Amazon – In the middle of difficulty lies opportunity

Welcome to the 15th edition of the BKI Quarterly Report, prepared by Contact Asset Management. As regular readers are aware, Tom and I use these missives to share our thoughts on topical issues impacting the BKI Investment Company Portfolio. Past issues include discussions such as the Benefits of Long-Term Investing, our View on the Banks and updates on Research Trips that we have undertaken. This report and previous issues can be found on the BKI Investment Company website at

In this edition, we cover a topic that is dominating headlines – the impending arrival of into the Australian market. We provide a brief history of Inc, discuss its successful model and then consider which Australian businesses will be challenged and which may benefit.

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