholders.
  • The impact of interest rates and inflation to Schwab’s business through the business cycle.

To listen to the interview, please click on the link here.

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